HSBC signs MOU with Singapore Business Federation

This collaborative effort is aimed at assisting Singaporean businesses in exploring growth opportunities within major trade regions such as the Greater Bay Area, India, and the Middle East. The MOU outlines the use of HSBC’s global network and resources to support local businesses in their efforts towards sustainable practices and international expansion. HSBC will also provide guidance on sustainability and support companies in their transition to net-zero emissions. 

As part of the initiative, HSBC has introduced the ‘Business Guide to ASEAN and Beyond,’ which offers information on operating in six major ASEAN markets and key trade corridors. This guide is intended to help local businesses understand and capitalise on international opportunities, leveraging HSBC’s expertise and global connections. 

The MOU supports Singapore’s objective to improve the international and regional connectivity of local businesses. It emphasises promoting international expansion, sharing knowledge on sustainable finance, and enhancing local-global connectivity through SBF’s network.

Future developments under the agreement

Future activities under this agreement include seminars focused on business operations in targeted markets and organised trips to India and the Middle East, designed to provide Singaporean business leaders with relevant insights and resources. 

Representatives from SBF commented that the collaboration with HSBC aims to support Singaporean companies in entering the Indian and Middle Eastern markets. They highlighted growth prospects in sectors such as components manufacturing, semiconductors, electric vehicles, clean energy in India, and urban infrastructure, energy, renewables, and fintech in the Middle East. 

In turn, officials from HSBC Singapore noted that the ‘Business Guide to ASEAN and Beyond’ is intended to assist both local and global businesses by providing market insights and data to help them expand into new trade corridors. They emphasized that SBF’s extensive experience in supporting local businesses makes them a valuable partner in this effort.