Vietnam, the Philippines, and New Zealand are emerging as key players in the burgeoning halal economy, driven by strategic initiatives and entrepreneurial innovation. With the global halal market estimated at a staggering US$3 trillion, these nations are proactively positioning themselves to capitalize on the growing demand for ethically sourced and Sharia-compliant products and services.
Vietnam’s Halal Push
Vietnam is making significant strides in developing a comprehensive halal product ecosystem. Experts are advocating for a more robust framework to fully leverage the country’s abundant raw materials suitable for halal production. The nation’s increasing recognition as a tourist destination further boosts its food service sector, creating additional opportunities for halal-certified businesses. A recent trade promotion conference in Hanoi underscored the importance of enhancing the exploitation of the global Halal product market, signaling a strong commitment from Vietnamese stakeholders. The Vietnam Cashew Association, for instance, has emphasized the necessity of Halal certification for exporting cashew products, highlighting that a substantial volume of Vietnamese cashews, valued at $3.8 billion in 2024, were exported to key markets with Halal certification.
Philippines Focus on Halal Certification
In the Philippines, Malaysia’s Department of Islamic Development (JAKIM) is considering establishing a world-class halal certification body. This initiative aims to boost the domestic halal industry in the Philippines and align it with international standards, potentially transforming the country into a significant halal hub in Southeast Asia. The move is expected to streamline certification processes and enhance the credibility of Philippine halal products in the global market.
New Zealand’s Halal Tourism Boom
New Zealand is experiencing a surge in halal tourism, largely driven by Malaysian entrepreneurs who are pioneering halal-friendly travel experiences. These innovative businesses are catering to the specific needs of Muslim travelers, offering services and amenities that adhere to Islamic principles. This influx of halal tourism is reshaping New Zealand’s tourism landscape, attracting a new segment of visitors and contributing to the country’s economic growth.
Conclusion
These developments highlight the increasing importance of the halal economy and the proactive measures taken by Vietnam, the Philippines, and New Zealand to tap into this lucrative market. As the global demand for halal products and services continues to rise, these nations are poised to become prominent players in the ethical business boom.