OCBC Partners With Australia to Boost Southeast Asia Trade and Investment
OCBC and the Australian High Commission in Singapore have signed a five-year strategic partnership aimed at strengthening trade and investment flows between Australia and Southeast Asia, with OCBC targeting more than a doubling of such flows by 2030.
The collaboration supports Australia’s «Invested: Australia’s Southeast Asia Economic Strategy to 2040» initiative and will focus on sectors including energy transition, infrastructure, green transportation, fintech and digital innovation.
The partnership brings together OCBC’s regional banking network and financing capabilities with the Australian government’s policy expertise. It also involves cooperation with the Department of Foreign Affairs and Trade, Export Finance Australia and the Australian Trade and Investment Commission to connect Australian companies with opportunities across Southeast Asia.
OCBC, which marks 40 years of operations in Australia this year, said its Sydney branch has seen strong growth in recent years, driven by sectors such as real estate, energy, utilities and digital infrastructure.
«This strategic collaboration aims to create a powerful platform for Australian companies and investors to expand into Southeast Asia, where there are growing opportunities for energy transition, infrastructure development and green transportation,» said Elaine Lam, Head of Global Corporate Banking at OCBC.
Among the Australian companies supported by OCBC are Lendlease and Qantas. The bank recently backed Qantas’ fleet renewal financing programme and supported several Lendlease developments in Singapore, Sydney and Kuala Lumpur.
