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

Published

3 months ago

15/09/2025

SINGAPORE – Media OutReach Newswire – 15 September 2025 – 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.”

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/.
Hashtag: #ISCA #Accountancy #DifferenceMakers #PSCentre #Alliance

The issuer is solely responsible for the content of this announcement.

Institute of Singapore Chartered Accountants

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore with over 40,000 ISCA members making their stride in businesses across industries in Singapore and around the world. ISCA members can be found in over 40 countries and members based out of Singapore are supported through 12 overseas chapters in 10 countries.

Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession.

ISCA administers the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation.

ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8
million Chartered Accountants and students in more than 190 countries.

For more information, visit www.isca.org.sg.

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Payment Options Singapore Secures In-Principle Approval from MAS for Major Payment Institution Licence

Published

14 hours ago

08/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 8 December 2025 – Payment Options Pte Ltd, a Singapore-based payment solutions provider, is pleased to announce that it has received In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) licence under the Payment Services Act 2019.

Payment Options Pte Ltd office in Singapore

This milestone underscores Payment Options’ commitment to supporting Singapore’s small and medium-sized enterprises (SMEs) with simple, secure, and accessible digital payment solutions.

If granted the licence, Payment Options Pte Ltd will be authorised to provide three regulated payment services: Merchant Acquisition, Domestic Money Transfer, and Cross-Border Money Transfer. Through these services, the company aims to empower SMEs with a full suite of payment capabilities — from online payment gateways and QR code payments to the upcoming SoftPOS payments technology — enabling merchants to accept digital payments easily and securely.

“We remain deeply committed to supporting Singapore’s SMEs as they grow and compete in an increasingly digital-first economy. Our vision is to position digital payments as a growth enabler — not a challenge — for small businesses”, said Aaron Yip, Director of Payment Options Pte Ltd. “Our goal is to make digital transactions seamless, secure, and accessible for every business, regardless of size.”

Building on this vision, if the licence is granted, Payment Options will continue to work closely with local merchants, financial institutions, and technology partners to enhance payment accessibility and drive innovation across Singapore’s SME ecosystem.

“We reaffirm our commitment to regulatory compliance and innovation, as we contribute to Singapore’s ongoing journey toward a secure, inclusive, and cash-lite economy.”

The IPA granted by the MAS indicates that a licence may be issued upon the fulfilment of specified conditions and provided there are no material adverse developments affecting the applicant. The IPA does not constitute a licence to provide payment services at this stage, and MAS reserves the right to rescind the approval if it deems appropriate.
Hashtag: #PaymentOptions

https://www.paymentoptions.com/
https://www.linkedin.com/company/payment-options/
https://www.facebook.com/PaymentOptions.int/
https://www.instagram.com/payment.options/

The issuer is solely responsible for the content of this announcement.

About Payment Options Pte Ltd

Payment Options Pte Ltd is a Singapore-based financial technology company providing innovative and secure payment solutions designed to help SMEs and merchants simplify digital transactions. With a focus on compliance, technology, and customer experience, the company aims to make digital payments accessible for every business.

Media OutReach

Financial Assistance at SIM: Breaking Barriers to Education

Published

15 hours ago

08/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 8 December 2025 – For many aspiring learners, financial constraints remain one of the biggest obstacles to achieving their goals. SIM is determined to change that. Guided by the principle that no student should be left behind because of cost, SIM has built a comprehensive ecosystem of financial aid, scholarships, and bursaries to make quality education attainable for all.

At the heart of this mission is the SIM Impact Fund, a S$60 million initiative dedicated to empowering students from diverse backgrounds and ensuring that financial hardship never stands in the way of academic or personal growth. By blending need-based assistance with merit-driven opportunities, SIM is creating an inclusive learning environment where talent and ambition define success.

Empowering Learners Through the SIM Impact Fund

In 2024, SIM introduced the SIM Impact Fund, a S$60 million initiative dedicated to supporting students from lower-income households and ensuring that financial constraints do not hinder educational aspirations. Administered through SIM Trust, the fund is designed to empower learners within and beyond SIM’s community by removing barriers to access. Beginning in 2025, Singapore Citizens and Permanent Residents with a per-capita income of S$1,750 or below can benefit from tiered assistance, ranging from S$6,000 up to S$13,500 for those with PCI of S$600 or less, S$4,500 to S$6,750 for PCI between S$601 and S$1,000, and S$2,000 for PCI between S$1,001 and S$1,750. Beyond tuition aid, the fund also provides support for overseas internships and merit-based scholarships, benefiting approximately 500 students annually.

Beyond Tuition: Comprehensive Financial Aid

SIM’s commitment to learning accessibility goes far beyond tuition subsidies. Through its Financial Assistance schemes, students can tap into a range of support options tailored to different needs. These include Enhanced Bursaries Aid, which provide up to S$13,500 per year for Singapore Citizens, and a SIM GE Crisis Fund offering emergency relief of up to S$5,000 for unforeseen circumstances. In addition, SIM encourages global exposure through Study Abroad Awards, enabling students to broaden their horizons without financial strain. Together, these initiatives reflect SIM’s ethos of inclusivity and resilience, ensuring that financial challenges never derail academic aspirations.

Community-Focused Support

The Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) exemplifies SIM’s deep-rooted commitment to community empowerment and social impact. Launched in July 2024 in partnership with the late Dr Eu’s family,

RESSEC received a combined S$8 million donation, S$6 million from the Eu family and S$2 million from SIM, marking a significant investment in nurturing social entrepreneurship. Guided by Dr Eu’s vision of transforming social service through ethical leadership and innovation, the Centre equips learners and social service professionals via initiatives such as a specialised postgraduate Diploma in Social Entrepreneurship, mentorship, and collaborative dialogues.

RESSEC also provides 12 bursaries of S$10,000 each for SIM Global Education students (check that this is accurate and that it’s not also extended to those outside the SIM ecosystem) who demonstrate strong community service and leadership and those with per-capita income up to S$1,750, prioritising those with per-capita income less than S$1,000. Through this initiative, SIM embeds purpose-driven learning into its mission, empowering students to create sustainable, positive impact in Singapore and beyond

Scholarship for Excellence

SIM offers a diverse range of scholarships under SIM Global Education to recognize excellence and resilience among its students. These include the SIM STARRR Award, which provides up to S$36,000 to outstanding achievers who demonstrate academic distinction and leadership qualities, and the Sports & Arts Talent Award, also valued at S$15,000 for students who excel in athletic or artistic pursuits. Additionally, the Chairman’s Award for Resilience grants S$3,000 to students who successfully balance work and study commitments, showcasing perseverance in the face of challenges. Together, these scholarships complement SIM’s need-based financial aid, creating a holistic support system that rewards merit while ensuring inclusivity.

Conclusion: Building a Future Without Barriers

SIM’s financial assistance framework is more than a set of policies, it is a promise to the community. By investing in initiatives like the SIM Impact Fund and expanding bursaries and scholarships, SIM is actively dismantling the barriers that prevent talented individuals from reaching their potential. This approach does not just benefit students, it strengthens society by cultivating a diverse pool of graduates equipped to lead, innovate, and give back. In a world where education often comes with a hefty price tag, SIM stands out as a beacon of accessibility and empowerment. For students and families seeking assurance that quality education is within reach, SIM offers not just hope but a clear, actionable path forward.

References:

Bursaries & Financial Aid (Enhanced) – https://www.sim.edu.sg/degrees-diplomas/admissions/bursaries-and-financial-aids
Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/ressec
The Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) Opens to Advance Singapore’s Social Sector – https://www.sim.edu.sg/news-events/the-dr-richard-k-m-eu-sim-social-entrepreneurship-centre-%28ressec%29-opens
SIM Scholarship – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships
SIM’s STARRR Award – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-starrr-award-for-new-undergraduate-students
SIM Award and Sports & Artistic Award – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-global-education-scholarship
SIM Global Education Diploma Scholarships – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-global-education-diploma-scholarships
Chairman’s Award for Resilience – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/chairman-s-award-for-resilience

Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills

The issuer is solely responsible for the content of this announcement.

About SIM Global Education

SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.

SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.

For more information on SIM Global Education, visit sim.edu.sg

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Beyond Academic Excellence: SIM Scholarships Champion Leadership, Resilience, and Talent

Published

1 day ago

07/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 7 December 2025 – The Singapore Institute of Management (SIM) is proud to reaffirm its commitment to developing future-ready graduates through a comprehensive scholarship framework that goes beyond academic achievement. These scholarships are designed to recognize and nurture qualities such as leadership, resilience, and talent. These attributes are essential for success in today’s dynamic global environment.

For decades, scholarships have been synonymous with academic excellence. SIM is redefining this narrative by adopting a holistic approach that values character, contribution, and courage alongside academic performance. This initiative reflects SIM’s mission to prepare graduates who are adaptable, innovative, and socially responsible.

Scholarships That Go Beyond Academics

SIM’s scholarship ecosystem reflects its belief that success is multidimensional. Rather than focusing solely on grades, these awards celebrate qualities such as resilience, leadership, and talent. The SIM STARRR Award, for instance, supports freshmen who embody Resilience, Resourcefulness, and Responsibility, offering up to S$36,000 in tuition fees, along with living and exchange allowances, without any bond requirement.

For students who shine in sports or the arts, the SIM Award & Sports/Artistic Talent Award provides S$15,000, disbursed in two tranches, to help them balance academic and extracurricular excellence.

International students pursuing diploma programmes can benefit from the Diploma Scholarships, which cover up to 100% of course fees for academic excellence or 50% for merit-based achievements.

For working adults who have overcome significant challenges, the SIM Chairman’s Award for Resilience offers S$3,000, recognizing perseverance and determination in the face of adversity.

Stories That Inspire

SIM’s scholarships are more than financial aid. They are catalysts for transformation, opening doors for students to turn challenges into triumphs. Take Ernita Tanudjaja, an international student who refused to let pandemic disruptions derail her ambitions. Instead, she leveraged technology to livestream events and boost engagement, showcasing resilience and resourcefulness.

Similarly, Chow Kah Ying, an ICU nurse, managed the intense demands of frontline healthcare during COVID-19 while completing her degree, showcasing perseverance and purpose. Likewise, Michelle Seah transformed O-level failure into triumph, excelling in javelin and academics to earn the SIM Sports & Artistic Talent Award, proof that determination and discipline can rewrite any story.

These journeys reflect SIM’s unwavering belief that leadership and resilience matter as much as grades, and that true achievement lies in character and contribution as much as in academic performance.

The Broader Vision

SIM’s scholarships represent more than financial assistance. They serve as a strategic platform for transformation and growth. Recipients benefit from networking opportunities that connect them with alumni and industry leaders, fostering mentorship and career development. Many scholarships also provide international exposure through exchange programmes that broaden perspectives and enhance global competencies.

In addition to academic achievement, students cultivate essential life skills such as leadership, resilience and adaptability through experiential learning and community engagement. These qualities equip graduates to excel in uncertain environments and contribute meaningfully to society.

This commitment reflects SIM’s core belief that education is not limited to examinations. It is about shaping leaders who create impact and drive positive change in a rapidly evolving world.

References: