Kuala Lumpur (VNA) - Malaysia's Melaka state has recently announced its plan to establish the State Halal Industry Development Council, which is expected to offer opportunities for Vietnamese firms to break into this lucrative market.
Melaka Chief Minister Ab Rauf Yusoh emphasised that the council will expedite the entry of investors and the approval of halal certification, without troublesome bureaucracy.
The establishment of the council is seen as a positive signal for Vietnamese enterprises seeking to overcome certification hurdles and tap into both Melaka’s market and the broader regional Halal economy. As Melaka positions itself to become a regional Halal hub, new opportunities are emerging for Vietnamese exporters to expand their footprint.
The Vietnam – Malaysia trade in the Halal sector is experiencing robust growth, yet Vietnamese exporters continue to grapple with a widening trade deficit and the stringent demands of Islamic certification standards.
Statistics from the Department of Vietnam Customs showed that two-way trade exceeded 12 billion USD in the first nine months of this year, a year-on-year increase of 12.9%. However, Vietnam experienced a trade deficit of 4.29 billion USD.
Analysing the Malaysian marketplace, Ngo Quang Hung, Vietnamese trade representative in Malaysia, described Malaysia as an attractive market with strong purchasing power, diverse consumer needs, and cultural consumption patterns closely aligned with Vietnamese products. Nevertheless, he acknowledged that Vietnamese exports face fierce competition with those from China, Thailand, and Indonesia.
The most formidable challenge remains Halal certification, a critical barrier to penetrating this important Muslim market, he highlighted./.
Halal industry – new momentum for Vietnam-Malaysia cooperation
Ha stated that Vietnam regards the development of the Halal industry as a new and important direction to unlock the global Halal market and foster new growth drivers. Although Halal is a new sector, Vietnam is making efforts to establish its position on the global Halal map.
