Oct 09, 2013
Singapore, September 25th 2013 - United Overseas Bank Vietnam (UOB Vietnam) today announced the launch of its dedicated FDI Advisory Unit.
The FDI Advisory Unit will give UOB customers expanding in and out of Vietnam access to the Bank’s full suite of corporate and personal banking products and enable them to tap into its extensive banking network in Asia. Customers can also benefit from UOB’s relationships with strategic partners in legal, audit, business consultancy and key government agencies.
Mr Thng Tien Tat, Executive Director, UOB Vietnam said, “Vietnam has prospered from steady economic growth over the last decade and we have seen many of our customers develop from small businesses to companies that are ready to spread their wings to the rest of Asia.”
From the first half of 2012 to the first half of 2013, UOB’s business flows between Vietnam and Asia increased 20 per cent. From 2010 to 2012, trade between Vietnam and Asia grew by 46.7 per cent to US$150.4 billion.
Mr Thng said, “Our customers tell us it is time to expand their businesses beyond Vietnam to take advantage of Asia’s transformation from a collection of third world countries to a region of thriving economic growth. Companies from the manufacturing, trading and oil and gas industries are taking the lead in Vietnam’s expansion into the region.”
Mr Ly Anh Dung, President of Greenfeed Vietnam Corporation and Quang Dung Company Limited, said, “Through UOB’s regional network, we have obtained support from the UOB FDI Advisory Unit team which assisted our company to expand our business presence in Singapore. We continue to seek business expansion in the region with UOB as our partnership bank.”
Today, the Unit will host UOB Vietnam’s first symposium for close to 150 clients to explore Asia’s growth potential and business opportunities. The symposium is organised by UOB, with the support of Investment Promotion Centre of South Vietnam, Vietnam Chamber of Commerce and Industry, International Enterprise (IE) Singapore, RSM Chio Lim and PBC Partners.
Ms Edlyn Khoo, Centre Director for Ho Chi Minh City, IE Singapore, who will be speaking at the symposium, said, “Singapore companies can bring relevant global experience and connections to Vietnamese firms planning their next stage of growth. Partnerships in the financial sector were a key area highlighted at the recent bilateral Strategic Partnership agreement, and we are glad to see the private sector such as UOB responding positively. The setting up of the UOB FDI Advisory Unit is an additional tool that helps facilitate trade and investments between companies from both countries.”
Re-disseminated by The Asian Banker