According to MATRADE, Malaysia’s halal industry is expected to reach a market size of US$113.2 billion by 20230.
In line with that, the MADANI government is allocating part of the RM421 billion Budget 2025 to growing the halal sector.
Bank Pembangunan Malaysia Berhad (BPMB) and SME Bank will offer special financing to halal MSMEs with available funds of almost RM600 million.
In order to speed up the issuance of halal certificates, JAKIM’s halal auditors will be increased by 100 people. The MYeHALAL system will also be improved to centralise 20 government agencies and 100 overseas halal certification bodies under one platform.
Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP) is also ready to guarantee up to 80% of halal SME financing with a guarantee value of up to RM1 billion ringgit.
Meanwhile, MATRADE is tasked with driving the development of the capacity of more halal companies to be more competitive with an allocation of RM20 million.
- Read more Budget 2025 content here.
