Major ASEAN economies should be able to survive volatile market swings in 2023 following similar turmoil last year thanks to the region's strong fundamentals, according to Singapore-based United Overseas Bank (UOB).
Given Vietnam’s strong economic recovery in the third quarter, the Singapore-based United Overseas Bank (UOB) has raised its forecast for the country’s GDP growth this year to 8.2%, from the previous prediction of 7%.
The Singapore-based United Overseas Bank (UOB) has revised up Vietnam’s 2022 GDP growth forecast to 7.0% from 6.5%, assuming no further severe domestic disruptions from COVID-19, and projected growth of around 7.6 – 7.8% in the second half of the year (H2).
The Singapore-based United Overseas Bank has maintained its forecast for Vietnam’s GDP growth at 6.5 percent and core inflation rate at 3.7 percent of core inflation rate in 2022, but predicted that inflation may reach 5 percent in 2023 due to multiple risks and challenges.
The Singapore-based United Overseas Bank (UOB) has maintained its forecast for Vietnam’s GDP growth at 6.5 percent and core inflation rate at 3.7 percent of core inflation rate in 2022, but predicted that inflation may reach 5 percent in 2023 due to multiple risks and challenges.
President Nguyen Xuan Phuc on February 26 received executives of leading Singaporean firms in different areas such as finance, infrastructure and energy.
Citigroup announced on January 14 that it will sell its consumer banking businesses in Indonesia, Malaysia, Thailand and Vietnam to Singapore's United Overseas Bank (UOB), CNBC reported.
Amidst escalating US-China trade tensions, Vietnam is expected to become a major Asian destination for foreign investors thanks to its location, policies and human resources, experts have said.
Vietnam is a bright spot in foreign direct investment (FDI) attraction in Southeast Asia, said Sam Cheong Chwee, Executive Director and Head of United Overseas Bank (UOB) Group’s Foreign Direct Investment Advisory Unit at UOB.
Sixteen Malaysian small- and medium-sized enterprises (SMEs) have been selected to participate in Singapore-based The FinLab’s JOM Transform Programme, subsidised by United Overseas Bank Malaysia (UOB Malaysia).
Small- and medium-sized enterprises (SMEs) in Vietnam have made technology their top investment priority to ensure growth, according to the ASEAN SME Transformation Study.
Success of foreign banks in Vietnam has been fueling the volume of capital poured into the sector, while these banks are changing their operations to grow.
The Singapore-based United Overseas Bank (UOB) will debut in Vietnam on July 2. It is the ninth foreign wholly-owned bank and the first Singaporean bank in the country.
The United Overseas Bank (UOB) has partnered with the Foreign Trade University (FTU) in Vietnam to launch the finance industry’s first tertiary education programme designed for bankers that serve small businesses.
Up to 38 percent of Malaysian firms chose Vietnam as their favoured Asian destination for business expansion in the next 3-5 years, according to the 2016 Asian Enterprise Survey.
The United Overseas Bank Limited (UOB) has received preliminary approval from the State Bank of Vietnam to establish a foreign-owned subsidiary bank in the country.
ASEAN
