Saturday 13 Apr 2024
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KUALA LUMPUR (July 28): Gobi Partners, a local-based venture capital firm with US$1.6 billion (RM7.29 billion) in assets under management, joins hands with the Hong Kong and Shanghai Banking Corporation (HSBC) to support the innovation economy between Hong Kong and Asean.

The partnership was established through a memorandum of understanding (MOU) signed on Friday (July 28) by Luanne Lim, the chief executive officer of HSBC Hong Kong, and Thomas Tsao, a co-founder and the chairperson of Gobi Partners, at a luncheon hosted by the Hong Kong Special Administrative Region government for the Malaysian business community here.

Under the MOU, both companies will explore further opportunities to drive business and financial connectivity between the Greater Bay Area in China and Asean, and the various potential of “TaqwaTech”, which are start-ups that build products to serve a larger Muslim community.

Both companies also aim to drive sustainable innovation and investment aligned to the United Nations Sustainable Development Goals, and support the growth and empowerment of diverse entrepreneurs.

HSBC's Lim said both companies share a common vision of helping innovative businesses to unlock their potential to create more jobs and access to new opportunities globally.

“The MOU signals our commitments to supporting Hong Kong and Asean businesses at all stages, to boost their growth, and help them compete on the global stage."

Gobi’s Tsao said the signing of the MOU with HSBC marks a significant milestone to further solidify the collaboration between the two companies."Together, we are poised to make an impact in shaping the future of the region’s entrepreneurial landscape."

Recognising the role that technology and digital education play in promoting gender equality, HSBC and Gobi Partners jointly hosted an event for female entrepreneurs and investors in March as part of their International Women’s Day celebration.

For context, Asean is the largest digitally enabled population in the world, with its e-commerce industry forecast to grow to US$88 billion by 2025, according to HSBC.

According to a survey jointly conducted by Google, Temasek and Bain & Company, Southeast Asia’s digital economy is expected to reach US$330 billion by 2025.

Edited ByKwang Zhe Kuek Ser
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