Vietnam Eyes $12 Trillion Halal Market with Strategic Partnerships

Vietnam is positioning itself as a key player in the global Halal market, projected to hit $12 trillion by 2030, leveraging its strengths in agriculture, food production, and tourism, SGGPO news agency reported. At an international conference in Hanoi, experts highlighted the 2 billion Muslim consumers in ASEAN and Asia as a prime opportunity for Vietnamese businesses.

Associate Professor Nguyen Hoang noted that Halal expansion could boost exports, tourism, and foreign investment. The Halal food sector alone, valued at $2.3 trillion in 2023, is forecast to grow 10.5% annually, reaching $5.3 trillion by 2030.

Iran’s Ambassador Ali Akbar Nazari offered support for Halal certification and technical training, while Morocco’s envoy Jamale Chouaibi proposed joint certification infrastructure to ease Vietnamese access to African, Middle Eastern, and European markets. These partnerships aim to streamline compliance and enhance competitiveness.

Vietnam’s proactive steps signal its ambition to diversify trade and capitalize on the booming ethical-consumption economy.