With the soft launch of the Malaysia International Halal Showcase (MIHAS) 2024, Malaysia aims to strengthen its position as the global hub for the Halal industry by venturing into emerging markets such as Central Asia, Europe, and the African continent.
Hosted by the Ministry of Investment, Trade and Industry (MITI) and organised by the Malaysia External Trade Development Corporation (MATRADE), MIHAS has been a leading platform for local and international Halal companies to showcase their products, services, and technologies.
MATRADE Chairman YB Dato’ Seri Reezal Merican Naina Merican
According to MATRADE Chairman YB Dato’ Seri Reezal Merican Naina Merican, the reception to MIHAS 2023 surpassed expectations:
“The 2023 edition witnessed a significant milestone in MIHAS’s journey, marked by remarkable accomplishments. Sales were recorded at an impressive value of RM3.11 billion, surpassing our original target by 24%, with exhibitors from 44 countries participation reached close to 1,900 booths.” – Dato’ Seri Reezal Merican Naina Merican, MATRADE Chairman
The global Halal industry is estimated to reach USD3.1 trillion
MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz
During his virtual speech at the event, MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz reflected back on the first MIHAS in 2004 at Mines Resort City with 500 booths and participants from less than 20 countries, and the strides made by the showcase over the past 20 years.
He also acknowledged MIHAS’s role in maintaining Malaysia’s top position in the Global Islamic Economy Indicator rankings for 10 consecutive years
“Malaysia is known as the leading supplier of a wide range of Halal-certified products and services, namely food, cosmetics, pharmaceuticals, finance and tourism. Malaysia’s Halal product exports increased significantly by almost
49% to roughly RM60 billion in 2022, up from RM40 billion in 2018.” – Tengku Datuk Seri Zafrul Abdul Aziz
Tengku Zafrul said the global Halal industry is estimated to reach USD3.1 trillion in Halal merchandise with an additional USD5.95 trillion projected for Islamic Financial Assets. To that end, MITI recognized Halal as one of the top priorities in their work program. The Halal Industry Master Plan targets to grow the Malaysia’s Halal industry to USD113.2 billion by 2030, opening countless opportunities for businesses and creating 700,000 jobs.
MIHAS 2024 will see several firsts, including a showcase in Dubai
Dato’ Seri Reezal Merican Naina Merican said that MIHAS 2024 would play host to 2,000 booths from 45 countries, and is expected to attract over 40,000 trade visitors. The 14 existing product clusters such as pharmaceuticals, Islamic finance, lifestyle, and fashion would be joined by a new segment – food ingredients, to supplement the growing F&B industry.
Apart from the exhibition is the International Sourcing Programme (INSP), which is expected to see 500 international buyers in pre-arranged physical or virtual meetings with Malaysian exporters.
Continuing with the theme of Globalizing Halal Innovations, the showcase will also be held outside of Malaysia for the first time in 20 years, with MIHAS@Dubai. The event will be held within the Middle East Organic and Natural Product Expo and is projected to achieve RM1 billion in sales.
“We are thoughtfully mapping out our expansion plans beyond Dubai. Our focus is on exploring opportunities to introduce MIHAS to important markets such as China, Europe and Central Asia. This aligns with our broader vision of fostering international partnerships and promoting Malaysian products to a broader audience.” – Dato’ Seri Reezal Merican Naina Merican
MIHAS 2024 will run from September 17th – 20th 2024 at MITEC, while MIHAS@Dubai will run from November 18th – 20th 2024. Head over to MIHAS’s website for visitor and exhibitor information by clicking on this link.