Vietnam Seeks Trade Opportunities in the Global Halal Food Industry

Speaking at an online forum organised by the Vietnamese Ministry of Foreign Affairs and Ministry of Agriculture and Rural Development, Vice President of the Vietnam Chamber of Commerce and Industry, Hoang Quang Phung stated that with a Muslim population of nearly 2 billion globally, expenditure on Halal food is expected to increase to USD 15 trillion by 2050 from USD 1.4 trillion in 2020, presenting significant opportunities for growth.

Information from a media report states that the participation of Vietnamese businesses in the global Halal food market has been limited, with some enterprises having exported Halal products. However, this amounts to just a third of the demand coming in from the Organisation of Islamic Coo...