Small and medium-sized entrepreneurs (SMEs) should seize the lucrative potentials within the burgeoning global Halal market as it is the epitome of the Blue Ocean strategy, said Dato’ Mukhriz Tun Mahathir, deputy minister for the Malaysian International Trade and Industries Ministry, in an exclusive interview published in The International Halal SME Report Directory 2011/12.
“When a market seems saturated, the next best thing to do is to create a new market. The Halal industry is exactly that,” said Dato’ Mukhriz. He said that although Malaysia may be a bit behind as Halal producers, it has done well in propagating the idea and growing a global industry from scratch to one that is now worth in excess of USD 2 trillion a year, such as the new publication.
It estimates that the global Halal food market alone is worth US$720 billion (at 2009 prices), while Malaysia’s Halal food market is worth US$12.21 billion, or 6.3% of its nominal gross domestic product of US$192.82 billion (2009 prices).
“We are now seeing Malaysian SMEs exporting to GCC countries, when prior to this they would have no chance of doing so because they would have to compete with the Europeans and the rest. Because of Malaysian Halal logo, they are now at par with the best of them,” he said.
“The point that I’m making is that, all businesses and SMEs have some room to play in this industry, and it is an extremely lucrative one; it allows you to access the global markets, and the perception is that this is a premium as compared to other products. I think this is the best thing that has ever happened to SMEs!” he added.
In that same interview, Dato’ Mukhriz Mahathir also touched on the various plans and programmes undertaken by Halal Industry Development Corporation (HDC), an agency under his Ministry tasked to ensure the development of Halal industry in an effective and orderly manner.
He also provided some updates on the Malaysian Halal park programme, budget allocation by the Government for the overall Halal industry, as well as training and awareness efforts undertaken to prepare local SMEs to be Halal-certified and penetrate the global arena.
These and more are just a fraction of the expert report, analysis and interviews published within the International Halal SME Report Directory 2011/12, which made its debut at the Halal Fiesta Malaysia (HALFEST) last week at the Putra World Trade Centre (PWTC), Kuala Lumpur.
In addition to Dato’ Mukhriz’ interview, other key features include a global Halal industry overview that dissects opportunities within five key Halal sectors of agriculture, manufacturing, services, tourism and finance; an economic outlook report for the Halal industry for the year 2011/12, which is equipped with Muslim population’s consumption data by country, region and sector, as well as Halal market reports for Russia, United States and India.
Complementing the hard facts and figures, the 208-page A4-sized publication also highlights 60 key industry players within its premium listing section, as well as over 1,000 free listing of Halal-certified manufacturers of food, health products, ingredients, chemical, flavouring as well as many other related industries from all over the world.
“Muslims comprise one of the fastest growing consumer markets in the world and represent a major growth opportunity for businesses around the world. If your business is ready to penetrate this challenging but lucrative market, then this is the book to have as it features only the most outstanding suppliers and manufacturers of Halal products and services from around the world,” said Kamarul Aznam Kamaruzaman, Editorial Director of H Media, publishers of the book.
Aiming to give senior decision makers an up-to-date view of the ever-changing global Halal landscape, the first-of-its-kind publication is also backed by proprietary web portals HalalSME.com and HalalMedia.net, to provide real value content for both the readers and the businesses alike, helping to promote their brand names and Halal statuses within the global arena.
Quick Reader (QR) codes were also used extensively throughout the publication, directing mobile users to respective corporate websites or blogs, as well as premium content such as interview videos. More cool features are being planned with the sole aim of providing local Halal SMEs a true-to-nature globalised promotional platform, by utilising the powers of Internet and social networking.
The book is available at major bookstores and premium retail outlets across Malaysia and selected cities around the world. For online purchases using credit card or PayPal, log on to http://ihsmerd.halalsme.com/purchase.
For more info, please contact, Kamarul Aznam Kamaruzaman, Editorial Director, H Media | M: +6012-6346760 | E: firstname.lastname@example.org