PH attracts P2.65-B halal investments

PH attracts P2.65-B halal investments

INQUIRER FILE PHOTO

MANILA – Department of Trade and Industry (DTI) Task Force Halal Industry Development Program Manager Aleem Siddiqui Guiapal said the agency is currently working on P2.65 billion worth of investments to stimulate the local halal sector.

During DTI’s budget hearing of House Committee on Appropriations on Wednesday, Guiapal said these projects were committed from 2023 to 2024.

He said these investments include a P200-billion halal-friendly hotel in Clark, a P350-million poultry facility in Tarlac, a P200-million halal certification for 500 micro, small and medium enterprises (MSMEs), and P100 million assistance for SMEs who are about to export and participate in upcoming trade missions.

READ: Halal is about life practices, not just dietary rules

Aside from attracting investments, Guiapal said that as of first quarter of the year, the Task Force has registered P32.8 million sales for halal goods both domestic and export markets.

“We will do more of this 2024,” Guiapal told the Philippine News Agency in a Viber message Thursday.

He said that under the Philippine Halal Industry Development Strategic Plan, the DTI is looking at a 20-percent growth in halal sales in 2024 from last year’s level.

“We’re looking at participating not just in MIHAS (Malaysia International Halal Showcase) and Gulfood, but also KSA (Kingdom of Saudi Arabia) and Turkey World Halal Forum, as well as Thailand Halal Assembly and (in) Abu Dhabi,” Guiapal added.

“If these all push through and we have the backing of our private sector, it’s (the sales target) reachable,” he said.

During the budget briefing, Lanao del Norte 1st District Rep. Mohamad Khalid Quibranza Dimaporo pushed for support in the local halal industry.

Dimaporo said boosting the halal industry will help in the government’s initiatives to alleviate poverty.

READ: Halal food is for everyone

“This is important because when you look at poverty indicators, they’re mostly scattered in the Muslim regions. Developing a thriving halal domestic industry will help us climb out of poverty,” the lawmaker said.

Under the DTI’s halal blueprint, the country targets to double Philippine-made halal certified products and services by 2028 to 6,000 from the current 3,000.

It also eyes to increase its share in the global halal industry, which is seen to reach US$7.7 trillion next year.

The strategic plan also targets to attract P230 billion in investments for the domestic halal sector and create 120,000 jobs not only for Muslims but also for non-Muslim Filipinos.

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