If Vietnamese businesses can meet Halal requirements, they won’t just reach Muslim consumers, she said, adding that they’ll also tap into the high-end segment in global markets increasingly focused on quality and product safety.
The Halal market, catering to Muslim consumers, holds vast potential in terms of scale, population, spending power, and industry diversity. It presents a promising opportunity for Vietnam’s export sectors, particularly agriculture. However, strict Halal standards make it a challenging market for Vietnamese agricultural products.
With sound partnerships with Muslim-majority countries, the Halal industry will become an important field of cooperation, helping further promote Vietnam’s substantive ties with such partners and contribute to common development and prosperity, said former Deputy Foreign Minister Pham Quang Hieu.
Vietnamese agencies stand ready to create optimal conditions for investment funds and corporations of Saudi Arabia to seek investment cooperation chances in Vietnam, said Prime Minister Pham Minh Chinh while receiving Minister of Foreign Affairs of Saudi Arabia Prince Faisal Bin Farhan Al Saud in Hanoi on March 17.
Vietnamese enterprises should engage more in trade promotion activities in the Middle East and Africa, particularly as its traditional export markets are becoming oversaturated.
