TẠP CHÍ ĐIỆN TỬ
Vietnam, Singapore partner to boost Halal market
A seminar in Singapore highlights Vietnam’s potential in Halal product manufacturing, attracting foreign investment in Halal-certified industry.
Vietnam-Singapore trade turnover reached a record SGD31.67 billion (over $24.6 billion) in 2024, marking a 9.49% increase compared to 2023, with Halal products playing a significant role, the Vietnam News Agency quoted Vietnamese Ambassador to Singapore Tran Phuoc Anh as saying.
Speaking at the Vietnam-Singapore Halal Trade Seminar, held in a hybrid format on May 24, the ambassador emphasized the Vietnamese government’s commitment to the Halal market, citing the Prime Minister’s 2023 decision to approve the Project on Strengthening International Cooperation to Build and Develop Vietnam’s Halal Industry to 2030.
Ambassador Anh highlighted Singapore’s extensive expertise in trade development, particularly Halal product exports, supported by its well-established certification system—widely recognized by Muslim-majority markets such as Brunei, Indonesia, Malaysia, the UAE, Australia, Europe, and the USA.
“Singapore’s strategic position and advanced logistics and financial infrastructure make it an ideal gateway for Halal products to enter global Muslim markets,” he noted.
The seminar aimed to showcase Vietnam’s potential in Halal product manufacturing, attracting foreign investment in Halal-certified industries such as joint ventures, certification recognition, freight, logistics, and import-export operations.
Mr. Cao Xuan Thang, Commercial Counselor and Head of the Vietnam Trade Office in Singapore, discussed Singapore’s demand for Halal products and Vietnam’s key export items, affirming that businesses in both countries can leverage Vietnam’s production strengths and Singapore’s role as a commercial hub. He emphasized the advantage of new-generation free trade agreements (FTAs), which both Vietnam and Singapore are part of, to help penetrate Muslim markets.
Mr. Muhammad Faizal bin Othman, Director of MUIS, Singapore’s government agency overseeing Islamic affairs, noted strong collaboration potential between Singapore and Vietnam, given Vietnam’s abundant aquaculture and agricultural products, which can be exported to Singapore and beyond. Singapore is also looking to expand cooperation with Vietnam’s national Halal certification center, HALCERT.
Affirming the trillion-dollar potential of the Halal industry, Ms. Dewi Hartaty Suratty, Founder and CEO of Down Horizon, highlighted that Singapore imports 90% of its food, creating significant opportunities for Vietnamese agricultural exports to enhance Singapore’s food security.
She also underscored Singapore’s global Halal trade connections, spanning the Middle East and Southeast Asia, presenting an opportunity for businesses in both countries to collaborate and expand market access.
