- Vietnam–Singapore B2B platform launched to boost digital trade and green transition.
- The platform uses AI, big data, and 3D virtual exhibitions to connect businesses.
- Aim to enhance bilateral trade to $30 billion by 2028 through digital innovation.
The Vietnam – Singapore Sustainable Trade and Innovation Forum (STIF Vietnam - Singapore) occurred on August 1 at the Singapore Manufacturing Federation (SMF) headquarters, signifying a new phase in the digital economy and green transition for both nations.
The event was jointly organized by the Vietnam Trade Office in Singapore, HUBA, SMF, Arobid, and Ecohub, featuring the launch of the inaugural Vietnam–Singapore B2B (business-to-business) e-commerce platform at Vietnamsgp.arobid.com.
Created by Arobid and Ecohub, the platform combines AI, big data, 3D virtual exhibitions, and market behavior analysis to facilitate connections, contract signing, and digital product showcasing for businesses in both nations.
Vietnamese Ambassador to Singapore Tran Phuoc Anh highlighted that in the current global economy, connecting regional trade is essential, not optional. He presented Vietnam's innovative development vision, rooted in four primary national resolutions.
According to the diplomat, the newly-launched platform enables Vietnamese and Singaporean companies to simplify cross-border transactions, utilize intelligent data, and encourage trade that is more efficient, intelligent, sustainable, and fair. He emphasized the embassy's dedication to aiding these initiatives and enhancing connections between governments, businesses, innovators, and investors.
Speaking at the forum, SMF Chairman Lennon Tan noted that the Vietnamese and Singaporean economies complement each other. He mentioned that the B2B e-commerce platform provides numerous benefits, such as open trade and workforce access, multi-currency transactions, intelligent connectivity, streamlined logistics, and conflict prevention.
He emphasized that the ASEAN Digital Economy Framework Agreement (DEFA), with discussions anticipated to finish in 2025, will facilitate smooth data transfers, payment systems, and digital services, and that the Vietnam–Singapore B2B platform is closely aligned with this goal.
Delegates exchanged views on Vietnam–Singapore trade opportunities in light of global and regional uncertainties, the green transition, and digital transformation.
Vietnamese Trade Counselor in Singapore Cao Xuan Thang recommended that Vietnamese companies be mindful of cultural aspects, local laws, and gain a deep understanding of their Singaporean counterparts, particularly when pursuing significant agreements, which must be meticulously evaluated with professional guidance.
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Lennon Tan highlighted the government’s responsibility in facilitating the green transition by assisting companies in evaluating and certifying their environmentally friendly practices, laying the groundwork for gradually enhancing their green credentials. He noted that governments can further encourage this transition by offering priority to environmentally-friendly businesses in public procurement activities.
Ambassador Anh described the launch of the initial platform as a strategic move, expressing his hope that this initiative will enhance bilateral trade to 30 billion USD by 2028, broaden market access for Vietnamese goods through Singapore, and raise the international profile of Vietnamese exporters.
Phung Thi Ai Van, the creator of Ecohub.arobid.com, mentioned that Singapore was selected for the platform's launch since it serves as a prominent "green hub" in the area and a bridge to international markets. The platform will both enable trade and help Singaporean companies assist Vietnamese businesses in their green transition by providing access to essential services from Singaporean collaborators.
During the event, Arobid Technology JSC and High West Capital Partners signed a Memorandum of Understanding to establish a financial package that will aid Vietnamese companies in exporting smart products to the US. Arobid additionally signed a partnership agreement with CRIF D&B Vietnam to assist companies in their green transition and obtaining global ESG (Environmental, Social, and Governance) certification.