Philippines to Launch National Halal Strategy
Highlights: The Philippines is set to launch a National Halal Strategy before the end of 2023, with the aim of generating P230 billion ($4 billion) in trade and investments and creating 120,000 jobs over the next five years. This strategy is part of the country’s efforts to expand its involvement in the halal economy due to the growing Muslim population. Trade and Industry Secretary Alfredo Pascual highlighted the significant growth potential in the global halal market, estimated to reach $7.7 trillion by 2025. The plan not only focuses on halal food but also includes Islamic finance, halal-friendly travel and tourism, modest fashion, halal pharmaceuticals, and cosmetics. Additionally, the Philippines seeks to address the demand for halal products from both the domestic market and countries in the Organization of Islamic Cooperation. This initiative aligns with the government’s priorities, including regional development, food security, support for small and medium enterprises, and skills development. Furthermore, the Philippines is working on agreements for halal training and international collaborations, positioning itself as a gateway to the Asia-Pacific region.
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