NTUC FairPrice, with support from Vietnam Trade Office in Singapore, holds Vietnam Fair to celebrate 45 years of diplomatic relations; now offers 650 Vietnamese products across stores
Vietnam Fair is launched in celebration of the 45th year of diplomatic relations and fifth year of strategic partnership between Singapore and Vietnam. Supported by the Ministry of Industry and Trade in coordination with theEmbassy of the S.R. of Vietnam in Singapore, Vietnamese-imported favourites will be offered at discounts across its stores island-wide, over the course of the fair.
Currently, more than 600 Vietnamese products are stocked at FairPrice, a result of significant increase over the past few years, as FairPrice grows and diversifies its offerings to better serve its customers.
To commemorate its launch, the event will be graced by His Excellency, Mr Nguyen Xuan Phuc, Prime Minister of the Socialist Republic of Vietnam, along with Mr Pham Binh Minh, Deputy Prime Minister and Minister for Foreign Affairs; Mr Mai Tien Dung, Minister, Chairman of the Office of the Government, Mr Tran Tuan Anh, Minister for Industry & Trade and Mrs Tao Thi Thanh Huong, Ambassador for Vietnam to Singapore.
Singapore and Vietnam first established bilateral diplomatic relations 45 years ago and since then the relationship between our countries has grown from strength to strength. This excellent and multi-faceted relationship was further elevated to that of a strategic partnership 5 years ago, which served to further deepen the bond and co-operation between our two countries. It was also at this momentous milestone that NTUC FairPrice and Saigon Co.op launched our first joint venture store, Co.op Xtra Plus in Ho Chi Minh City.
This partnership achieved a few goals: first, it enabled FairPrice to widen our sources of supply as part of our diversification strategy; second, it benefitted consumers in Singapore as they now can enjoy a wider range of Vietnamese products and at lower prices due to economies of scale; finally, it also allowed consumers in Vietnam to also enjoy access to more varieties of products at affordable prices.
Since then, FairPrice and Saigon Coop expanded and opened a second Co.op Xtra store in 2015 and a third one this year. Plans are underway to open another two more Co.op Xtra stores next year. We have also introduced our convenience format, Cheers, to Vietnam this year and we now operate 13 stores today. By the end of 2020, we aim to open 100 stores.
Over the years, Vietnamese products have also grown in popularity and become a staple in many Singaporean households. Whether it is Vietnamese rice, which now comprises more than one-fifth of all the rice sold here at FairPrice, fresh produce and frozen seafood or even laundry aids and detergent – we have seen an increased acceptance and demand for Vietnamese products.
This would not have been possible had it not been for the positive working relations, goodwill and commitment by both sides towards forging stronger bonds for the joint benefit of the economies of both Vietnam and Singapore.
The strong relations and mutual understanding have enabled FairPrice to similarly offer about 650 products from Vietnam, across over 40 product categories in Fairprice stores today.
At this fair, more than 40 Vietnamese products will be featured and made available to our consumers with attractive discounts of up to 45 percent off. These include popular items ranging from condiments like fish sauce, fresh produce like dragonfruit to organic items such as UHT milk and frozen seafood. These are all on display prominently from today for all customers to enjoy.