Malaysia has aspirations to become a global hub for the production and trade of Halal products and services, as outlined in the 2006 Third Industrial Master Plan (IMP3). And as a modern Islamic country at the forefront of economic development, Malaysia has unparalleled potential.
With a progressive living and operating environment boasting political stability and consistent economic growth, Malaysia is fast becoming a business hub of choice for all industries.
Further, Malaysia has unique advantages in developing and promoting the Halal products and services industry for many reasons.
Malaysia is a progressive Islamic country. It is business-friendly to Muslims and non-Muslims alike, making it a Halal industry advantage.
As an economically thriving nation, the Malaysian economy registered a gross domestic product (GDP) growth rate of 4.6 per cent for 2008, fueled by domestic demand and continued expansion in private and public consumption.
In 2008, its total trade grew 6.8 per cent from RM1.11 trillion to RM1.19 trillion. Its exports increased by 9.6 per cent to RM663.51 billion, while imports escalated 3.3 per cent to RM521.5 billion, resulting in a trade surplus for the eleventh consecutive year valued at RM142.01 billion. Furthermore, the economy is expected to record positive growth rate in 2009.
Malaysia has today become an export-driven economy spurred on by high technology, knowledge-based and capital-intensive industries. From January to September 2008, the services sector recorded the highest growth at 7.9%.
Racking up its global competitiveness, Malaysia has moved up the value chain to a high-technology, knowledge-based and capital-intensive powerhouse, incorporating design as well as research and development activities. Therefore, From Halal product traceability to Islamic Finance facilities, Malaysia is able to provide end-to-end Halal services.
Furthermore, Malaysia strategically located country within Asia Pacific, providing easy in-roads emerging markets in Asia and a total population larger than 500 million.
And Halal business owners will enjoy easier trade and market access to member countries of the Organisation of Islamic Countries (OIC), judging by the fact that its Chairman is a Malaysian representative.
Moreover, Malaysia has a pro-business government, offering tax and other investor incentives. In a bid to create a conducive operating environment, the government has introduced policies and an efficient institutional infrastructure to develop industry – Halal or otherwise.
An industry without talent, is simply said, asset-poor. The Malaysian talent pool is rich with young, educated and productive workers with skills necessary for science- and service-based industries.
With Malaysia being a multi-racial and multi-lingual country made up of predominantly Malays, Indians and Chinese, Halal business owners will find no shortage of bilingual talent skilled to enrich trade relations in countries such as China.
The topography of Malaysia's economic landscape is made up of a network of well-maintained highways and railways that links to efficient seaports and world-class international airports.
With Malaysia's commitment to industrial development and free trade, the government has established five economic growth corridors, in addition to over 200 industrial estates or parks and 13 free industrial zones. And as part of HDC's initiatives, Malaysia is also home to one of the world's first Halal Parks.