DividendGuy67

Not only easier, please make it free.

2024-09-08 21:51

EngineeringProfit

At the expense of non-halal sectors? Malaysia’s heavy focus on promoting itself as a global halal hub, while beneficial in some ways, may divert attention and resources away from other sectors that have the potential for growth. For instance, non-halal industries, such as certain areas of technology, education, and tourism, may not receive the same level of support or investment, even though they could drive economic diversification and expansion. Neighboring countries with more balanced economic strategies can capitalize on these missed opportunities, leaving Malaysia behind.

2024-09-09 07:39

EngineeringProfit

Malaysia’s halal certification standards, though stringent, may not always align with international standards. This inconsistency can create complications for businesses that seek to export halal products globally, as they may need to obtain multiple certifications, each with different requirements. This increases operational complexity and costs, disincentivizing companies from operating in Malaysia, and causing them to look for alternative countries where international halal standards are more harmonized. The lack of alignment with global halal markets puts Malaysia at a competitive disadvantage.

2024-09-09 07:40

EngineeringProfit

The rigid and overly cautious nature of JAKIM’s halal certification process may stifle innovation, particularly in industries that rely on fast-paced product development, such as food technology or pharmaceuticals. Entrepreneurs and investors may be deterred from developing innovative halal products or services due to fears of being bogged down in regulatory red tape. Malaysia risks missing out on becoming a leader in innovative halal markets, which are increasingly important in the global economy.

This stagnation in innovation can reduce the economy’s ability to diversify and grow, further shrinking the pie for all players. For example, Thailand’s emphasis on halal tourism, technology, and food production is becoming increasingly attractive to investors who seek lower barriers to entry.

2024-09-09 07:41