"Dream - Indonesia successfully entered the top three in the Global Islamic Economy Indicator (GIEI) in the State of the Global Islamic Economy (SGIE) Report 2023. The report was released by DinarStandard in Dubai, United Arab Emirates, on Tuesday, December 26, 2023. Last year, Indonesia was in fourth place, now it ranks third, below Malaysia and Saudi Arabia. Indonesia has surpassed the United Arab Emirates (UAE)."

"DinarStandard, which released SGIE, is an international research institution focused on the global Islamic economy. The GIEI ranking includes Islamic finance, halal food/beverages, modest fashion, pharmaceuticals and cosmetics, Muslim-friendly tourism, media, and recreation."

"Meanwhile, halal medicines and cosmetics in Indonesia rose from number 8 to number 5. Indonesia climbed 23 positions to sixth place in the Media and Recreation indicator, which previously was not in the top 10 of this category. In terms of Islamic finance, Indonesia dropped one rank from sixth to seventh."

"Indonesia is also the country with the second highest FDI inflow among OIC member countries and ranks 19th in terms of global FDI inflows. GIEI 2023 states that halal product imports by OIC member countries, which include the halal sectors of food and beverages, fashion, pharmaceuticals, and cosmetics, reached a value of US$359 billion in 2022. This figure is expected to grow at a CAGR of 7.6% to US$492 billion by 2027."

"SGIE Report 2023 shows that a number of important strategic efforts have been made in 2022, including that the Indonesian government has provided significant support for cross-sector MSMEs. This includes efforts to accelerate halal certification. The SGIE 2023 report also notes that Indonesia has actively established partnerships with several countries globally to provide halal product assurance services."

"Including various efforts we made through G20 leadership, where BPJPH last year initiated the Halal 20 (H20) forum, which is an important milestone in the development of the global halal ecosystem and industry, as well as a platform for global halal partnerships." said Aqil in his statement, quoted on Wednesday, December 27, 2023."

Aqil also explained from the H20 2023 forum, which produced seven points of agreement in fostering and strengthening the global halal product ecosystem agreed upon by 118 delegates from 41 countries. "Another important result of H20 2023 is the signing of the MRA between BPJPH and 37 Foreign Halal Institutions (LHLN)," he added.