There is still a lot of room for exporting goods to Singapore.

There is still a lot of room for Vietnamese goods to be exported to Singapore. Therefore, it is necessary to support businesses in connecting trade and boosting exports.

Ho Chi Minh City's goods exports to Singapore reached 563 million USD

In order to support Vietnamese enterprises in updating market information, grasping import-export opportunities, finding partners and expanding new business cooperation channels, on the afternoon of March 13, the Ho Chi Minh City Investment and Trade Promotion Center (ITPC) in collaboration with the Vietnam Trade Office in Singapore and the Singapore Business Association in Vietnam organized the "Export Promotion Workshop to the Singapore Market".

Delegates attending the workshop.

Economic, trade and investment cooperation has always been a bright spot in the Vietnam-Singapore relationship. Economic and trade relations between the two countries have been maintained and developed remarkably. In 2024, the total import-export turnover between Vietnam and Singapore reached 10.53 billion USD. Singapore is currently Vietnam's fourth largest trading partner in ASEAN after Thailand, Indonesia and Malaysia.

Sharing at the event, Ms. Ho Thi Quyen - Deputy Director of the Ho Chi Minh City Investment and Trade Promotion Center (ITPC) - said: In 2024, the total import-export turnover of Ho Chi Minh City enterprises through border gates nationwide will reach 78.83 billion USD. Particularly, the total export turnover of Ho Chi Minh City to the Singapore market in 2024 will reach 563 million USD, an increase of more than 6% compared to 2023.

Ms. Ho Thi Quyen - Deputy Director of Ho Chi Minh City Investment and Trade Promotion Center (ITPC).

The investment sector also recorded positive results. Accordingly, in 2024, Ho Chi Minh City had more than 4,000 newly licensed projects, capital increase projects, capital contribution projects, and share purchase projects with a total investment capital of more than 3.041 billion USD with more than 120 countries and territories investing in Ho Chi Minh City.

Of which, Singapore is the leading country in total investment capital in Ho Chi Minh City with 1.094 billion USD for 179 newly licensed projects, 46 adjusted projects and 241 capital contributions and share purchases. Up to now, Ho Chi Minh City is the locality with the most Singaporean investment projects in the country with 2,023 projects with a total registered investment capital of more than 15.318 billion USD.

Emphasizing its role as an important trade and investment promotion bridge between Ho Chi Minh City enterprises and the international market, ITPC always proactively coordinates closely with relevant agencies and organizations to implement a variety of trade and investment promotion activities, with a special focus on the Singapore market.

“This workshop focuses on creating trade connections in potential industries such as food, seafood, supporting industries, and at the same time introducing to the business community the program “ Space to introduce typical products of Ho Chi Minh City enterprises” at the FHA Food and Beverage Exhibition (FHA - FOOD & BAVERAGE 2025) taking place in Singapore”, the Deputy Director of ITPC informed.

There is still a lot of room for Vietnamese exports to the Singapore market.

Providing information about the Singapore market at the workshop, Mr. Cao Xuan Thang - Commercial Counselor, Head of the Vietnam Trade Office in Singapore said: Singapore is a transit market, a trade hub of the region and the world, with great potential for Vietnamese products.

Mr. Cao Xuan Thang - Commercial Counselor, Head of Vietnam Trade Office in Singapore, informed about the Singapore market at the workshop.

At the same time, it is an international service center, a gateway for Vietnamese products to reach buyers of retail corporations... importers of other countries, especially agricultural products, frozen and processed seafood.

Vietnam's main export items to Singapore include: Machinery, equipment, mobile phones, components and spare parts of all kinds, garments, rice and cereals, vegetables and fruits, food and processed products, seafood, rice... " In particular, Singapore imports over 90% of food.

Emphasizing that in order to maintain growth momentum and support businesses to boost exports, the Vietnam Trade Office in Singapore will continue to update the situation of mechanisms and policies. At the same time, it will support Vietnamese businesses to connect with trade, promote products, and export goods to the Singapore market; as well as support business delegations from Singapore to Vietnam to seek sources of goods, promote industrial, trade and service investment.

According to Mr. Cao Xuan Thang, there is still a lot of room for exporting food products from Vietnam to the Singapore market. Therefore, it is necessary to increase activities to support businesses in connecting trade and boosting exports to this market.

Singapore imports over 90% of food, so there is still a lot of room for Vietnam to export this industry to the Singapore market (illustrative photo).

Regarding export products to the Singapore market, the Vietnamese Trade Counselor in Singapore noted to businesses: Before exporting food products to Singapore, businesses need to determine the list of foods: meat, fish, fresh vegetables, fresh eggs, processed eggs, processed foods, food processing tools, functional foods, etc.

At the same time, apply for a license and register with SFA; comply with relevant food regulations: Fish and Meat Law, Food Sales Law, etc.; comply with regulations on packaging and labeling; comply with SFA's conditions for certain specific foods. In addition, businesses need to apply for an import license; schedule a quality inspection for import...

Specifically, for rice, although the quality of Vietnamese rice is highly appreciated, the Singaporean Government strictly manages rice products and diversifies supply sources to ensure food security.

As for seafood: The quality of Vietnamese seafood is highly appreciated and is increasingly popular. Seafood can be used by all ethnic groups, and if it has Halal certification, it will be an advantage.

“If vegetables and fruits have been pre-processed such as cut, peeled, canned or frozen, they will be considered processed food and will have to comply with regulations on the quality of processed food products,” the Vietnam Trade Office in Singapore noted.

Mr. Wesley Chua, Honorary Treasurer, Singapore Business Association in Vietnam, introduced connection activities to promote exports between Vietnamese and Singaporean enterprises at the workshop.

For packaging, industrial products must have packaging that is suitable for the nature of the product, ensuring safe transportation and maintaining product quality; at least there must be an English label or an English sub-label. For products provided to target customer groups, there should be additional ethnic languages ​​(Tamil, Malay, etc.)

Exporting enterprises also need to pay attention to standards and certifications: Products must meet all general standards according to international practices on quality, quality management systems, etc. and specific requirements according to the characteristics of each product.

For sending samples to participate in fairs, exhibitions, sending samples for sale: For products that are being sold domestically, not yet exported, usually only in Vietnamese, it is recommended to add an additional label in English...

“In general, Singapore is a demanding market, with strict quality requirements and very competitive prices. Imported food product batches will be sampled and quality controlled before being circulated,” the Vietnam Trade Office in Singapore assessed.

Talking to reporters of Cong Thuong Newspaper, Mr. Nguyen Quoc Phong - International Business Director of Tonasia Food and Beverage Company Limited - said: Tonasia is an enterprise that produces instant pho, currently the enterprise aims to export to demanding markets such as: Japan, America, Europe...

With such policies, businesses are also interested in high-income markets in the region such as Singapore. This is a market with a small population, but is a commercial hub close to the markets of Malaysia and Indonesia.

Therefore, Singapore is one of the markets where the company will organize trade promotion programs. It is expected that Tonasia will export key products such as instant pho and dried pho to the market. In addition, it can combine exporting fresh fruits such as fresh grapefruit and fresh coconut.

“At the workshop, the Commercial Counselor in Singapore shared practical information about the Singapore market. This is a market with strong demand for Vietnamese products such as food, fresh fruit, seafood, etc., so it is very suitable for businesses to enter the Singapore market. At the same time, it is also very suitable for going from Singapore to other markets in the region and Vietnamese businesses can open representative offices in Singapore, from there bringing products to the world,” Mr. Nguyen Quoc Phong shared.

ITPC hopes that through today's seminar, Vietnamese enterprises will be updated with the latest information on market information, trade, and import-export potential in the Singapore market. At the same time, they will find many potential partners and new business and import-export cooperation opportunities between the two sides. Through this, they will contribute to further promoting the partnership between Vietnam and Singapore in general as well as the good cooperative relationship between Singapore and Ho Chi Minh City in particular.

Source: https://congthuong.vn/du-dia-xuat-khau-hang-hoa-sang-singapore-con-rat-lon-378153.html