In a significant move to bolster regional economic integration and facilitate foreign direct investment ( FDI ) flows, Singaporean lender UOB has signed five memorandums of understanding ( MoUs ) with government agencies and leading industry players in the Association of Southeast Asian Nations ( Asean ) region and Greater China.

These MoUs, the bank states, aim to create strategic partnerships to unlock new cross-border investment opportunities, enhance collaboration across key sectors and pave the way for more FDI flows into this region.

These partnerships are:

• Between the bank and Enterprise Singapore aimed at encouraging partnerships between Singapore enterprises and foreign companies seeking to expand in the Asean region
• Among the bank, the Federation of Malaysian Manufacturing and the Singapore Manufacturing Federation aimed at facilitating business opportunities in the region
• Between UOB Hong Kong and Hong Kong Trade Development Council aimed at establishing a framework of cooperation to strengthen regional ties and promote sustainable growth
• Between UOB China and ZGC International where UOB China will provide complementary financial services and empower cross-border development of companies in ZGC industrial parks
• Among UOB, J-Will Corporation and Hildrics Capital aimed at jointly developing business opportunities and support Japanese companies entering the Asean market.

These MoUs, the bank notes, “signify its commitment to the region as it continues to contribute to the region’s economic growth in a sustainable manner”.