Singapore Strengthens Singapore-Vietnam Business Ties with New Professional Services Centre in Ho Chi Minh City

The Alliance, a coalition of Singapore’s leading trade associations and professional bodies, has launched its second full-scale Professional Services (PS) Centre in Ho Chi Minh City (HCMC), marking a major step in deepening Singapore-Vietnam economic collaboration and expanding Singapore’s professional services footprint in Asia.

Building on the success of its first PS Centre in Shanghai earlier this year, the new HCMC hub will serve as a one-stop gateway for enterprises seeking to enter Vietnam’s dynamic economy, providing trusted professional services, regulatory guidance, market intelligence, and business networks to accelerate cross-border growth.

The Alliance is formed by eight trade associations and professional bodies, namely the Association of Small & Medium Enterprises (ASME), Institute of Singapore Chartered Accountants (ISCA), Institute of Valuers and Appraisers, Singapore (IVAS), the Singapore Business Federation (SBF), the Singapore Chinese Chamber of Commerce & Industry (SCCCI), Singapore Manufacturing Federation (SMF), Tax Academy of Singapore, and The Law Society of Singapore. Together, these eight partners have brought together strong business and professional service networks, creating a collaborative platform to facilitate regional expansion.

The HCMC launch follows the establishment of the first PS Centre in Shanghai in June 2025. Held at W Business Centre, the event was officiated in the presence of Mr Pang Te Cheng, Consul-General of the Republic of Singapore in HCMC, and brought together over 50 business leaders, professionals, and representatives from both Singapore and Vietnam.

ISCA President Mr Teo Ser Luck said, “Expanding into new markets comes with its challenges, from understanding local regulations to building trusted networks and gaining on-the-ground support. The PS Centre is designed to bridge that gap by connecting businesses to professional services expertise, local partners with deep market knowledge, and established business networks. Our goal is to give Singapore enterprises and our professionals access to a trusted platform, creating opportunities for collaboration, cross-border projects, and professional growth beyond our shores and thrive in Vietnam and the wider region.”

Vietnam has emerged as one of Singapore’s top investment destinations, with Singapore ranking as Vietnam’s largest foreign investor from January to November 2024, registering US$9.14 billion in capital according to Vietnam Briefing. Positioned as Vietnam’s commercial and financial hub, HCMC is a strategic gateway for Singapore and regional firms to tap into one of Southeast Asia’s fastest-growing markets.

Yet, businesses venturing into Vietnam often face challenges in navigating local regulations, building trusted networks, and obtaining on-the-ground support. The PS Centre @ HCMC is positioned to bridge these gaps - serving as a one-stop platform that provides professional services, market intelligence, and in-market connections to help firms expand confidently into Vietnam.

In addition, local partners such as the Vietnam Association of Accountants and Auditors (VAA), Vietnam Independent Directors Association (VNIDA) and other professional and business associations have come onboard to provide in-market insights and extend the network reach of the PS Centre in Vietnam.

“The launch of the Professional Services Centre in Ho Chi Minh City reflects Singapore’s strong commitment to deepening economic ties with Vietnam,” said Mr Pang Te Cheng, Consul-General of the Republic of Singapore in HCMC. “Serving as a one-stop hub, the Centre will provide trusted networks and professional expertise to support both inbound businesses entering Vietnam’s fast-growing economy and Vietnamese enterprises seeking to expand into regional and global markets. It embodies the spirit of "dám, biết, khéo"—daring to embrace new approaches, acquiring the knowledge to participate effectively, and demonstrating the skill to navigate complexity. These qualities, emphasized by General Secretary Tô Lâm as essential for Vietnam's new era, are precisely what this professional services partnership delivers. It will help to contribute to Vietnam’s diverse business landscape and strengthening cross-border collaboration.”

The PS Centre is built around three overarching focus areas:

1. A Conduit for International Expansion
Acting as a hub for firms, trade associations, and partners seeking to expand overseas. By connecting them to a curated network of region-specific experts and local partners, firms gain tailored guidance and services to navigate new markets confidently.

2. Business Enablement
The PS Centre provides business opportunities for ISCA Corporate Members and a wide community of professional services firms, including those in accounting, tax, legal, business valuation and corporate advisory. It offers an in-market presence, local expertise, and collaboration spaces for sustained engagement.

3. Fostering a Regional Ecosystem
Serving as a platform for cross-border knowledge sharing, strategic networking, thought leadership, and innovation - laying the groundwork for robust, long-term professional partnerships and a future-ready business community across Asia.

Mr Ang Yuit, President of ASME said, “Ho Chi Minh City is at the heart of Vietnam’s economic growth story. With the opening of the Professional Services Centre here, SMEs will now have a one-stop agency to approach for access to trusted local networks and in-market expertise. For ASME, this also builds on the spirit of our MOU with our Vietnam counterpart, VINASME, as we work together to support business growth through our ecosystem of alliances.”

Ms Lisa Sam, President of The Law Society of Singapore said, “The Law Society of Singapore is proud to be part of this Alliance initiative to strengthen professional services collaboration in Vietnam. Legal certainty and trusted advisory are essential for businesses venturing into new markets, and the Professional Services Centre in Ho Chi Minh City will provide the networks and expertise to help enterprises navigate cross-border opportunities with confidence. By working collectively with our Alliance partners and local associations, we are committed to supporting Singapore and regional firms in their expansion into Vietnam and beyond.”

Mr Dennis Lui, CEO of Tax Academy of Singapore said, “The PS Centre launch in Ho Chi Minh City marks a pivotal moment in regional collaboration. At Tax Academy, we're building Singapore as a leading centre for taxation and regional tax knowledge hub through our structured tax training and professional development programmes to raise professional competency of the tax community. Vietnam represents one of Asia's most dynamic growth markets. Cross-border expansion demands more than strategy—it requires specialised, on-the-ground tax expertise. We're excited to empower businesses with the essential tax knowledge and practical insights needed to not only navigate but thrive in this exciting new chapter of regional expansion.”

“Singapore businesses venturing into Vietnam now have a centre that brings together networks, insights, and local know-how under one roof,” said Mr Ernie Koh, Council Member of the Singapore Business Federation (SBF). “Through our Global Connect initiative, we have seen first-hand how the right partnerships can accelerate cross-border success. The new PS Centre in Ho Chi Minh City strengthens these networks and lowers barriers for businesses of all sizes, enabling them to seize opportunities in Vietnam’s dynamic economy while contributing to the broader ASEAN growth story.”

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For more information, please contact:
Amanda Lim
Assistant Manager, Communications
Tel:9738 7299
Email: amanda.lim@isca.org.sg

 
About the Professional Services (PS) Centre

The Professional Services (PS) Centre is a collaborative initiative by eight trade associations and professional membership bodies: the Association of Small & Medium Enterprises (ASME), the Institute of Singapore Chartered Accountants (ISCA), the Institute of Valuers and Appraisers, Singapore (IVAS), the Singapore Business Federation (SBF), the Singapore Chinese Chamber of Commerce & Industry (SCCCI), the Singapore Manufacturing Federation (SMF), Tax Academy and The Law Society of Singapore.

Together, the Alliance represents a network spanning over 30 industries, from manufacturing, electronics, energy and life sciences to finance, technology, F&B, logistics, legal, tax, accountancy and valuation, bringing over 50,000 professionals and businesses under one collaborative ecosystem for cross-border growth.

For more information, visit https://pscentre.com.sg/.