Singapore (VNA) - Vietnam and Singapore have significant opportunities to jointly develop a regional Halal value chain by combining their complementary strengths to help ASEAN expand access to global markets as the multi-trillion-USD Halal economy continues to rapidly grow, speakers said at a business seminar in Singapore on June 27.
The Halal Business Seminar 2026 themed “Singapore – Vietnam and Beyond: Building the Regional Halal Value Chain ” was jointly organised by the Vietnam Trade Office in Singapore, Maybank and Dawn Horizon, bringing together policymakers, certification bodies, financial institutions and businesses from across Southeast Asia.
In his opening speech, Vietnamese Ambassador to Singapore Tran Phuoc Anh said the bilateral economic ties between the two countries have continued to grow stronger, with two-way trade reaching nearly 40 billion SGD (30.9 billion USD) in 2025, while Singapore remained the largest foreign investor in Vietnam.
The Halal economy is opening up a new area of cooperation, further fostering the Comprehensive Strategic Partnership between the two countries, he noted.
Serving nearly two billion Muslim consumers worldwide, the global Halal market is estimated to exceed 7 trillion USD annually, covering sectors ranging from food and beverages to pharmaceuticals, cosmetics, tourism, logistics, finance and digital services, the diplomat stressed adding that demand for certified Halal products is also rising steadily across Southeast Asia, the Middle East, Europe, Africa and North America.
According to the diplomat, Vietnam sees Halal industry as a strategic opportunity to diversify export markets and strengthen supply chain resilience. The Government has adopted a national strategy on enhancing international cooperation for developing Halal industry through 2030, while encouraging ministries, localities and businesses to improve certification capacity, upgrade production systems and expand international partnerships.
He noted that Vietnam’s strengths in agriculture, seafood, food processing and production complement Singapore’s advantages in finance, logistics, innovation and internationally recognised certification systems. Combining these capabilities, he said, will help establish a competitive regional Halal value chain linking ASEAN producers with global markets.
The ambassador also revealed that Vietnam will host the Halal Tourism Conference 2026, themed “Vietnam – A new destination for Muslim tourism,” in Khanh Hoa province on July 8-9 to promote the country's Halal tourism potential.
Tan Teck Lee, Country Head for Thailand, Malaysia and the Philippines at the Singapore Business Federation (SBF), said Vietnam is emerging as a key regional manufacturing hub and attracting increasing international investment. He noted said the SBF aims to strengthen business connectivity between the two countries and support the development of regional Halal value chains.
Tan identified differences in Halal certification systems across Southeast Asia as a major obstacle. Greater harmonisation or mutual recognition of certification standards, he said, will facilitate regulation, inspection and movement of goods, helping boost regional trade.
According to Tan, Vietnamese firms should invest more in innovation, and research and development (R&D) while leveraging Singapore’s role as a logistics, distribution and transshipment hub to reach wider international markets.
Sharing this view, Dewi Suratty, founder and CEO of Dawn Horizon, said Vietnam is well positioned to expand its Halal industry thanks to its government’s strong support and the country’s strengths in agricultural, seafood and food production.
With food security becoming an increasing priority from the Middle East to Southeast Asia, demand for high-quality raw materials is rising, creating new export opportunities for Vietnam’s Halal-certified products.
She said ASEAN could build a complementary Halal value chain in which raw materials are sourced from Vietnam, processed in Singapore and exported to major consumer markets. Such cooperation will allow each country to capitalise on its comparative advantages while enhancing ASEAN’s overall competitiveness in the global Halal market.
The delegates said the workshop not only opened up opportunities for business connectivity between Vietnam and Singapore, but also contributed to promoting ASEAN-wide cooperation in building a sustainable Halal value chain. With Vietnam’s production capacity, Singapore’s financial and logistics ecosystem, and the regional trend toward harmonised standards, ASEAN is expected to strengthen its position on the global Halal economic map./.
VNA
