Singapore firms ink partnership deals with ICBC

Singapore firms ink partnership deals with ICBC

Five memorandums of understanding (MOUs) were signed on Monday (Sep 19) between Chinese bank ICBC and Singapore firms, such as SGX, SBF and Surabaya Jurong.

panel discussion at ICBC forum

SINGAPORE: Singapore continues to court infrastructure partnerships between Chinese enterprises and the city-state. Five memorandums of understanding (MOUs) were signed on Monday (Sep 19) between Chinese bank ICBC and Singapore firms, such as SGX, SBF and Surbana Jurong.

Speaking at the "Belt and Road" Infrastructure Cooperation and Financing Forum organised by ICBC, Trade and Industry Minister (Trade) Mr Lim Hng Kiang said growth prospects in ASEAN remain bright, with its growing middle-class and rapid urbanisation.

He added that Singapore is well-positioned to help tap these opportunities as an infrastructure development and financing hub.

"Singapore and Chinese companies can build on existing strong relationships to foster partnerships and tap infrastructure opportunities in ASEAN and beyond," Mr Lim said.

"Singapore companies possess good track record and expertise across the infrastructure value chain. This includes expertise in master-planning, engineering design, procurement, construction and operations," he added.

Source: CNA/dl

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