On August 1, the Vietnam-Singapore Sustainable Trade and Innovation Forum (STIF 2025) opened at the Singapore Manufacturing Federation (SMF) Office. The event was organized by the Trade Office of the Embassy of Vietnam in Singapore in coordination with the Ho Chi Minh City Business Association (HUBA) and other organizations.
According to Mr. Tran Phuoc Anh, Ambassador of Vietnam to Singapore, the digital economy and green economy are becoming the focus of international cooperation, especially in the ASEAN region. The launch of the e-commerce platform Vietnamsgp.arobid.com on the occasion of the 52nd anniversary of the establishment of diplomatic relations between Vietnam and Singapore is even more significant. This will be a tool to help businesses of the two countries accelerate trade, take advantage of digital transformation opportunities, and participate deeply in the global supply chain.
"In the areas of cooperation with Singapore, Vietnam always prioritizes science and technology, innovation, digital transformation, e-commerce development, blockchain and artificial intelligence. These are also the pillars in the "quadruple resolutions" including: Resolution No. 57 on innovation; Resolution No. 59 on international integration; Resolution No. 66 on law making; Resolution No. 68 on private economic development," Mr. Tran Phuoc Anh added.
According to Mr. Tran Phuoc Anh, the launch of the digital platform not only contributes to the concretization of these resolutions but also demonstrates the determination of the two countries in creating a transparent, sustainable and modern trade ecosystem. In the coming time, the Vietnamese Embassy in Singapore is committed to accompanying businesses of both sides, supporting innovation initiatives, thereby contributing to the green transformation and digitalization of the economy.
Meanwhile, Mr. Nguyen Ngoc Hoa, Chairman of HUBA, representing the business community of Ho Chi Minh City, said that Ho Chi Minh City currently contributes more than 22% of GDP and nearly 17% of the country's export turnover, and is aiming to become a financial - technological - innovation center of the region. The three pillars identified by the City are digital transformation, green transformation and deep integration into the global value chain."
However, according to Mr. Ngoc Hoa, Vietnamese enterprises are facing many challenges in the restructuring process to adapt to international standards, especially regulations related to the carbon border adjustment mechanism (CBAM) and environmental, social, and governance (ESG). Therefore, the application of modern technology platforms such as AI and Big Data through the bilateral e-commerce platform will help Vietnamese and Singaporean enterprises accelerate connections, reduce transaction costs, and access target markets in a more transparent and effective manner.
On behalf of Singapore, Mr. Lennon Tan, Chairman of the Singapore Manufacturing Federation (SMF), said that SMF brings together manufacturing enterprises from 10 key industries and is considering Vietnam as an attractive destination in its strategy to expand its supply chain and investment. Many Singaporean enterprises choose Vietnam not only for production but also to connect with the ASEAN market and beyond.
In addition, Singapore possesses an optimal logistics system, especially cold chain and cross-border e-commerce, which is essential for Vietnam in the context of increasingly stringent requirements on goods origin, emission standards and sustainable logistics.
“Digital transformation is no longer an option but a vital requirement for Vietnamese businesses to fully integrate. Platforms like Vietnamsgp.arobid.com are digital bridges that promote smart trade and sustainable development between the two countries,” added Mr. Nguyen Ngoc Hoa.
For Vietnamese enterprises, Mr. Cao Xuan Thang, Trade Counselor, Head of the Vietnam Trade Office in Singapore, said that Singapore is a strategic trade center with an annual import turnover of up to 400 - 500 billion SGD. Of which, about 60% is re-exported to third countries. However, Vietnam's exports only reach 8 - 9 billion SGD/year, showing that the potential is still very large.
In addition to industrial products such as electronic components and machinery, Singapore has a great demand for agricultural products and food. Vietnamese rice is highly appreciated for its quality but is mainly sold under the brand of Singaporean importers. Similarly, Vietnamese seafood is suitable for diverse tastes in Singapore, but to expand market share, businesses need to focus on packaging, labeling, transparent information and especially Halal certification to serve Muslim consumers.
To take advantage of the opportunity, Mr. Cao Xuan Thang suggested that Vietnamese enterprises should change the way they promote trade, actively participate in international fairs and exhibitions in Singapore; proactively connect with the Vietnam Trade Office; participate in the B2B Matching program to access the global purchasing ecosystem. If Vietnamese enterprises prepare carefully and go in the right direction, Vietnamese goods can completely dominate the Singapore market and expand to the region.
Source: https://doanhnghiepvn.vn/doanh-nhan/day-manh-giao-thuong-giua-doanh-nghiep-viet-nam-va-singapore/20250802062732873
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