The Singapore Chinese Chamber of Commerce and Industry (SCCCI), the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), and UOB have signed a Memorandum of Understanding (MOU) to enhance cross-border business collaboration. This agreement focuses on boosting investments, particularly in the Johor-Singapore Special Economic Zone (JS-SEZ) and broader Southeast Asia.
With Southeast Asia expected to become the world's fourth-largest economy by 2030, this partnership aims to leverage the strengths of SCCCI, ACCCIM, and UOB. The goal is to promote strategic collaborations that facilitate business opportunities and enhance regional connectivity between Singapore, Malaysia, and beyond.
The JS-SEZ represents a key aspect of this initiative, highlighting economic integration potential between Singapore and Malaysia. It aims to strengthen inter-linkages, improve value propositions, and generate employment opportunities.
Under the MOU, SCCCI and ACCCIM will work together to identify business opportunities in Southeast Asia. They aim to foster collaborative investment projects involving their members within the region.
UOB will complement these efforts by providing financial solutions such as loans for working capital and cash management needs. They will also offer advisory services to help members navigate financial aspects when establishing a presence in Southeast Asia.
Activities planned under this partnership include visits, conferences, networking events, and proposing new initiatives. These are designed to connect businesses with opportunities while advocating for business-friendly policies.
"This collaboration exemplifies the spirit of partnership that reinforces and complements the efforts of the government," said Mr. Kho Choon Keng, President of SCCCI. "Together with ACCCIM and UOB, we endeavor to unlock vast opportunities presented by the JS-SEZ."
Datuk Ng Yih Pyng, President of ACCCIM stated: “This collaborative MoU demonstrates our commitment to forge closer cooperation... unlocking new avenues for businesses.”
Mr. Wee Ee Cheong from UOB commented: “UOB is committed to fostering strategic collaboration... enabling companies to navigate complexities... achieving sustainable growth across ASEAN.”
This strategic partnership aims at unlocking potential in JS-SEZ while strengthening economic ties between Singapore and Malaysia.