The Indonesia Sharia Economic Festival in collaboration with Halal Expo Indonesia is an effort to strengthen the acceleration of the Indonesian halal industry in the international market.

Jakarta (Indonesia Window) – Vice President of the Republic of Indonesia K.H. Ma'ruf Amin officially opened the 10th Indonesia Sharia Economic Festival (ISEF) and Halal Expo Indonesia (HEI) 2023 in Jakarta, Thursday.

In his opening remarks, the Vice President of the Republic of Indonesia gave three directives in order to accelerate the growth and development of sharia economy and finance in the country.

"First, increase and expand the use of digitalization and digital innovation," he said, adding that this is expected to accelerate the development of the sharia economy, as well as increase the efficiency and effectiveness of the halal industry.

One of the uses of digital technology in accelerating sharia economic development is the One Indonesian Waqf application which was launched on the same day.

Furthermore, Vice President Ma'ruf Amin directed that there be an increase in sharia economic and financial literacy and inclusion to reach 50 percent.

According to him, the level of sharia economic and financial literacy in the country is currently not ideal because it has only reached 23.3 percent. This also affects the achievement of the new sharia financial market share of around 10.9 percent.

However, the vice president believes that Indonesia's sharia economic and financial conditions can continue to improve and develop so that Indonesia's sharia economic and financial literacy reaches at least 50 percent in the future.

According to him, increasing sharia economic and financial literacy will certainly have significant implications for the contribution of sharia economics and finance to the national economy.

"The greater the sharia economic and financial literacy, the greater the acceptance and use of sharia economic and financial products by the community, which will lead to an increase in the contribution of this sector to the national economy," explained the vice president.

In this case, communication that is easily understood by the younger generation will have an impact on expanding the share of the sharia economic and financial market in the country.

Ma'ruf Amin further directed that sharia economic and financial programs be maintained and supervised until they continue in the future. This is done by strengthening synergy and coordination between stakeholders, and making Sharia Gross Domestic Product (GDP) part of the national GDP.

Therefore, on the same occasion, the Indonesian Halal Industry Master Plan 2023-2029 was also launched.

The 10th ISEF under the theme 'Accelerating Sharia Economy and Finance Through Digitalization for Inclusive and Sustainable Growth' or 'Accelerating Sharia Economy and Finance Through Digitalization for Inclusive and Sustainable Growth' will take place for five days from October 25 to 29, 2023 at the Jakarta Convention Center (JCC).

ISEF 2023 presents 793 exhibitors from Indonesia and 20 friendly countries, and features a series of 62 seminar agendas, talk shows and various other events involving 22 ministries/institutions, 37 associations, 1,003 industry players and 46 international partners.

ISEF 2023, which has been initiated by Bank Indonesia since 2014, targets at least 40,000 visitors, including buyers and investors from within the country and abroad.

At this year's event, ISEF in collaboration with Halal Expo Indonesia (HEI) will become the largest Business to Business and Business to Consumer exhibition in Indonesia, with various interesting events such as international conferences, business matchmaking, business forums and other activities.

HEI presents around 120 outlets consisting of business people from within and outside the country, including Malaysia, Cambodia, Belarus, China, India, Egypt, Iran, Ethiopia, Saudi Arabia, Sri Lanka, the United States, Jordan, Japan, Turkey and Palestine.

The ISEF – HEI 2023 collaboration is an effort to strengthen the acceleration of the Indonesian halal industry in the international market.

Reporting by Bambang Purwanto