Indonesia aims to become global hub of Halal industry
Indonesia, one of the countries with largest population of Muslims in the world, has great potential and opportunity to become a major producer of halal products in the world.
Indonesia has great potential to become a major producer of halal products in the world. Photo courtesy of The Halal Times.
According to the 2023 State of the Global Islamic Economy report, the country ranked third in the global Islamic economy index, up one place from the previous year.
Indonesia's Halal industry has achieved remarkable rankings in the world. It ranks second in the Halal food industry, third in the Muslim fashion industry, and fifth in the Halal pharmaceutical and cosmetic industry.
In particular, in the field of Muslim-friendly tourism, Indonesia is a leading country, according to the Global Muslim Travel Index.
The Halal industry in Indonesia is expected to continue to grow strongly, driven by increasing public awareness of Halal products and the Indonesian Government’s commitment to providing Halal products domestically.
At the recent ceremony to present Halal Industry Awards, Indonesian Minister of Tourism and Creative Economy Sandiaga Salahuddin Uno underlined the prospects for Indonesia to become the world’s Halal production hub.
Sandiaga held that to continue supporting businesses in the Halal industry and realize Indonesia's vision of becoming the world's leading Halal producer, it is necessary to design an effective, innovative, and sustainable cooperation strategy and efforts to foster connections of businesses, upstream and downstream industries, expand market access, and support exporting activities.
With the world’s largest Muslim population of over 225 million, Indonesia has a huge and promising domestic market for halal products. In addition, it is rich in natural resources that can be used to produce quality halal products. The country also has favourable geographical location with easy access to other Southeast Asian countries.
The Halal Product Assurance Organising Body (BPJPH) of Indonesia is working on several strategies to create easy, affordable, fast, and professional Halal certification services to meet the demand for Halal certification in 2024.
- Read More
Malaysia's economic reforms boost investment inflow
Malaysia has attracted substantial foreign investments, reaching MYR 22.2 billion ($5.16 billion) in the third quarter of 2024, the highest level for the same period since 2012, according to the UOB's Global Markets and Economics report.
Southeast Asia - Wed, October 23, 2024 | 11:22 pm GMT+7
Thai commercial banks slash lending rates to ease borrowers’ financial burden
Large local banks have announced reductions for their prime lending interest rates following the Bank of Thailand's (BoT) policy rate cut, aiming to ease the financial burden for borrowers.
Southeast Asia - Wed, October 23, 2024 | 11:21 pm GMT+7
Indonesia begins major oil, gas exploration in Sulawesi
Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block off the coast of Sulawesi.
Southeast Asia - Wed, October 23, 2024 | 11:19 pm GMT+7
EVN Finance secures $30 mln loan from Dutch bank FMO
EVN Finance JSC, a Vietnamese non-bank financial institution established by state utility Vietnam Electricity (EVN), has secured a $30 million loans from the Dutch Entrepreneurial Development Bank (FMO).
Companies - Wed, October 23, 2024 | 7:35 pm GMT+7
$39 mln central Vietnam software park gets resumption greenlight after two-year hiatus
An expanded software park valued at nearly VND1 trillion ($39.3 million) in the central city of Danang will come on stream again after a standstill period of more than two years.
Infrastructure - Wed, October 23, 2024 | 4:29 pm GMT+7
Northern Vietnam province okays 2 tech projects worth $83 mln from China
Bac Giang province has granted investment certificates to two Chinese-invested projects worth a total of $83 million to make solar panel components and batteries.
Industries - Wed, October 23, 2024 | 4:21 pm GMT+7
Dollar continues strengthening versus Vietnamese dong
The U.S. dollar continued to appreciate against the Vietnamese dong on Wednesday amid rising domestic forex demand and the greenback’s strengthening on global markets.
Banking - Wed, October 23, 2024 | 4:06 pm GMT+7
Vietnam allows 20% offtake from self-use rooftop solar power installations
Vietnam has officially permitted excess output from rooftop solar power systems to be connected to the national grid at no more than 20% of installed capacity.
Energy - Wed, October 23, 2024 | 3:01 pm GMT+7
HCMC can’t ensure food safety on its own: Vissan exec
Ho Chi Minh City cannot ensure food safety with unilateral traceability measures because unsafe products will continue to enter it from other regions, says Nguyen Phuc Khoa, chairman of Vietnam Livestock Industry Corporation (Vissan).
Companies - Wed, October 23, 2024 | 2:38 pm GMT+7
A tale of two trends in Vietnam: Digital transformation and net zero transition
Climate change, which is a severe challenge to Vietnam, also represents a huge opportunity for the country and its corporate sector, writes Tim Evans, CEO of HSBC Vietnam, in the era of booming digitalization.
Consulting - Wed, October 23, 2024 | 2:05 pm GMT+7
IMF revises down Vietnam’s 2025 GDP growth to 6.1%
Vietnam’s GDP growth can reach 6.1% in 2024 and 2025, according to the International Monetary Fund's (IMF) October edition of its World Economic Outlook report, released on Tuesday.
Economy - Wed, October 23, 2024 | 12:10 pm GMT+7
Carlsberg Vietnam aims for net zero carbon emissions in production by 2028
Andrew Khan, managing director of Carlsberg Vietnam, has reiterated the brewer’s commitment to sustainable development at the Nordic Day - the Green Economy Forum & Exhibition (GEFE) 2024 in Ho Chi Minh City, with a pledge to achieve net zero carbon emissions in production by 2028.
Companies - Wed, October 23, 2024 | 10:55 am GMT+7
Germany’s PNE ready to deploy $4.6 bln offshore wind power project in central Vietnam: CEO
Germany-based wind energy developer PNE AG has already made all necessary preparations to deploy the $4.6-billion Hon Trau offshore wind power project in Vietnam’s central coastal province of Binh Dinh.
Energy - Wed, October 23, 2024 | 10:19 am GMT+7
EV maker VinFast issues this year's second bond batch worth $157.5 mln in Vietnam
Hai Phong city-based electric vehicle (EV) manufacturer VinFast has raised another VND4 trillion ($157.45 million) worth of bonds in Vietnam as the company needs capital for its ambitious expansion plan.
Companies - Wed, October 23, 2024 | 9:40 am GMT+7
Indonesia boosts solar power development
Indonesia's Institute for Essential Services Reform (IESR) announced on Monday that the country’s installed solar power capacity has surpassed 700 MW. However, further acceleration is needed to meet global climate targets.
Southeast Asia - Wed, October 23, 2024 | 8:15 am GMT+7
Indonesia plans three programs to become developed nation
The Indonesian Ministry of Trade is set to carry out three key programs aimed at transforming Indonesia into a developed country.
Southeast Asia - Wed, October 23, 2024 | 8:12 am GMT+7
