Overview

Here you can find our professional Market Readiness Assistance application and facilitation service, along with tailored services and deliverables below each table. Please note, each application will be different subject to the business model and Aquarii is fully flexible with this process. To find out more about a tailored MRA application, click here to get in contact with our experienced team. To find out more about Market Readiness Assistance grants in general, you can check our in-depth guide and FAQ here.

Market Readiness Assistance Application Assistance

Aquarii BD offers full advisory and facilitation services for all businesses looking to expand into Cambodia.

In particular, we are able to advise and assist Singapore SMEs that are eligible for the Market Readiness Assistance (MRA) grant provided by Enterprise Singapore (ESG) – having gone through the MRA application process and utilization of the grant components, we are able to guide Singapore SMEs in how the relevant components of the grant can be applied for, and utilized appropriately so that their operations can be set up efficiently and how the costs of their market entry setup and activities can be defrayed by the grant.

Market Readiness Assistance Components

For your convenience, we have broken down everything you need to know about the three components of the MRA in the graph below, namely Overseas Market Promotion (OMP), Overseas Business Development (OBD), and Overseas Market Set-up (OMS), with the complete list of service deliverables that Aquarii offers below.

Overseas Market Promotion (OMP) – S$20,000 per new market

Type Supportable Activities Deliverables
Overseas marketing and PR activities Third-party costs incurred for:
•    Marketing and PR activities including launch of in- store promotions, road shows, pop-up stores, fashion shows, developing social media presence such as ads and content-seeding, media coverage
•    Products and services pitching at overseas physical and virtual business/trade conferences		 •    Event write-up attached with corresponding materials such as photographs and publicity materials
•    Overall roadmap/communication plan of activities that have been completed
•    Invoices/receipts/bank statements for payment made to third-party vendor such as proof of payment for costs incurred
(Note: Proof of completion should include but not limited to the above)
Participation in Overseas Physical and Virtual Trade Fairs NOT supported under LEAD International Fairs & Missions (LEAD)

Overseas Physical Trade Fairs

Third-party costs charged by Event Organisers relating to:

•    Space rental (capped at 36 square metres)
•    Booth design and construction (capped at 36 square metres)

•    Pitching of products, services, technology and industry capabilities of Singapore

Virtual Trade Fairs
Packaged fees charged by Event Organisers relating to:
•     Virtual Exhibition hall & Booth access
•     Collateral creation (EDMs, booth write-up)
•     Business Meeting/Matching sessions
•     Pitches/Product launches/Speaking Slots
•     Webinar/Conference
•     Post Event Analytics

Third party costs relating to
•     Publicity (design and production of digital collaterals, promotion materials) for trade fairs and virtual fairs
•     Logistics costs for virtual fairs only (transportation of materials/samples overseas)

Overseas Physical Trade Fairs
•    Event write-up attached with corresponding materials, such as exhibitor listing, photographs of booth setup, publicity materials which reflects the company’s name
•    Invoices/receipts/bank statements for payment made to third-party vendor, such as proof of payment for the costs incurred

Virtual Trade Fairs
•    Screenshots of exhibitor listing, publicity materials, virtual booths, virtual business meetings/matching sessions, post event analytics report product samples for virtual fairs (where available and/or applicable)
•    Event write-up attached with corresponding materials, such as photographs of booth setup, publicity materials and exhibitors’ listing which reflects the company’s name
•    Invoices/receipts/bank statements for payment made to third-party vendor, such as proof of payment for the costs incurred
(Note: Proof of completion should include but not limited to the above)

What can Aquarii BD do?

  • Assist to review and advise on the application form and processes
  • Provide inputs and help strategize a marketing and communications plan
  • Organize and advise on the marketing and PR activities including instore promotion, road shows, etc **
  • Write up PR in both Khmer & English
  • Invite local media and relevant businesses to the launch of the client’s products / services 
  • Design and print marketing materials and booth design **
  • Recommend, engage, and facilitate booth rental (if applicable) and set up at the right Physical and Virtual Trade Fairs **
  • Shortlist and recommend to client of service providers for specific services / areas of need

**Aquarii will work with a trusted marketing and PR firm. Alternatively, a client may wish to work directly with our recommended partners which can be facilitated through the Aquarii BD service.

Overseas Business Development (OBD) – S$50,000 per new market 

Please find the OBD components in this table, with Aquarii services listed below.

Type Supportable Activities Deliverables
Business matching

Third-party costs incurred to identify potential partners and/or customers (B2B) including the following:
•    Licensees/franchisees
•    Agents and distributors
•    Joint venture partners

•    Cross-border logistics partners

 Consultancy report on the potential customer segment(s) profile in the selected market and business matching outcomes:
•     List  of  potential  partners  and  their  profiles  for selection
•     Documentation    on    the    scheduled    business meetings with selected partners including pictures of meetings, name cards of potential partners
•     Outcome  and  rationale  for  the  suitability  of  the selected partner(s)
Overseas Marketing    Presence (OMP) Project-specific eligible expenses:
•     Salary of 1 permanent BD staff* stationed at OMP**
•     Rental of OMP

*An employee is deemed to be a permanent staff when his/her employment contract only indicates the employment start date, without specifying an end date.

Project-specific criteria:
**OMP   is   used   for   the   purpose   of   marketing/business development. Standalone rental expenses would not be supported. 
Applicant can post Singaporean/PR/foreigner to be based in the OMP to conduct marketing/BD work. Supportable expenses (salary and rental) will be pegged at 50% support level for SG/PR, 30% support level  for foreigners. Staff need not be a new hire.

•     Set up of overseas marketing presence (e.g. rental agreement/invoice, bank transaction proof) 
•     Documentation to show proof that the marketing activities have been conducted in market (e.g. plans detailing the business strategy/business roadmap, report detailing the project progress, marketing collaterals)
•     Posting of the Singaporean/SPR/foreigner (e.g. appointment letters, pay slip to show that applicant had made payment to BD staff, proof of stay in market – residential agreement, passport departure and arrival dates, long stay hotel agreement, bank transaction proof)

•     Proof of rebilling of the invoices to accrue expenses back to the Singapore applicant if its overseas subsidiaries are involved in executing and paying for the expenses incurred
(Note: Proof of completion should include but not limited to the above)
In-market Business Development Third party costs relating to subscription costs of outsourced BD services for up to 12 months
Activities could include:
•     Preparation of local in-market BD personnel, product training
•     Embarking on BD activities to reach out to new business leads
•     Implementation of market entry activities
•     Regular updates on the progress of BD effort.
•     Reviewing market entry strategy and advice on setting up of entity in the market or future strategy plans, etc

•     Updates    of    local    in-market    BD    personnel’s progress, and documentation and outcomes of business meetings
•     Report on market updates, including advice on set-up of entity in the market or future strategy plans, etc.

(Note: Proof of detailed consultancy report should include but not limited to the above)

What Aquarii BD can do?

  • Assist to review and advise on the application form and processes
  • Identify and recommend list of potential partners/distributors/agents for client’s consideration
  • Recommend qualified freight forwarder(s) based on client’s needs/requirements
  • Arrange and facilitate business meetings/matchings with selected partners/contacts/resource persons
  • Recommend office space and locations based on client’s needs/requirements
  • Recommend HR recruitment agency(ies) as necessary
  • Recommend and work with local research companies on market feasibility or other surveys on consumer behavior etc in accordance with client’s needs and requirements
  • Provide consultancy and updates of local in-market personnel’s progress, and documentation and outcomes of business meetings
  • Report on market updates,  including advice on set-up of entity in the market or future strategy plans, etc.

Overseas Market Set-Up (OMS) – S$30,000 per new market 

Please find the OMS components in this table with Aquarii services listed below.

Type Supportable Activities Deliverables
Market Entry Advisory, legal and documentation expenses relating to:
•    Name search
•    Intellectual Property (IP) Search and application
•    Filing and registration for sales/representative offices or equity entity
•    Implementation of recommended tax structures
•    Import and export licences
•    Drafting of franchising, licensing, agency, distributorship and joint venture agreements (limited to only the first set of such agreement)
•     Trade Credit Insurance (TCI)

•     Relevant filing documents submitted to authorities
•     Copies of certificates, permits, licenses obtained
•     Copies of franchise/JV agreements
•     Report on assessment of financial and recommendation

(Note: Proof of completion should include but not limited to the above)
In-depth FTA Consultancy

Consultancy, advisory and legal expenses relating to:

•    Product HS Classification
•    Customs compliance (including customs valuation)

•    General trade compliance review/assessment

•    Export controls and sanctions

•    In-depth assessment to identify opportunities available in FTAs

•    Consultancy for FTA compliance, including internal guidelines/checklist

•     Assessment/Analysis report on company’s current situation, FTA benefits, recommendations
•     Copies of customised manual, guidelines, Standard Operational Procedures (SOP), etc.

(Note: Proof of completion should include but not limited to the above)

What Aquarii BD can do? 

  • Assist to review and advise on the application form and processes
  • Advise, assist and facilitate company registration in Cambodia including but not limited to business registration at MoC, GDT, MLVT, and other related ministries based on the company’s business activities and other permits and licenses such as Import & export license, e-commerce license, etc.
  • Advise, assist and facilitate on recommended tax structures, common issues, solutions, etc. for tax compliance
  • Consult and advise on the Qualified Investment Project (QIP) eligibilities and benefits if the client is qualified for this investment incentive
  • Drafting of franchising, licensing, agency, distributorship and joint venture agreement, etc.
  • Help draft and hand over templates and documents such as Non-Disclosure Agreements, Service Agreements, Letter of Employment, Employment Contract and other such SOPs that may be essential for entity’s operations
  • Recommend Trade Credit Insurance (TCI) 
  • Shortlist and recommend service providers for specific services / areas of need as applicable

Points of consideration for Market Readiness Assistance Applications:

To note: The services offered by AquariiBD Cambodia may vary based on the scope of services and needs of the client and the cap of the grant. We offer a unique blend of our advisory and facilitation services by leveraging on our diverse network of strategic partners, business and government contacts, resource persons and industry experts to provide best-in-class trusted services to our clients. That said, we are fully flexible in delivering a service tailored to your business needs. If you need professional assistance with MRA, from a highly connected Cambodia-based business consultancy, find out how we can help you today, here.

If you want to learn more about the basics of MRA, you can do so here, or to find out more about the variety of business consultation services that Aquarii offers, you can do so here.