Singapore (VNA) – A seminar on Vietnam–Singapore Halal trade has been held recently in a hybrid format, aiming to highlight Vietnam’s potential and attract foreign investment in Halal-related industries.

The May 24 event was jointly organised by the Vietnam Trade Office in Singapore, the Vietnam Halal Certification Authority (HALCERT) under the Vietnam Certification Centre (QUACERT), Maybank Singapore, and Dawn Horizon Pte Ltd., bringing together 170 enterprises from both countries.

In his remarks, Vietnamese Ambassador to Singapore Tran Phuoc Anh noted that bilateral trade turnover reached a record 31.67 billion SGD (over 24.6 billion USD) in 2024, a 9.49% increase year-on-year, with Halal products playing a significant role.

The ambassador underscored the importance the Vietnamese Government places on the Halal sector, citing the Prime Minister’s 2023 approval of a national project on strengthening international cooperation to build and develop Vietnam’s Halal industry through 2030.

He also emphasised Singapore’s deep expertise in trade development, especially in Halal product exports, and its robust certification system, which is widely recognised by Muslim-majority markets such as Brunei, Indonesia, and Malaysia, along with major trade partners like the United Arab Emirates, Australia, Europe, and the US.

“With these advantages, Singapore serves as an ideal gateway for Halal products entering major Muslim markets, supported by its advanced logistics infrastructure and financial system,” he stated.

Cao Xuan Thang, Trade Counselor and Head of the Vietnam Trade Office in Singapore, provided insights into the trends shaping the Halal market in Muslim-majority countries, identifying both opportunities and challenges. He also emphasised Singapore’s growing demand for Halal products and Vietnam’s export strengths.

He stressed that businesses in both countries can leverage Vietnam’s strong manufacturing base and Singapore’s position as a commercial hub. He also highlighted the advantages of new-generation Free Trade Agreements (FTAs)—in which both Vietnam and Singapore participate—to facilitate deeper access to global Halal markets.

Muhammad Faizal bin Othman, Director of Halal Development at Singapore’s Islamic Religious Council (MUIS), pointed to strong cooperation potential between the two countries, particularly as Vietnam possesses abundant aquaculture and agricultural products that would be shipped to Singapore and globally. He added that Singapore is also looking to expand cooperation with Vietnam’s national Halal certification centre, HALCERT.

Dewi Hartaty Suratty, Founder and CEO of Down Horizon, emphasised the massive potential of the trillion-dollar Halal industry. Singapore is a net food importer, with 90% of its food sourced from abroad, creating significant opportunities for Vietnamese agricultural exports to support Singapore’s food security, she said.

She also underscored Singapore’s global Halal trade connections, which span the Middle East and Southeast Asia, presenting opportunities for companies in both countries to collaborate and expand their market reach.

At the end of seminar, businesses from Vietnam and Singapore participated in direct networking sessions to explore trade and investment opportunities, with a shared goal of expanding the Halal market in the near future./.