Ascendas-IE Singapore consortium to expand opportunities in Vietnam

Enables Ascendas to introduce potential suppliers to clients while allowing SMEs to tap Ascendas’ Vietnam network.

Asia’s leading business space solutions provider, Ascendas, and International Enterprise (IE) Singapore have jointly launched the Singapore Manufacturing Suppliers Consortium (SMSC) with support from SPRING Singapore. The consortium is established under IE Singapore’s iPartners Programme, which aims to encourage Singapore companies to work together for greater success in internationalisation, according to a SPRING Singapore report.

The new Ascendas-led consortium aims to achieve two objectives. First, it will enable Ascendas, the anchor company, to introduce a pool of potential suppliers to its clients at its parks in Asia. At the same time, it allows small and medium enterprises (SME) or alliance members to tap on the established network of Ascendas’ business contacts in the Vietnam market.

In July this year, Ascendas led five alliance members comprising SME companies from the precision engineering, automation and pharmaceutical sectors to Binh Duong and Ho Chi Minh City in Vietnam. During the trip, the alliance members were introduced to Ascendas’ clients and given opportunities to explore partnerships with them.

Ms Chong Siak Ching, Ascendas’ President and CEO, said, “Ascendas is pleased to be part of the iPartners Programme, where we can leverage on our experience and knowledge to help companies harness the growth potential of this emerging market. Beyond Vietnam, we will extend similar value-adding partnership to our customers across Asia.”

Mr SL Lum, Chairman and CEO of Viquest Group of Companies, who participated in the marketing trip commented, “It is difficult for a small company like us to expand our business overseas due to many constraints and limited resources. The mission trip and the contacts introduced by Ascendas have paved the way for us to explore business opportunities in Vietnam.”

Mr Simon Lim, Director Manufacturing and Engineering, SPRING Singapore said, "The consortium provides a platform for SMEs to tap on a wide range of regional business opportunities. Many SMEs have developed strong capabilities to serve the region well. We will continue to work with IE Singapore to facilitate such growth."

Aiming to benefit at least 200 Singapore-based SMEs, IE Singapore hopes to facilitate more of such consortiums in the coming months. Said Mr Tham Poh Cheong, IE Singapore’s Group Director for Infrastructure, Environment and Engineering Services, “Through partnerships such as the Ascendas-led consortium, we hope to open the door for more SMEs to fast track their market entry into key markets such as Vietnam by tapping on the experience and network of other Singapore companies. In addition, by working closely with SPRING, we are able to widen our outreach to more potential Singapore SMEs that are ready to internationalise.”