Marcos to explore halal industries, Islamic banking in Malaysia state visit
MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. on Tuesday said that he planned to explore the halal industry and Islamic banking during his state visit to Malaysia.
Addressing his Cabinet at Villamor Airbase in Pasay City before his departure, Marcos said that he wanted to explore avenues of mutual growth for the two countries’ economies.
“In order to assist our nation’s trajectory of economic growth and to meet our economic target of 6.4 percent year-on-year GDP growth this year, my visit will focus on the renewed partnerships in the fields of agriculture and food security, digital economy, tourism, and people-to-people exchanges, as well as explore new avenues for cooperation, particularly in areas of the halal industry and Islamic banking,” said Marcos in his speech.
The President said that the halal industry is expected to grow into a trillion-dollar industry in the international market.
“Malaysia is one of the global leaders in this sector, and this visit aims to forge synergies with Malaysia for the Philippines to enjoy a share of this market,” said the President.
During his state visit, Marcos is set to meet with Malaysian King Al-Sultan Abdullah Sultan Ahmad Shah, as well as the country’s business leaders.
Marcos will also meet with the Filipino community in Malaysia.
“Malaysia is a host to a thriving Filipino diaspora, many of whom left their families to find work and live in Malaysia. I will be meeting our hardworking kababayans in Malaysia to personally show the nation’s care and protection and reassure them that the government is continuously working to ensure their safety and well-being,” said Marcos.