At the signing ceremony of the MoU between Beyond World Company (Vietnam) and ACCI (Malaysia). — VNA/VNS Photo

Vietnamese enterprises have signed three memoranda of understandings (MoUs) with Malaysian exporters and distributors for cooperation in the Halal industry at the 20th Malaysia International Halal Showcase (MIHAS).

Vietnamese firms specialising in food and beverage, processing, handicrafts, consumer goods, spices, sauces and agricultural products were part of a 22-strong delegation at the event, which was organised by the Investment and Trade Promotion Centre (ITPC) of Hồ Chí Minh City.

Addressing a programme to connect Vietnamese firms with Malaysian importers and distributors, ITPC Vice Director Hồ Thị Quyên said that in the first eight months of this year, trade between the city and Malaysia reached about US$3.5 billion, a surge of 45 per cent year-on-year, including HCM City’s exports of $555 million, a rise of 33 per cent.

The city’s key export products to the Malaysian market included computers, electronic products and components, machinery, textiles, rice and seafood.

In the first seven months of this year, 16 Malaysian-invested projects worth over $1.4 million were licensed in Việt Nam, she said, adding that the two countries are striving for $25 billion in two-way trade by 2030.

Vietnamese Counsellor in Malaysia Lê Phú Cường said that the Vietnamese Government has identified Halal products as a major export product to Muslim countries.

Cường said that on October 22, Việt Nam will organise the first International Halal Conference to discuss the promotion of international cooperation and mobilisation of internal resources for sustainable Halal industry development in Việt Nam.

This conference shows Việt Nam’s determination to encourage more businesses to engage in the Halal industry, he said.

Meanwhile, Director of China & Northeast Asia and ASEAN & Oceania Section at the Malaysia External Trade Development Corporation (MATRADE) En Mazlan Hurun said that Việt Nam's dynamic industries, especially in the food and beverage sector, fit perfectly with Malaysia's growing business landscape, creating many opportunities for collaboration.

The Halal market, which is expected to reach $3.2 trillion in 2027, is considered a significant opportunity for both Việt Nam and Malaysia. Hurun encouraged businesses to cooperate with Malaysian companies and take advantage of the great opportunities that the MIHAS brings.

MIHAS 2024 set the Guinness World Record for the largest number of attendees at a Halal trade exhibition. — VNS