FROM banking to food to cosmetics, the Halal economy is constantly growing.

The food industry is one of the biggest markets in the Halal sector, as it caters to the entire 1.8 billion Muslim consumers globally. According to The State of the Global Islamic Economy Report 2015/16 published by Thomson Reuters, muslim consumer spending on food and lifestyle has reached US$1.8 trillion in 2014 and is projected to reach US$2.6 trillion in 2016. The Brunei Times journalist Zafirah Zaili recently interviewed Dato Seri Ibrahim Haji Ahmad Badawi, executive chairman of Brahim Holdings Sdn Bhd, to delve into his thoughts on the global food industry. You’ve been in the Halal food industry for almost 30 years now and have succeeded in building a business that expands to Japan and The Middle East. What should local companies here do to reach that level of success? There are so many opportunities in the market especially now that the global Halal market is expanding at such a fast rate. Even non-Muslim countries like Japan and China are stepping up their game and developing Halal products because they want to tap into this huge market. They do however have their own challenges and obstacles as they lack the knowledge and expertise on Halal. Brunei has an upper hand because it is well known for its strict Halal certification. Companies here should really take advantage of this and supply these countries with Halal products or partner up with them to supply expertise and knowledge on the process of Halal. The opportunities in the market are endless, it's all a matter of grabbing the ones that are viable and feasible for Brunei's capabilities. The bruneihalal brand is now available in the UK and is also planning to penetrate markets in Southeast Asia, Europe and the Middle East. What can they do to ensure a successful expansion? Being able to export to other countries is always a great accomplishment for a company and I believe that the bruneihalal brand has worked hard to be able to penetrate other markets. There are many other markets in need of Muslim partners and also experts in Halal and th

Update Date : 09/06/2016