HSBC, SBF to help Singapore businesses scale GBA, India, Middle East

HSBC launched a business guide and will offer net zero transition solutions.

HSBC and the Singapore Business Federation (SBF) have signed a memorandum of understanding (MOU) to help Singapore businesses expand activities in the Greater Bay Area (GBA), India, and the Middle East.

The MOU–inked at the Singapore Apex Business Summit 2024 on 24 July at the Sands Expo and Convention Centre–will see HSBC offer solutions to Singapore businesses to support their net zero transition needs.

HSBC has also launched a business guide that provides insights to six major markets within ASEAN as well as the GBA, India, and the Middle East.

This makes HSBC the first global bank in Singapore to sign a MOU with SBF, with a focus on support for local businesses’ overseas expansion and transition needs, the bank said in a press release.

SBF CEO Kok Ping Soon said that they are “delighted” to collaborate with HSBC to help more Singapore companies scale their business in India and the Middle East.

“Both markets present growth opportunities – such as components manufacturing, semiconductor, automobile manufacturing in particular electric vehicle solutions, and clean energy for India, and urban infrastructure solutions, energy and renewables, and fintech for Middle East,” Kok said in a statement.

Kok believes that by leveraging SBF and HSBC’s combined resources and expertise, they will be able to arm Singapore businesses better with the necessary insights, data and networks needed to grow in these markets.