Singaporean Businesses Explore Investment & Partnership Opportunities in Hanoi
On October 17, more than 30 representatives from Singaporean businesses participated in a business tour and networking session with technology and food companies in Vietnam. The event was organized by Intel Media & Consulting (a subsidiary of IMCE Singapore) in collaboration with Talentnet Advisory Services (Singapore).
Vietnam-Singapore Trade & Investment Relations
Singapore is one of Vietnam’s most important trade and investment partners in the region. As of August 2022, bilateral trade turnover reached $6.3 billion USD, marking a 16.8% year-on-year increase. Singapore is also the largest ASEAN investor in Vietnam and ranks second among 139 countries and territories with 2,959 active investment projects.
This business tour marks the beginning of a series of activities under the Vietnam-Singapore Business Connection Program, fostering deeper exchanges and collaborations between businesses from both countries. The event takes place as Vietnam and Singapore approach the 50th anniversary of diplomatic relations and the 10th anniversary of their strategic partnership in 2023.
Business Visit to Pushsale Technology JSC
In the morning session, the Singaporean delegation visited Pushsale Technology JSC, where they gained insights into Vietnam’s e-commerce landscape and explored business expansion opportunities via online marketplaces.
Key topics of interest included:
- How Vietnamese businesses connect with e-commerce platforms
- Costs associated with setting up and operating online sales platforms
- Logistics services available for e-commerce sellers in Vietnam
Spotlight on MetaSale Platform
Mr. Đỗ Thắng, Founder of Pushsale, introduced MetaSale, a cutting-edge e-commerce platform that connects businesses with sales collaborators. This model enables sellers to operate without inventory investment, warehousing, or logistics responsibilities.
The MetaSale platform provides a cost-effective solution for businesses looking to expand their market reach while offering flexible income opportunities for a diverse workforce, including office workers, students, and stay-at-home parents.
E-commerce growth in Vietnam and Southeast Asia has been rapid, yet businesses face challenges in order management, shipping, commission structures, and workforce expansion. To remain competitive, companies must transition from manual management to integrated digital solutions.
Enhancing Cross-Border Business Opportunities
During the session, Mr. Daniel Pham, Vice President of IMCE Singapore, facilitated discussions between Singaporean companies and Pushsale representatives, emphasizing the importance of in-depth business networking to unlock new digital commerce opportunities for both markets.
Ms. Li Meiju, representative of Imperium Group (Singapore), shared insights on business expansion strategies in Singapore and proposed the creation of an open sales platform. This initiative aims to connect Singaporean businesses with Vietnamese consumers across multiple industries, including fashion, education programs, and food products.
Exploring Vietnam’s Culinary Business Model – Visit to Tuhu Bread
In the afternoon, the Singaporean delegation visited Tuhu Bread, a well-known Vietnamese sandwich chain, where they explored:
- Vietnamese culinary traditions
- Fast-food chain business models
- Potential food industry collaborations between Singapore and Vietnam
During the visit, Mr. Huang Chun Hsien, a representative from Talentnet Advisory Services (Singapore), presented a commemorative gift to Pushsale Technology JSC, expressing gratitude for the insightful exchange.
Key Takeaways from the Event
Mr. Nguyễn Chí Quý, CEO of Intel Media & Consulting, highlighted Singapore’s position as a global trade and logistics hub. He emphasized that this event provided a valuable opportunity for businesses from both countries to:
- Leverage Singapore’s strengths in innovation, digital economy, and global supply chain diversification
- Tap into Vietnam’s growing e-commerce market as an entry point for Singaporean companies
- Strengthen economic collaboration in the post-pandemic era
This bilateral business connection initiative sets the stage for long-term partnerships and cross-border trade expansion between Singapore and Vietnam.