Alibaba.com, the renowned business-to-business (B2B) platform, has entered into a Memorandum of Intent (MOI) with Singapore’s Infocomm Media Development Authority (IMDA) and Enterprise SG (Enterprise SG) to bolster the business activities of various sizes in Singapore. The collaboration aims to assist local enterprises in expanding their target markets globally by enhancing cross-border e-commerce solutions.
Under the MOI, Alibaba.com will initially provide small and medium-sized enterprises (SMEs) in Singapore with increased export opportunities, enabling them to penetrate the global market. This will be achieved through various initiatives, including the establishment of the Singapore Pavilion, a dedicated section on Alibaba.com’s homepage that offers priority placement for Singaporean products.
The joint efforts of Alibaba.com, IMDA, and Enterprise SG will culminate in the launch of the “Go Global” programme. This comprehensive initiative will encompass Go Global packages tailored specifically for SMEs, facilitating greater access to B2B opportunities. Additionally, SMEs will benefit from an array of tools and services for digital marketing, such as personalized insights and analytics. To equip SMEs with the necessary skills and knowledge, Alibaba.com will introduce the Alibaba.com Seller Training E-course.
The Alibaba.com Seller Training E-course will feature monthly training programs focused on account setup, business analytics, and other essential aspects of e-commerce. Furthermore, participants will have the opportunity to attend sessions that cover site designing, as well as product posting and optimization. This comprehensive training will empower SMEs to maximize their potential on Alibaba.com and improve their online presence.
To further support the growth of local SMEs, funding assistance may be provided. Eligible enterprises could receive funding of up to 70% to facilitate their participation in cross-border e-commerce activities and enhance their international competitiveness.
Expressing his enthusiasm for the partnership, Roger Luo, Head of Southeast Asia at Alibaba.com, commended the expertise and dedication of IMDA and Enterprise SG in expediting digital transformation in Singapore. He acknowledged that Singaporean businesses are renowned for their skills, professionalism, and agility. By combining their strengths, the collaboration aims to create a conducive environment for SMEs to thrive in the global market.
The MOI between Alibaba.com, IMDA, and Enterprise SG signifies a significant milestone in fostering cross-border trade for Singaporean SMEs. Through the Go Global programme and the comprehensive support provided, local businesses will have enhanced opportunities to expand their horizons and establish a global presence, leveraging the power of e-commerce and digital marketing.