Vietnam possesses several advantages to develop the global Halal market.

DNHN - The level and efficiency of Vietnam's participation in the global Halal market are not commensurate with the country's potential. Currently, Vietnam exports only about 20 Halal-compliant products.

The Institute of African and Middle Eastern Studies, in collaboration with the Research Institute of Religion and Vietnam Academy of Social Sciences, organized an important seminar titled "Islamic Culture and Prospects for the Development of the Halal Industry in Vietnam" on August 14, 2014, in the afternoon, in Hanoi.

According to information presented at the conference, the current population growth rate in Muslim countries, also known as Islam, accounts for approximately 30 percent of the global population. This market is anticipated to reach a total value of approximately $1.972 billion by 2024, expanding at an impressive 6.3% annually. To enter this market, however, Vietnamese businesses must meet stringent Halal (Arabic for "allowed") requirements. This presents a formidable obstacle to the business community in our nation.

In his speech at the conference, the director of the Institute of African and Middle Eastern Studies, Associate Professor Dr. Le Phuoc Minh, emphasized: "The purpose of the workshop is to help better understand the perception and impact of the bilateral impact of Islamic culture on aspects of social life in Muslim countries, as well as increasing knowledge of the Halal industry; opening up new market opportunities, with growth potential for Vietnamese businesses."

During the workshop's two working sessions, participants discussed and analyzed Islamic culture globally and in Vietnam, as well as opportunities for developing the Halal industry in Vietnam.

It is estimated that there are approximately 100,000 Muslims in Vietnam, primarily located in 14 provinces and cities. Attending the workshop, the delegates agreed that Vietnam, with numerous industries such as agriculture, food, tourism, and textiles, and strong participation in free trade agreements such as the EU-Vietnam Free Trade Agreement (EVFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP), still has untapped potential. Utilise fully for the expansion of the global Halal market.

PV (t/h)