Economy
Thailand Targets Global Halal Market Growth
Thailand is positioning itself to capture a larger share of the global Halal market, which is projected to reach $3.56 trillion, through new collaborations between NCC and Chulalongkorn University.
According to a report by Matichon Online, Thailand is actively seeking to expand its footprint in the global Halal industry. With the international Halal market projected to reach a valuation of $3.56 trillion, N.C.C. Management & Development Co., Ltd. (NCC) has partnered with the Halal Science Center at Chulalongkorn University to bridge the gap between Thai business innovation and global demand.
This initiative aims to leverage Thailand's scientific expertise in Halal standards to enhance the competitiveness of Thai products on the world stage. For residents and travelers, this development signifies a potential increase in the availability and quality of certified Halal goods and services within the country. As Thailand strengthens its infrastructure for Halal certification and innovation, consumers may see a broader range of products that meet these specific standards in local markets and export sectors.
While the partnership focuses on business and innovation, the long-term impact on the domestic economy and the specific timeline for the rollout of new products remain to be confirmed. Stakeholders are currently focused on connecting Thai enterprises with international trade opportunities, but further details regarding specific product launches or regulatory changes have not yet been disclosed.
