Malaysia Continues Its Reign At The Top Of The Global Islamic Economy Indicator

Malaysia Continues Its Reign At The Top Of The Global Islamic Economy Indicator

It appears that Malaysia has managed to retain its palace at the top of the Global Islamic Economy Indicator (GIEI) once more. This marks the nation’s 10th consecutive year at the top of the rankings, a phenomenal feat to say the least.

The GIEI is a global ranking system comprising 81 countries. Among these, Saudi Arabia, Indonesia, and the United Arab Emirates (UAE) are trailing close behind Malaysia. 

According to reporting by The Star, the Halal Development Corporation Bhd (HDC) stated that Malaysia’s consecutive top placement showcases the nation’s enduring commitment to the Islamic economy since the inception of the State of Global Islamic Economy Report (SGIE) in 2013.

“In the 2023 report, Malaysia secured first place in Islamic finance, halal food, and media and recreation, coupled with a commendable second-placed ranking in modest fashion, third spot in pharmaceuticals, and fifth in tourism,” said HDC’s chairman, Khairul Azwan Harun.

“Malaysia pledges to uphold its leading position with the implementation of the Halal Industry Master Plan (HIMP 2030), embracing technology, and digitising the halal ecosystem,” he added.

The SGIE is prepared by Dinar Standards, a US-based research and advisory firm that specialises in government innovation, the global halal economy, and social impact spaces.

As Malaysia moves forward, the HDC says that the nation anticipates continued leadership that is driven by year-on-year growth in the halal foods sector. This is further supported by an increasing worldwide demand for halal products.

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