At the seminar in HCM City (Photo: VNA) HCM City (VNA) – Valuableinformation to enhance exports to Singapore was shared among experts andbusinesses at a seminar held by the Ho Chi Minh City Investment and Trade PromotionCentre (ITPC) in the southern hub on June 25.
ITPC Director Pham Thiet Hoa said that besides a potential market forVietnamese farm produce and processed food, Singapore is an internationalservice hub, and a gateway for made-in-Vietnam products to be known amongworld’s leading retail giants, hotels and restaurants as well as foreignimporters.
Vietnam is currently among the top 15 trade partners of the neighbouringcountry, with a total export revenue to the market reaching 3.46 billion USD in2018.
As many Singaporean businesses are seeking to purchase food, garment andtextiles and wood furniture for domestic distribution and re-export to othermarkets, Vietnamese firms boast huge opportunities to develop its exportmarkets in the coming time, he stressed.
Meanwhile, Leon Cai, who is in charge of commercial affairs at the SingaporeanGeneral Consulate in Ho Chi Minh City, said Vietnamese businesses can enhancestrategic cooperation with Singaporean partners to nudge their products closerto the world, explaining that Singapore is one of the largest consumptionmarkets across the five continents.
Participants also pointed out food safety and hygiene as a major barrier forVietnamese firms while selling products to the Singaporean market. Many potentialgoods failed to enter the market as they are not qualified in terms ofpackaging and instruction for use.
Besides giving out detailed updates of Singapore’s policies and market, participantsalso shared experience in promoting the efficiency of value chain to reducelogistic costs.
Support packages for exporters were tabled at the event as well.-VNA
VNA
