Singapore is a land of opportunity, as well as a safe and pleasant place to live. If you’re interested in Singapore news, you’ll be pleased to know that the Industrial and Commercial Bank of China is working to help Singapore firms take advantage of the One Belt, One Road initiative, which is situated within China. ICBC (Industrial and Commercial Bank of China) is partnering with International Enterprise (IE) in order to help Singapore companies participate in One Belt, One Road business ventures.
What Is One Belt, One Road
With One Belt, One Road, more infrastructure is being added in order to facilitate business transactions in China. It’s a huge initiative and provides a lot of opportunities to businessmen and women from other countries, including Singapore. This is why this new partnership is such a viable way to help Singaporean entrepreneurs make the most of their dealings with China, as they relate to One Belt, One Road.
Assistance will take the form of project loans and relevant services. It’s all about helping Singapore entrepreneurs to get their pieces of the OBOR pie! Singapore has always looked for new ways to improve their trade agreements and their economy, and this program is just another step forward in the right direction. It’s easy to see why Singapore is able to have so much success on the international scene when you look at these kinds of intelligent initiatives.
To date, ICBC and IE have signed off on a MoU (Memorandum of Understanding). This MoU is expect to open up ninety billion dollars in credit for One Belt, One Road projects which are already being set in motion. As well, when this initiative was announced, there was a secondary announcement, which stipulated that ICBC will spearhead a new shipping finance building within Singapore. This centre is the place where shipping loans will be secured.
As you can see, SIngapore is gearing up to play an integral role in the OBOR initiative. As well, progressive leadership is Singapore exists in plenty of other areas. For example, tech start-ups are receiving unprecedented support from the Singaporean government. This will only bode well for an economy that is already booming. Singapore focusing on their tech industry is going to make major waves in the future, especially if they’re able to create their own version of Silicon Valley.
In the future, more details about the new agreement between ICBC and IE may come to light. For now, we’ve covered all available facts. If you need financing in order to move forward with a OBOR project which is already off the ground, contacting ICBC will be a smart strategy. It’s possible that your project may qualify for funding. While there will likely be a lot of red tape in terms of who is eligible. the team at ICBC and IE will surely do all that they can to help people access this vital funding. New business for Singapore will be great for the country as a whole.