Philippines to Launch Halal Plan to Tap Into Growing Muslim Market
The Philippines is set to launch a halal plan, aimed at catering to the increasing demand for halal products and services from the country’s domestic market as well as from the 57 member countries of the Organization of Islamic Cooperation (OIC). This plan will be unveiled in time for the Halal Convention Expo, which is scheduled to take place on November 21 at the SMX Convention Center.
According to Alfredo E. Pascual, Secretary of the Department of Trade and Industry (DTI), the goal over the next five years is to achieve P230 billion in halal trade and investments and create 120,000 jobs. Pascual also emphasized that halal is not only for Muslims, as it is increasingly being recognized by non-Muslim consumers worldwide due to ethical considerations such as hygiene, fair trade, and just financing.
With a Muslim population of 1.9 billion people, the global halal market is estimated to reach $7.7 trillion in market value by 2025, up from $3.2 trillion in 2015. Recognizing this potential, the Philippines aims to position itself as the most halal-friendly trade and investment hub in the Asia-Pacific region.
To achieve this, the DTI will lead a nine-government inter-agency task force in creating a roadmap for the halal industry. This roadmap will cover various sectors, including food, Islamic finance, halal-friendly travel and tourism, modest fashion, halal pharmaceuticals, and halal cosmetics.
The Halal Taskforce will include key agencies such as the National Commission on Muslim Filipinos, the Department of Agriculture, the Bangko Sentral ng Pilipinas, the Department of Tourism, the Department of Health, the Department of Science and Technology, the Department of Foreign Affairs, and the Mindanao Development Authority.
Micro, small, and medium enterprises (MSMEs) are set to benefit from the DTI’s halal initiatives. These include a P66 million partnership deal with the Bangsamoro Autonomous Region in Mindanao-Ministry of Trade, Investment, and Tourism to promote local halal goods and services provided by MSMEs and generate employment.
Invest Philippines Week will also be launched, which will provide support to MSMEs for halal industry development. The DTI is also working on certifying more slaughterhouses as halal and preparing over 100 MSMEs in Marawi to obtain halal certification as part of the economic rebuilding of the Maranao people.
The strategic halal plan follows bilateral talks between the Philippines and Malaysia, where both countries expressed their commitment to collaborate in building capacity in the halal industry, Islamic banking, and food security. The Philippines is also expected to sign a landmark agreement with the UAE, further strengthening economic ties between the two nations.
