Trade fairs such as the Malaysia International Halal Showcase (MIHAS) are opening up more opportunities for Malaysian companies to bring the halal sector to the international level, says the Prime Minister.
MIHAS 2022: The World’s Largest Halal Trade Event
Malaysian micro, small and medium enterprises (MSMEs) are increasingly utilising platforms such as MIHAS to access the expanding prospects in the international halal market.
This expanding tendency was clearly represented in the 18th edition of the MIHAS 2022, which was officiated by Prime Minister Datuk Seri Ismail Sabri Yaakob on September 8.
Regarded as the largest Halal trade event in the world, MIHAS 2022, with the theme ‘Diversifying Halal Possibilities’ is on track to generate RM1.9 billion in sales and as such play its part in supporting the 12th Malaysia Plan (12MP) export target by increasing the number of Malaysian MSMEs expanding their footprint into the global halal market.
Several things, including the numerous kinds of programmes MATRADE has organised over the years like MIHAS, can be credited for the change of MSMEs in making them more aware of export potential.
MIHAS 2022, organised by the Malaysia External Trade Development Corporation (MATRADE), under the patronage of the Ministry of International Trade and Industry (MITI) physically runs from September 7 to 10, 2022 at the Malaysia International Trade and Exhibition Centre (MITEC) in KL and virtually on the MIHAS 2022 microsite.
The final day of the showcase on September 10 is open to the public.
Growing Benefits of MIHAS
Sales at such annual fairs, according to Datuk Seri Ismail Sabri Yaakob, will have a ripple effect on the entire halal-related industry and benefit Malaysian businesses, including MSMEs.
In fact, the increase in sales in the halal sector will ultimately boost the gross domestic product (GDP). This is in addition to opening up more space and opportunities for Malaysian businesses to bring the halal industry to the international level,
The halal industry does not only focus on the food and beverage sector, but also other industries and services. The opportunity for the halal industry to develop will always be wide open as the Muslim population reached a total of 1.9 billion people worldwide last year. It shows that there will be potential for the halal industry to diversify, and be more inclusive and comprehensive in the long term,Datuk Seri Ismail Sabri Yaakob, Prime Minister of Malaysia
Increasing Malaysian Exhibitors
Since it was first held in 2004, there has been a noticeable increase in the number of Malaysian exhibitors including MSMEs who attend MIHAS, claims CEO of MATRADE Datuk Mustafa Abdul Aziz.
Furthermore, many were also relatively younger entrepreneurs. An illustration of this is the age distribution of the 15 exhibitors in the Pahang State pavilion, all of them were under 45.
Help To Access Global Halal Market
Deputy International Trade and Industry Minister Datuk Lim Ban Hong is confident that these and other programmes MATRADE has run over the years have helped and will continue to assist more Halal-certified Malaysian businesses access the expanding worldwide Halal markets.
For instance, the Halal market in the ASEAN region alone is estimated to be worth US$900 billion, demonstrating the potential market share that Malaysian companies can gain as producers of Halal products and services.
The Department of Islamic Development Malaysia (JAKIM) currently recognises and certifies more than 8,000 businesses in Malaysia as Halal. However, it’s estimated that only 20 percent of people export at the moment.
By 2025, SMEs are predicted to contribute 25 percent of overall exports and 45 percent of the country’s GDP, respectively, according to the 12MP.
MATRADE Digital Learning (MDL)
After launching MIHAS 2022, the Prime Minister also introduced the MATRADE Digital Learning (MDL), which mirrors the country’s digital agenda in the trade domain.
MDL is a virtual learning platform with the goal of enhancing the knowledge and expertise of Malaysian businesses by giving them comprehensive content on export-related issues. There are 13 highly industry-relevant modules in the content for MDL, which was created in part through a collaboration with Google Malaysia.
The 18th edition of MIHAS is supported by Malaysia Convention & Exhibition Bureau (MyCEB), an agency under the Ministry of Tourism, Arts and Culture Malaysia (MOTAC).
It features 13 halal clusters, such as food and beverage, services & enablers, cosmetics & personal care, modest fashion, food technology, pharmaceuticals, media & recreation, e-commerce, Islamic finance, Muslim-friendly travel, franchise, education, and MIHAS’s newest cluster, Islamic arts & crafts, which will be unveiled this year.
For more information on MIHAS 2022, visit MIHAS.