The Halal market is emerging as one of the new growth drivers of Vietnam's exports, not only because of the large scale of consumption but also thanks to the trend of expanding to many fields outside of food. However, to effectively take advantage of this opportunity, businesses cannot approach it in a traditional way but need a more methodical, long-term and comprehensive strategy.
Talking to the press, Ms. Ly Kim Chi - Chairwoman of the Ho Chi Minh City Food Association (FFA) said that the Halal market is currently a huge consumption space with about 1.9 billion people, equivalent to a scale of nearly 20,000 billion USD of goods. If previously, we often considered this a niche market, then at this time, for Vietnam, Halal is no longer a secondary market but has become one of the key markets in international consumption.
It is clear that there is a change in the market approach of Vietnamese businesses. No longer stopping at exploration or participation in testing, Halal is gradually becoming a strategic direction that needs to be properly invested in.
From that reality, Vietnamese businesses should not only stop at the level of "already participating" but need to proactively expand further, develop a variety of products that meet Halal standards. To do this, in addition to the efforts of businesses, the companionship of local authorities and industry associations in disseminating information, organizing training, connecting and market promotion is very necessary, such as programs being implemented currently to support businesses to penetrate deeper and wider into this potential market.
From a practical perspective, the structure of enterprises participating in the Halal market today shows that the food processing industry still plays a key role. This is also a field with many advantages of Vietnam in exports.
Currently, in the structure of enterprises participating in the Halal market, the food processing industry accounts for the largest proportion. Through observation and exchange between enterprises, it can be seen that building Halal standard products is not too difficult. However, the prerequisite is that enterprises must fully comply with the strict standards and regulations of the market" - Ms. Ly Kim Chi said.
According to Ms. Chi, the thinking of businesses needs to change instead of just focusing on traditional markets, it is necessary to identify Halal as a strategic direction. Each factory, each product should be oriented to meet Halal standards to expand export opportunities.
In that context, Vietnam also possesses many favorable conditions to promote the development of the Halal market, from the support of international organizations to an increasingly complete certification system.
Currently, Vietnam has many favorable conditions to support businesses to develop Halal products. International agencies and organizations such as representatives from Malaysia and some Islamic countries have coordinated to organize training, share experiences, and also have representative offices in Vietnam to issue Halal certification. Therefore, if there is determination and systematic preparation, Vietnamese businesses can completely participate and effectively exploit this market.
Not only stopping at food, Halal is rapidly expanding into many other fields, creating a vast consumer ecosystem with increasingly high demands.
According to Mr. Truong Xuan Trung - Head of the Vietnamese Trade Office in the United Arab Emirates, Halal is no longer limited to food but expands to pharmaceuticals, cosmetics, fashion..., forming a huge consumer ecosystem. Compared to before, Halal requirements today are not only limited to religious elements but have been linked to food safety standards, traceability and sustainable development.
The trend of green Halal, blockchain applications, QR access... is becoming a new requirement. Businesses wanting to enter this market must improve comprehensive standards, not just stop at certificates," he said.
This means that Halal is no longer a "procedure", but a whole production system, from raw materials, processes to supply chain management.
