The Global Islamic Economy Report (SGIE) predicts that spending on halal products and services will reach $1.67 trillion by 2025, with Southeast Asia, South Asia and the South Pacific being the regions with the largest consumption of halal food globally.

With its proximity to many predominantly Muslim countries, Vietnam has easy access to millions of consumers, creating opportunities for Vietnamese companies to expand their operations and boost domestic production activities. In addition, many Muslim markets are willing to open their doors to Vietnamese agricultural products. Therefore, new regulations adapted to this market will help Vietnamese enterprises and cooperatives improve their competitive edge in the market.

Experts noted that the halal market, with its large size and growing demand, is expected to generate significant revenue and diversify products for Vietnamese companies. Currently, the Organization of Islamic Cooperation (OIC) has 57 member countries, and the global Muslim population exceeds 2 billion, accounting for 25% of the global population, with an annual growth rate of 2.9%. This market has a unique business culture that often requires halal certification for food industry products.

The Global Islamic Economy Report (SGIE) predicts that spending on halal products and services will reach $1.67 trillion by 2025, with Southeast Asia, South Asia and the South Pacific being the regions with the largest consumption of halal food globally.

Fully aware of the importance of the global halal market as well as its potential and advantages, Vietnam has focused on developing the halal industry in recent years. Vietnam has formulated a Halal Industry Development Strategy to 2030. Established the National Halal Certification Center, and improved the laws and regulations on halal and national standards; Several halal cooperation agreements have been signed with partners from both Muslim and non-Muslim countries. In addition, institutions, enterprises and associations at all levels, from central to local, are increasingly focusing on investment, production and expanding exports to the global halal market.

In order to enter this market, Vietnamese products need to meet halal standards and be certified by an authority. Vietnam also needs to focus on improving its legal framework, supporting human resources training, and working with international partners. In particular, there is a need to promote the promotion of halal brands and products in Vietnam, which is a key factor in increasing exports and developing the halal industry in Vietnam.