Halal Industry as an Epicentrum of Growth with Impressive Tendencies to Strengthen the National Economy

Abstract

In year 2022, the halal industry experienced significant growth between Malaysia and China with Malaysia's exports of halal products reaching an impressive 7.11 billion Ringgit. This marked a remarkable increase of 54.9% from the previous year. China is emerging as an important market, accounting for 12% of Malaysia's total halal exports. This collaboration aims to facilitate easier and more efficient Malaysian halal exports. Products to China drive growth and greater collaboration in the halal trade. Both the business world and consumers will benefit from this strategic move. So what about Indonesia, which is the largest Muslim country in the world, in playing the role and developing the halal industry as the epicentrum of growth which is very enlightening. The data shows that Indonesia has great potential to become the epicenter of the growth of the global halal industry. As a country with the largest Muslim population in the world, Indonesia has a significant comparative advantage in developing the halal industry. The role that Indonesia can play in developing the halal industry in Halal Food and Beverage Production by focusing on meeting strict halal standards, Indonesia can produce high quality halal products that can be exported to the global market. The Indonesian Halal Certification Center can strengthen the role of the Halal Product Assurance Organizing Body (BPJPH) as a trustworthy halal certification authority that is recognized internationally. Likewise with Research and Innovation, Indonesia can invest in research and development of halal products. This includes the development of halal raw materials, production technology, and innovation in the food and pharmaceutical industries. The development of Halal Special Economic Zones which are focused on the halal industry can also create a conducive environment for halal companies to grow and develop. and including Industry Exhibitions and Events such as the Indonesia International Halal Lifestyle Expo and Conference (INDHEX) and the World Halal Summit, have become important platforms for companies to promote their halal products and establish international cooperation. By taking these steps, Indonesia can play a significant role in the growth of the global halal industry, creating jobs, increasing exports, and strengthening its national economy while meeting the needs of Muslims around the world for trusted halal products.