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| UOB Vietnam and VSIP executives sign an MoU to facilitate foreign investment in Việt Nam. — VNS Photo |
Viet Nam News
HCM CITY – United Overseas Bank Vietnam Ltd on Thursday signed a memorandum of understanding with the Việt Nam – Singapore Industrial Park (VSIP) to encourage and facilitate foreign direct investment in Việt Nam.
The Singaporean lender had launched its Vietnamese subsidiary only this week.
With this collaboration, UOB and VSIP are committed to organising business seminars together to help companies explore business and investment opportunities in Việt Nam.
The bank on Thursday invited more than 40 business leaders from across Asia to visit the VSIP in Bình Dương Province.
It connected them with strategic business partners and key government agencies in the local business eco-system, including the Foreign Investment Agency, to help them navigate the requirements when doing business in Việt Nam.
The tie-up with VSIP complements UOB’s other partnerships to accelerate cross-border trade and investments in Việt Nam as well as in other ASEAN markets.
UOB is the first Singapore bank to open a foreign-owned subsidiary in Việt Nam.
UOB has a global network of more than 500 branches in 19 countries and territories in the Asia Pacific, Europe and North America.
It first came to Việt Nam in 1993 with the opening of a representative office, and in 1995 became the first Singaporean bank to open a branch in the country. — VNS
