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Opportunities and Potential
May 16, 2007 - 10:09am — ramlie.ladis
The credibiity of Brunei Halal Certification will bring confidence and trust to not only Muslims worldwide but also can assure the Non-Muslim market about the cleanliness and quality aspect of these products as they undergo highly strict procedures under the certification process.
Looking at the world population growth of Muslims at the moment, which is close to two Billion, opportunities in the trade sector certainly has a big potential. It is estimated that the Halal Industry currently has a value of US$560 billion as a whole and US$150 billion specifically for Halal Food Industry alone. This project gives opportunity for investment both inside and outside the country whilst strengthening bilateral ties between Brunei Darussalam with its partnering countries through the Halal certification services, offering joint-venture opportunity and Foreign Direct Investment. In a simple way of understanding, the Brunei Halal Brand basically acts as passport for businesses to penetrate into the lucrative world Halal industry. But before gaining entry, potential businesses have to pass a strict approval process to gain the Brunei Halal Brand which makes it a beauty; especially in convinving customers of the Premium quality of these Brunei Halal Branded products. To show that Brunei Darussalam is very committed in developing the Brunei Halal Brand, the country has provided an area of 263 ha which is currently being developed as Agro-Technological Park for investments in Brunei. The park will support activities under the Brunei Halal Brand as area will then be used to provide sites for research activities and support services, including providing sites for the development of Industries through Joint-venture and Foreign Direct Investment. A 'Halal Science Center' too will be established within the park. |
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