UOB inks three-year MOU with Guangzhou Knowledge City on GBA-ASEAN ties

They will support companies seeking to expand into Singapore and ASEAN.

United Overseas Bank (UOB) and the China-Singapore Guangzhou Knowledge City Administrative Committee (KCAC) have inked a memorandum of understanding (MOU) to strengthen cross-border business, investment, and financial collaboration in the ASEAN and Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

The two parties said they will support companies seeking international growth opportunities and facilitate two-way investments and business flows between China and the ASEAN region.

“Together, we aim to help businesses seize cross-border opportunities, strengthen trade and investment links, and support sustainable growth between the Greater Bay Area and ASEAN,” said Eric Lan, head of group commercial banking, UOB.

The MOU, which spans a three-year period, will collaborate in five key areas that include economic transformation through greater engagement between government agencies, financial institutions, and enterprises.

They will also promote trade, investment, and supply chain connectivity through business forums, investment promotion activities, and cross-border exchange platforms.

UOB and KCAC also plan to provide businesses with market insights, cross-border advisory services, and access to international financing solutions to support their overseas expansion into Singapore and ASEAN.

They also laid out plans to help enterprises optimise their cross-border fund management, treasury operations, and foreign exchange risk management.

They also plan to explore opportunities to strengthen financial services capabilities within Guangzhou Knowledge City.