The bank has signed a strategic partnership agreement with Singapore Business Federation to connect Singapore businesses to opportunities across Asean, especially in Indonesia, Thailand and Vietnam.
UOB will help more Singapore companies seize cross-border business opportunities as the financial partner of GlobalConnect@SBF strategic partnerships initiative, the bank announced in a statement on Friday.
Under the agreement, both organizations will share information and resources with Singapore companies, including SBF's 27,000 members, and provide on-ground assistance. UOB will also provide financial support and help the businesses in their digitalization journey.
Growth Opportunities
The bank noted that its extensive network and strong presence in Asean will complement the initiative to facilitate Singapore businesses making in-roads into the region, and emphasized the region's $3 trillion economy and growth prospects.
«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,» Wee Ee Cheong, UOB deputy chairman and CEO, said.
