PHNOM PENH, June 26 — Malaysia and Vietnam are poised to forge a smart partnership and leverage their existing economic complementarities to tap into the booming global halal footprint.
Malaysian Ambassador to Vietnam Datuk Tan Yang Thai said entering the halal market requires a deep understanding of its standards and its consumers’ needs, which could be addressed with a practical strategy for long-term growth.
Vietnam is racing to capture a slice of the billion-dollar international halal market, with its robust agricultural sector exports.
“To accelerate Vietnam’s entry, Malaysia proposes a practical and effective strategy. This strategy invites Vietnamese enterprises to leverage Malaysia’s established halal infrastructure, including our certification facilities and readily available halal-certified ingredients.
“This approach streamlines the process, allowing Vietnamese businesses to meet international standards more easily and get their products to market faster,” Tan told participants at the “Accessing the Global Halal Market: Opportunities for Vietnamese Enterprises” seminar in Hanoi yesterday.
Vietnam’s agricultural sector generated RM263 billion in export turnover last year while recording a trade surplus of RM81 billion.
The Vietnam Halal Centre estimates the country can produce RM144 billion worth of goods for the Organisation of Islamic Cooperation countries.
“Vietnam is an agricultural surplus nation.
“It has an abundance of halal potential raw materials including coffee, rice, marine products, aquaculture products, spices, nuts, vegetables, and fruit, which indicate high potential in producing end products,” Vietnam Halal Certification Agency director Ramlan Osman told Bernama from Hanoi.
Tan encouraged Vietnamese enterprises to source Malaysian halal ingredients to simplify the production of halal-certified goods.
The Malaysia International Halal Showcase 6 will be held in Kuala Lumpur from September 17 to 20, and is set to be an ideal avenue to explore these possibilities.
“By working together, we can unlock immense opportunities for growth and prosperity.
“With Vietnam’s entrepreneurial spirit and our shared commitment to collaboration, I am confident Vietnam will become a significant and successful player in the global halal economy,” said Tan.
— Bernama
