Vietnam, Malaysia eye golden partnership opportunities in Halal industry

Cooperation in the Halal industry can help Vietnamese products reach nearly 2 billion Muslim consumers worldwide, representing over 24% of the global population, according to Malaysia’s Minister of Investment, Trade, and Industry Zafrul Abdul Aziz.

Illustrative photo (Source: VNA)
Illustrative photo (Source: VNA)

Zafrul said that during his visit to Vietnam in July, the two countries agreed to enhance their understanding and efforts to boost Halal collaboration.

Malaysia is committed to sharing expertise and supporting Vietnam in strengthening its position in the Halal value chain, including ensuring that products meet Halal standards, with full traceability from origin to retailers, restaurants, and consumers, he affirmed.

During previous visits by Malaysian Prime Ministers Muhyiddin Yassin in March 2021 and Ismail Sabri Yaakob in March 2022, the two sides underscored the importance of expanding cooperation in areas like Halal, logistics, Islamic finance, tourism, and Halal-friendly services.

The two sides aim to increase bilateral trade to 18 billion USD by 2025, capitalising on their respective strengths. Vietnam, with its diverse and expanding agricultural sector, is a key exporter of high-quality produce, while its proximity to Malaysia makes transportation both efficient and cost-effective.

Jamilah Haji Hassan, Senior Director of ASEAN Economic Integration at Malaysia’s Ministry of International Trade and Industry (MITI), expressed her support for greater collaboration between the two countries in the Halal food sector.

Vietnam has been exporting Halal food products to Malaysia since 2016, with exports totalling 5.32 billion RM (around 1.19 billion USD) between 2016 and 2020. Malaysia aims to help Vietnam become one of the top 10 Halal food exporters globally, offering expertise in Halal standards and facilitating better access to the Malaysian market.

Vietnam’s Halal sector can also benefit from the services provided by Malaysia’s trade promotion agency, MATRADE. Events like the Malaysia International Halal Showcase (MIHAS) offer valuable opportunities for Vietnamese companies to explore partnerships, he held.

Malaysia is currently Vietnam's second largest trading partner in ASEAN, and the 11th biggest globally. Meanwhile, Vietnam is Malaysia's third largest trading partner in ASEAN.

Economy

Aquatic exports hit 10 billion USD
Economy

Aquatic exports hit 10 billion USD

Vietnam's aquatic exports reached 10 billion USD in 2024, driven by shrimp and pangasius, despite challenges related to markets, logistics, and raw materials, the Vietnam Association of Seafood Exporters and Producers (VASEP) said on December 23.

Vietnam's potential promoted to Mexican businesses
Economy

Vietnam's potential promoted to Mexican businesses

A delegation from the Vietnamese Embassy in Mexico led by Ambassador-Designate Nguyen Van Hai has paid a working trip to Guanajuato state to explore opportunities for cooperation between Vietnam and Mexico, as well as between Vietnamese localities and Guanajuato. ​

Localities report progresses in IUU fishing combat
Economy

Localities report progresses in IUU fishing combat

Coastal localities nationwide have implemented practical and effective activities and specific measures, demonstrating their determination to join the nation’s efforts to have the “yellow card” that the European Commission (EC) has imposed on Vietnamese seafood regarding illegal, unreported, and unregulated (IUU) fishing lifted in 2024.

Da Nang Hi-Tech Park attracts 177-million-USD FDI project
Economy

Da Nang Hi-Tech Park attracts 177-million-USD FDI project

The Da Nang Hi-Tech Park continues to strengthen its position as a leading investment hub with the recent in-principle approval of a 177-million-USD project by Dentium Co., Ltd., from the Republic of Korea (RoK).This significant investment brings the total registered foreign direct investment (FDI) in the park to 875.2 million USD, spanning 13 projects.