Vietnamese firms told to tap Muslim market with halal products

With nearly two billion Muslims in the world and rising demand for halal products, there is potentially a huge market for Vietnamese companies to exploit, experts said.
Vietnamese firms told to tap Muslim market with halal products ảnh 1People shop at a certified halal convenience (Photo: VNA)
HCM City (VNS/VNA) - With nearly two billion Muslims in the worldand rising demand for halal products, there is potentially a huge market forVietnamese companies to exploit, experts said.

Nguyen Tuan, deputy director of the Ho Chi Minh City Investment and TradePromotion Centre (ITPC) told a conference on November 1 that Vietnamesebusinesses should understand halal requirements to step up exports to one ofthe world’s fastest growing markets.

Demand for them is increasing among both Muslim and non-Muslim consumers,especially for consumer products, he said.

Large Muslim countries include the UAE, Malaysia, Indonesia, Brunei, Pakistan,and others in the Middle East.

The demand for halal products is also increasing in the domestic market as moreand more foreign Muslims come to Vietnam to travel, work and study.

Halal refers to any action or behaviour that is permissible in Islam, andincludes things like slaughtering animals for meat in a strictly specifiedmanner.

But the Vietnamese share of the halal market remains modest though it does nothave technical or tariff barriers like in the US or EU.

Halal certification

Ramlan Osman, director of the Halal Centre of Vietnam, said to get halalcertification, food products must not be tainted by pork or alcohol and have anegative impact on the environment.

The halal food production line must be completely separated from non-halallines, he said.

The halal market also includes other products and services such as householdgoods, finance, fashion, pharmaceuticals, and cosmetics.

But the rules and requirements for non-food items are not stringent or do notrequire strict separation from non-halal products.

Experts said there are nearly two billion Muslims world-wide and the demand forHalal products is worth around 2.3 trillion USD annually.

Increasing disposable incomes in leading Islamic nations like the UAE,Malaysia, Indonesia, and Brunei is expected to expand the market, they said.

Since there are few Muslims in Vietnam, local companies are still not familiarwith halal standards, which are different in each country.

The event was organised by the ITPC and Halal Centre of Vietnam./.
VNA

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