Vietnam needs to adapt to boost exports to massive Halal markets

With its strategic geographic location near major Muslim countries, Vietnam has a huge advantage to access the Halal markets, many of which are open to importing local agricultural products. Therefore, adapting to the regulations of these markets will help businesses and cooperatives gain a competitive edge.

Experts pointed out that the global Halal market, with its vast size and growing demand, holds significant potential for generating substantial incomes and diversifying product offerings for Vietnamese enterprises.

Currently, 57 countries are members of the Organisation of Islamic Cooperation. The region is home to more than 2 billion Muslims, representing 25% of the global population, with an annual economic growth rate of 2.9%.

The State of the Global Islamic Economy Report forecasts that spending on Halal products and services will reach 1.67 trillion USD by 2025, with the Southeast Asia - South Asia - Pacific region currently being the largest consumer of Halal food in the world./.