The U.S. Department of Commerce, International Trade Administration (ITA) is organizing an Information and Communication Technologies (ICT) Trade Mission to Singapore and Vietnam from March 6-10th, 2017. The purpose of the mission is to introduce U.S. ICT companies to Singapore and Vietnam’s rapidly expanding ICT sector, and to assist in pursuing export opportunities in this sector.
The mission will also help U.S. ICT companies already doing business in these markets to increase their footprint and deepen their business interests. With the Administration’s emphasis on enacting the Trans-Pacific Partnership, medium and long-term opportunities will continue for American companies strategically positioned in these dynamic markets. The mission will not be an executive-led mission.
We encourage U.S. veteran-owned ICT companies to apply. However, you do not need to be a U.S. veteran-owned company to apply.
The goal of the ICT Trade Mission to Singapore and Vietnam is to provide U.S. participants with first-hand market information, exposure and access to government decision makers, and one-on-one meetings with business contacts, including potential agents, distributors and business partners, so that participants can position themselves to enter or expand their presence in the market. Mission participants will meet with potential partners and buyers in both countries at local manufacturing or service provider facilities. Additionally participants will meet with manufacturers’ associations and government officials to learn about the local market and sales opportunities. The precise schedule will be structured based on specific goals of the mission participants and availability of local government officials.
Target Products & Services for Trade Mission:
- Digital Infrastructure
- Emergency management technology equipment and services.
- Information technology and big data management service (e.g. electronic health records, billing information, etc...)
- Cyber security software, services, and equipment.
- Critical infrastructure protection systems and management solutions.
- Data loss and privacy protection technologies.
Trade between the U.S. and Singapore has continued to increase, thanks to one of the most successful FTAs on record, reaching $47 billion in 2014.
Singapore has one of the most developed ICT infrastructures in the world. It was the United States’ 13th largest export market and 17th largest trading partner in 2014 and is one of the best markets in Asia for U.S. companies hoping to expand their market penetration throughout Asia. With a U.S. style of business, strong intellectual property protection, easy to navigate market, an English-speaking society, and virtually no corruption, Singapore is a great regional trading hub.
Telecommunication and Internet facilities in Singapore are state-of-the-art, proving high-quality communications with the rest of the world. For mobile phone users, 3rd generation (3G) networks and services were rolled out in early 2005, 4G in 2011 and 4GLTE in 2014. The country is dependent on imports and U.S. products are traditionally well received here. Best prospects include equipment, content, software and technologies for broadband, wireless broadband, and 4G.
There are excellent opportunities to sell new applications and solutions to Singapore, as it is an early adopter of new technologies and innovations. Singapore’s telecom service operators are investing in infrastructure to improve their services. The Infocomm Development Authority (IDA) is the Singapore government agency that spearheads the strategic use of ICT in Singapore. It is seeking to work with vendors of cutting edge technologies with the goal of developing Singapore into a smart and connected nation.
Internet use in Vietnam is growing at break neck speed.
Today, Vietnam has more internet users than any other country in Southeast Asia, many of whom first went online thanks to mobile devices. According to Business Monitor International, as of Q216, 3G penetration in Vietnam has risen to over 43%, (representing 33% of all subscribers), up from just over 9% in 2011. Moreover, out of over 90 million people, over a third of the population uses smartphones.
The rapid growth in internet use is sparking a boom in mobile e-commerce and data consumption. Case in point: Vietnam is one of the fastest-growing markets for Facebook with more than 30 million users.
Analysts predict that the Internet market will continue to grow at a rapid annual pace of 9% for the next few years thanks to strong growth of over-the-top applications, e-commerce and Internet TV.
As major Vietnamese mobile carriers and Internet service providers such as Viettel Mobile (Vietnam’s largest operator by subscribers), Mobifone, Vinaphone, VDC and FPT, plan to upgrade their network infrastructure to improve the quality of connectivity, significant market opportunities for U.S. suppliers of networking equipment and power systems will continue to grow. Competition among mobile phone carriers means mobile data in Vietnam is among the cheapest in the world.
U.S. suppliers of cyber security equipment and software are also expected to see robust market opportunities as virtually all mobile operators and Internet service providers in Vietnam are increasingly making investments to protect and retain their customers. In 2014, security software revenue in Vietnam grew over 11% year-on-year and reached $16.2 million, according to International Data Corp. Furthermore, spending on network security which includes intrusion prevention grew by almost 20%.
Overall, many analysts predict that the Vietnamese software market will demonstrate strong and steady growth over the 2016-2020 timeframe, in part due to public sector investments in application and infrastructure.
With a vibrant economy and a large, youthful, tech-savvy population, Vietnam is a promising market for U.S. exporters. If you’re not already doing business in Vietnam, we would encourage you not to wait much longer.
Trade Mission Features
- Introduce your business to Singapore and Vietnam’s rapidly expanding needs for information and communications technology products.
- Facilitate trade between your business and firms found in Singapore and Vietnam with market briefings and site visits.
- Participate in one-on-one business appointments with pre-screened potential buyers, agents, distributors, and joint venture partners.
- Attend VIP networking receptions and events with business leaders and government representatives.
- Gain insights, make industry contacts, solidify business strategies, and advance specific technologies.
Fees and Expenses
- $3,200 for a small or medium-sized enterprise (less than 500 employees)
- $5,300 for a large firm
- $750 for each additional firm participant
- $700 for additional/optional meetings in Ho Chi Minh City
Expenses for travel, lodging, most meals, and incidentals will be the responsibility of each mission participant.
Recruitment for this mission will begin immediately and conclude no later than January 8, 2017. The U.S. Department of Commerce will review applications and make selection decisions on a rolling basis. Applications received after January 8, 2017 will be considered only if space and scheduling constraints permit.