Vietnam’s Major Opportunity to Develop Halal Industry into a Strength
The global Halal market is presenting significant growth prospects for Vietnam’s export services and international logistics, with the Muslim population reaching approximately 1.94 billion people in 2022 and expected to grow to 2.8 billion by 2050. The Halal economy, valued at $7 trillion in 2022, is projected to reach $10 trillion by 2028, providing substantial potential for logistics companies and cargo services.
Currently, Vietnam exports around 20 types of products to the Halal market, with nearly 1,000 companies certified for Halal compliance. With strengths in agricultural exports like rice, tea, coffee, and seafood, international transport services have an opportunity to expand cargo transport to Muslim-majority markets.
Halal-Certified Products from Ben Tre Province
However, logistics and export sectors face challenges due to varying Halal standards and certification procedures across different countries. Freight forwarders and international shipping providers will need to invest in specialized warehousing and Halal-compliant container transport systems to meet these standards.
To capitalize on this opportunity, transport companies and exporters should focus on building a complete Halal supply chain. This includes certified container transportation, specialized warehousing, and strict compliance with Halal requirements for international shipping.
The establishment of the National Halal Certification Center in April 2024 is a significant step, facilitating export activities and logistics services. Transport and export companies can leverage this to expand market access and enhance service quality.
To sustain growth in the Halal market, Vietnam’s logistics sector should increase international collaboration, particularly with partners in Southeast Asia, the Gulf, and the Middle East. Adopting advanced technology in cargo handling and supply chain management will also be critical for boosting competitiveness in the global Halal market.
