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Malaysia, Singapore in agreement to improve business development fund financing

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Both countries’ enterprises will be able to jointly pursue opportunities in third countries.

Malaysia and Singapore signed a “side letter” to improve the provisions of the Malaysia-Singapore Business Development Fund agreement for third countries, says Tengku Zafrul.

Tengku Zafrul said the signing of the letter was done together with Singapore’s trade and industry minister Gan Kim Yong, and witnessed by the prime ministers of both countries Anwar Ibrahim and Lee Hsien Loong. “In addition, it will also encourage the private sector from both countries to explore wider market opportunities in industries related to the digital economy and the green economy,” he added.

“Additionally, it will encourage entrepreneurship development and promote reciprocal business exchanges between the two nations, underpinning a foundation of shared benefits and mutual reciprocity,” it said.

 

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