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Wednesday, May 29, 2024

Gov’t to double Halal-certified items in 4 years

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The government seeks to double the 3,000 Halal-certified products to 6,000 in the next four years to transform the Philippines into a Halal hub in the Asia-Pacific region.

Trade Secretary Alfredo Pascual said that under the Philippine Halal Industry Development Strategic Plan 2024-2028, the Philippines aims to attract P230 billion in foreign investments and generate 120,000 new jobs over four years.

“Our approach invites global participation in Philippine industry development and encourages major local manufacturers to produce Halal goods, thus meeting the rising demand at home and abroad,” he said at the launch of the strategic plan Tuesday at the World Trade Center in Pasay City.

“We aim to enrich supermarkets shelves in foreign countries with Philippine Halal products. The confidence in our plan stems from undeniable statistics that tell a compelling story of growth and potential,” Pascual said.

The DTI noted how the Muslim population of about 1.9 billion is projected to grow to 2.8 billion by year 2050.

The Philippines is positioning itself as a leading provider of Halal goods and services to partake of the two-fold increase in Halal trade to $7.7 trillion by 2025 from $3.2 trillion in 2015.

Pascual said Halal is an expansive ecosystem that spans Islamic finance, Muslim-friendly travel, modest fashion, pharmaceuticals, cosmetics and media and recreation aligned with Islamic principles.

The industry extends beyond production to include logistics, marketing, packaging, and branding—integral components of the industry’s value chain.

Big economies in the region and around the world globe including Thailand, Singapore, Italy, France, Germany, the Netherlands, the United Kingdom, Belgium and the United States are starting to recognize the immense potential of the Halal market.

The DTI recently formed the Special Task Force For Halal Industry Development as part of its commitment to champion the Philippines as a halal-friendly destination.

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