UOB to facilitate $3.3b pipeline of investments in Vietnam

This is expected to create 13,000 jobs in the country.

UOB is set to facilitate a pipeline of about $3.3b (US$2.4b) potential investments in Vietnam for the next three years, which in turn is expected to create 13,000 jobs in the country.

The investments will be directed to companies in the manufacturing, technology, and consumer goods sectors.

UOB has reportedly helped more than 200 companies from countries such as Singapore, Malaysia, and China to invest in Vietnam since signing a memorandum of understanding with Vietnam’s Foreign Investment Agency in April 2015. 

These companies, from sectors that include consumer goods, industrials, as well as construction and infrastructure, are estimated to invest more than $4.6b (US$3.4b) and create more than 20,000 jobs in Vietnam, UOB said.

For their work in facilitating foreign direct investment flows into Vietnam, UOB recently received a certificate of merit from Vietnam’s Ministry of Planning and Investment at a meeting with Vietnam president Nguyen Xuan Phuc and other senior government officials. UOB is the first Singapore bank to receive the award.

(US$1 = $1.36)