back Back

UOB and SBF to connect Singapore companies to cross-border opportunities

By Edil Corneille

February 19, 2021

  • Singapore
  • Uob
Share

UOB, sbfUnited Overseas Bank (UOB) announced that it is stepping up its efforts to help more Singapore companies seize cross-border business opportunities in the ASEAN economy. The bank today signed a Strategic Partnership Agreement with the Singapore Business Federation (SBF) to be the chosen financial partner of the GlobalConnect@SBF Strategic Partnerships initiative.

The collaboration combines the strengths of UOB and SBF in connecting Singapore businesses, including more than 27,000 SBF members, to opportunities opening up across ASEAN, especially in Indonesia, Thailand and Vietnam. Trade agreements, such as the Regional Comprehensive Economic Partnership, are also expected to boost the region’s growth.

Wee Ee Cheong, Deputy Chairman and Chief Executive Officer, UOB said, “Having weathered the worst of the COVID-19 pandemic, companies are now looking for growth and expansion opportunities. One of the most compelling opportunities is where UOB has strongest presence – ASEAN, with its fast-growing economy and vast potential. At UOB, we have long recognised the region’s long-term strengths and uniqueness with its diverse economic landscape. Our Foreign Direct Investment (FDI) Advisory Unit, set up in 2011, has helped more than 3,500 companies expand their operations across the region. Now, through the collective efforts with SBF, we will be able to help build a connected and dynamic business sector that will see more companies thrive and grow.”

Darius Lim, Assistant Chief Executive Officer of SBF, said, “UOB’s extensive network and strong presence in ASEAN will complement our GlobalConnect@SBF initiative to facilitate Singapore businesses making in-roads into the region. With the support of a renowned and trusted Singapore bank, businesses will be able to better navigate the business landscape in the respective markets, develop local networks, and access greater trade and investment opportunities.”

UOB’s FDI Advisory Unit helps companies with their market entry by providing deep in-market insights and access to the bank’s partner ecosystem comprising regional government agencies, trade and business associations.

Through UOB’s FDI Centres located across the region and SBF’s Singapore Enterprise Centres, companies will benefit from the on-ground assistance provided by both organisations. UOB will also provide financial support and help businesses in their digitalisation journey, accelerating their adoption of technology by providing its comprehensive suite of digital solutions.

A company that UOB has supported in its overseas expansion is Dou Yee Group. Dou Yee is tapping UOB’s deep market knowledge and customised financial solutions to expand its manufacturing operations in Vietnam. UOB will continue to offer Dou Yee its support by connecting the company to potential buyers, suppliers and distributors along its value chain and to opportunities arising from ASEAN’s sustainability drive.

Previous Article

February 19, 2021

Klarna enters cryptocurrency market with Safello’s partnership

Read More
Next Article

February 19, 2021

Top 3 Financial Technology companies in Russia

Read More








IBSi Daily News Analysis

South East Asia

February 28, 2024

Singapore

FinTech penetration in Southeast Asia will double by 2027, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

NPCI International & Eurobank team to offer Foreign Inward Remittances

Read More

Today

Enfuce receives e-money licence to boost UK expansion

Read More

Today

Mintos debuts multi-asset investment platform in Italy and Spain

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023