SBF inks MOU with Infrastructure Asia to strengthen support for Singapore companies to participate in regional infrastructure opportunities
25 October 2018 [Singapore] -The Singapore Business Federation (SBF) signed an MOU with the newly launched Infrastructure Asia (IA) at the Asia-Singapore Infrastructure Roundtable organised by Enterprise Singapore, in the presence of more than 300 participants from Singapore and the region this week.
The MOU, signed on the occasion of the official launch of the Infrastructure Asia on 23 October 2018, establishes a closer collaboration between the SBF Infrastructure Committee (SBF IC) and IA to catalyse project collaboration.
The MOU aims to enhance the visibility of regional project opportunities for Singapore-based companies through workshops and marketing initiatives, as well as market and match Singapore-based companies equipped with relevant technical, financial and/or professional services solutions to project opportunities.
The SBF IC, the newest Committee set up under SBF, was launched on 27th August 2018 at the FutureChina Global Forum and Singapore Regional Business Forum (“FCGF® & SRBF®”). A private sector-led initiative, the SBF IC aims to build a well-functioning infrastructure ecosystem to help Singapore companies seize regional infrastructural opportunities.
Mr Pek Lian Guan, Vice Chairman of SBF and Chairman of the SBF Infrastructure Committee (SBF IC), represented SBF to endorse the MOU. Infrastructure Asia was represented by Mr Seth Tan, Executive Director of Infrastructure Asia Division, Enterprise Singapore. The MOU signing ceremony was witnessed by Minister Heng Swee Keat and Minister Indranee Rajah. Other witnesses include ESG CEO Mr Png Cheong Boon, MAS Deputy Managing Director Ms Jacqueline Loh, SBF Chairman Mr S. S. Teo and SBF CEO Mr Ho Meng Kit.
Commenting on the MOU, Mr Pek said, “There is great synergy between the SBF IC and IA. Based on the first meeting of the SBF IC following its launch, the committee has agreed to focus on utilities, transport, telecommunications, built environment sectors in ASEAN and South Asia, which aligns with the sector and geographical focus of the IA. With a close alignment of our objectives, the SBF IC and IA will be able to focus our resources to help market and provide ready access to more Singapore companies to opportunities in the region.”
Mr Ho welcomed a closer collaboration with Infrastructure Asia. “The IC is a new and priority initiative of SBF. The SBF IC is formed by 15 key stakeholders of infrastructure sectors in Singapore and they represent real life practitioners who can give constructive feedback to guide Singapore’s participation in regional infrastructure opportunities. With their rich knowledge and expertise, the SBF IC will also engage IA to provide effective policy feedback and propose incentive schemes that give Singapore companies involved in infrastructure projects a further boost.”
Mr Tan said, “Infrastructure Asia will work closely with the private sector, governments, commercial and multilateral development banks to provide solutions that are customised to meet the local market’s specific needs and requirements. We will also offer advice to relevant countries and work with them on capacity building. With better knowledge, skills and resources, we can improve project feasibility and bankability, enabling project leads to become viable commercial projects.”
Infrastructure Asia, led by Enterprise Singapore and the Monetary Authority of Singapore, aims to support Asia’s economic and social growth through infrastructure development.
It will serve as a bridge for different industry players across the infrastructure ecosystem, multilateral development banks (MDBs) and the public sector, and be a one-stop platform for the information exchange and sharing of best practices in Asia.