In a significant step toward deepening regional economic integration and boosting foreign direct investment (FDI) flows, UOB has signed a tripartite Memorandum of Understanding (MoU) with the Federation of Malaysian Manufacturers (FMM) and the Singapore Manufacturing Federation (SMF). The agreement was formalised today at the ASEAN Conference in Singapore.
The strategic partnership aims to reinforce the Malaysia–Singapore manufacturing corridor by leveraging UOB’s regional network and sectoral expertise to support businesses—particularly small and medium-sized enterprises (SMEs)—in expanding across borders, tapping into new markets, and growing sustainably.
It aligns with the inclusive growth vision of the 2025 ASEAN Summit, chaired by Malaysia, and complements the momentum of the Johor–Singapore Special Economic Zone (JS-SEZ) agreement.
Liew Chin Tong, Deputy Minister of Investment, Trade and Industry of Malaysia, highlighted the MoU’s importance in advancing cross-border collaboration:“A core vision for the JS-SEZ is to establish a resilient and integrated supply chain ecosystem between Johor and Singapore.
“This partnership between FMM, SMF and UOB is timely and well-aligned to realise that ambition by harnessing our complementary strengths to drive innovation and productivity.”
UOB Malaysia CEO Ng Wei Wei reaffirmed the Bank’s commitment to the JS-SEZ, noting that UOB has already launched initiatives such as the Green Lane with Invest Johor, established dedicated SEZ Desks, and introduced fast-track account opening services.
“Since 2024, UOB has committed RM11.5 billion in financing for businesses in Johor and is facilitating RM10 billion in FDI flows into the zone. Through this MoU, we look forward to helping FMM and SMF members capture cross-border opportunities and contribute to ASEAN’s industrial growth,” she said.
The MoU outlines two core objectives: to promote opportunities by facilitating cross-border business projects—particularly between Singapore and Malaysia—and to deepen collaboration through joint trade, investment, and manufacturing initiatives.
UOB will provide advisory services, including customised market entry strategies and in-market guidance, to help FMM and SMF members navigate financial and operational challenges as they expand across Southeast Asia.
FMM President Tan Sri Soh Thian Lai welcomed the partnership, saying: “This collaboration paves the way for new cross-border success stories under the JS-SEZ. FMM is committed to helping our members, especially SMEs, capitalise on this initiative to foster innovation, pursue growth, and strengthen their presence in the regional manufacturing ecosystem.”
SMF President Lennon Tan echoed the sentiment, emphasising the need for agility and collaboration in a competitive ASEAN:
“ASEAN’s strength lies in how quickly our manufacturers can innovate, scale, and connect. Through this partnership with UOB and FMM, centred on the JS-SEZ, we aim to accelerate business expansion, improve supply chain resilience, and enable sustainable growth by opening clearer access to capital, talent, and technology.”
This tripartite MoU reflects UOB’s longstanding commitment to ASEAN’s sustainable economic development and its ambition to help manufacturers thrive in an increasingly interconnected and fast-evolving regional economy.
Source: https://sme.asia/uob-fmm-and-smf-forge-strategic-alliance-to-strengthen-malaysia-singapore-manufacturing-corridor/