News Release - 03 Jul 2025

UOB, FMM and SMF forge alliance to drive regional investment and help businesses expand across border

Singapore, 3 July 2025 – In a significant move to bolster regional economic integration and facilitate foreign direct investment (FDI) flows, UOB has signed a tripartite Memorandum of Understanding (MoU) with the Federation of Malaysian Manufacturing (FMM) and the Singapore Manufacturing Federation (SMF). The MoU was signed today at the ASEAN Conference held in Singapore.

This strategic partnership aims to strengthen the Malaysia-Singapore manufacturing corridor by leveraging UOB’s regional network and sectoral expertise to help businesses, especially SMEs, scale across borders, access new markets, and grow sustainably. It supports the 2025 ASEAN Summit’s theme of inclusivity, of which Malaysia chaired and hosted, ensuring that businesses of all sizes can participate in and benefit from regional growth. The agreement also builds on the momentum of the Johor-Singapore Special Economic Zone (JS-SEZ) agreement between both governments.

YB Liew Chin Tong, Deputy Minister of Investment, Trade and Industry, Malaysia, said, “One of the key visions laid out for the JS-SEZ is to establish a better integrated and resilient supply chain ecosystem across the Malaysia-Singapore border. Both Johor and Singapore can leverage on our complementary capacities, join hands to drive innovation and enhance productivity. This MOU between FMM, SMF and UOB is therefore timely and propitious to align the strengths of Malaysia and Singapore for greater regional economic growth in the current global trade climate.”

Ms Ng Wei Wei, Chief Executive Officer, UOB Malaysia, said, “UOB is proud to have been an early supporter of the JS-SEZ, launching initiatives such as the Green Lane with Invest Johor and setting up dedicated SEZ Desks and introduced a fast lane account opening services. Since 2024, UOB has committed RM11.5 billion in financing to support businesses in Johor and is actively facilitating RM10 billion of FDI flows into the zone. Through this MoU, we look forward to working with FMM and SMF to help their members seize cross-border opportunities and contribute to ASEAN’s industrial growth.”

Reflecting the Bank’s long-term commitment to ASEAN’s sustainable economic growth, the MoU outlines two key objectives. The first is to promote opportunities by facilitating and exploring business opportunities and cross-border projects in the region, particularly between Singapore and Malaysia, for stakeholders and ecosystem partners. The second is to deepen collaboration by driving joint business, trade, and investment initiatives focused on strengthening the cross-border manufacturing ecosystem.

To support these efforts, UOB will provide advisory services, including tailored market entry and in-market guidance for FMM and SMF members. These services will help businesses navigate the financial and operational aspects of establishing a presence in Singapore, Malaysia, and across Southeast Asia.

Tan Sri Dato’ Soh Thian Lai, President of Federation of Malaysian Manufacturing, said, “This collaboration sets the stage for more cross-border success stories under the JS-SEZ. FMM is committed to supporting our members in leveraging this important bilateral initiative to build stronger regional connections. With the support of UOB and SMF, our manufacturers, especially SMEs, will be better equipped to pursue growth opportunities, foster innovation, and become integral players in ASEAN’s evolving industrial landscape.”

Mr Lennon Tan, President of the Singapore Manufacturing Federation, said, “ASEAN’s competitiveness rests on how quickly our manufacturers can innovate, scale and connect. Through this partnership with UOB and our Malaysian counterpart FMM centred on the Johor-Singapore Special Economic Zone, SMF will help businesses to seize cross-border opportunities, accelerate innovation, and strengthen supply chain resilience. Together we will open clearer paths to capital, talent and technology, enabling sustainable growth and keeping the Malaysia–Singapore manufacturing corridor competitive and future-ready.”