Alibaba.com, IMDA and Enterprise Singapore Sign MOI to Help Singapore SMEs Unlock Online Export Opportunities

Eligible SMEs can access diverse digital tools to deepen e-commerce capabilities and increase visibility on Alibaba.com

SINGAPORE, June 15, 2023 /PRNewswire/ -- Alibaba.com, a leading business-to-business (B2B) platform for global trade, signed a Memorandum of Intent (MOI) today with Singapore's Infocomm Media Development Authority (IMDA) and Enterprise Singapore (EnterpriseSG) to help small and medium-sized enterprises (SMEs) in Singapore connect with customers globally and strengthen their cross-border e-commerce capabilities.

For a start, Alibaba.com will work with IMDA and EnterpriseSG to enhance the exposure of all Singapore SMEs on its platform to create more opportunities for Singapore's exports into the global market. This will include the launch of a dedicated Singapore pavilion and a showcase of SMEs and products from Singapore in a prominent position on Alibaba.com's homepage.

Also, as part of the collaboration, Alibaba.com has worked with IMDA and EnterpriseSG to develop its pilot Go Global programme, which consists of curated Go Global packages to make it easier for SMEs to access B2B trade opportunities. Apart from priority placements on the platform for greater visibility, participating SMEs will also be entitled to a myriad of tools and services provided by Alibaba.com, such as specialised digital marketing tools and platform analytics, as well as dedicated consultancy and advisory services. They can also tap on the Alibaba.com Seller Training E-course, which comprises monthly training sessions – including on topics such as account set-up and business analytics – and third-party trainings around site designing, product posting and optimisation. Eligible local SMEs can receive up to 70% funding support to onboard the Go Global programme. More details on the Go Global packages can be found in the Annex.

"We are delighted to see IMDA and EnterpriseSG's commitment to creating an environment conducive to the digital growth of Singapore businesses, which aligns with our ongoing mission of supporting SMEs with the necessary tools and market reach to prosper in the digital age. Singapore businesses are renowned for their exceptional skill, professionalism and agility. Through this new collaboration, we hope to reach a wider breadth of SMEs here to help them scale their businesses through e-commerce," said Roger Luo, Head of Southeast Asia, Alibaba.com.

"With our SMEs accounting for 99% of all enterprises in Singapore and playing a vital role in our economy, it is important that they are able to leverage opportunities brought along by digitalisation. We believe that every SME can be digitally empowered and have been helping our SMEs digitalise through a number of support measures under IMDA's SMEs Go Digital programme. Alibaba's Go Global programme complements our ongoing efforts in assisting SMEs to access overseas markets more easily via digital platforms and reach out to more potential buyers. We encourage SMEs to tap on these packages to fuel their business growth and expand their presence beyond Singapore's borders," said Leong Der Yao, Assistant Chief Executive of the Sectoral Transformation Group, IMDA.

"Local businesses find themselves operating in an increasingly competitive playing field, and they must move fast to stay relevant and capture market share in today's digital economy. The cross-border e-commerce space is ripe with opportunity, and we encourage more businesses to incorporate this in their growth strategy as they look to scale their business abroad," said Soh Leng Wan, Assistant Chief Executive Officer, Manufacturing and Engineering, Enterprise Singapore. "We look forward to deepening our partnerships across the public and private sector, to help SMEs enhance their competitive advantage and grow on a global stage."

Alibaba.com also held an offline event today which gathered key stakeholders, Singapore SMEs who have onboarded the Alibaba.com platform, and SMEs interested in exploring B2B e-commerce. The attendees came together to understand the latest e-commerce trends, emerging categories, and new strategies for B2B companies to meet the needs of an increasingly digital-native consumer audience.

Locally based specialty food distributor, Dashmesh Pte Ltd., is one SME that has tapped on Alibaba.com's holistic packages to build up their brand visibility to customers all over the world. "We transformed our traditional export business model to an online model during the pandemic, and as a result, our revenue grew by 19% from new customers who found us online through Alibaba.com. Since joining the platform, we have received inquiries from 47 countries globally, including new countries we have not previously exported to before," said Praveen S/O Paramavisan, E-commerce Asst. Export Manager of Dashmesh.

Interested Singapore SMEs can apply for the Go Global packages through Innovative Hub, Alibaba.com's official Global Service Partner in Singapore and an e-commerce enabler serving local SMEs from now until November 2023. For more information, please visit this link.

About Alibaba.com

Alibaba.com is a leading platform for global B2B e-commerce that aims to make it easy to do business anywhere. Launched in 1999, Alibaba.com is engaged in services covering all aspects of commerce, including providing businesses with tools that help reach a global audience for their products and helping buyers discover products, find suppliers, and place orders online fast and efficiently. It serves millions of buyers and suppliers from over 190 countries and regions around the world. Alibaba.com is part of the Alibaba International Digital Commerce Group.

ANNEX: Details of Go Global packages

Package Options

Singapore SMEs eligible for the Go Global programme can select from the following package options and receive up to 70% funding support:

Eligibility

Any business entity that meets the following requirements will be eligible:

• Registered and operating in Singapore;
• Minimum of 30% local shareholding; and
• Group sales turnover not more than SGD 100 million per annum, or group employment size not more than 200 employees

SOURCE Alibaba.com