Expand into ASEAN with UOB

The #ASEAN region is a growing market and will play an increasingly important role in the global economy in the years ahead. ASEAN's markets are now more diversified, drawing more foreign direct investment (FDI) each year. In 2019, foreign direct investments into ASEAN grew by 5 per cent to a record level of US$156 billion.

The ASEAN region offers investors exciting opportunities.

Source: Macrobond, #UOB Global Economics and Markets Research, ADB Institute*

This reflects ASEAN's strong growth opportunities and its attractiveness. By 2030, the region's economy is expected to double to US$6.6 trillion from US$3 trillion in 2018. The young and growing middle class in its population of more than 650 million people is one of the world's fastest-growing consumer bases. Sixty per cent of them are under 35 years of age. ASEAN's fundamentals remain sound and strong.

*Note: 2030 forecasts for trade and FDI assume annual growth at half the growth pace in the last 20 years; Middle Income = daily expenditure of US$10 to US$100

United Overseas Bank Limited (UOB)

Since incorporation in 1935, UOB's global footprint has expanded through both organic growth and through a series of strategic acquisitions. Today, UOB has an unrivalled presence in Southeast Asia backed by a global network of more than 500 offices.

Having a diverse regional franchise enables us to serve customers ranging from consumers to large multinational corporates and to address the cross-border needs of companies doing business in this region.

UOB's established regional network includes wholly-owned banking subsidiaries in the key markets.

• United Overseas Bank (China) Limited;

• PT Bank UOB Indonesia;

• United Overseas Bank (Malaysia) Bhd;

• United Overseas Bank (Thai) Public Company Limited; and

• United Overseas Bank (Vietnam) Limited

Our banking services are complemented by a suite of related products and services provided through our financial services subsidiaries.

UOB's awards and accolades across the region

• World's Best Bank for SMEs 2021

• Asia's Best Bank for SMEs 2021

• Best Retail Bank in Singapore 2021

• Best SME Bank in Singapore and Asia Pacific 2021

• Domestic Retail Bank of the Year, Singapore 2021

• International Retail Bank of the Year, Malaysia and Thailand 2021

• Best Digital Bank, TMRW Thailand and Indonesia 2021

If you would like to apply for a corporate account with UOB, send an email to info@rbcs.com.hk

Hong Kong-Thailand Cooperation Creates Synergies | New Opportunities in Thailand

#Thailand as one of Hong Kong’s main trading partners, it is actively introducing foreign funding for economic recovery, bringing opportunities for Hong Kong businessmen to expand #ASEAN.

Tull Traisorat, Consul General of the Kingdom of Thailand in Hong Kong, said that the new crown epidemic has highlighted the importance of technology and innovation to economic recovery and sustainable development in the post-epidemic new normal. It just so happens that the Thai government is promoting the development of the #EEC project to build eastern Thailand into a center of technology and innovation to drive Thailand's economic development. At the same time, the Thai government this year formulated the "Bio-Circular-Green" (BCG) national development strategy to integrate technology and innovation into key industries such as agriculture, food, medicine, bio-energy, and tourism to help promote the economy. Continuous development.

Traisorat emphasized that Thailand and Hong Kong have similar roles in the economy. They are springboards to ASEAN and Mainland China respectively. Therefore, they encourage companies from the two places to strengthen cooperation, especially in the fields of innovation and creative technology, to achieve synergy.

Dr. Luxmon Attapich, Deputy Secretary-General of the Office of the Eastern Economic Corridor of Thailand, introduced the development of Thailand’s EEC and focused on the land, sea and air infrastructure under construction, including the high-speed rail linking the three airports, U-tapao Aviation City, and Laem Chabang Port Phase III Plans, and the third phase of the Map Ta Phut Port. She said that in order to cope with the development of EEC technology and innovation, the Thai government also attaches great importance to digital infrastructure, including EEC has completed 5G network construction and comprehensive signal coverage, and encourages companies to invest in the three major areas of digital applications, health and logistics, covering digital 12 target industries including technology, automation and robotics, aviation and logistics, future food, and healthcare. Dr. Attapich continued that the Thai government provides preferential policies to attract SMEs to set up factories in EEC, including training support and subsidies, to help upgrade and transform into a "Thailand 4.0" smart factory, and to establish a complete ecosystem for start-ups to develop in EEC. She also mentioned that the Thai government is promoting a green economy policy and has set a goal of reducing carbon emissions by 20% to 25% by 2030.

Dr. Luxmon Attapich, Deputy Secretary-General of the Office of the Eastern Economic Corridor of Thailand, introduced the development of Thailand’s EEC and focused on the land, sea and air infrastructure under construction, including the high-speed rail linking the three airports, U-tapao Aviation City, and Laem Chabang Port Phase III Plans, and the third phase of the Map Ta Phut Port. She said that in order to cope with the development of EEC technology and innovation, the Thai government also attaches great importance to digital infrastructure, including EEC has completed 5G network construction and comprehensive signal coverage, and encourages companies to invest in the three major areas of digital applications, health and logistics, covering digital 12 target industries including technology, automation and robotics, aviation and logistics, future food, and healthcare. Dr. Attapich continued that the Thai government provides preferential policies to attract SMEs to set up factories in EEC, including training support and subsidies, to help upgrade and transform into a "Thailand 4.0" smart factory, and to establish a complete ecosystem for start-ups to develop in EEC. She also mentioned that the Thai government is promoting a green economy policy and has set a goal of reducing carbon emissions by 20% to 25% by 2030.

#YungKeeRestaurant has always been patronized by many Thai tourists, among which the roast goose is very popular among tourists. Director Mr. Kam learned that food is a key development project of the Thai government and expressed interest in further understanding the feasibility of exporting #RoastedGoose to Thailand.

Mr. Ng of Health Food Company #Allklear mentioned that their flagship product is a new generation of green food and is interested in promoting the product to Thailand.

Mr. Chiang of #AuroraTeleOncology pointed out that his sister company has set up an office in Thailand and is interested in finding a partner in Thailand.

If you plan to enter Thailand, welcome to find #RBCS to help setting-up your #ThailandOffice.