Dubai PR Network, Online Press Release from Dubai and Middle East
 
Business, Banking and Investments(Banking & Investments)
Filter PR by
  
DAFZA Launches Second Edition of the Halal Guidebook
 
DAFZA Launches Second Edition of the Halal Guidebook
 Halal investment will have a lasting impact on regional economy
 
Dubai, United Arab Emirates – September 09, 2020: The Halal economy is estimated to be worth $3.2 trillion by 2024, according to the newly launched second edition of the Halal Guidebook titled ‘Dubai – A Global Gateway for Halal Industry: A Step-by-Step Guide.’ The Guidebook unveils key trends that will have a lasting impact on the regional economy and assists in providing a clear picture of the international and national Islamic economy.
 
According to the State of the Global Islamic Economy Report 2019/20, the Islamic economy was valued at $2.2 trillion in 2018, which accounts for 12% of the global spend in the food, pharmaceutical and lifestyle sectors. The spending power has also witnessed a significant increase and is set to grow by 6.2 percent compound annual growth rate (CAGR). Ranking first in the Guide Book is the food and beverage industry, with a total estimated value of around $1.4 trillion, the sector is expected to grow to near $2 trillion by 2021. Modest fashion is the second most popular sector, valued at $283 billion. Islamic-themed media, Halal pharmaceuticals and Halal cosmetics have also been identified by the Guidebook as key players in the economy. 
 
Launched in 2017, the first edition of the guide has proven to be an asset in achieving the long-term plans for the Halal economy sought out by local and regional leadership. Developed by DAFZA with the support of The Dubai Islamic Economy Development Centre (DIEDC), The Halal Trade and Marketing Centre (HTMC) and DinarStandard, the second edition of the Guidebook outlines Halal Islamic economy growth opportunities, including its enabling ecosystem, Halal trade flow, and the Halal certification and compliance process.
 
The Guidebook also outlines the extent to which the Halal sector has been affected by the intensified measures aimed at combating COVID-19. Within the Halal economy, the most challenged sectors have been travel, Islamic finance, and modest fashion while media and recreation provide strong opportunities. Food supply chain has also been severely disrupted but was quickly met with resilience from the Halal market economies that have consistently focused on bringing the supply chain closer to home by either investing in domestic production or finding closer regional supply chain partners.
 
Ms. Amna Lootah, Assistant Director General, DAFZA said: “In recent years, the UAE has intensified efforts aimed at expanding the economy with several initiatives and growth plans that have ensured a more diverse and vibrant Halal sector. Such activities have established Dubai and the wider UAE as one of the world’s most important business hubs and facilitated the progress of various industries including the emirate’s Islamic economy. So much so that investments in the Halal economy have recorded growth of 399% in 2018/19, with a value of $1.2 billion” 
 
“The guide details the opportunities around core Halal economy sectors, outlines trends and provides strategic insights that will enrich the knowledge of entrepreneurs and companies keen to invest in the Islamic economy and capitalize on its promise of enduring growth and prosperity.” 
 
Other contributors include Emirates Authority for Standardization and Metrology (ESMA), Emirates International Accreditation Centre (EIAC), Arab Brazilian Chamber of Commerce (CCAB), Al Islami Foods, Salaam Gateway, Fonterra, Abbott Labs, SGS Gulf Limited and CDIAL Halal.
 
Ms. Amna Lootah thanked all supporting entities that have since provided infrastructure, services, network and capabilities necessary to compile the guidebook and in turn, lead the future of the Halal industry.
 
“Dubai has an ideal location in the heart of the regional and global Islamic economy system, two hours distant by air from 455 million Islamic consumers, which is equivalent to US $587 billion of the value of the halal consumption market. The Emirate of Dubai is also the trade center for 57 countries of the Organization of Islamic Cooperation (OIC), which accounts for $296 billion of halal imports, according to 2018 results.” Ms. Lootah concluded
 
Leading global players across industries are beginning to participate in the Halal economy with several multinational cooperation’s such as Nestlé, Cargill, Hershey’s, BRF, and Abbott increasing their participation by actively addressing Halal food opportunities.
 
For companies looking to participate in the Halal economy, DAFZA offers a wide range of services and capabilities to ensure a smooth set-up of business operations. The free zone provides access to a wide variety of government and business services in a single centralized location. It also provides companies within the Halal economy with advanced infrastructure for their operations, which boosts their growth. 


Posted by : Dubai PR Network Editorial Team
Viewed 10748 times
PR Category : Banking & Investments
Posted on : Wednesday, September 9, 2020  11:37:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : COVID-19 Pandemic will Lead to Increased Demand for Business...
Next Story : EMAS Partners with Eaton in Egypt
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
GEMS Education Teacher Wins Brand New BMW X2 after Signing Up for an Emirates NBD Bank Acc... [18167-Views]
Max Factor X Priyanka Chopra Jonas: Matte Confidence Look [12956-Views]
More Than Half of UAE Residents Affected by Heart Disease [10402-Views]
Major Saudi Aerospace Players to take part at Dubai Airshow 2021 [10250-Views]
Ministry of Health marks World Patient Safety Day 2021 [10213-Views]
Curly Hair Girls Rejoice! Cult Haircare Brand SASHAPURE Launches in the Middle East [10029-Views]
Ogilvy Names Ben Messiaen Chief Client Officer for EMEA [5822-Views]
Louis Moinet Moon Race - A Journey through Space [3579-Views]
Etihad Stuns Visitors to Mall of the Emirates With 50% Flight Discounts [3321-Views]
Samsung's New Galaxy Z Fold3 5G Receives Exceptional Response in the Pre-Order Phase [2825-Views]
Block the Gold Rate with Malabar Gold & Diamonds' by Paying just 10% Advance [2804-Views]
Oris Big Crown ProPilot Rega Fleet Limited Edition [2690-Views]
New Behind-The-Scenes Footage Shows Range Rover Sport SVR Preparing to Make an Impact in N... [2673-Views]
SEHA Integrates UAE Pass With Its Mobile App and Patient Portal [2657-Views]
HFZA's Stand at Big Five Woos Investors with Exclusive Privileges and Offers [2599-Views]
2021 Green Good DesignTM Award [2554-Views]
Lenovo Introduces the Powerful and Flexible ThinkEdge SE70 Edge AI Platform [2534-Views]
EETEN Urban Kitchen's Terrace Opens on Wednesday [2513-Views]
Sharjah International Award for Refugee Advocacy and Support Calls for Nominations for 202... [2513-Views]
UAE Home to Prominent Innovation Districts: Middle East Designated Leading Innovation Hub ... [2509-Views]
Gulf Youth Sport Expo to Bring Together Leading Industry Experts for Discussions and Netwo... [2476-Views]
Etisalat Reasserts Dominance as World's Fastest Mobile Network for the Second Consecutive ... [2398-Views]
Majid Al Futtaim to Hire 3000 Emiratis In response to “NAFIS” [2378-Views]
Fall in Love with THAT Concept Store's Fall-Winter Collection [2325-Views]
Jaguar Land Rover to Provide Fleet of All Electric Vehicles for World Leaders at Cop26 [2312-Views]
 
RSS Facebook Twitter LinkedDin DubaiPRNetwork.com on Instagram
 
Top Sections
 
Top Stories