The Halal economy has emerged as one of the most dynamic and rapidly expanding sectors of the global economy, driven by the consumption demand of more than 1.9 billion Muslims worldwide. The Halal market has expanded beyond food products to encompass a wide range of sectors, including pharmaceuticals, cosmetics, tourism, logistics, and Islamic finance. Vietnam is considered to possess significant potential to participate in the global Halal supply chain due to its abundant agricultural resources, strong food processing capabilities, and extensive network of free trade agreements. However, the Halal economic ecosystem in Vietnam remains at an early stage of development, with limitations related to institutional frameworks, certification systems, and enterprise capacity. This study examines the current state of the Halal economic and trade ecosystem in Vietnam and identifies key challenges hindering its development. Based on this analysis, several policy recommendations are proposed to promote the sustainable development of Vietnam’s Halal ecosystem and enhance its integration into the global Halal market.