Kuala Lumpur – The Malaysian capital, Kuala Lumpur, will host the activities of the nineteenth session of “MIHAS”, the largest halal exhibition in the world, from September 12 to 15, 2023, at the Malaysia International Trade and Exhibition Center (MITEC), with the participation of 100 countries, 600 speakers, and 4,000 exhibitors, and 300 ministers, CEOs and international businessmen, under the slogan “Paving the Halal Path,” aims to stimulate and expand trade between participating countries, support the local economy and enhance global sustainability.
The exhibition’s activities discuss the current challenges facing the halal industry, stimulating it locally and globally, encouraging innovation, and sustainable initiatives to lead the steady growth of the halal economy, as revenues from the Malaysian halal industry are expected to reach 201.02 billion ringgit by 2025, while they reached 128.8 billion ringgit in 2021. While World Bank data expected the value of the global halal economy to reach 5 trillion US dollars in 2030.
Hosted by the Ministry of International Trade and Industry (MITI) and organized by the Malaysian External Trade Development Corporation (MATRADE), the exhibition offers a wide range of halal products, namely: food and drink; food technology and packaging, e-commerce; cosmetics and personal care, pharmaceuticals and medicine, and fashion. ; Education; Islamic finance and fintech; Retail; Muslim-friendly hospitality and tourism; Media and entertainment; and Islamic arts and crafts.
The exhibition will include special sessions for businessmen and B2B meetings, an artificial intelligence platform, and other events that connect buyers and sellers in various commercial sectors, in addition to the international supply program INSP MIHAS, which was launched by the Malaysian government, and aims to promote the growth of the halal economy, and how to benefit from the demand. The growing global demand for halal products and services, in addition to strengthening Malaysia’s leadership role by activating the capabilities available for the halal industry, as international participants in the program are keen to obtain products such as: food and drink; food and packaging technology, e-commerce; cosmetics and personal care, pharmaceuticals and medicine, fashion; education; Islamic finance and financial technology; retail; Muslim-friendly hospitality and tourism; media and entertainment; and Islamic arts and crafts.
Mihas 2023 also presents the HIMP 2030 programme, which monitors analyzes of halal industry trends and industry developments based on focus sectors, while at the same time providing economic growth opportunities over the next decade and beyond, while revenues from the halal industry in Malaysia are expected to reach 113.2 billion. $ by 2030, with a contribution to GDP of 8.1% by 2025, and Malaysia maintaining its leading position in halal products and services.
Frost & Sullivan, a 60-year-old leading global information and growth consulting firm, expects the value of the global halal economy to reach $5 trillion in 2030, at a time when the number of Muslims in the world currently stands at 1.9 billion. population, while the number is increasing exponentially, which contributes to providing great growth prospects and many opportunities for Islamic countries.
It is noteworthy that “Mihas” 2022 attracted more than 30,000 merchants and visitors, and achieved total sales amounting to 2.36 billion Malaysian ringgit. The most prominent sales were financial services, agricultural products, ready-to-eat foods, beverages, and palm oil products, while Malaysian halal exports increased by a significant rate of 63.8% to reach 59.46 billion Malaysian ringgit in 2022.