Indonesia eyes to become big investor in global halal industry
Indonesia, with the largest Muslim population worldwide, should become a major player in the global halal industry rather than merely a market target of this industry, according to the Indonesian People's Consultative Assembly (MPR) speaker.
Indonesian People's Consultative Assembly (MPR) speaker (Source: Antara)
Jakarta (VNA) - Indonesia, with the largest Muslim populationworldwide, should become a major player in the global halal industry ratherthan merely a market target of this industry, according to the IndonesianPeople's Consultative Assembly (MPR) speaker.
MPR speaker Bambang Soesatyo said on May 25 that in January,Vice President Ma'ruf Amin initiated the Global Halal Hub ecosystem as part ofthe national synergy movement to make Indonesia as a global halal producer hubin 2024.
He cited the State of Global Islamic Economy Report2020-2021 as saying that global consumption of halal products is expected toincrease, from 1.17 trillion USD in 2019 to 1.38 trillion USD by 2024.
Meanwhile, the consumption of Islamic fashion globally isexpected to rise, from 277 billion USD to 311 billion USD, he remarked.
The six major industries in the global halal industry are food, fashion,tourism, cosmetics, pharmacy, and new and renewable energies, he stated adding that Indonesia can aim to dominate the food and fashion industries.
Citing Bank Indonesia's research, Muslim food and fashionindustries touch all strata of society, right from farmers to Islamic schoolsand major corporations, he added./.
Indonesian Deputy Minister of State-Owned Enterprises Pahala Nugraha Mansury said on February 3 that the potential for Indonesia's halal product exports has reached around 3.6 billion USD.
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Indonesian People's Consultative Assembly (MPR) speaker (Source: Antara) 
