Malaysia’s Halal Development Corporation Sets USD 100 Billion Halal Export Target for 2030

The Halal Development Corporation (HDC), Malaysia’s Government-backed Halal industry agency, has set an export target of USD 100 billion for Malaysia’s Halal exports to be met by 2030. The HDC also targets the contribution from Halal products to rise to around 15% of Malaysia’s gross domestic product by 2030, up from 7.4% in 2019, according to local media reports.

Chief Executive Officer of HDC, Hairol Ariffein Sahari stated that Malaysia has the potential to tap into the global Halal market that is worth USD 3 trillion, by expanding its Halal exports via value creation, new export markets and the development of the country’s Halal ecosystem while adding that the domestic market for Halal product...