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Wednesday, July 24, 2024

UOB facilitates Singaporean firms’ investment in Vietnam

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HCMC – Singapore’s United Overseas Bank Limited (UOB) is stepping up efforts to help more companies in Singapore seize cross-border business opportunities in the ASEAN, especially in Indonesia, Thailand and Vietnam.

The bank on February 22 signed a strategic partnership agreement with the Singapore Business Federation (SBF) to be the chosen financial partner of the GlobalConnect@SBF Strategic Partnerships initiative.

The collaboration combines the strengths of UOB and SBF in connecting Singapore businesses, including more than 27,000 SBF members, to opportunities opening up across the ASEAN.

Wee Ee Cheong, deputy chairman and chief executive officer of UOB, said, “Having weathered the worst of the Covid-19 pandemic, companies are now looking for growth and expansion opportunities. One of the most compelling opportunities is where UOB has the strongest presence – ASEAN – with its fast-growing economy and vast potential.

UOB has long recognized the region’s long-term strengths and uniqueness with its diverse economic landscape.

A company that UOB has supported in its overseas expansion is the Dou Yee Group, a Singapore-headquartered manufacturing firm with a presence in 26 markets, including Vietnam. Dou Yee is tapping UOB’s deep market knowledge and customized financial solutions to expand its manufacturing operations in Vietnam.

UOB will continue to offer Dou Yee its support by connecting the company to potential buyers, suppliers and distributors along its value chain and to opportunities arising from ASEAN’s sustainability drive.

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