Halal food exports offer Vietnam big opportunity

Halal food is a promising export product for Vietnamese companies to pursue though they may face challenges.

Halal food exports offer Vietnam big opportunity
A booth at a food exhibition in HCM City. Halal food is a promising export product for Vietnamese companies to pursue though they may face challenges. — Photo congthuong.vn

The Halal Certification Agency in HCM City said hundreds of local enterprises have recently sought instructions for exporting to markets like Taiwan and Nepal.

Many like Orion Vina, Vinamilk, Nestle Vietnam, Cai Lan Oils and Fats Industries Company, Tuong An Vegetable Oil Company, Minh Phu Seafood Corporation, and An Phu Seafood Corporation have received Halal certification.

Halal refers to meat from an animal that has been killed in the way that is demanded by Islamic law.

Nguyen Thi Ngoc Hang, marketing head of the Halal Certification Agency, was quoted by Nguoi Lao Dong (The Labourer) newspaper as saying Vietnam has a great advantage thanks to its huge agricultural and fisheries resources.

The export opportunities are huge if enterprises have well-trained human resources, she said.

At a recent conference on the potential of the halal market, experts said companies should register for certification as it is a sign that tells halal customers their products are suitable for them.

The conference said the market would be worth trillions of dollars as the Muslim population increases from 1.5 billion in 2010 to 2.7 billion by 2050.

Nepal and Taiwan are two promising markets.

Currently, trade between Vietnam and Nepal is modest compared to the potential, according to the Ministry of Industry and Trade.

 

Taiwan is also a huge market and Vietnamese products are quite competitive there, with many Vietnamese types of products being exported.

But experts said the challenges would face companies right at the stage of registering for a halal certificate.

Hang said the fees are not low and the certificates are different for different markets, meaning companies need to get many different ones.

Dang Hoang Giang, deputy chairman of the Vietnam Cashew Association, said in many markets, Vietnam has no diplomatic presence and so companies have difficulty getting assistance.

Geographical distance remains an obstacle too and it takes one to two months to ship goods to Africa, he said.

Payment is also a problem since importers in many of these markets do not offer letters of credit from banks.

The Ministry of Industry and Trade warns exporters to be careful when selling to these new markets.

They should first collect information about importers from third parties like trade offices, business groups and logistics companies, it said. — VNS

Vietnam’s dairy industry to boost exports

Vietnam’s dairy industry to boost exports

Vietnam’s dairy makers are accessing more opportunities to increase exports, but companies need to enhance their competitiveness in foreign markets and develop a concentrated production scale.

Bloomberg: Vietnam’s goods exports to US surge

Bloomberg: Vietnam’s goods exports to US surge

Vietnam was one of the fastest-growing import sources of the US in Asia in the first quarter of 2019, according to Bloomberg.

Philippine rice tariffication law to benefits Vietnam’s exporters

Philippine rice tariffication law to benefits Vietnam’s exporters

In the first four months this year, the Philippines has leapfrogged China to become Vietnam’s largest rice importer.

 
 

Other News

.
Struggles forecast on ending earnings season, rally lock-in
Struggles forecast on ending earnings season, rally lock-in
BUSINESSicon  19/10/2020 

The market will struggle in the coming days as the third-quarter earnings season is near its end and investors will try to realise their profits following recent rallies.

Investors see agricultural processing sector as ripe for plucking
Investors see agricultural processing sector as ripe for plucking
BUSINESSicon  19/10/2020 

On September 27 construction of a US$66 million hi-tech agricultural complex began in the Central Highlands province of Dak Lak.

Russian locality hopes to boost trade ties with Vietnam
Russian locality hopes to boost trade ties with Vietnam
BUSINESSicon  19/10/2020 

The Udmurtia Republic, a federal subject of Russia, is planning a webinar on November 17 to promote its export and investment potential to Vietnamese businesses and agencies.

Boeing to bring more technologies to local airlines
Boeing to bring more technologies to local airlines
BUSINESSicon  18/10/2020 

To cope with the COVID-19 pandemic, Boeing has sped up its ecoDemonstrator programme to support its partner airlines, including those in Vietnam.

VN has been active as foreign companies plan investment relocation
VN has been active as foreign companies plan investment relocation
BUSINESSicon  18/10/2020 

Vietnam has been seen as an ideal destination for foreign companies looking for elsewhere to relocate production channels in a bid to diversify their supply chains in the post-Coronavirus pandemic.

Exploitable security plagues digitalisation
Exploitable security plagues digitalisation
BUSINESSicon  19/10/2020 

Disruptive technologies spur the evolution in the financial landscape, with comprehensive applications providing convenient access to customers’ banking needs.

New FTAs puts logistics in limelight
New FTAs puts logistics in limelight
BUSINESSicon  19/10/2020 

New-generation free trade agreements are increasing the importance of domestic logistics groups, with Vietnam emerging as a safe yet high-return market for overseas parties pouring money into new developments.

MoIT helps enterprises deal with increasing trade remedy cases
MoIT helps enterprises deal with increasing trade remedy cases
BUSINESSicon  17/10/2020 

Vietnam’s export goods face more trade remedies in the process of deep economic integration, so the Ministry of Industry and Trade has developed solutions for the situation.

ASEAN pushes forward with 5G connectivty cooperation
ASEAN pushes forward with 5G connectivty cooperation
BUSINESSicon  17/10/2020 

As ASEAN chair this year, Vietnam is playing a crucial role in further cementing joint activities within the bloc via boosting the application of high technologies to adapt to Industry 4.0, which is sweeping throughout the region.

Macadamia nuts ripe for billion-dollar expansion
Macadamia nuts ripe for billion-dollar expansion
BUSINESSicon  19/10/2020 

Vietnam wants to earn around $1 billion from growing macadamia by 2030, and although some plantations have achieved partnerships with domestic buyers, 

Real estate stocks await cash flow
Real estate stocks await cash flow
BUSINESSicon  17/10/2020 

Domestic and foreign capital flow is expected to bolster real estate shares after the COVID-19 pandemic as many investors are paying attention to the industry.

Online exports require professionalism
Online exports require professionalism
BUSINESSicon  17/10/2020 

Using online platforms to boost exports is the fastest way to bring Vietnamese goods to the world, said business leaders and industry experts.

Vietnam to become the 4th largest economy in Southeast Asia: IMF
Vietnam to become the 4th largest economy in Southeast Asia: IMF
BUSINESSicon  17/10/2020 

Vietnam's GDP is estimated to reach US$340.6 billion this year, making it the fourth-largest economy in Southeast Asia.

Long Thanh Airport: investment rate high, ACV may lack money
Long Thanh Airport: investment rate high, ACV may lack money
BUSINESSicon  19/10/2020 

The Ministry of Finance (MOF) has warned about problems with the Long Thanh International Airport project, citing capital arrangement capability.

The dark future of hotels on 'golden land' in Hanoi
The dark future of hotels on 'golden land' in Hanoi
BUSINESSicon  18/10/2020 

A series of hotels have had to cancel their opening plans this year because of Covid-19. Many hotels have been put up for sale because of poor patronage.

Special day for two billionaires: mountains of money pouring in
Special day for two billionaires: mountains of money pouring in
BUSINESSicon  18/10/2020 

Techcombank share prices have soared, while the Hoa Phat Group of the billionaire Tran Dinh Long has reported a record 30-year profit. The prosperity of these enterprises has helped their owners earn more money despite Covid-19.

Many hoteliers intend to divest capital due to heavy losses
Many hoteliers intend to divest capital due to heavy losses
BUSINESSicon  16/10/2020 

Over the past eight months, hotel room tariffs have plunged and hotel room occupancy rates have remained low, forcing several hoteliers to divest capital with many financially weak hotels in the local market being put up for sale.

Meeting expectations of the corporate bond market
Meeting expectations of the corporate bond market
BUSINESSicon  16/10/2020 

A new government decree tightens conditions on the issuance of corporate bonds. However, before the decree came into effect, enterprises flooded the market with new issuances.

M&A activities signal promising fortunes
M&A activities signal promising fortunes
BUSINESSicon  17/10/2020 

Although merger and acquisition levels dropped in 2020 across Vietnam, the prospect for such activities remain bright for next year as overseas investors look to local businesses in order to improve market access.

Thai billionaire, European brewer lose money in Sabeco investment deal
Thai billionaire, European brewer lose money in Sabeco investment deal
BUSINESSicon  16/10/2020 

The Sabeco price has seen a strong recovery in the last half a year, but is still at a low price. Both Thai billionaire and the big brewer Heineken have lost money because of the drop in Sabeco share price.

 
 
 
Leave your comment on an article

OR QUICK LOGIN