wmi is not resting on its laurels. earlier this morning, wmi announced that they will be embarking on two new flagship programmes – the changemaker impact endeavour fellowship programme to support asia's philanthropists bringing about effective change and impact, and a new dalio investment principles programme to build stronger portfolio management capabilities among family offices principals and investment teams. two good new initiatives. these programmes will complement wmi's existing suite of training programmes for family office principals and professionals, and take our family office ecosystem to greater heights. i want to thank ms foo mee har and her team at wmi for their good job and for playing this important role to grow the wealth management sector from strength to strength. conclusion ladies and gentlemen, let me conclude the speech by reiterating that singapore will continue to enhance our ecosystem of service offerings, underpinned by trust, strong regulation and supportive government policies. this is a place that you can put your money for investments for the long - term and be assured of the stability and trust here. my colleagues and i are confident that the sector has much potential to grow further in the years ahead, and we want to work together with all of you to contribute more opportunities for singapore and create more good jobs for singaporeans. we also want to help you, in the process of investing here and setting up your family office, to do well and do good, to achieve the impact and legacy that you want for your families. thank you for being here today, and i hope that the summit will bring you insightful learnings, foster meaningful connections, and facilitate greater positive impact for singapore and the region. thank you very much. 5 / 5 bis - central bankers'speeches

letter of intent for closer cooperation in capital markets. 14. next month, singapore and vietnam will sign the framework agreement on connectivity, which will help us leverage on each other's strengths and complementarities. areas of cooperation include finance, ict ( information and communications technologies ), investments, trade and services, transport and education. singapore is the second largest foreign investor in vietnam, after taiwan but ahead of japan. the connectivity agreement will further open up opportunities for singapore firms in vietnam. seizing the opportunities 15. governments in asia see the benefits of economic cooperation and are building closer links, both on a multilateral as well as bilateral basis. this will enable the private sector to take full advantage of the rich array of opportunities. i strongly encourage singapore - based companies and financial institutions to ride the growth momentum. 16. let me highlight a few such opportunities. as capital restrictions are gradually liberalised in their countries, chinese and indian individuals, financial institutions and corporates will begin to invest overseas. singapore - based financial institutions could partner them to use singapore as a base to expand into the region. 17. the comprehensive economic cooperation agreement ( ceca ) is a win - win outcome for singapore and india. singapore can offer a platform for indian firms to build up their global exposure and branding. india is also a promising investment destination for singapore firms. under ceca, our domestic banks are allowed to open up to 15 branches in india, and they are in the process of preparing for expansion into this market. to deepen the linkage, mas will allow indian banks that meet our prudential standards to expand their presence in singapore. we have approved the entry of two indian banks which do not yet have a presence in singapore. 18. the japan - singapore economic agreement for a new age partnership ( jsepa ) has brought a new era of closer economic cooperation. investments by japan and singapore in each other s markets have increased. japanese companies which are looking to diversify some of their business operations into southeast asia can use singapore as the gateway. singapore - based companies can take advantage of not just the jsepa but bilateral free trade agreements ( ftas ) singapore has signed with other countries to expand into the region and beyond. when i was in tokyo, i suggested that the jsepa should be reviewed to see where it could be further broadened and deepened. the japanese leaders were receptive. 19. the middle east is another promising region. middle eastern investors are looking for suitable investment destinations