VietCham helps Vietnamese firms reach out to global markets
VietCham helps Vietnamese firms reach out to global markets
The Vietnamese Chamber of Commerce in Singapore, known as VietCham Singapore (www.vietcham.org.sg), was established in 2013 to support Vietnamese businesses with their regional and global expansion.
On August 19, VietCham Singapore will host a workshop entitled “Singapore as a launch-pad for Vietnamese businesses” in Ho Chi Minh City, aiming to help local firms expand their horizon and move beyond boundaries (www.vietcham.org.sg/be-phong-singapore-cho-doanh-nghiep-viet).
The workshop will focus on establishing and operating company in Singapore, taxation, multilateral trade, banking facilities, capital mobilisation, initial public offerings, and mergers and acquisitions in both Singapore and Vietnam.
Over the years, VietCham Singapore has been supporting various Vietnamese firms to reach out to regional and global market through Singapore gateway.
According to Dr. David Nguyen Quang Vu - VietCham Singapore’s president, his organisation’s goal is to enable Vietnamese businesses with setting up and maintaining companies in Singapore, obtaining all necessary licences and certificates, product distribution and marketing, exhibition, tradeshow and roadshow, business matching, market research and business intelligence, trademarks and intellectual property protection, wealth and asset management, deal-making, M&A and corporate advisory.
“In Singapore, most procedures and applications can be processed online, helping to save time and travel. Businesses may acquire Singapore business licences within 24 hours,” Vu said at a recent workshop on export promotion via Singapore in the Mekong Delta region this April.
VietCham Singapore also successfully hosted the first-ever Vietnam Products and Cultural Fair in Singapore last year, and has started receiving registration from Vietnamese firms to participate VietCham Expo – Singapore 2018 (www.vietchamexpo.sg).
Through this active engagement, Vietnam startups seeking investment fund and market expansion opportunities in Singapore through VietCham has jumped more than five-fold in 2016 as compared to the year before. The Vietnamese Association in Singapore and VietCham Singapore have also established the Vietnam Business Incubator
-R.I.C.H.V.A.S (www.richvas.com), under the umbrella of the association and Vietnamese investment fund Regulus Investment and Capital Holdings (www.regulus.sg). The incubator will help Vietnam startups save significantly on operating costs, while receiving valuable advices, consultation and mentorship on how to establish and operate businesses effectively in Singapore.
“The Vietnam Business Incubator in Singapore provides excellent opportunities for business startups, particularly Vietnamese startups that need local support and investor outreach in host country” said Luong Hoang Hung, deputy chairman of the Vietnam Entrepreneurs Scientific Union. “Businesses at the incubator will have chance to access to various grants from Singapore government, as well as other incentives in tax and support policies on intellectual property.”
VietCham Singapore has been actively supporting many investment projects in sustainable development domain. Vu stressed that while exporting Vietnamese products to the global market, VietCham always prioritises on those brands that make an effort to develop and manufacture their products in a sustainable way.
Gentraco JSC is among those pioneers that VietCham Singapore has championed for its sustainability. Though not the largest rice exporter in the Mekong Delta, the company has invested intensively in its rice products and sustainable agriculture.
Under Miss Can Tho brand, Gentraco’s rice products have made forays into the world’s most demanding markets. The company has also acquired Halal certification, opening its access to huge Islamic markets.
In May 2017, through VietCham Singapore, the Vietnam International Group (VNI) received $1 million fund from Singapore-based investment fund World Gold Investments.
World Gold said it would co-operate with VNI to jointly develop business activities, particularly in consumer business projects, traceable foods, and restaurants. World Gold’s total investment into VNI is expected to reach $15 million by 2019, if projections bear out.
VietCham Singapore’s mission is to represent the common interests of Vietnamese businesses in promoting bilateral trade, services and investments between Vietnam, Singapore and the region. VietCham creates value for its members by providing connections, advocacy and business insights.
VietCham has offices in five countries including Singapore (headquarters), Vietnam, the United Arab Emirates, Australia, and the US.
