KUALA LUMPUR: Malaysia retained the top spot in the Global Islamic Economy Index for nine consecutive years, beating 81 countries, said Prime Minister Datuk Seri Ismail Sabri Yaakob today.
He said the assessment was based on the State of the Global Islamic Economy 2022 report.
"The assessment is made based on economic digitisation initiatives, halal infrastructure development and increased government focus on food security and healthcare.
"This Global Islamic Economy indicator predicts that the halal industry will grow from RM8.8 trillion (US$2.09 trillion) last year to nearly RM14 trillion (US$3.27 trillion) by 2028."
He said this at the launch of the Malaysian International Halal Exhibition 2022 (Mihas 2022) here.
Ismail Sabri said there were more than 8,000 local companies recognised in the halal industry and they included 20 per cent of exporting companies.
He said Mihas was a testimony to the people's faith in the government's strategy to boost the halal industry domestically and abroad.
"The increase in sales in the halal sector boosts the gross domestic product (GDP), in addition to opening up more opportunities for industry players.
"The increase in sales from international trade fairs, such as Mihas, will have a spill over effect on the halal sector, and contribute to the success of Malaysian companies, especially micro, small- and medium-scale enterprises."
He said to break into new markets, local firms must improve on their branding and marketing.