Singapore helps Vietnamese SMEs penetrate large-scale markets
VOV.VN - Making the most of the high-quality services and open mechanisms of Singapore is key to help Vietnamese SMEs expand their export markets and overcome challenges to penetrate regional and global markets, according to industry insiders.
The statement was made by experts during a workshop held in Ho Chi Minh City on October 7 organised by the Ho Chi Minh City Investment and Trade Promotion Center.
Tran Phu Lu, deputy director of the ITPC, said Singapore plays a crucial role in the regional economy due to its strategic location as a hub for international maritime shipping routes, in addition to its high-quality human resources.
Phan Phi Long, director of Vietcham Singapore, said that aside from traditional distribution channels such as FairPrice, 7Eleven, ShengSiong, Giant, Ang Mo Supermarket, and Market Place, the e-commerce market in Singapore has enjoyed rapid growth in recent times.
He added that Vietnamese enterprises are able to gain access to e-commerce trading floors and introduce goods to the Singaporean market, therefore making greater inroads into other international markets at a far lower cost compared to traditional channels.
Echoing this point of view, Phillip Phung, director of the Indochina region at Vietcham Singapore, emphasised that the island nation has served as an effective bridge that continues to help promote the flow of Vietnamese exports to other large-scale markets moving forward.
Despite these benefits, local businesses have been advised to focus on improving product quality, ensure international standards are maintained, pay close attention to packaging, designs, and other certificates such as the hazard analysis and critical control points (HACCP) as a means of boosting market penetration.