Coworking space firm signs strategic deal to draw Singapore investment to Vietnam

By Staff reporters   August 24, 2017 | 10:00 am GMT+7
Coworking space firm signs strategic deal to draw Singapore investment to Vietnam
Representatives from Vietnam's coworking space operator Toong and the International Enterprise Singapore sign a strategic partnership.

The partnership promotes cooperation in providing easy and quick market access in Vietnam to Singapore companies.

Toong, a major Vietnam’s coworking space operator, announced a new strategic partnership with International Enterprise Singapore (IE), a government trade promotion agency, on Thursday to make it easier for Singaporean companies to set up business in Vietnam.

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, vast market network, support and training resources to facilitate growth and expansion in Vietnam.

This is in line with IE Singapore’s role in partnering Singapore companies to expand and invest overseas. It is also part of IE Singapore’s Plug and Play Network across China, India and South East Asia, aiming to ease market entry for small and medium enterprises in more than 45 major cities in six key markets.

Singapore companies have shown increased interest in Vietnam over the years. The country is the third largest foreign investor in Vietnam and its top investor among ASEAN countries.

Toong, the first large-scale professional coworking space chain in Vietnam, with a network covering Hanoi, Ho Chi Minh City and Da Nang, provides innovative working environment service for small and medium sized enterprises (SMEs) and established enterprises of multiple industries across the country.

The company 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 gateway for Singapore enterprises looking for means to expand into Vietnam," said Phu Nguyen, Chief Strategy Officer of Toong. "Specifically, Toong will provide office solutions for Singapore companies and offer specific assistance on potential business connections, and advise them on company registration process as well local business landscape understanding.’’

 
 
go to top