 |
| Vietnamese Ambassador to Saudi Arabia Dang Xuan Dung. (Photo: Nguyen Hong) |
Attending the third session of Press Corner were Vietnamese Ambassador to Saudi Arabia Dang Xuan Dung; Mr. Nguyen Thanh Binh, Chairman of the Vietnam Fruit and Vegetable Association (Vinafruit); Mr. Hoang Trong Dinh, Sales Director, NhoNho Technology Company Limited.
Commenting on the Halal market, Vietnamese Ambassador to Saudi Arabia Dang Xuan Dung said that this is a very new market for Vietnamese businesses. But this is also a very large market, rich in potential, with a very fast growth rate.
By 2025, the global Halal product market is expected to reach a size of more than 7,000 billion USD and has the opportunity to increase to 10,000 billion USD by 2027. The Muslim population is also growing very quickly compared to other population groups, the population is the consumer, so this will contribute to increasing the attractiveness of this market.
Assessing the potential of the Halal market, Ambassador Dang Xuan Dung said that Vietnam is facing many opportunities and the biggest opportunity comes from the large Halal market, not only the consumer market, but also includes many other markets.
"Halal is a very broad concept, not just food but also includes many other fields such as tourism, pharmaceuticals, Halal finance...", Ambassador Dang Xuan Dung added.
The second opportunity, according to the head of the Vietnamese Representative Office in Saudi Arabia, is that recently the State, Government, ministries and sectors are paying more attention to the Middle East - Africa region and the Halal market. "If there is interest, there will be determination to exploit this market," Ambassador Dang Xuan Dung commented.
The third opportunity is that Saudi Arabian importers and exporters in particular and the Middle East - Africa region in general are very interested in the products of Vietnamese enterprises, opening up opportunities for us to penetrate this market.
Comments on the challenges facing Vietnamese businesses when entering the Halal market. Regarding challenges, we currently know that information is still incomplete, and businesses themselves have not really prioritized the Middle East market. Sometimes we think that Europe and America are enough, but in fact the Halal market still has a lot of potential, but we are still indifferent and have not focused on exploiting it. In addition, in the Halal market, our products are also facing fierce competition from "rivals" such as Thailand and Malaysia.
In recent times, the Vietnamese Embassy in Saudi Arabia has made efforts to support Vietnamese businesses in exploring the Halal market. “Not all businesses have enough money to travel to Saudi Arabia to promote trade, so we will try to provide and update information about the market to businesses. Businesses need to proactively propose information that the Embassy can support.”
"Currently, fraud in some markets in the Middle East has appeared more than before. Therefore, the Embassy will also support businesses in investigating ghost businesses with signs of fraud. If there are any suspicious signs, businesses can immediately contact the Embassy to resolve the issue," Ambassador Dang Xuan Dung noted.
In addition, the Representative Office will continue to support and accompany businesses in trade promotion, product promotion, and actively participate in trade fairs and exchanges in Saudi Arabia and the Middle East market.
"We hope businesses will trust the representative agency," Ambassador Dang Xuan Dung advised.
 |
| Mr. Nguyen Thanh Binh, Chairman of the Vietnam Fruit and Vegetable Association (Vinafruit). (Photo: Nguyen Hong) |
Talking about the Halal market, Mr. Nguyen Thanh Binh, Chairman of the Vietnam Fruit and Vegetable Association, said that after attending the discussion session with the topic "Developing the Halal industry" at the Dialogue between Heads of Vietnamese Representative Agencies Abroad with associations and businesses, I felt excited, mixed with worry and concern.
The Ministry of Foreign Affairs held a separate discussion session on the Halal market, showing great interest in this market. However, through discussions with Ambassadors and businesses, accessing the Halal market is very difficult for small and medium enterprises.
Mr. Nguyen Thanh Binh also commented that many small and medium enterprises do not understand much about this potential market.
“According to the announcements of Ambassadors and Heads of Representative Offices of countries, the cost of Halal certification is very high. This greatly increases the cost and price of products. Besides, this certificate is not permanent. Thus, when the certificate expires, it needs to be reissued. This is a big difficulty for small and medium enterprises,” the Chairman of the Vietnam Fruit and Vegetable Association shared.
 |
| Mr. Hoang Trong Dinh, Sales Director, NhoNho Technology Company Limited. (Photo: Nguyen Hong) |
Mr. Hoang Trong Dinh, Sales Director of NhoNho Technology Company Limited, said that it is undeniable that the potential of the halal market is huge, but along with that, the difficulties are also not small.
Large enterprises have mostly joined this potential market, but in fact, Vietnam has nearly 20,000 cooperatives and small and medium enterprises. For this sector, the cost of participating in Halal is very high.
“Many businesses have called us for advice. Businesses are concerned about the process and Halal certification. Therefore, it is important for business owners to clear their minds, need resources, large costs and need to determine which market to target,” Mr. Hoang Trong Thinh emphasized.
Press Corner Ambassadors & Enterprises, the third session with the theme "The Road to the Halal Market" is the final session in the series of Discussions conducted by The World and Vietnam Newspaper at the Ministry of Foreign Affairs Office (No. 2 Le Quang Dao, Hanoi), reported live on the International Media channel of the electronic newspaper baoquocte.vn.
Source
Comment (0)