Vietnam+Singapore: Building a halal bridge to the world

SINGAPORE (MNTV) —  With the global halal market valued at trillions of dollars and continuing to grow strongly, Vietnam and Singapore are presented with many opportunities for cooperation to build a regional halal value chain, leveraging the complementary strengths of each country to expand access to international markets.

According to the Vietnam News Agency correspondent in Singapore, this was the content shared by delegates, experts, and the business community at the recent Halal Business Conference 2026, themed “Singapore, Vietnam and Beyond: Building a Regional Halal Value Chain Together.” 

Vietnamese Ambassador to Singapore Tran Phuoc Anh stated that economic relations between Vietnam and Singapore are developing strongly, with bilateral trade reaching nearly approximately $30.9 billion in 2025, while Singapore continues to be the largest foreign direct investor in Vietnam. 

According to the ambassador, the halal economy is opening up a new space for cooperation, contributing to enriching the Comprehensive Strategic Partnership between the two countries. 

The ambassador emphasized that the halal economy currently serves nearly 2 billion Muslim consumers worldwide, with an estimated size of over $7 trillion annually, spanning from food, beverages, pharmaceuticals, cosmetics to tourism, logistics, finance, and digital services. 

Demand for halal-certified products is steadily increasing in Southeast Asia, the Middle East, as well as Europe, Africa, and North America. 

According to Ambassador Tran Phuoc Anh, Vietnam identifies the development of the halal industry as a strategic opportunity to diversify export markets and enhance the resilience of the supply chain. 

The government has issued a National Strategy on strengthening international cooperation to develop the halal industry by 2030, while also promoting ministries, localities, and businesses to improve certification capacity, perfect production systems to meet halal standards, and expand international cooperation. 

Referring to the potential for cooperation between the two countries, Tran Phuoc Anh stated that Vietnam has strengths in agriculture, fisheries, food processing, and manufacturing, while Singapore possesses advantages in finance, logistics, innovation, and an international certification system. 

Combining these advantages will contribute to the formation of a competitive regional halal value chain, connecting ASEAN producers with the global market. 

The ambassador also said that Vietnam will host the Halal Tourism Conference with the theme “Vietnam – A New Destination for Muslim Tourism” on July 8-9 in Khanh Hoa province, thereby further promoting Vietnam’s potential in the halal sector. 

From a regional business perspective, Tan Teck Lee, Head of Thailand, Malaysia, and the Philippines at the Singapore Business Federation (SBF), noted that Vietnam is emerging as an important regional manufacturing hub and is increasingly attracting international investment. 

According to him, SBF aims to act as a bridge, strengthening business connections between the two countries, contributing to the industrialization process and the development of the halal value chain. 

He said the biggest challenge currently is the disparity between halal certification systems in Southeast Asian countries. If countries move towards harmonizing standards or mutual recognition of Halal certification, the management, inspection, and circulation of goods will be smoother, creating momentum to boost regional trade. 

According to Tan Teck Lee, to bring more Vietnamese halal products to the Singapore market as well as other international markets, businesses need to invest more in innovation, research and development (R&D), and leverage Singapore as a transit, logistics, and distribution hub to expand their market.