Viet Nam aims to become a major player in the global halal industry, a market expected to grow rapidly and reach a value of $10 trillion by 2028. Led by Prime Minister Phạm Minh Chính, the government sees this as a "golden opportunity" for economic growth and global cooperation.
At the National Halal Conference in Hanoi on October 22, the government reaffirmed its commitment to making the halal sector a key part of its economic strategy by leveraging Viet Nam's agricultural strengths and expanding international trade.
This initiative is in line with projections that the global Muslim population will reach 2.8 billion by 2050, creating strong demand for products and services that comply with Islamic guidelines. The halal sector, from food to tourism, offers Viet Nam opportunities for economic diversification and access to lucrative markets.
Ambitions as a Halal Destination
With the rise of global halal tourism, Viet Nam has the potential to attract Muslim tourists by offering halal-friendly accommodation, food and cultural experiences. Viet Nam's agricultural strengths also position the country to become a major exporter of halal food products, which already reach large markets such as Saudi Arabia, Malaysia, and Indonesia.
Beyond tourism and food, the pharmaceutical and cosmetics sectors also offer significant opportunities for Viet Namese companies to meet the global demand for certified Halal products. The growing Muslim population, particularly in countries such as Indonesia, Pakistan, and Bangladesh, is driving increased demand for halal products in various sectors.
Supported by 17 free trade agreements, including partnerships with countries in Southeast Asia and the Middle East, Viet Nam has a solid foundation to expand its halal exports, targeting Muslim-majority markets as a strategic move to expand its economic reach.
Viet Nam's Path to the Halal Market
At the core of Viet Nam's growth strategy in the halal market is building trust through rigorous certification standards. Halal certification is not only a matter of technical compliance, but also a means of connecting Viet Nam to the global Muslim community and upholding quality standards.
However, many Viet Namese businesses still face challenges in the certification process due to the lack of standardized procedures recognized by international halal authorities. Experts at the conference emphasized that Viet Nam needs to strengthen its certification capabilities to compete with major halal exporters such as Malaysia, Indonesia, and the United Arab Emirates. Partnering with international certification bodies is essential to ensure that Viet Namese products meet the strict standards of Muslim-majority markets.
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Government Initiatives
Recognizing the opportunities in the halal market, the Viet Namese government has launched several initiatives, including financial incentives and subsidies, to encourage businesses to invest in halal production and certification. In cooperation with international organizations, they have also introduced training programs to improve the skills of professionals in the industry.
Viet Nam has established a regulatory framework that includes standards and guidelines for halal certification to simplify the process and ensure that Viet Namese products meet international standards. The government has also launched promotional campaigns to introduce Viet Namese halal products to the global market.
