Saudi Press

Saudi Arabia and the world
Wednesday, Jun 04, 2025

Economic zone agency promotes halal industry in Philippines

Economic zone agency promotes halal industry in Philippines

The Philippine Economic Zone Authority has announced it is promoting the domestic halal industry in the country to tap into the rapidly growing regional and global markets.
With the world’s Muslim population accounting for about 1.8 billion people, the global halal market is estimated to be worth more than $7 trillion. A third of it is contributed by the halal food and beverage industry, but the market also covers recreation, travel, financial services, fashion, and many other sectors.

While the Philippines has been looking to expand the market presence of its halal-certified food, especially in Gulf countries, it has also set the development of halal tourism among its priority goals for 2023 to boost arrivals from the Middle East and its own Muslim-majority neighbors such as Malaysia, Indonesia and Brunei.

PEZA, which promotes the establishment of economic zones in the Philippines for foreign investment, recently signed agreements with the country’s central bank to expand the footprint of halal financial services in the country.

“Halal is not only a matter of food but it also includes the matter of halal in logistics tourism, manufacturing ... and financial accessibility,” Aleem Siddiqui Guipal, PEZA’s public relations manager, told the Philippine state broadcaster PTV earlier this week.

“We have signed a memorandum of agreement with Bangko Sentral ng Pilipinas to invite foreign Islamic banks and even local commercial banks to register.”

Foreign investment to create halal hubs in the Philippines has so far come from neighboring Malaysia and Saudi Arabia, Guipal said, but added that the agency was currently focused on the domestic ecosystem and promoting financing among local players, especially small and medium enterprises for the industry’s growth.

“The strategy that we are seeing is, first, to support SMEs (small and medium enterprises) and start-ups so that they will have a mechanism or platform to grow the domestic halal industry,” he said.

PEZA is also involving the relevant authorities mandated with developing the minority Muslim community in the Philippines.

Muslims constitute roughly 5 percent of the nearly 110 million, predominantly Catholic population of the Southeast Asian nation. They live mostly on the island of Mindanao and the Sulu archipelago in the country’s south, as well as in the central-western province of Palawan, and the capital, Manila.

“We also signed an MoU with the National Commission on Muslim Filipinos, and Southern Philippines Development Authority to support the halal industry in the Philippines,” Guipal said.

“It’s also a vehicle of our government to address the socio-economic challenges of the country, in meeting the needs of our countrymen, especially in the southern Philippines.”
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Global News Roundup: From Ukraine's strategic military strikes and Russia's demands and Tensions Escalate in Ukraine, to serious legal issues faced by Britons in Bali and Trump's media criticism, the latest developments highlight a turbulent landscape
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
×