HCMCity (VNA) – A forum was held in Ho Chi Minh City on October 31 toboost cooperation and development in the Halal industry in the Association of Southeast⛦ Asian Nations (ASEAN).

Speakingat the event, Vice Chairman of the municipal People’s Committee Vo Van Hoansaid theIslamic world now has over 2 billion people living in 112 countries, 57 of themare members of the Organisation of Islamic Cooperation (OIC). Thedevelopment of the Halal industry will draw Islamic investors and tourists toVietnam, contributing to national development and enhancing cooperation with 57OIC members, he said. Indonesian Consul General in Ho Chi Minh City AgustavianoSofjan said according to the State of the Global Islamic Economy Report (SGIE) 2022,the expenditure on Halal products and services is forecast to reach 2.8trillion USD by 2025, compared to 2 trillion USD in 2021. He said in addition to food, various other aspects of Halalliving, including modest fashion, pharmaceuticals, cosmetics, tourism, mediaand entertainment, also hold significant potential. The Islamic finance sector reached3.6 trillion USD in 2021, and there is still a demand for further expansion. Cao Thi Phi Van, Vice Director of the HCM City Investment and TradePromotion Centre (ITPC), cited statistics from the General Department ofVietnam Customs as saying that Vietnam’s total turnover ofexport-import to countries with large numbers of Islams in ASEAN reached over 26.37 billion USD inthe first nine months of this year, including 143 million USD to Brunei, 10.18 billion USD to Indonesia, 9.31 billion USD to Malaysia and 6.7 billion USD to Singapore, which was modest compared to the potential ofthe region. So far, Vietnam has only exported about 20 kinds of productsto the Halal market while 40% of Vietnamese localities have yet to have Halalcertified products for export. Ly Kim Chi, Chairwoman of the Ho Chi Minh City Food andFoodstuff Association, said Vietnam is among the top 20 food exporters globallybut has not yet made it into the list of the top 20-30 suppliers of Halal food. According to her, the Halal certification process currentlydoes not have permanent validity and is not universally recognised in allcountries or for all products. This poses significant challenges for businessesas they have to undergo recertification multiple times and tailor theircertifications to each export market's specific requirements. Therefore, strengthening regional cooperation between HCM City and adjacent localities, as well as between Vietnamese firms andthose from countries with a developed Halal industry, is of utmost importance,she said, adding that this not only raises awareness among businesses aboutHalal standards but also improves their export opportunities, whilefacilitating the establishment of a complete supply chain from raw materialsupply, production, distribution, and export according to Halal standards./.