MRA Grant for Vietnam: A Strategic Gateway for Singapore SMEs Expanding into Southeast Asia

Vietnam has emerged as one of the most promising markets in Southeast Asia, offering rapid economic growth, an expanding middle class, and increasing digital adoption. For Singapore SMEs with regional aspirations, Vietnam represents a high-potential destination. To support this venture, Enterprise Singapore offers the Market Readiness Assistance (MRA) Grant for Vietnam – a financial aid programme designed to encourage and subsidize market entry efforts.

In this article, we’ll explore how Singapore-based businesses can use the MRA Grant Vietnam to establish their presence in the Vietnamese market and grow their international reach.

Why Vietnam is an Attractive Market for Singapore Businesses

Vietnam offers unique strategic and economic advantages, making it a prime target for Singapore companies aiming for overseas expansion. Here are some compelling reasons:

1. Young and Dynamic Population

Vietnam has a population of over 97 million, with a large proportion under the age of 35. This youthful demographic presents a strong consumer base, particularly in tech, retail, education, and entertainment sectors.

2. Rapid Economic Growth

Vietnam has consistently maintained strong GDP growth rates and is projected to continue its upward economic trajectory. This provides fertile ground for investment and business opportunities.

3. Strategic Location

Situated in the heart of Southeast Asia, Vietnam offers access to regional markets, making it ideal for businesses using Vietnam as a launchpad for ASEAN expansion.

4. Favorable Bilateral Relations

Singapore is one of Vietnam’s top investors and trading partners. Strong diplomatic and economic ties create a supportive environment for business collaborations.

Overview of the MRA Grant Vietnam

The Market Readiness Assistance (MRA) Grant for Vietnam is part of Enterprise Singapore’s commitment to help local SMEs internationalize. The grant supports a wide range of activities essential for market entry, including promotional activities, in-market business development, and market set-up.

Eligible businesses can receive up to 50% support on qualifying costs, capped at S$100,000 per new market per fiscal year.

This support enables Singapore SMEs to confidently explore the Vietnamese market without bearing the full financial risk.

Eligibility Criteria for the MRA Grant Vietnam

To qualify for the MRA Grant Vietnam, a company must fulfill the following criteria:

• Be registered and operating in Singapore

• Have at least 30% local shareholding

• Group annual turnover not exceeding S$100 million or fewer than 200 employees

• Must not have received the MRA Grant for Vietnam within the same fiscal year

Applications must be submitted through the Business Grants Portal (BGP) before the commencement of any qualifying activity.

Claimable Activities Under MRA Grant for Vietnam

Enterprise Singapore has outlined specific areas of support under the MRA Grant Vietnam, grouped into three categories:

1. Overseas Market Promotion

• Participation in exhibitions, trade shows, and roadshows in Vietnam

• Public relations and digital marketing campaigns targeting the Vietnamese audience

• Translation of promotional materials for Vietnamese consumers

2. Overseas Business Development

• Engaging Vietnamese business partners, resellers, or distributors

• Business matching services with local partners

• In-market business development consultancy

3. Overseas Market Set-Up

• Legal and accounting advisory for setting up a legal entity in Vietnam

• Trademark and intellectual property registration

• Employment compliance and HR advisory

These activities cover the full spectrum of business entry needs, from market testing to establishing operations.

MRA Grant Vietnam Funding Breakdown

The MRA Grant funding caps per activity category are as follows:

Activity Category	Maximum Support Cap
Market Promotion	Up to S$20,000
Business Development	Up to S$50,000
Market Set-Up	Up to S$30,000

This structured support allows businesses to allocate budgets effectively across different stages of market entry.

Step-by-Step Application Process for MRA Grant Vietnam

Applying for the MRA Grant involves four major steps. Proper planning and documentation are essential for a successful application and claim.

Step 1: Pre-Application Preparation

• Confirm your company’s eligibility

• Identify vendors and service providers (ensure they are pre-approved, if applicable)

• Gather quotations and a project proposal or scope of work

Step 2: Submit Application via Business Grants Portal

• Use CorpPass to log in to Business Grants Portal (BGP)

• Fill in the required details and upload supporting documentation

• Await Enterprise Singapore’s approval before starting the project

Step 3: Execute the Approved Project

• Begin only after grant approval

• Maintain proper records of deliverables, invoices, and reports

Step 4: Submit Claim

• Upload all required documents including timesheets, marketing outputs, and final reports

• Enterprise Singapore will process the claim and reimburse accordingly
  

Key Considerations for a Successful MRA Grant Vietnam Application

To maximize your chances of approval and a smooth claim process, keep these best practices in mind:

• Engage approved consultants for business matching or market advisory where necessary

• Start only after approval to ensure claim eligibility

• Keep documentation well-organized, including photos, contracts, invoices, and outputs

• Do not exceed the cap limits allocated per category

• Ensure relevance of each activity to market entry in Vietnam
  

Case Examples: How Singapore SMEs Have Used the MRA Grant Vietnam

Case Study 1: Education Technology Firm

A Singapore-based edtech SME used the MRA Grant Vietnam to localize their platform for Vietnamese students. The grant funded translation, digital marketing, and school outreach events.

Case Study 2: Retail Brand Launch

A lifestyle retail brand utilized the MRA Grant to launch pop-up stores in Ho Chi Minh City and run influencer-led campaigns to build brand awareness.

Case Study 3: B2B Software Expansion

A software firm focused on logistics engaged a Vietnamese business development consultant using the grant. The consultant helped them onboard five new B2B clients in Hanoi.

These examples show the flexibility of the grant across industries and expansion strategies.

Benefits of Hiring a Consultant for MRA Grant Vietnam

Although businesses can apply independently, working with a grant consultant can enhance your outcomes. Consultants offer:

• Expertise in structuring a winning grant application

• Knowledge of vendor requirements and document preparation

• Support in ensuring compliance with grant policies

• Timely advice on market-specific business setup strategies

This is especially helpful for SMEs with limited experience in international grant applications or Vietnamese business practices.

Sectors Poised for Success in Vietnam

Singapore SMEs in the following sectors stand to gain significantly by using the MRA Grant for Vietnam:

• Education – Demand for private schools, edtech, and language training is booming

• Healthcare – Medical technology and telemedicine solutions are in high demand

• IT & Software – Vietnam’s digitalization push creates opportunities for tech firms

• Retail & E-Commerce – Urban consumers are increasingly shopping online and seeking new lifestyle brands

• Food & Beverage – Singaporean cuisine and franchising models resonate well with urban Vietnamese audiences

Identifying a relevant product-market fit before entering is key to success in Vietnam.

Final Thoughts: Seize Vietnam’s Potential with the MRA Grant

The MRA Grant for Vietnam provides Singapore SMEs with a low-risk, high-impact way to test, enter, and grow in a thriving Southeast Asian economy. With up to S$100,000 in support available, businesses can conduct meaningful expansion activities that would otherwise pose significant financial burdens.

From business development and brand promotion to operational setup, the MRA Grant Vietnam is a powerful tool that supports each stage of international growth.

If you're a Singapore SME ready to take your business global, Vietnam is one of the most exciting places to begin—and the MRA Grant is the perfect partner on that journey.