Exporting seafood to Singapore

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With a 3260-kilometer-long coastline and a 12-knot-wide territorial sea, Vietnam
has much great potential for developing seafood. In fact, in past years, the Vietnam
seafood industry has experienced significant growth. In the international seafood market,
Vietnam achieved a high and strong position increasingly and competitive capability. As
being economic students in Foreign Trade University, our group has been conducting this
research on exporting seafood products of Minh Phu Seafood Corporation to Singapore.
After 20 years of continuous development, Minh Phu has become one of leading seafood
corporations with largest seafood export revenue in Vietnam as well as in the region and
all over the world. In addition, Singapore is regarded as a large potential market for
seafood exporting industry.
A goal target of this research is to provide the essential knowledge for the future
entrepreneurs to conduct our own business more effectively. In addition, International
business is the current trend for many companies, so this research can help to improve
our abilities and broaden our views in running business in the future. To do this study
successfully, our methodology is desk research. First, we try to provide necessary
information about Singapore in terms of political risk, economic freedom, market
potential from different sources such as printed books and internet. Then, we focus on
analyzing the effect of these aspects on our export activities to implement the appropriate
plans to export seafood products to this market. Finally, we reach to conclusion about
Minh Phu Seafood Corporation’s exporting decision to Singapore.

Singapore is a South-east Asian island city-state which is made up of the main
island with 42 kilometers in length and 63 surrounding islets, separated from Malaysia by
the Strait of Johor to its north and from Indonesia’s Riau Island by the Singapore Strait to
its south. Today, the total population of Singapore is 5.18 million including 1.4 million
foreigners (DFAT, 2012), and there are three major ethnic groups within the local
community are Chinese, Malay and Indians.
Being a small country with not much land area, therefore, Singapore is not
particularly rich in natural resources. Natural resources in Singapore can be categorized
into three kinds: nonrenewable resources (such as coal, oil or natural gas), renewable
resources and water resource. Among three kinds, water resource is considered to be...
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