One-stop advisory unit to unlock Asia's potential
Asia's economic transformation has ushered in an unprecedented surge in cross-border trade in the region. The latest figures show that Asia has overtaken Europe and North America as the largest destination for foreign direct investment (FDI).
Asia is playing an increasingly important role in the global FDI market. Asian FDI inflows now make up 8.2 per cent of the global FDI, representing a significant jump from 2 per cent after the financial crisis in 1997. From 2009 to last year, FDI inflows into Southeast Asia grew by 227 per cent to US$107 billion, of which an estimated US$8 billion flowed into Thailand.
Thailand is a preferred FDI destination because of its favourable business climate, rapidly developing infrastructure and stable government. These factors have contributed to the country being consistently ranked as Southeast Asia's second-biggest FDI location.
Anticipating the continued rise of inbound and outbound FDI in Thailand, United Overseas Bank (Thai) set up a dedicated FDI Advisory Unit to help Thai companies expand their business in the region and foreign companies looking for investment opportunities in Thailand.
The unit gives customers access to United Overseas Bank's (UOB) full suite of corporate and personal banking products, and allows them to tap into the bank's extensive international banking network. While keeping a single point of contact, customers can also leverage UOB's international relationships with key government agencies and strategic partners in the legal, audit and consultancy fields. Customers also have the valuable insight of experienced bankers with in-depth knowledge of key industries such as manufacturing, commodities, oil and gas, electronics and technology.
"UOB is ahead of the curve in that sphere and is well-positioned to support companies in their business development outside of home countries," says Peter Foo, UOB (Thai) president and CEO. "UOB had long extended its network beyond Singapore's shores well before globalisation and regionalisation became buzz words."
