United Overseas Bank (UOB) has set an ambitious target to help create one million jobs through its Foreign Direct Investment (FDI) advisory unit, which has been assisting companies in expanding their operations across Asia since 2011. The unit, a one-stop shop for companies entering new markets, has already supported over 4,500 firms, contributing to the creation of approximately 200,000 jobs since 2020.
The FDI advisory unit, led by Sam Cheong, operates in 10 countries across Asia, including Singapore, Malaysia, Indonesia, and China. It provides market-entry support and insights, helping businesses navigate complex issues such as legal systems, tax policies, and local talent availability.
Cheong emphasised that UOB is focused on creating meaningful jobs that align with the needs of the countries where businesses are expanding. The bank collaborates with government agencies and human resource companies to ensure that companies can design effective talent strategies for their overseas operations.
UOB’s advisory unit also leverages the bank’s extensive network and 90-year history in the region to connect businesses with local partners and resources. The bank’s unique position as a trusted advisor, rather than a broker, allows companies to access comprehensive support under one roof.
The FDI advisory unit’s ultimate goal is to connect global businesses with opportunities in ASEAN, a region that recorded $226 billion in FDI inflows in 2023. UOB aims to be the key connector in bringing more companies to Southeast Asia, capitalising on the region’s growing share of global investment flows.
