GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Banking and Investments

 
  Share

UAE, 21 August, 2017– The Dubai Airport Freezone Authority (DAFZA) recently issued a comprehensive halal industries guide as part of its initiatives to contribute to Dubai's vision of becoming the capital of the Islamic economy for 2017-2021. The first-of-its-kind guide titled ‘Dubai: The Global Gateway to Halal Industries' describes Halal products in different sectors, highlighting several investment opportunities for foreign investors to contribute to enhancing the Islamic economy. 

The guide showcases the economic system of Dubai, which is supportive of growth and prosperity and is strongly committed to become a global capital for the Islamic economy. The new guide, which is printed with the ‘Dubai Font,' helps foreign investors explore and evaluate the various segments of the Halal market ranging from food and beverages, pharmaceuticals and cosmetics to tourism, fashion and design and retailing. Assessment forms and checklists are provided to help investors navigate the Islamic market and shape strategic pillars and courses of action.

In cooperation with the Dubai Islamic Economy Development Center (DIEDC) and Knowledge Partner DinarStandard, DAFZA's Halal specific guide aims to generate awareness and engage foreign investors with the opportunities floating in the Halal space, which will have an impact on the FDI flows. The guide provides a detailed explanation of each Halal related segment with a strong emphasis on the importance of Dubai as the premiere gateway to all OIC countries markets with excellent flight connectivity. It also details the UAE's Halal eco-system, showing procedures, transactions, standards, and services from the government entities, such as Halal certifications and accreditations, business license, consultations and other aspects.

DAFZA extends its appreciation to all the public and private sectors entities who contributed to the success of the guidebook. Among the government entities recognized by the guide are DIEDC, the Emirates Authority for Standardization and Metrology (ESMA), the Emirates Global Center for Accreditation (EGCA), and the Dubai Municipality. DAFZA also highlighted some of it elite clients who shared their successful Halal stories from Dubai, such as Abbot Laboratories, Hershey's, Natura Bisse, and Spanish Kits.

H.E. Dr. Mohammed Al Zarooni, Director General of DAFZA said: “This initiative is a key differentiator led by DAFZA to raise awareness and attract FDI's to boost the Halal industries growth from Dubai. The guidebook shed light on the successful strategy of the UAE and Dubai in enhancing foreign investors' experience in the sense of setting up business and issuing Halal certification, which is aligned with all national efforts to develop a strong Islamic economy. DAFZA has always been a key supporter to the national initiatives contributing to Dubai's vision of becoming an international investment hub. Our outlook for the UAE's Halal sector is very positive, as the UAE ranked first among Arab countries and second in the World Islamic Index for 2016.”

“Dubai's free zones have played proactive roles in developing the Emirate's vital sectors, including the Halal industry that has achieved an annual growth of 8 per cent according to official statistics. Due to its steady growth and consistent contributions to the national economy, the sector has been receiving unprecedented government support as well as posting strong trade flows due to the investment opportunities it facilitates, which advance the market among the ranks of global players. The knowledge DAFZA contributes through this guide complements its leading role in the economy that has spanned more than two decades. We look forward to presenting this guide to the whole world through seminars and our participation in international economic events, promote the Halal and attract foreign direct investment to Dubai, the Capital of the Islamic Economy,” H.E. added

According to the Global Islamic Economy Report 2015 - 2016, the Islamic economy is estimated to be worth USD 1.9 trillion and is forecasted to exceed USD 3 trillion by 2021 at an 8 per cent annual growth. The food and beverage industry ranks first among Muslims, with a total estimated value of around USD 1.17 trillion which is expected to grow to near USD 1.9 trillion by 2021. The next most popular sector among the Islamic community is clothing which is worth an estimated USD 243 billion. Islamic entertainment follows at an estimated USD 189 billion, then travel at about USD 151 billion, and halal medicines and cosmetics at USD 78 billion. As industry leaders continue to promote their ingredients used in Halal products, Halal industries are expected to be collectively worth around USD 213 billion by 2021.

ESMA recently reported that the Halal markets and related products are estimated to be worth over USD 2.3 trillion, with the food and beverage sector accounting for around 67 per cent of the total volume of trade at approximately USD 1.4 trillion. With the growth rate expected to reach 5.6 per cent annually by 2020, the annual Halal spend is expected to reach USD 1.6 trillion. Other statistics report that around 75 to 80 per cent of Halal foods is being imported from non-Islamic countries.



Posted by : GoDubai Editorial Team
Viewed 6991 times
Posted on : Monday, August 21, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Bentley Announces Finalists in 2017 Be Inspired Awards Program Recognizing BIM Advancements in Infra...
Next Story : Invest Group Overseas Commits Investment of over AED2 Billion by 2020 Starting with Launch of IGO 10...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Introducing Burberry Bespoke Fragrances
Making many tones from one
Celebrate the Month of Love with a Brighter Smile at The Smile Bar
Longchamp Spring/summer 2019 Show
A Chaumet Valentine's Day Sentimental jewellery
Persil Appoints Nancy Ajram as the new Regional Brand Ambassador
Tissot PRS 516 Alpine Limited Edition A sporting tribute
Malabar Gold & Diamonds opens a new showroom in Millennium Dubai Airport Hotel t...
The Preston watch collection by Coach
Global Village presents Scheherazade, a timeless tale of intrigue and adventure
Tag Heuer Demonstrates Watchmaking Mastery With Its New Carrera Calibre Heuer 02...
Turkish Airlines reached the 80.2% Load Factor in December 2018.
Beef Sushi- Love at first bite
Always take the front row with this 7.2” supersized smartphone screen
Celebrate Valentine's Day With a Quintessential Timepiece From D1 Milano
Walid Atallah's “Dream Dress”: The new revolution in the World of Fashion 2019
Eberhard & Co. Gilda makes an extraordinary Valentine's Day gift
Nissan Energy demonstration hits the spot
HUGO BOSS watches Legacy Casual Family collection
Scuderia Ferrari presents PILOTA Family Collection
Jewellery shoppers to keep winning big this Dubai Shopping Festival
Bollywood Actor Anil Kapoor to inaugurate 2 new outlets of Malabar Gold & Diamon...
Luxury jewelry house Dhamani 1969 launches exclusive CHRYSALIS collection
Third Edition of Al Shira'aa International Horse Show Concludes with Thrilling Finale
MALABAR GOLD - DSF Winner Photo for Release - Anandan Ganesh
Sawalef Perfumes unveils product range of delicate scents in 2019
Spring/Summer ‘19 Collection IL Gufo Underwater
Nicole Kidman at the Golden Globe Awards
Flying Grand Regulator now available in new colour combinations
Joyalukkas Shopper wins BMW Car in DSF Mega Promotion
Time for Unsung Heroes to Be Recognised With Citizen Campaign
Bollywood Actor Anil Kapoor inaugurated 2 new outlets of Malabar Gold & Diamonds...
Al Mouj Muscat pays tribute to Oman with Layers of Oman Exhibition
Dubai-based sports star Sarra Lajnef gets Women Leadership Award
Airbus boosts Intersec 2019 with Progressive Comms Technology
OMEGA reintroduces the iconic Calibre 321
The Kingdom of Saudi Arabia's Minister of Energy, Industry, and Mineral Resource...
Dawoodi Bohra Trade Expo begins at Expo Centre Sharjah
Audi turns the car into a virtual reality experience platform at CES
Opening Ceremony of Azerbaijan House in the United Arab Emirates
Citi UAE opens Citigold lounge in Abu Dhabi.
Alawwal bank becomes first Middle East firm to offer AI training for all staff
2020 Cadillac XT6 Makes Global Debut
The UAE-Kosovo Economic Forum launches a new phase of economic partnerships
The Region's Most Anticipated Shopping Festival Is Back at Burjuman
Central Bank of the UAE Holds its 1st Board of Directors Meeting for 2019
Global Energy Forum: His Excellency Khalid Al-Falih's address on day three
IPAF hosts 10th UAE Nadwa
Sultan Awards Oil & Gas Exploration Concession to Italy's Eni
UAE residents go on a two-week Camel Trek across the UAE desert