The Halal industry is forecast to continue developing strongly in Asia, Middle East and African markets, offering good opportunities for Vietnamese businesses to join this industry, according to experts at a recent workshop held in Ho Chi Minh City.

At a recent conference organized by the Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC), the Malaysian Consulate General in the city, and the National Trade Promotion Agency of Malaysia (MATRADE) to seek ways to promote the export of Halal products  from Vietnam to Malaysia and other Islamic markets, Malaysian Consul General in Ho Chi Minh City Firdauz Othman said that the Halal market has kept growing to meet increasing demand of the Muslim population which is forecast to increase from 1.8 billion in 2017 to 3 billion in 2060.

Halal standards have been accepted globally, especially in terms of hygiene and safety, he said, adding that this has brought great opportunities for many countries, including Vietnam, to proactively approach the Halal market.

Additionally, there remains ample room for economic, trade and investment cooperation between Vietnam and Malaysia. Two-way trade increased from $7.2 billion in 2011 to $12.67 billion last year, and the two countries are striving to raise the figure to $25 billion by 2030.

Malaysia is one of potential importer of Vietnam in ASEAN. In the first four months of 2024, Vietnam exported products worth $1.6 billion to Malaysia.