Is Indonesia destined to become the world's market for halal products?

• Main Authors: Hidayat, Yusup, Machmud, Aris, Zulhuda, Sonny, Suartini, Suartini
• Format: Article
• Language: English
• Published: 2023
• Subjects: BPH117 Consumption. Halal issues. Standards. Certification. Halal status; BPN87 Muslim friendly and halal services; HF5475.I74 Halal business, entrepreneur, marketing, management, and administration; KBP2000 Public law. The state and Islam
• Online Access: http://irep.iium.edu.my/107745/7/107745_Is%20Indonesia%20destined%20to%20become%20the%20world%27s%20market%20for%20halal%20products.pdf; http://irep.iium.edu.my/107745/; https://proceeding.researchsynergypress.com/index.php/rsfconferenceseries1/article/view/652; https://doi.org/10.31098/bmss.v3i2.652

This study aims to discover and analyse the existence of MSMEs in Indonesia in the world's Halal products and Services market. As a country with the largest Muslim population in the world, Indonesia can become one of the largest markets in the world. As indicated in the Global Islamic Economic Report (GIER), Indonesia is one of the top ten countries that control the Islamic economic market, yet it fails to dominate its own Islamic market. Accordingly, the government needs to play a stronger role through regulatory policies to encourage the development of the Islamic economic ecosystem in Indonesia (halal value chain). The researchers have conducted normative juridical research with the analytical descriptive method by collecting, describing, analysing and presenting what is (das sein) and what ought to be (das sollen). The conclusion of this study shows that the quadruple helix innovation system can guarantee the development of MSMEs to achieve a high level of competitiveness -efficiency and effectiveness of the products and services produced.