Photo for illustration (Source: VNA)
Cao Thi Phi Van, Deputy Director of the HCM City Centre for Trade Promotion and Investment, said some businesses have been actively seeking new markets, including the Muslim community.
However, she added, this market has specific standards that Vietnamese firms must study and follow.
Ramlan Osman, Sales Director at the Halal Centre in Vietnam, said there are over 1.8 billion Muslims worldwide in 57 countries and territories and they only consume Halal-certified products.
He added that Vietnam has a lot of advantages in seizing opportunities in the Halal market thanks to the country’s abundance of suitable raw materials such as coffee, rice, fisheries, spices, beans, and fruit and vegetables.
Nevertheless, he went on, not many businesses or products from Vietnam have been able to soundly access the market over recent years.
Apart from food, Vietnam also has advantages in products relating to health care, cosmetics of natural origin, handicrafts, household items, and tourism services, he added.
It is estimated that demand among the Muslim community for products found in Vietnam is about 34 billion USD per year. But, in fact, Vietnam’s export of such products to this market has reached only 10.5 billion USD, meaning that more than two-thirds of consumer demand, worth 23.6 billion USD, has been missed.
Vietnamese businesses should therefore learn more about the market and identify effective strategies to boost exports, experts have suggested./.