OCBC Bank (Macau) signed a Memorandum of Understanding (MOU) with the Macau-Singapore Economic, Trade and Culture Exchange Promotion Association to support Singapore enterprises in Macau.
Under the MOU, the parties may explore cooperation covering enterprise referrals, business matching and information exchange and activities that promote commercial interaction between Macau and Singapore. Singapore firms looking to set up or expand in Macau can gain access to market insights, business networks, banking and professional services.
This marks the association's first MOU with a bank to foster commercial ties between the two cities. The framework also aligns with policy priorities under the Macau SAR government's Third Five-Year Plan to advance appropriate economic diversification and strengthen Macau’s external economic and trade connectivity, OCBC said.
Kelvin Lou, director and chief executive officer of OCBC Macau, said that businesses need local market knowledge, trusted connections and access to the right partners beyond financing when they enter a new market
"By combining the Association's business network with OCBC's regional connectivity and cross-border banking capabilities, we aim to help Singapore enterprises navigate the Macau market more effectively and identify opportunities across Greater China," he added.
"Our role is to help these enterprises make the right connections, from accessing market information to identifying local business partners," said Benjamin Suen, chairman of the association. "We look forward to exploring practical ways to deepen business and cultural exchanges between Macau and Singapore."
Frank Feng
