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Update news Halal market
Many Vietnamese firms are missing out on the $10 trillion Halal market, as challenges around certification and market access persist.
PM Chinh highlighted the significance of the event, which contributes to guiding the development strategy for Vietnam's Halal industry.
With a large population and a rapidly growing Halal food market, the Middle East-North Africa (MENA) region is a potential market for Vietnamese businesses.
Experts see a golden opportunity for Vietnam to tap into the booming Halal market, fueled by a surging global Muslim population.
Vietnam has not attracted many Islamic travelers because it lacks Halal-standard restaurants and places for travelers to pray, and has not focused on marketing.
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.
HALCERT, operating under QUACERT, will oversee certification activities and facilitate discussions, training and international cooperation in the Halal sector.
In a bid to awaken Vietnam's dormant potential in the global Halal market, experts emphasized the crucial role of standards and certifications during a symposium held on Wednesday in Hanoi.
Only a handful of Vietnamese enterprises have taken advantage of expanding the Halal industry in general and increasing demand for Halal food in particular to boost exports, heard at a workshop held on July 13 in Ho Chi Minh City.
Despite opportunities available in the ASEAN halal food market, Vietnamese exporters have to date exported only a small amount of halal products to some countries in the region.
The Halal market is a huge market for Vietnamese businesses because currently Vietnamese Halal products do not account for a significant share.
As global supply chains for Halal products have been disrupted by the pandemic, Vietnamese companies have been urged to further tap the halal market which has export value of US$34 billion a year, experts said.
The first certified Halal convenience store was put into service in Ho Chi Minh City on December 25, giving Muslimsin the southern metropolis more food choices.