Country Economic Work for Malaysia - Islamic Development Bank

Manufacturing Practices (GMP) certification scheme for manufacturers of food products and
food related products and other recognized safety/quality standards and compliances. These
standards are applied to food processing plant, hotel operations, pharmacies, cosmetics,
medical and many other businesses. The growth of Halal food market represents a significant
potential for international companies, not only in Muslim countries but also, in western
markets with significant and growing Muslim populations among whom Halal observance is
on the increase.
Halal Industry Policies in Malaysia
150. Malaysia has aspirations to become a global hub for the production and trade of
Halal products and services, as outlined in the Third Industrial Master Plan (IMP3)
2006-2020. As a modern Islamic country at the forefront of economic development, Malaysia
has unparalleled potential. With a progressive living and operating environment boasting
political stability and consistent economic growth, Malaysia is fast becoming a business hub
Halal industry as it has unique advantages in developing and promoting Halal products and
services industry for following reasons:
Free Market
151. Malaysia is a progressive Islamic country. It is business-friendly to Muslims and non-
Muslims alike, making it a Halal industry advantage. From Halal product traceability to
Islamic finance facilities, Malaysia is able to provide end-to-end Halal services. Furthermore,
Malaysia strategically located country within Asia Pacific, providing easy in-roads emerging
markets in Asia and a total population larger than 500 million. Halal business owners will
enjoy easier trade and market access to IDB/OIC member countries.
Full Government Support
152. Malaysia has a pro-business Government, offering tax and other investor incentives.
In a bid to create a conducive operating environment, the Government has introduced policies
and an efficient institutional infrastructure to develop Halal industry.
Rich Talent and Skills
153. The Malaysian talent pool is rich with young, educated and productive workers with
skills necessary for science- and service-based industries. With Malaysia being a multi-racial
and multi-lingual country made up of predominantly Malays, Indians and Chinese, Halal
business owners will find no shortage of bilingual talent skilled to enrich trade relations with
IDB MCs and non-MCs.
Strong Infrastructure
154. The topography of Malaysia's economic landscape is made up of strong infrastructure
such as a network of well-maintained highways and railways that links to efficient seaports
and world-class international airports. With Malaysia's commitment to industrial development
and free trade, the Government has established five Economic Growth Corridors, in addition
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