The Vietnamese firms specializing in food and beverage, processing, handicrafts, consumer goods, spices, sauces and agricultural product manufacturing were joining a delegation of 22 businesses to the event, which was organized by the Investment and Trade Promotion Center (ITPC) of Ho Chi Minh City.
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At the signing ceremony of the MoU between Beyond World Company (Vietnam) and ACCI (Malaysia) |
Addressing a program to connect Vietnamese firms with Malaysian importers and distributors, ITPC Vice Director Ho Thi Quyen said that in the first eight months of this year, the trade between the city and Malaysia reached about USD 3.5 billion, a surge of 45% year on year, including Ho Chi Minh City’s exports of USD 555 million, a rise of 33%.
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 USD 1.4 million were licensed in Vietnam, she said, adding that the two countries are striving for USD 25 billion in two-way trade by 2030.
Vietnamese Counsellor in Malaysia Le Phu Cuong said that the Vietnamese government has identified Halal products as the major export product to Muslim countries.
Cuong said that on October 22, Vietnam will organize the first International Halal Conference to discuss the promotion of international cooperation and mobilization of internal resources for sustainable Halal industry development in Vietnam.
This conference shows Vietnam’s determination to encourage more businesses to engage in the Halal industry, he said, adding that the participation of Malaysia will help Vietnamese companies better serve global consumers with Halal certified products.
Meanwhile, Director of China & Northeast Asia and ASEAN & Oceania Section at the Malaysia External Trade Development Corporation (MATRADE) En Mazlan Hurun said that Vietnam's dynamic industries, especially in the food and beverage sector, fit perfectly with Malaysia's growing business landscape, creating many opportunities for collaboration.
He held that the Halal market, which is expected to reach USD 3.2 trillion in 2027, is considered a significant opportunity for both Vietnam and Malaysia. Hurun encouraged businesses to cooperate with Malaysian companies and take advantage of the great opportunities that the MIHAS brings.
The MIHAS is an annual trade exhibition for businesses serving the Muslim and Halal consumer market, such as F&B, cosmetics, pharmaceuticals, tourism, and finance. The MIHAS 2024 set the Guinness World Record for the largest number of attendees at a Halal trade exhibition.
Source: VNA