Makati City and Philippine Businesses Collaborate with DTI to Establish Halal Hub, Tapping into $7 Trillion Global Market
The Philippine business community in Makati City, Metro Manila's central business district, is collaborating with the Department of Trade and Industry to establish Makati as a halal hub.
This initiative aims to expand the domestic halal industry, which is predominantly Muslim-owned, and generate around 120,000 jobs while raising 230 billion pesos ($4 billion) in investments by 2028.
Makati City is home to numerous banks, multinational and local corporations, and foreign embassies.
The Philippines, a predominantly Catholic country with a 10% Muslim population, seeks to capitalize on the growing demand for halal products and services both domestically and internationally.
The Department of Trade and Industry (DTI) in the Philippines signed a memorandum of understanding with PCCI Makati to collaborate on promoting the country's halal industry and tapping into the global halal market, estimated to be worth over $7 trillion.
PCCI Makati President Toots Cortez stated that the government needs to partner with the business community to effectively implement policies and promote the halal industry.
The focus will be on raising awareness among micro, small, and midsize enterprises (MSMEs), which make up 99.5% of businesses in the Philippines.
The Makati city in the Philippines is set to establish a Halal Hub to promote innovation and business in the halal sector.
The hub aims to facilitate connections between manufacturers, traders, buyers, distributors, and consumers in the industry, according to the DTI.
The initiative is expected to provide opportunities for Filipino entrepreneurs and international investors, fostering a robust economic ecosystem.
The vision is to position Makati as a central point for the halal industry, spanning food production, financial services, and more.
According to Cortez, the best approach to promoting halal is to group together and not require a large budget.
A number of Muslim embassies, restaurants, and major establishments are located in Makati City, attracting many Muslim tourists.
Cortez suggests that getting these establishments accredited as halal would be a good starting point to promote the industry in the city, as Makati is known to set trends for other regions in the Philippines.
Cortez believes that other areas will follow Makati's lead in promoting halal establishments.
Makati City is home to numerous banks, multinational and local corporations, and foreign embassies.
The Philippines, a predominantly Catholic country with a 10% Muslim population, seeks to capitalize on the growing demand for halal products and services both domestically and internationally.
The Department of Trade and Industry (DTI) in the Philippines signed a memorandum of understanding with PCCI Makati to collaborate on promoting the country's halal industry and tapping into the global halal market, estimated to be worth over $7 trillion.
PCCI Makati President Toots Cortez stated that the government needs to partner with the business community to effectively implement policies and promote the halal industry.
The focus will be on raising awareness among micro, small, and midsize enterprises (MSMEs), which make up 99.5% of businesses in the Philippines.
The Makati city in the Philippines is set to establish a Halal Hub to promote innovation and business in the halal sector.
The hub aims to facilitate connections between manufacturers, traders, buyers, distributors, and consumers in the industry, according to the DTI.
The initiative is expected to provide opportunities for Filipino entrepreneurs and international investors, fostering a robust economic ecosystem.
The vision is to position Makati as a central point for the halal industry, spanning food production, financial services, and more.
According to Cortez, the best approach to promoting halal is to group together and not require a large budget.
A number of Muslim embassies, restaurants, and major establishments are located in Makati City, attracting many Muslim tourists.
Cortez suggests that getting these establishments accredited as halal would be a good starting point to promote the industry in the city, as Makati is known to set trends for other regions in the Philippines.
Cortez believes that other areas will follow Makati's lead in promoting halal establishments.
Translation:
Translated by AI
