The market for Muslims in Malaysia in particular and the Halal market in general has a lot of development potential, offering a good opportunity for Vietnamese exporters, heard a seminar in Ho Chi Minh City on May 31.
HCM City (VNA) – The market for Muslims in Malaysia in particular and the Halal market in general has a lot of development potential, offering a good opportunity for Vietnamese exporters, heard a seminar in Ho Chi Minh City on May 31.
The seminar, jointly held by the Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC), the Malaysian Consulate General in the city, and the National Trade Promotion Agency of Malaysia (MATRADE), aimed to seek ways to promote the export of Halal products of Vietnamese enterprises to Malaysia and other Islamic markets.
ITPC Deputy Director Dao Minh Chanh said that there remains ample room for economic, trade and investment cooperation between Vietnam and Malaysia. Two-way trade increased from 7.2 billion USD in 2011 to 12.67 billion USD last year, and the two countries are striving to raise the number to 25 billion USD by 2030.
Malaysian Consul General in Ho Chi Minh City Firdauz Othman said that the Muslim population is forecast to increase from 1.8 billion in 2017 to 3 billion in 2060. As for Halal food, the market is growing at a very fast pace, expected to reach a value of about 4.5 trillion USD by 2030.
Today, Halal standards have been accepted globally, especially in terms of hygiene and safety, he said, adding that this has brought great opportunities for many countries, including Vietnam, to proactively approach the Halal market.
To exploit this market’s potential, Vietnamese businesses need to proactively learn about and develop Halal-certified products, and participate in trade promotion programmes for Halal products, he recommended./.
