PHILIPPINES EYES GROWTH IN HALAL INDUSTRY, BOOSTS ISLAMIC FINANCE INVOLVEMENT

The Philippine government is accelerating the development of its halal industry and expanding Islamic banking as part of a strategy to integrate more with the global economy, Philippine Ambassador to Indonesia Christopher Montero said at the Indonesia Economic Summit.

With the third-largest Muslim population in Southeast Asia, the Philippines aims to tap into the growing $2.99 trillion global halal market by harmonizing certification, improving product traceability, and promoting halal zones and industrial parks.

Efforts are also underway to expand Islamic finance, particularly in Muslim-majority areas like the Bangsamoro Autonomous Region, to improve financial inclusion and attract investment.

The Philippines’ participation in regional initiatives such as the B57+ Asia Pacific Governance Council is expected to strengthen trade ties with the Islamic world and open opportunities for exporters.

These measures support Manila’s long-term goal of becoming a competitive halal production hub in the Asia-Pacific region.

Source: PhilNews24 | March 1, 2026