29.4 C
Tuesday, June 25, 2024
- Advertisement -

Thai Ministry Launches Halal Industry Center to Capture Global Market

Must read

In a bid to tap into the flourishing global halal market, valued at a staggering US$2.3 trillion (approximately 84 trillion baht), the Ministry of Industry has initiated the establishment of the Thai Halal Industry Centre.

This strategic move seeks to position Thailand as the pivotal hub for halal products and services, especially as the market is projected to surge to US$2.8 trillion by 2025, largely propelled by the rapid growth of the global Muslim population.

The vision for this endeavor was articulated by Industry Minister Pimpatra Wichaikul, who outlined an ambitious plan aimed at elevating Thailand to the forefront of the regional halal industry. “Our objective is to solidify Thailand’s status as the premier hub for the halal industry in this part of the world,” remarked Minister Wichaikul. This endeavor encompasses multifaceted strategies including the establishment of the Thai Halal Industry Centre, the formation of the National Halal Industry Committee (NHIC), and an emphasis on enhancing the standards and capacities of local halal entrepreneurs.

Encompassing diverse sectors such as food, cosmetics, fashion, and tourism, this initiative holds significant promise. Notably, the food and beverage sector, constituting 63% of the total market value, dominates the landscape with the global halal food market alone valued at approximately US$1.4 trillion, projected to double in the next five years.

Formally enacted on April 17 by the Thai Prime Minister, who chairs the NHIC, the committee boasts representation from 21 key agencies pivotal in Thailand’s halal sector. Tasked with spearheading the development of the halal industry is Nalinee Taveesin, the Thai Trade Representative, while Minister Wichaikul assumes the role of vice-chair. The NHIC’s mandate encompasses policy formulation, leveraging Thailand’s distinctive soft power, and orchestrating cohesive strategies to propel the nation’s halal industry growth.

As reported by The Nation, this concerted effort seeks to catapult Thailand to the forefront of halal production and export within the region.

In its inaugural phase, the ministry’s focus is on three core missions: establishing the Thai Halal Industry Centre to bolster the local halal ecosystem, enhancing awareness of its potential both domestically and internationally, and fostering global trade and market expansion.

- Advertisement -

More articles


Please enter your comment!
Please enter your name here

- Advertisement -

Latest article