From Vietnam’ s agricultural production capacity to Singapore’ s strengths in finance, logistics and certification expertise, both countries see opportunities to build a complementary ecosystem that could strengthen Southeast Asia’ s position in the fast-growing halal economy.

The potential for collaboration was highlighted during the Halal Business Seminar 2026, themed“ Singapore – Vietnam and Beyond: Building the Regional Halal Value Chain”, which brought together policymakers, certification bodies, financial institutions and businesses to discuss opportunities in the sector.

Vietnamese Ambassador to Singapore Tran Phuoc Anh said the halal economy represents a new area of cooperation between both countries and could further

strengthen their Comprehensive Strategic Partnership.

He highlighted the scale of the global halal market, which spans beyond food products into areas such as pharmaceuticals, cosmetics, tourism, logistics, Islamic finance and digital services.

BRIDGING PRODUCTION AND MARKETS

Serving nearly two billion Muslim consumers globally, the halal economy is estimated to exceed US $ 7 trillion annually, with demand continuing to rise across Southeast Asia, the Middle East, Europe, Africa and North America.

For Vietnam, the expanding halal market presents an opportunity to diversify export destinations while strengthening supply chain resilience.

The country has introduced a national strategy to develop its halal industry through 2030, focusing on improving certification capabilities, upgrading production systems and encouraging businesses to pursue international partnerships.

Tran said Vietnam’ s established strengths in agriculture, seafood and food processing provide a strong foundation for halal production,

while Singapore offers complementary advantages through its role as a regional hub for finance, logistics, innovation and internationally recognised certification systems.

Together, these capabilities could create a value chain in which production, certification, processing, financing, and distribution are better connected— allowing Southeast Asian businesses to compete more effectively in international markets.

However, industry stakeholders noted that differences in certification remain one of the biggest challenges affecting halal trade across the region.

MUTUAL RECOGNITION

Tan Teck Lee, country head for Thailand, Malaysia and the Philippines at the Singapore Business Federation, said greater harmonisation or mutual recognition of halal standards would help simplify regulations, improve inspection processes and facilitate smoother movement of goods.

He added that Vietnamese companies could benefit by investing more in innovation and research and development( R & D), while leveraging Singapore’ s position as a logistics and distribution hub to

access wider international markets.

Meanwhile, Dawn Horizon Founder and CEO Dewi Suratty said Vietnam has significant potential to expand its halal industry, driven by its strong agricultural and seafood sectors.

She proposed a model where Southeast Asian countries work together based on their respective strengths- with Vietnam supplying raw materials, Singapore supporting processing, logistics and market connectivity, and regional partners contributing to the wider supply chain.

Such an approach, she said, would allow countries to move beyond competing individually and instead build a more integrated halal ecosystem.

The discussions also highlighted the importance of strengthening regional cooperation as Southeast Asian countries seek a larger role in the global halal economy.

With rising demand for halal products and growing interest from international markets, stronger partnerships among producers, certification bodies, financial institutions, and logistics providers could help transform Southeast Asia into a more competitive halal hub.-