Livestock processing would hardly seem like a growth industry. Most would categorize it as a defensive investment. But some companies would argue differently as they aim to tap markets across the Islamic world. As an example, Mindanao-based Maharlika Agro-Marine Ventures was recently awarded halal certification by the Dubai government, effectively providing access to a broad swath of the Middle East from its base in the Philippines. One of the company’s core products is Peking duck. While some would argue that ethnically-prepared poultry is a poor cultural fit for the Arab market, those critics likely have not been to a Chinese restaurant in Riyadh on a Thursday night. Western companies—and investors—may not be attuned to these non-traditional developments, embracing so-called South-South trade, cultural demonstration, and middle-class income growth. ■
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