As part of the official visit of the Prime Minister Pham Minh Chinh to Saudi Arabia, on October 29, 2024, the delegation of the Ministry of Agriculture and Rural Development of Vietnam, led by Deputy Minister Hoang Trung, had a working session with the Saudi Food and Drug Authority (SFDA). The delegation was received by Mr. Hishsam S. Aljadhey, Governor of SFDA, and his colleagues.
At the meeting, Deputy Minister Hoang Trung highly appreciated the positive cooperation between the authorities of Saudi Arabia, especially SFDA, in the past time to promote trade in agricultural, forestry, and aquatic products between the two countries.
Vietnam always acknowledges Saudi Arabia as a large market and one of its important partners in the Middle East region. Most of the main exported agricultural, forestry, and aquatic products to the Saudi market have grown strongly in the first nine months of 2024, especially fruits and vegetables (US$10.9 million, up 51.4%), rice (US$22.7 million, up 43.7%), and pepper (US$12.5 million, up 34%). Only seafood experienced a slight decrease (US$59.1 million, down 0.2%).
Based on the good cooperation between the two countries and to promote the export turnover of agricultural, forestry, and aquatic products, Deputy Minister Hoang Trung proposed that SFDA soon lift Directive No. 21174 dated January 23, 2018, on the temporary suspension of importing farmed seafood from Vietnam.
Mr. Hishsam S. Aljadhey affirmed that he would send a technical delegation to Vietnam to evaluate the reality of the food safety control system for the farmed seafood production chain as soon as possible, thereby having a basis for lifting the entire import suspension for Vietnam’s farmed seafood.
Also at the meeting, Deputy Minister Hoang Trung shared information about the National Halal Conference on the theme of “Promoting Internal Resources, Strengthening International Cooperation to Promote the Development of Vietnam’s Halal Industry” chaired by Prime Minister Pham Minh Chinh on October 22. At this event, the Embassy and Saudi partners in Vietnam also shared very useful regulations and experiences for Vietnamese state management agencies and businesses.
In the framework of international economic cooperation, the Halal market is opening up many great cooperation opportunities with outstanding potential. The global Halal market is forecasted to reach a scale of up to US$10 trillion by 2028, spanning the world, from Islamic to non-Islamic countries, with a Muslim population expected to reach 2.8 billion by 2050, accounting for nearly 30% of the global population.
“Vietnam wishes to cooperate with Saudi Arabia in the production and certification of Halal products,” said Deputy Minister Hoang Trung, requesting the Saudi side to provide market information and preferences to promote Vietnamese agricultural products to the Halal food market in Saudi Arabia.
In addition, Deputy Minister Hoang Trung also proposed that SFDA share policies and regulations on mutual recognition of Halal certification, focusing on crop, aquatic, and livestock products.
Mr. Hishsam S. Aljadhey said that the Saudi government is implementing the 2030 Vision Strategy, which focuses on diversifying food and food sources. Therefore, cooperation on Halal products with Vietnam, especially agricultural, forestry, and aquatic products, is one of Saudi Arabia’s top priorities.
“SFDA is ready to share experiences and regulations on Halal certification with the management authority of Vietnam,” affirmed Mr. Hishsam S. Aljadhey, and suggested that the Ministry of Agriculture and Rural Development of Vietnam consider signing a memorandum of understanding on cooperation in this field with Saudi Arabia.
Deputy Minister Hoang Trung agreed with SFDA’s initiative and will direct the agencies under the Ministry to exchange and discuss specifically with the Embassy of Saudi Arabia in Vietnam and SFDA about the above proposal.
Striving to Reach the $10 Billion Trade Milestone Between Vietnam and Pakistan
On the morning of October 30, as part of his visit to Saudi Arabia to attend the 8th Future Investment Initiative (FII) conference, Prime Minister Pham Minh Chinh met with his Pakistani counterpart, Prime Minister Shehbaz Sharif.
“Revolutionizing Logistics for the New Era”
Ranking 43rd in the Logistics Performance Index, within the top 5 ASEAN countries in 2023, Vietnam’s logistics industry is rapidly developing, thanks to its strategic geographical location and production capabilities. However, it’s not just about relying on existing potential and advantages; a transformative leap is necessary to thrive in this new era.
Unlocking the Pre-Funding Knot: A Jubilant Yet Cautionary Tale
The new circular addressing pre-funding obstacles takes effect immediately from November 2, 2024, marking a significant step forward in Vietnam’s stock market upgrade aspirations. While this move brings the market closer to its goal, it also presents a unique set of challenges that cannot be overlooked.
The Race to Retail: Temu’s Unregistered Operations in Vietnam
As of October 23rd, the Department of E-Commerce and Digital Economy announced that Temu, a Chinese e-commerce platform, has not registered to operate in Vietnam.
“Vietnam and UAE Elevate Bilateral Ties to Comprehensive Partnership”
On October 28, 2024, in Abu Dhabi, Prime Minister Pham Minh Chinh held talks with UAE President Sheikh Mohammed bin Zayed Al Nahyan. During this significant meeting, the two leaders agreed to elevate bilateral relations to a Comprehensive Partnership, marking a new chapter in the diplomatic ties between Vietnam and the UAE.
