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Thursday, July 25, 2024

Vietnam seeks to tap US$3-trillion Halal market

The Saigon Times

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HCMC – Vietnam is actively seeking to develop the domestic Halal industry and tap into the global market potential, which is projected to reach US$3 trillion by 2025.

The effort was a key discussion point during an international workshop held in Hanoi on July 5, organized by the Vietnam Academy of Social Sciences (VASS).

Experts underscored the immense potential for Halal products and services, as the global Muslim population is expected to reach 2.18 billion by 2030.

Vietnam is fostering a comprehensive Halal ecosystem domestically through collaboration with international partners, particularly the 57 member states of the Organization of Islamic Cooperation (OIC).

The workshop addressed the intricacies of establishing a robust Halal framework in Vietnam, covering production, logistics, and raising consumer awareness.

Several challenges were identified, including the need for clearer regulations and standards and greater investment in Halal infrastructure. Participants emphasized the key role of the authenticity and integrity within Halal certification processes.

As part of the event, the Institute for South Asia, West Asia, and Africa Studies (ISAWAAS) was officially launched under VASS, paving the way for Vietnam’s future collaborative efforts with the regions.

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