Vietnamese firms have chance to reach out to Halal market
Vietnamese food processors have opportunities to tap into the billion-USD Halal market when attending a hybrid exhibition on Halal products and processed food scheduled in late May in Singapore.
Global demand for Halal product is increasing. (Photo: halalvietnam.vn)
Hanoi (VNA) – Vietnamese food processors have opportunities to tapinto the billion-USD Halal market when attending a hybrid exhibition on Halalproducts and processed food scheduled in late May in Singapore.
The Food and Agriculture Organisation of the United Nations (FAO) in Vietnamestimated that the Halal market is growing rapidly, with Muslim consumersworldwide spending 1.4 trillion USD on Halal food, and the figure expected tobe ten times higher in 2050.
As a leading agricultural exporter in the world, Vietnam has huge advantages topenetrate into the Halal market, experts said, adding it is necessary to studyconsumers’ demand and Halal market’s standards.
Vietnamese authorities have joined hands with their partners in Singapore hold thehybrid event at Changi International Airport, aiming to help Vietnamese firmsto engage in the promising Halal market.
Participants need to obtain Halal certificates, satisfy the Hazard AnalysisCritical Control Point (HACCP), and provide products’ instruction in English,according to the Ministry of Industry and Trade’s Trade Promotion Agency.
Joining the event, businesses will enjoy free-of-charge exhibition areas,transportation, and business-matching events. Along with communication work,they will receive support to sell their Halal products at Singaporeansupermarkets.
This is Vietnam’s first Hybrid exhibition in a foreign country, aiming to pilottrade fair in combination with business matching through digital platforms.
The exhibition will last for one week with strict trade measures put in placeto ensure safety for the participants.
It is estimated that demand among the Muslimcommunity for products found in Vietnam is about 34 billion USD per year. But,in fact, Vietnam’s export of such products to this market has reached only 10.5billion USD, meaning that more than two-thirds of consumer demand, worth 23.6billion USD, has been missed.
Every year, about 50 Vietnamese companies are granted halalcertifications mainly for seafood, beverages, canned foods, confectionery,vegetarian food and pharmaceuticals products./.
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.
Volatility in global supply chains following COVID-19 is both a challenge and an opportunity for Vietnamese businesses to make inroads into the global supply of Halal products, a workshop in Hanoi on April 28 heard.
An online forum was held in Hanoi on November 30 to introduce the potential of the global Halal food market and the opportunities for Vietnam, with over 300 delegates from home and abroad taking part.
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Global demand for Halal product is increasing. (Photo: halalvietnam.vn) 
