Singapore companies seeks out new opportunities in tandem with Vietnam’s economic growth areas.

Business ties between Singapore and Vietnam have grown with strong momentum over the years. This collaboration was further elevated today with the “Singapore-Vietnam Business Roundtable and Sustainability Showcase”, organised by the Singapore Business Federation (SBF) in Ho Chi Minh City, in conjunction with Her Excellency Halimah Yacob, President of the Republic of Singapore’s State Visit to Vietnam.

A 100-strong audience, comprising top government officials and business leaders from Singapore and Vietnam attended the business roundtable, and identified Sustainability, Innovation and Digitalisation, which are part of Vietnam’s focused areas for its economic development, as the key areas of opportunities for business collaboration. At the roundtable, Singapore and Vietnam companies had a robust discussion and exchanged views on co-operation opportunities in the three areas. The list of Singapore companies that participated in the roundtable is in Annex A.

President Halimah and Minister for Manpower and Second Minister for Trade and Industry, Dr Tan See Leng also delivered remarks at the roundtable. Dr Tan highlighted the wide-ranging sectors and projects in which Singapore and Vietnam companies have partnered. These include the areas of infrastructure, manufacturing, transport and logistics, innovation, and consumer goods and services.

President Halimah also toured the “Sustainability Showcase” which featured ten Singapore companies from eCommerce, consumer/lifestyle, retail and infrastructure sectors. The sustainability showcase brought together new and innovative green products and technologies developed by Singapore companies as part of their ESG efforts. These included renewal energy solutions, sustainable packaging materials, recycled materials transformed to end-consumer products, etc. In line with the Singapore Green Plan 2030, Singapore companies have been proactively venturing into the sustainability space. The showcase provided an opportunity for them to profile their products and services to Vietnamese companies and explore possible areas of collaboration. The list of Singapore exhibitors at the “Sustainability Showcase” is in Annex B.

The showcase was organised by SBF and supported by the Singapore Fashion Council (SFC) and the Singapore Furniture Industries Council (SFIC). By coming together, SBF, SFC and SFIC were able to reach out to their respective members and identify relevant Singapore companies to participate in the showcase.

Mr Wilson Teo, President of SFC mentioned, “Singapore Fashion Council is pleased to participate in this showcase, as part of our mission to promote sustainable practices across the supply chain. As the trade association for fashion, we look forward to building more business connectivity in our industry. This opportunity to showcase our initiatives, programmes and Singapore brands is a start.  We look forward to more bilateral partnerships to strengthen the fashion ecosystem in the region.”

Mr Phua Boon Huat, President of SFIC said, “In line with our SFIC's 2025 industry roadmap with a focus on sustainable urban living, we are happy to partner SBF for the showcase. The showcase not only allows our participating members to present their latest green products and technologies, but also opens up to bigger business opportunities in potential overseas markets like Vietnam.”

Mr Lim Ming Yan, Chairman of SBF said, “Singapore and Vietnam are close economic partners and 2023 will be a key milestone year as we celebrate the 50th anniversary of Singapore-Vietnam bilateral relations and 10th anniversary of strategic partnership. SBF looks forward to boosting business exchanges and collaboration between Singapore and Vietnam businesses and we are planning to bring our flagship event, the Singapore Regional Business Forum to Vietnam next year as part of the celebrations of the milestone year.”

Since the launch of the programme, GlobalConnect@SBF has facilitated 183 projects and provided more than 6,400 advisories to help Singapore businesses venture overseas. Of which, more than 35 projects were concluded for Vietnam and close to 270 Singapore companies have benefitted from SBF’s advisory support to understand Vietnam market. On 1 January 2021, SBF set up the Singapore Enterprise Centre (SEC) in Ho Chi Minh City to provide on-ground support for Singapore businesses. Managed by a team comprising a Country Head and two Market Advisors, the centre provides Singapore businesses with advice and assistance in areas of market entry strategy, incorporation of local presence and business matching.

Annex A: List of Singapore Companies that Participated in the Roundtable