Introduction to Overseas Expansion Services in Vietnam and Grant Support:
Trustpro provides overseas expansion services in Vietnam, leveraging the expertise of our trusted partner located in the capital city, Ho Chi Minh. Our comprehensive services are aimed at assisting companies in successfully entering the Vietnamese market and establishing a strong presence. You may also apply for MRA (Market Readiness Assistance) grant, to offset the costs of these expansion activities for eligible local Small and Medium-sized Enterprises (SMEs).
1. Overseas Business Development:
We understand the challenges of securing new business in a foreign country like Vietnam. Our team is dedicated to helping companies identify and connect with potential partners, including licensees, franchises, agents, distributors, joint venture partners, and cross-border logistics partners. By facilitating these vital partnerships, we aim to empower our clients to expand their market presence in Vietnam.
2. Overseas Marketing Presence:
A strong marketing presence is essential for successful market entry. Our services include grant administration to assist your employees in conducting effective marketing and business development activities in the target market, Vietnam. We ensure that your marketing efforts are aligned with local market preferences, enhancing the chances of success.
3. Market Entry Support:
The process of market entry involves various legal and regulatory requirements. To simplify this process for our clients, our partner in Vietnam covers advisory, legal, and documentation expenses related to intellectual property application, filing, and registration for sales/representative offices or equity entities, as well as obtaining import and export licenses. This support allows our clients to focus on their core business activities with confidence.
Benefits of Choosing Our Services:
Our partnership with a reliable and experienced company in Ho Chi Minh ensures that you receive expert guidance and local market knowledge throughout the expansion process. This partnership allows us to navigate the Vietnamese business landscape effectively and provide the best possible support to our clients.
From business development to market entry, our services cover a wide range of essential aspects involved in expanding into Vietnam. This holistic approach enables us to address various challenges and opportunities that may arise during the market entry process.
Expanding into a new market can be costly, especially if not done efficiently. Our services aim to provide cost-effective solutions by covering expenses related to legal matters, documentation, and intellectual property, allowing you to focus on establishing and growing your business in Vietnam.
Clear and transparent communication is essential when operating in a foreign market. Our Singapore office acts as a liaison between your company and our partner in Vietnam, ensuring that information flows seamlessly and efficiently, avoiding any potential misunderstandings.
Enterprise Singapore – MRA Grant:
Our fees for the overseas expansion services are supported by the Enterprise Singapore – MRA grant, which is specifically designed to assist local SMEs in expanding their businesses into new markets like Vietnam. The grant provides financial support by covering up to 50% of eligible costs, with a cap of S$100,000 per company for each new market entry. The eligible costs include:
Overseas Market Promotion: This segment of the grant is capped at S$20,000 and is designed to support promotional activities to create awareness and generate interest in the target market, Vietnam.
Overseas Business Development: Capped at S$50,000, this aspect of the grant is intended to facilitate business development activities and establish partnerships in Vietnam.
Overseas Market Set-up: To help cover expenses related to establishing a physical presence in the Vietnamese market, this part of the grant is capped at S$30,000.
Enhanced MRA Grant Cap Extension:
The good news for eligible SMEs is that the enhanced MRA grant cap of up to S$100,000 will be extended until 31 March 2025. This extension allows companies more time to take advantage of the increased grant support. To explore the possibilities of availing this grant for your overseas expansion into Vietnam, we encourage interested businesses to contact us early for a no-obligations free discussion on their requirements.
In conclusion, our overseas expansion services in Vietnam are designed to support businesses in successfully entering and establishing themselves in the Vietnamese market. Through our trusted partner in Ho Chi Minh, we offer comprehensive support for business development, market presence, and market entry processes. Moreover, eligible local SMEs can benefit from the Enterprise Singapore – MRA grant, which substantially reduces the financial burden of the expansion activities. The extended grant cap until March 2025 provides a great opportunity for SMEs to leverage this support and explore the potential of the Vietnamese market. We welcome interested companies to reach out to us for a free discussion to learn more about our services and grant support options.