Undoubtedly, New Zealand economy suffers from non-performance and under-utilisation of resources and potential.
The situation requires a fresh outlook and a new pathway for wealth creation, away from debt financing.
Debt in Islamic culture means “worries in the night and humiliation in the morning.”
Experienced practitioners and economic strategists have raised the fundamental question, does ä standstill economy require electrical shock because it is not real, but governed by speculation and manipulation?”
Others have suggested that the economy should be based on profit sharing with participative management.
I believe that the New Zealand Halal meat and Halal food processing industry has untapped potential, full utilisation of which could lead to greater progress in export earnings. This should be done through strategic marketing and investment.
Any private initiative that is economically and financially sound would have government support. The Asian and Middle East Markets are rich in demand for Halal Meat and Halal processed food items.
Islam appreciates the importance of decent work and does not consider labour as a commodity or cost of production, but as employees who are partners with managers and owners, working together and sharing the success and prosperity of the enterprise.
Strategic marketing
Strategic marketing is all about human relationship and how nations market their products and services through proper promotion and positioning.
Turkey has become role model to the rest of the Muslim world because of its strategic marketing and tactical thinking.
Based on principles of self-respect, trust and non-interference in the affairs of other nations, Turkey has a flourishing economy.
Turkish businesses are willing to invest in New Zealand Halal meat, as this industry has huge potential in the Muslim world.
Such investment would be timely because many Muslims meat workers in South Island are unemployed due to recession.
Turkish investors can also invest in research and development, inject additional capital to develop the Halal industry and generate employment opportunities.
According to Ernst & Young’s inaugural World Islamic Banking Competitiveness Report 2011, Islamic banking assets with commercial banks globally will reach US$1.1 trillion in 2012, a significant jump of 33% from their 2010 level of US$826 billion.
I believe that the Government is ready to create a conducive environment to Muslim investors to invest not only in Halal meat but also in technology because our country has top scientists and venture capitalists.
Dr Saad Al Harran is a Business Consultant in Islamic Microfinance Enterprise and Youth Entrepreneurship. He lives in Palmerston North.
Email: nasriah2011@yahoo.com
