KUALA LUMPUR: Experts believe that for Bumiputera entrepre-neurs to expand their footprint in the halal export market, the government needs to help with capacity building to support their growth.
Nusantara Academy for Strategic Research senior fellow Dr Azmi Hassan concurred with Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi's calls for these entrepreneurs to tap segments like ingredients, cosmetics, and pharmaceuticals, instead of solely focusing on food and beverage (F&B).
"Halal goes beyond food and drinks. Most Bumiputera are Muslims and, therefore, the leverage is there.
"It also gives a good perception to consumers when the halal certificate comes from Malaysian Bumiputera Muslims. These factors give great advantage to the entrepreneurs exploring segments beyond F&B," he said.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said efforts to push Bumiputera entrepreneurs to expand their reach in the halal export market was an ongoing affair that needed various support.
"We need to ensure that capacity building, such as training and development, as well as halal certification among Bumiputera, have been implemented.
"The government needs to ensure that the relevant agencies will work together in providing assistance in the forms of grants, training and access to microfinancing that are readily available to Bumiputera entrepreneurs."
In an interview with Bernama, Zahid urged Bumiputera entrepreneurs to expand their reach in the global halal export market, moving beyond the F&B sector.
He said the global demand for halal products was steadily increasing and was expected to be worth US$5 trillion by 2030.
He said 87 per cent of halal ingredient producers were currently controlled by non-Bumiputera entrepreneurs.
Afzanizam added that it was imperative for the government to revive the agri-food sector.
"Agri-food sector has always been a quick win for Bumiputera entrepreneurs and given that the country has been relying on imports for domestic food consumption, it is a strategic imperative for the country to revive the agri-food sector."