Lately, Singapore companies have shown increased interest in Vietnam
Toong, Vietnam’s first and largest co-working space, inked a new strategic partnership with the Singaporean governmental entity International Enterprise Singapore (IE) on August 21.
Under the partnership, Toong will help bring Singapore-based companies to Vietnam through its network of co-working spaces and supporting the ecosystem.
The agreement is part of IE Singapore’s Plug and Play Network across China, India and Southeast Asia, aiming to ease market entry for SMEs in over 45 major cities in six key markets.
Lately, Singapore companies have shown increased interest in Vietnam. Singapore is the third largest foreign investor in Vietnam and its top investor among ASEAN countries.
The partnership promotes cooperation in providing easy and quick market access in Vietnam to Singapore companies, with Toong providing the necessary ecosystem and resources including co-location working spaces, a vast network, and support and training resources to facilitate growth and expansion of the companies in Vietnam.
Toong will provide business consultation, legal, financial and other advisory services, and facilitate introductions and business matching meetings with local partners. Both Toong and IE Singapore will also organize relevant events and training to share Vietnam’s business landscapes and opportunities with Singapore companies.
“This partnership essentially cements Toong as one of the gateways for Singapore enterprises looking for means to expand into Vietnam. Specifically, Toong will provide office solutions for Singapore companies and offer specific assistance on potential business connections, and advise them on the company registration process as well a local business landscape understanding,” said Phu Nguyen, Chief Strategy Officer of Toong.