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Singapore Strengthens Singapore-Vietnam Business Ties with New Professional Services Centre in Ho Chi Minh City
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.”
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:
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
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.
Air Corporate data reveals 9 in 10 founders incorporated in Hong Kong do so remotely, driven by a 20% surge in Middle Eastern entrepreneurs seeking cost-effective operational alternatives to Dubai.
HONG KONG SAR – Media OutReach Newswire – 15 May 2026 – Air Corporate registered a 40.5% increase in Hong Kong incorporations in 2025, with the first quarter of 2026 already up 48% year-over-year. This data indicates that Hong Kong is reasserting itself as the leading Asian jurisdiction for company formation, fueled by a new wave of remote founders from the Middle East, North Africa, and Europe.
The prevailing narrative over the past five years suggested that Singapore was eclipsing Hong Kong; however, recent incorporation volumes challenge this. According to city-wide official figures cited by Vivian, Founder of Air Corporate, approximately 195,000 companies were registered in Hong Kong in 2025, compared to around 77,000 in Singapore.
“There was a lot of fuss about Singapore taking over Hong Kong as preferred jurisdiction over the last few years, but for 2025 alone, around 195,000 companies were formed in HK, vs around 77,000 for Singapore,” said Vivian. While city-wide registrations rose roughly 35% in 2025, incorporations at Air Corporate specifically grew by 40.5%. Vivian added, “With a 35% increase in the number of companies registered in 2025, Hong Kong is definitely back in the game as the top jurisdiction to start a company.”
The reality of Hong Kong company formation is increasingly global, lean, and founder-led. Nine in ten founders incorporated in Hong Kong with Air Corporate do not live there.
Key demographic and operational insights from Air Corporate’s client base include:
- Approximately 90% of founders operate remotely from abroad, while 10% or less are based in Hong Kong.
- Entrepreneurs aged 35 to 44 represent the largest age cohort at 38%, demonstrating that Hong Kong attracts founders in their prime career years rather than just younger digital nomads.
- Serial entrepreneurs make up 60% of Air Corporate’s client mix, utilizing Hong Kong as an operational base for multiple companies, while first-time founders account for the remaining 40%.
- A total of 89% of new companies are launched by solo founders (58%) or small teams of two to five individuals (31%).
- Mainland China, Hong Kong, Turkey, India, the UAE, Australia, France, and Morocco rank among the top source markets for these founders.
Furthermore, 73% of new Hong Kong incorporations are directly tied to physical goods trade with China. This consists of e-commerce and dropshipping businesses (38%) and the trading of goods (35%). The recovery of in-person trade flows, including events, such as the Canton Fair and various industrial fairs, is pulling foreign founders back into the Greater China orbit and establishing Hong Kong as the natural entry point and financial layer over the world’s largest manufacturing base.
Air Corporate’s data recorded a 20% year-over-year growth in founders originating from the Middle East. This shift highlights a reverse migration where founders previously incorporated in Dubai are now choosing Hong Kong. Based on Vivian’s observations, founders often arrive in Dubai expecting fast incorporation and low costs, but discover that incorporation and maintenance are significantly more expensive than in Hong Kong, and banking remains difficult. Consequently, many founders move to Hong Kong after 12 to 24 months in the UAE, a trend accelerated by the Hong Kong government’s strategic outreach to the region.
For lean, remote-first businesses, speed-to-market is a critical factor. A founder located anywhere in the world can incorporate in Hong Kong and open a working bank account in approximately 7 days using digital banking partners. Currently, 90% of Air Corporate’s clients utilize these digital banking partners.
“Hong Kong and Singapore are the only places in Asia where you can set up your company, get a corporate account, and be in business in less than a week,” concluded Vivian.
Air Corporate is a service provider facilitating company formation and incorporation in Hong Kong for serial entrepreneurs, first-time founders, and remote-first business owners operating globally.
Media Inquiries
To learn more about Hong Kong company formation, visit Air Corporate’s website or contact their team directly.
Hashtag: #AirCorporate
The issuer is solely responsible for the content of this announcement.
Media OutReach
Natural Diamonds Sparkle on The Red Carpet at The 2026 Met Gala Celebrating “Costume Art”
Today’s biggest stars express individuality and confidence with natural diamonds
NEW YORK, US – Media OutReach Newswire – 15 May 2026 – The 2026 Met Gala celebrating “Costume Art” took place May 4th at the Metropolitan Museum of Art in New York City, bringing together leading figures from across the globe for an unforgettable evening. These tastemakers showcased the most classic, refined and distinctive diamond jewelry looks of the season. Below, A Diamond is Forever highlights the standout trends from the event.
Desert diamonds
Desert diamonds emerged as a striking throughline on the Met Gala carpet, with a range of hues in distinctive settings taking focus.
Rihanna led the trend in a pair of exceptionally rare old Moghul Golconda fancy brown-yellow diamond earrings by Glenn Spiro, featuring two pear-shaped natural diamonds totaling 51.9 carats. Doja Cat offset her all nude look with a pair of large Leviev Diamonds floral-shaped earrings while Paloma Elsesser made a statement in a 29.5-carat diamond necklace by Bernard James, centered around a 15-carat fancy light yellow pear-shaped natural diamond. Cara Delevingne wore a De Beers London Forces of Nature High Jewelry ring, featuring marquise yellow diamonds set as eyes, while Emma Chamberlain opted for yellow and white diamond earrings by Chopard, underscoring the continued allure of warm diamond hues.
Magnificent Diamond Earrings
A wide variety of captivating silhouettes defined the natural diamond earrings on the Met Gala carpet. Zoë Kravitz delivered a modern twist with oversized diamond flower earrings by Jessica McCormack. Chase Sui Wonders opted for Jean Schlumberger by Tiffany & Co. Sea Fan earrings, bringing an element of sculptural artistry to the look. Gracie Abrams selected gently dangling Chanel earrings, adding understated fluidity, while Connor Storrie selected simple hoop earrings from Tiffany & Co., reinforcing the clean and enduring appeal of natural diamonds.
Standout Diamond Moments
Natural diamonds appeared in personal, unconventional and eye-catching ways, offering moments of surprise and awe. Power couple Beyoncé and Jay-Z embodied this trend with Beyoncé wearing Chopard’s Queen of Kalahari necklace, named after the rare 342-carat diamond that provided 23 stones for Chopard’s Garden of Kalahari collection. Jay-Z contributed to the narrative with a vintage diamond brooch by Briony Raymond worn at the collar as an unexpected placement that underscored the piece’s versatility. Isha Ambani made the styling of diamonds an art form in itself, wearing her own diamond jewelry featuring approximately 150 carats of old mine-cut diamonds, including a three-strand necklace and chandelier earrings, while also incorporating diamonds sewn directly into the bodice of her sari to represent significant moments in her life.
Together, these looks highlighted a shift toward natural diamonds as vessels of personal expression, styled with intention, individuality, and a sense of the unexpected.
Hashtag: #MetGala #RedCarpet #ADiamondisForever #NaturalDiamonds #Diamonds
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Media OutReach
Turn Your Savings into a Front-Row Experience: HL Bank Singapore Offers Exclusive Passes to AsiaTop Music Festival 2026
The premier music festival will play host to 16 K-pop, regional and Malaysian stars including, in performance order: Day 1 – NexT1DE, Aina Abdul, Belle Sisoski, Win Metawin, NMIXX, WINNER, DAESUNG, KUN. Day 2 – Uriah See, Firdhaus, Butterbear, 82MAJOR, STAYC, CRAVITY, TWS, CxM
SINGAPORE – Media OutReach Newswire – 14 May 2026 – Your next major K-pop experience is just a savings goal away as HL Bank Singapore (“HLB Singapore”) bridges the gap between financial wellness and the front row. In an exclusive collaboration designed for the ultimate music enthusiast, the bank is offering fans the chance to secure a pair of sought-after AsiaTop Music Festival 2026 tickets, valued at up to RM1,098 (approx. S$355), simply by growing their wealth.
This unique initiative stems from the regional synergy between Hong Leong Bank (“HLB”) and Tencent Music Entertainment Group (JOOX and QQ Music). By aligning with Visit Malaysia Year and Visit Selangor Year 2026, HLB is transforming the traditional banking experience into a gateway for premium entertainment. Scheduled for 30 and 31 May 2026 at the iconic Sepang International Circuit, the festival promises a high-octane weekend featuring an elite lineup of Asian superstars, including the largest K-pop showcase in the ASEAN region.
Securing a spot at the heart of the action has been streamlined through the iSavings Reward Campaign, running from 9 May 2026 to 18 May 2026. To participate, fans first decide on their preferred festival experience, selecting either a pair of Standard Passes with a S$5,000 deposit or the high-energy, nearer-to-the-stars Rockzone Passes with a S$8,282 deposit for their chosen day.
Once a tier is selected, customers can register by depositing the qualifying funds into an iSavings account via FAST or Links transfer. To validate their entry, customers must include the specific Comment Code, such as PALLIR1 for Day 1 Rockzone, within the funds transfer description. The qualifying balance must be maintained within the account for a six-month (182 days) earmarked period.
With only 88 pairs of tickets available for this exclusive campaign, the stakes are high. Allocation is limited to 22 pairs per day for each ticket category and will be awarded strictly on a first-come, first-served basis. Fans are encouraged to act quickly to ensure their savings work as hard as they do while securing a premier seat at the musical event of the year.
For full terms & conditions, and further details, please visit: www.hlbank.com.sg/AsiaTop2026
Hashtag: #HLBankSingapore
The issuer is solely responsible for the content of this announcement.
HL Bank Singapore
HL Bank Singapore is the Singapore branch of Hong Leong Bank Berhad, a leading digital-centric Malaysia-based financial services institution with a rooted heritage in the country spanning over 120 years. Operating under a Full Bank Licence in Singapore, HL Bank offers a comprehensive range of financial services to our business, retail and high networth customers through our 4 core business segments – Business & Corporate Banking, Personal Financial Services, Private Wealth Management and Global Markets.
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