Vietnam aspires to become a key player in the global halal industry

Vietnam aspires to become a key player in the global halal industry, which it sees as a strategic opportunity to diversify and strengthen its economy. During the first national conference on halal, organized in Hanoi, Prime Minister Pham Minh Chinh highlighted the importance of this sector as a pillar of international economic cooperation, particularly with Muslim countries. He stressed that the halal market provides a “golden opportunity” for Vietnamese companies to improve their competitiveness and integrate into the global halal value chain.

The conference brought together more than 350 participants, including representatives of national and international companies as well as halal certification agencies. Several memoranda of understanding and partnerships have been signed, aimed at facilitating the certification of Vietnamese products to access Muslim markets, a step considered crucial by experts. They insisted on the need to modernize and standardize the halal certification process so that it is recognized globally.

With the global halal industry estimated to be worth $10 trillion by 2028, Vietnam wants to capitalize on this growth, leveraging its 17 free trade agreements to access these new markets. Officials like Mohamed Jinna, chairman of Halal India, have stressed the importance of ensuring the trust of Muslim consumers, a key element in allowing Vietnamese products to export to Muslim-majority countries, including those in the Organization of Islamic Cooperation (OIC). The Saudi Halal Center, through its Vice President Yousif AlHarbi, also expressed its commitment to collaborate with Vietnam to develop a robust halal ecosystem, with internationally recognized certification standards, thus opening new business opportunities for the country.