Indonesia should harness its vast halal industry market: Jokowi

Jakarta (ANTARA) - President Joko Widodo (Jokowi) emphasized the need for Indonesia, home to about 236 million Muslims, to capitalize on its vast potential as a global halal industry market.

"We know that Indonesia has 236 million Muslims, placing it as an enormous market. This is a huge potential that we need to make the most of so that it will not be seized by other countries instead," he remarked.

The president made the statement in his speech at the inauguration of the Indonesia Islamic Center Area at Danareksa Tower in Jakarta on Tuesday.

On the occasion, Jokowi highlighted that Indonesia wields a strategic opportunity to become the world's center for the halal business ecosystem.

To this end, he emphasized the importance of measures to strengthen the domestic Islamic economy ecosystem and produce more industry professionals.

The head of state then pointed out that Islamic or Sharia banking assets registered a growth of 9.07 percent, surpassing the 8.9 percent growth rate of conventional bank assets.

Furthermore, Jokowi underlined that the value of third-party funds collected by Islamic banks is growing by 10.41 percent, while that collected by conventional banks only increased by 8.43 percent.

He also drew attention to state-run Bank Syariah Indonesia, urging it to keep progressing and ensure the employment of modern, competitive, and professional management to fully draw on the country's enormous market.

The president then spoke of the Indonesia Islamic Center Area, explicitly saying that its presence acts as a positive move by Indonesia to support the development of its halal industry landscape, which covers the sectors of modest fashion, halal tourism, and halal culinary.

State-owned Enterprises Minister Erick Thohir, Economic Affairs Coordinating Minister Airlangga Hartarto, and Youth and Sports Minister Dito Ariotedjo attended the inauguration ceremony.