Vietnam needs long-term strategy to make deeper inroads into halal market

HANOI, Vietnam (MNTV) — Vietnam must develop a halal product ecosystem meeting quality and certification standards to tap into the growing halal market, Vietnam+ reports, quoting experts.

Ramlan Bin Osman, director of the National Halal Certification Center (HALCERT) under the Ministry of Science and Technology, says that Vietnam has an opportunity to tap into the global Halal market, which is valued at around $3 trillion.

He points out that the country boasts a wealth of raw materials suitable for Halal production, including coffee, rice, seafood, aquaculture products, spices, nuts, vegetables and fruits. These raw materials hold significant promise for producing Halal-certified final products.

Additionally, Vietnam has been recognized as one of the top international tourist destinations, a distinction earned in 2018. This has further strengthened the country’s accommodation and food service sectors, with halal restaurants and catering services seeing a rise in demand.

Osman emphasized that current supply has met just 10% of demand in the potentially high value halal market. This is a golden opportunity for Vietnamese products to find their place in this vast market, he adds.

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan affirms that penetrating the halal market is a strategic move for Vietnamese businesses, especially amid the unpredictable global economic landscape.
He says businesses should focus on strengthening their halal product brands and diversify their market reach.

To achieve this, the Deputy Minister calls for the establishment of networks to promote Vietnamese halal products to key markets, with clear goals and actionable strategies.

However, a key obstacle to expanding Vietnam’s halal product offerings lies in certification. Tran Trong Kim, head of the Vietnam Trade Office in Saudi Arabia, recommends that the government implement clear guidelines on halal certification procedures.

He highlights that many countries do not directly recognize Halal products from businesses, but instead require third-party certification.

 
Kim suggests that Vietnam should call for foreign investors to establish facilities in Vietnam to produce Halal products meeting international standards.

According to Truong Xuan Trung, head of the Vietnam Trade Office in the UAE, there is a need to further develop the legal framework surrounding Halal products in Vietnam.

He suggested that the newly signed Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA) could play a crucial role in facilitating trade between the two countries, especially for Halal-certified goods.