Potential opportunities from global Halal food market for Vietnam

01.12.2020

Share by

The Ministry of Foreign Affairs (MOFA) coordinated with the Ministry of Agriculture and Rural Development to organise a forum “Potential of global Halal food market and opportunities for Vietnam” on November 30.

 

Halal foods are “permitted” and “legal” products under Islamic Law with extremely detailed and strict standards.

Speaking at the opening ceremony, Permanent Deputy Minister of Foreign Affairs Bui Thanh Son said that this was the first time the Ministry of Foreign Affairs had cooperated with the Ministry of Agriculture and Rural Development to coorganise a forum on the Halal food market. The event aims to raise awareness about the potential of this market; the importance of Halal certification and measures to help Vietnamese businesses participate effectively in the global Halal food market.

The global Halal food market has great potential and is growing at a rapid rate across every continent from Asia to the Middle East-Africa to Europe and America. The world has nearly 2 billion Muslims with Halal food spending forecast at US$ 1,400 billion by 2020; this amount forecast to grow more than 10 times to US$ 15,000 billion by 2050.

“This is a great opportunity for countries like Vietnam to export more food and agricultural products “, the Permanent Deputy Minister of Foreign Affairs emphasised.

However, so far, the participation of Vietnamese businesses in the Halal food market has been limited. According to the Vietnam Halal Centre, Vietnamese enterprises have initially exported some Halal products, but can only meet one third of the demand from countries in the Organisation of Islamic Cooperation (OIC). Many businesses still face difficulties in issuing Halal certification and lack information about the market, business and consumption culture in order to fully participate in the Halal market, especially in Muslim countries.

Permanent Deputy Minister of Foreign Affairs Bui Thanh Son expressed his wish that the forum would discuss the real potential of the global Halal food market, not only from countries with a majority Muslim population, but also fromcountries with a smaller such population. Islam is widespread in Europe, America and some Asian countries. Thereby, identifying new trends and demand for Halal products is vital, not only limited to food but also in pharmaceuticals, cosmetics and many other Halal services such as tourism.

He affirmed that the ministry will always stand side by side and support localities and businesses in grasping new trends, approaching markets, contributing to creating new motivationfor the sustainable development of Vietnam in the new strategic phase.

At the forum, Deputy Minister of Agriculture and Rural Development Le Minh Hoan said that the Vietnamese agriculture sector always accompanies Vietnamese agroforestry and fisheries enterprises. He believes that through this forum, parties will have the opportunity to learn more about the demands and conditions of Vietnam’s agricultural, forestry and fishery exports to Muslim markets and look forward to developing potential market penetration strategies. Management agencies and enterprises have engaged in research in order to produce export products with their quality, specifications and desig in accordance with regulations on the quality standards and consumption practices of a diverse range of countries; building product distribution networks and opening representative offices and branches in the market.

Tagline:
Bamboo
Related post
BAMBOO’S LYCHEE ARRIVED IN JAPAN
28/05/2021
See more
FIRST FRESH LYCHEE CONTAINER TO JAPAN IN 2021
26/05/2021
See more
Vietnam enterprises step up efforts to protect brands abroad
18/05/2021
See more
Vietnam promotes processed agricultural products in Australia
04/05/2021
See more
Vietnam sets a target for fruit and vegetable export turnover from 8 to 10 billion USD
08/04/2021
See more
Vietnamese food, farm produce displayed at international exhibition in Japan
10/03/2021
See more
Trade ministry helping Hải Dương farmers sell produce
03/03/2021
See more
Vietnam earned nearly 3.5 billion from farm, forestry and seafood exports in first month of 2021
25/02/2021
See more
Myanmar to continue efforts to support economy amid COVID-19
25/02/2021
See more
Da Nang: Policies supporting agriculture, rural development introduced
18/02/2021
See more
Tien Giang province expands high-tech rice cultivation
02/02/2021
See more
Laos encourages the development of domestic goods
27/01/2021
See more
The hallmark of Vietnamese rice
19/01/2021
See more
The total import and export of agricultural products between Vietnam and China exceeds US$9.8 billion
13/01/2021
See more
Vietnam develops high-quality coffee
31/12/2020
See more
Myanmar’s recovery waylaid by second wave, but rebound expected later: World Bank
23/12/2020
See more
EAEU gives Vietnam tariff quota of 10,000 tonnes of rice in 2021
19/12/2020
See more
Yen Son District develops its pomelo production area
15/12/2020
See more
AgroViet 2020 underway in Hanoi
04/12/2020
See more
Myanmar online sales boom amid COVID-19: e-commerce body
24/11/2020
See more
RCEP to create opportunities for Japanese manufacturers, farmers: minister
17/11/2020
See more
Exporters of farm produce face tougher standards in China
13/11/2020
See more
Vietnam-China agro product trade hits over US$9.8 billion in nine months
06/11/2020
See more
The Ashimi anchovy fish sauce was successfully exported to Japan
05/11/2020
See more
LIPO in Laos market
29/10/2020
See more
Thai Nguyen eyes stronger hi-tech agriculture cooperation with Israel
26/10/2020
See more
Fruit, vegetable exports fetch 2.5 billion USD in nine months
23/10/2020
See more
Delicious mango varieties are favored in Vietnam
19/10/2020
See more
Five dos and don’ts for entering Myanmar’s retail market
13/10/2020
See more
Vietnam, India hold great potential in trade of fruits: Indian official
12/10/2020
See more
Carrots 101: Nutrition Facts and Health Benefits
16/09/2020
See more
Son La successfully exports dragon fruit to Russia
14/09/2020
See more
Vietnamese fruit exports to US halted as Covid-19 keeps inspecting officials away
21/08/2020
See more
Vietnam July trade surplus seen at $1 billion; CPI up 3.39% year-on-year: statistics office
29/07/2020
See more
Fruit exporters hit by rising air freight costs
06/05/2020
See more
Bamboo
Contact form