Aug 30, 2013
Singapore, August 21st 2013 - PT Bank United Overseas Indonesia (UOB Indonesia) today announced plans to double its corporate loans to companies expanding into Indonesia within the next three years.
UOB Indonesia has based its projections on the fast-growing volumes of foreign direct investments (FDI) into Indonesia and rising intra-regional trade flows. FDI inflows in Indonesia, which are growing at a compound annual growth rate of 23.1 per cent, are among the highest in Southeast Asia. The projection is also in line with the Government’s Master Plan for the Acceleration and Expansion of Indonesian Economic Development initiative which aims to transform Indonesia into one of the top five global economies by 2025.
Eric Tham, Managing Director, Group Commercial Banking, UOB Group said, “Indonesia is one of the most preferred destinations for Asian companies exploring expansion opportunities in the region. These companies see the potential they can harness from the country’s economic transformation and the development of new trade corridors, supported by increasing consumer demand from a rising middle class.”
To help more companies realise this potential, UOB Indonesia today announced it will introduce a dedicated FDI Advisory Unit in Indonesia.
The Unit will give UOB customers access to the Bank’s full suite of corporate and personal banking products and allow them to tap into its extensive network in Southeast Asia. Customers can also leverage UOB’s relationships with strategic partners in legal, audit, business consultancy and key government agencies.
Mr Tham said, “Our focus will be to partner companies from the retail and manufacturing sectors with regional expansion plans. With Indonesia’s abundant natural resources we will also provide support to these companies delivering large infrastructural and natural resources projects.”
Tomorrow, the Unit will host UOB Indonesia’s first symposium to explore the country’s growth potential and business opportunities with around 200 participants from Asia and Brazil. The symposium will include presentations from industry experts on Indonesia’s legal framework, taxation system and business culture for investors.
The symposium is organised by UOB, with support from its partners BKPM (Indonesia’s Investment Coordinating Board), Frost & Sullivan, law firm Roosdino & Partners and Accounting and Business Advisory firm RSM AAJ Associates Indonesia.
Re-disseminated by The Asian Banker