Singapore has taken a significant step in strengthening its economic collaboration with Vietnam by launching a new Professional Services (PS) Centre in Ho Chi Minh City. The centre, established by the Alliance—a coalition of Singapore’s leading trade associations and professional bodies—serves as a one-stop gateway for enterprises aiming to enter Vietnam’s dynamic economy. It offers professional services, regulatory guidance, market intelligence, and business networks to facilitate cross-border growth.
The Alliance, comprising eight trade associations and professional bodies, including the Institute of Singapore Chartered Accountants (ISCA) and the Singapore Business Federation, aims to create a collaborative platform for regional expansion. The launch follows the successful establishment of the first PS Centre in Shanghai earlier this year.
The Ho Chi Minh City hub is strategically positioned to assist businesses in navigating local regulations and building trusted networks. ISCA President Teo Ser Luck highlighted the centre’s role in bridging gaps for Singapore enterprises by providing access to professional services expertise and local partners with deep market knowledge.
Vietnam has become one of Singapore’s top investment destinations, with Singapore ranking as Vietnam’s largest foreign investor from January to November 2024. The PS Centre aims to support both inbound businesses entering Vietnam and Vietnamese enterprises seeking regional and global expansion.
The centre focuses on three key areas: facilitating international expansion, enabling business opportunities for professional services firms, and fostering a regional ecosystem for knowledge sharing and strategic networking. This initiative is expected to contribute significantly to Vietnam’s business landscape and strengthen cross-border collaboration.
