UOB has entered into five Memorandums of Understanding (MOUs) with government agencies and industry players in ASEAN and Greater China. These agreements are aimed at enhancing regional economic integration and boosting foreign direct investment (FDI) flows.
The partnerships include an MOU between UOB and Enterprise Singapore to encourage collaborations between Singapore enterprises and foreign companies expanding into Southeast Asia, particularly in sectors like manufacturing, the green economy, and the digital economy. UOB will facilitate these collaborations through networking sessions in markets such as Germany, Japan, and China.
Since 2024, UOB has committed RM11.5 billion to support businesses in Johor and is facilitating RM10 billion of FDI flows into the Special Economic Zone (SEZ). The bank has also signed a tripartite MOU with the Federation of Malaysian Manufacturing (FMM) and Singapore Manufacturing Federation (SMF) to promote business opportunities across Southeast Asia.
Yang Berhormat Tuan Liew Chin Tong, Malaysia's Deputy Minister of Investment, Trade and Industry, stated that this collaboration aligns with the vision for a resilient supply chain ecosystem across the Malaysia-Singapore border.
Ms Eunice Koh from Enterprise Singapore highlighted emerging opportunities for enterprises to collaborate with foreign companies in Southeast Asia. Mr Wee Ee Cheong of UOB emphasized ASEAN's attractiveness for businesses despite global tensions.
UOB Hong Kong signed an MOU with the Hong Kong Trade Development Council (HKTDC), marking HKTDC's first agreement with a Singapore-based bank. This partnership aims to enhance connectivity, promote trade, and foster inclusive development across regions including Hong Kong and ASEAN.
Another MOU was signed with ZGC International where UOB China will offer financial solutions to support companies' overseas expansion plans. The agreement aims to strengthen supply chain resilience and promote sustainable growth by leveraging UOB’s expertise in ASEAN.
UOB also partnered with J-Will Corporation Ltd and Hildrics Capital to develop business opportunities for Japanese companies entering ASEAN markets.
These MOUs reflect UOB's commitment to driving sustainable growth across the region amidst a complex geopolitical landscape.
Ms Adaline Zheng of UOB Hong Kong expressed strong commitment towards regional growth through this partnership. Ms Vivienne Chee from HKTDC highlighted their shared vision of fostering inclusive economic growth.
Tan Sri Dato’ Soh Thian Lai from FMM emphasized support for manufacturers leveraging bilateral initiatives. Mr Lennon Tan from SMF discussed enhancing competitiveness through innovation within ASEAN’s industrial landscape.