ZTE Corporation, a global ICT firm has signed a Memorandum of Understanding (MoU) with CIMB Bank Berhad (CIMB) to establish a framework to support digital infrastructure development across ASEAN particularly 5G networks, ZTE says in a press statement yesterday. The partnership leverages ZTE’s telecommunications capabilities and CIMB’s leadership in financing and banking solutions to explore opportunities that support the deployment of ZTE’s digital infrastructure projects, particularly 5G networks across ASEAN, including Indonesia, Singapore, Thailand and Cambodia, with further regional expansion over time.
The partnership aims to build a holistic ecosystem across ASEAN, bringing together operators, government agencies, regulators and investors to drive the region’s digital transformation in line with regional frameworks such as the ASEAN Digital Economy Framework Agreement (DEFA). Anticipated collaborations include infrastructure financing, regional network expansion, cross-border liquidity management as well as accelerating the rollout of high-speed connectivity particularly in underserved and rural areas.
ZTE and CIMB have previously collaborated in Malaysia’s 5G rollout.
The MoU was signed in Kuala Lumpur by Kevin Xiao of ZTE and Freddy Ong of CIMB, and witnessed by Steven Ge of ZTE and Denise Wong of CIMB.
Steven Ge, Vice President of ZTE and Managing Director of ZTE Malaysia, said: “This partnership reflects a shared commitment to advancing ASEAN’s digital infrastructure and accelerating the deployment of 5G networks. By combining ZTE’s technology leadership with CIMB’s strong regional financial platform, we are well-positioned to support the region’s digital transformation journey.”
Chu Kok Wei, Chief Executive Officer of Group Wholesale Banking, CIMB, said: “As demand for next-generation connectivity and digital infrastructure accelerates across ASEAN, this collaboration positions CIMB to support ZTE’s regional expansion through integrated financing and banking solutions. Leveraging on CIMB’s ASEAN presence, we aim to enable efficient execution while strengthening client relationships through a broader suite of capabilities.”