The Halal Expo Dubai, scheduled to be held in September, will strengthen and develop the halal industry in the Arab region and beyond, according to the organisers of the event.

The event will take place on September 18 and 19, in Dubai.

The country has immense potential and resources to be the hub of Islamic economy and for attracting foreign investments to UAE as the country ranked third after Malaysia and Bahrain in Islamic economy and finance, said a statement from Orange Fairs and Events, organisers of the expo.

The Dubai Islamic Economy Development Centre in a recent meeting announced what it calls a “refreshed” growth strategy for the next five years until 2021, after multiple sessions of stakeholder engagement, with the objective of measuring and expanding its impact on the UAE’s gross domestic product (GDP).

Dubai’s strategy consolidates the original seven pillars of the Islamic Economy into three. The initial strategy in operation since the inception of the centre in 2013 rested on seven sectors – Islamic finance; halal industry; family-friendly tourism; digital infrastructure; Islamic arts, fashion and design; and standards and certification.

Raees Ahmed, director of Orange Fairs and Events, said: “We are immensely inspired by the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, who is keen to make Dubai the hub of halal economy.”

“The expo is a platform to attract halal foreign direct investment (FDI) to UAE,” he said.

Dubai’s strategy uses a two-pronged approach. The first part concentrates on the development of the Islamic Economy ecosystem and includes identifying new key performing indicators for monitoring the growth of important sectors and measuring their contribution to the national economy.

The second component includes enhancing Dubai’s status as a global reference for Islamic finance, industry, trading standards and culture, and as a prime destination for halal trade and family tourism.

Ahmed added: “We have chosen Dubai for our event because the country has achieved great successes in its agenda for developing the Islamic economy with a focused approach and plan for developing each sector of this economy.”

Under the updated strategy for Islamic economy development, Islamic finance is seen as a growth engine for Dubai as well as the world’s Islamic economy, it stated. – TradeArabia News Service