HSBC partners Singapore Business Federation to help local businesses expand overseas

24 Jul, 2024

HSBC partners Singapore Business Federation to help local businesses expand overseas

HSBC and the Singapore Business Federation (SBF) have signed a memorandum of understanding (MOU) to support local businesses in capturing new growth opportunities in key trade corridors, including the Greater Bay Area, India, and the Middle East. The partnership aims to help Singapore businesses venture into emerging markets by leveraging SBF’s extensive local network and HSBC’s global connections. Through this collaboration, Singapore-based business leaders will have access to HSBC’s expertise in overseas business expansion and sustainable finance, aiding their growth and net-zero transition efforts. The initiative also seeks to broaden its reach to local businesses via SBF’s community network.

Wong Kee Joo, the CEO of HSBC Singapore, emphasized the importance of local businesses in the Singapore economy, stating that connecting these businesses early to global trade flows, particularly in under-tapped markets like India and the Middle East, is crucial for their success. He also highlighted Singapore's role as a strategic gateway for global businesses to capitalize on opportunities within the ASEAN region. This partnership between HSBC and SBF is set to provide comprehensive support to Singapore businesses, fostering their growth and facilitating their integration into the global market, thus enhancing their competitive edge and sustainability.