KUALA LUMPUR — Malaysia has once again underscored its status as a frontrunner in the global halal industry, unveiling ambitious new initiatives and economic milestones at the International Halal Economic Conference 2026.

The high-profile event convened political figures, business leaders, industry experts, and financial institutions from around the globe to discuss the future of the halal market. A major highlight of the conference was the official launch of the World Islamic Economic Development (WIED), a groundbreaking global initiative designed to structure and accelerate the growth of the halal economy worldwide.

Delivering the opening address, Deputy Prime Minister II Fadillah Yusof emphasized that the halal concept extends far beyond a mere commercial label. Instead, he described it as a fundamental commitment rooted in trust, responsibility, and justice aimed at serving society as a whole.

A Booming Economic Engine

The halal sector has cemented its role as a vital growth engine for Malaysia. In 2025, the industry accounted for 7.94% of the nation's Gross Domestic Product (GDP), translating to approximately 118.2 billion ringgit. Currently, the sector supports over 1,500 registered halal exporters nationwide.

While food remains a cornerstone of the industry, officials stressed that the halal economy spans a diverse array of sectors—including Islamic finance, pharmaceuticals, cosmetics, logistics, tourism, technology, and energy. Globally, the halal economy is estimated to be worth nearly $40 trillion, encompassing over 90 key sectors.

Malaysia’s strong positioning is anchored by its globally recognized halal certification system, developed through rigorous standards aligned with the Organization of Islamic Cooperation (OIC). Furthermore, the nation officially recognizes more than 90 foreign halal certification bodies, streamlining international trade and building consumer trust across both Muslim and non-Muslim demographics.

A Sustainable Vision for the Future

The introduction of WIED marks a critical step toward addressing the current fragmentation within the global halal market. By fostering closer coordination among nations, businesses, and financial institutions, the initiative aims to build a more coherent, sustainable, and inclusive international framework.

Aligning with these global ambitions, Malaysia is slated to roll out its comprehensive National Halal Policy this year. The roadmap will guide the development of a complete halal ecosystem—covering research, innovation, professional training, investment, and governance—with a particular focus on empowering small and medium-sized enterprises (SMEs) to access international markets.

To safeguard consumer trust and maintain the integrity of the certification, authorities also highlighted rigorous enforcement measures, noting that several hundred halal-related complaints were addressed with seizures and sanctions between 2023 and 2025.

Looking Ahead to 2030
With clear long-term goals in sight, Malaysia aims to expand the value of its halal industry to over 230 billion ringgit by 2030, projecting that the sector’s contribution to GDP will rise to 10.8%.

By championing international cooperation and ethical economic practices, Malaysia continues to demonstrate that the halal economy can serve as an efficient, transparent, and globally beneficial model for future generations.

[ⓒ Global Economic Times. 무단전재-재배포 금지]