HCMC – United Overseas Bank (UOB) is expected to soon break ground on its new headquarters at Vietnam’s international financial center in HCMC, marking the first foreign bank to establish a presence at the complex.
The plan was confirmed during a working session in Singapore between Vietnam’s Permanent Deputy Prime Minister Nguyen Hoa Binh and Wee Ee Cheong, UOB’s deputy chairman and chief executive officer, along with the bank’s senior leadership.
UOB said it plans to raise its charter capital in Vietnam to VND10 trillion and is preparing to develop UOB Plaza at the financial center. The move reflects the bank’s long-term commitment and confidence in Vietnam’s economic prospects and its increasingly stable investment and financial environment.
According to UOB, the capital increase will strengthen its financial capacity, expand operations and improve its ability to provide high-quality services to corporate and retail clients. Priority areas include trade finance, corporate banking, capital markets, and sustainable finance.
Wee said Vietnam remains UOB’s strategic market in Southeast Asia. The bank is ready to engage more deeply in the development of Vietnam’s international financial center, not only as a capital provider but also as a partner in sharing expertise in bank governance, risk management, capital market development and cross-border capital connectivity.
Nguyen Hoa Binh welcomed UOB’s contributions in Vietnam and urged the bank to continue acting as a financial bridge between Vietnam, Singapore and the wider region. He also encouraged UOB to participate more actively in key areas of the financial center, including green finance, sustainable finance, and services for international investors.
The deputy prime minister reaffirmed the Government’s commitment to building a stable and transparent legal environment to facilitate long-term investment by international financial institutions.
