# BOI and UOB Sign MOU to Support New Investments into Thailand and Across the Region

- Link: https://www.thailand-business-news.com/banking/127345-boi-and-uob-sign-mou-to-support-new-investments-into-thailand-and-across-the-region
- Published: 2024-02-23T05:10:00+07:00
- Author: SiamNews PR

The **Thailand Board of Investment (BOI)** and **UOB Thailand** have recently signed
a **Memorandum of Understanding (MOU)**, solidifying their commitment to promote
business cooperation and facilitate new investment opportunities into Thailand across
UOB’s key markets.

The Thailand Board of Investment (BOI) and UOB Thailand have signed a Memorandum
of Understanding (MOU) to promote new investment opportunities in Thailand and across
UOB’s key markets. The partnership aims to facilitate foreign direct investment 
into Thailand and support Thai companies in expanding overseas.

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## Key Takeaways

 * The MOU between BOI and UOB Thailand aims to promote new investment opportunities
   in Thailand and across UOB key markets, fostering greater economy and industrial
   linkage.
 * UOB’s Foreign Direct Investment (FDI) Advisory unit has supported over 4,200 
   foreign companies with cross-border expansion and enabled more than US$1.6 billion
   of projected foreign direct investments into Thailand since 2019.
 * Thailand remains an appealing destination for Foreign Direct Investment (FDI)
   due to its developed industrial infrastructures, supply chains, and long-term
   growth potential, with Singapore, Vietnam, and Malaysia being top destinations
   for Thai companies’ expansion.

The collaboration will leverage UOB’s financial solutions and regional networks 
to connect businesses with government agencies and professional service providers
across Asia. Thailand remains an attractive destination for foreign direct investment,
and the collaboration between BOI and UOB is expected to accelerate the country’s
transition to the “New Economy” and facilitate rapid growth in FDIs across the region.

UOB’s Foreign Direct Investment Advisory unit has played a significant role in supporting
cross-border expansion, helping foreign companies and Thai companies to venture 
abroad. The MOU also highlights the intention to establish new overseas offices 
in Singapore and Saudi Arabia to increase outreach capabilities.

## Strengthening Business Ties

The MOU signifies a significant step in fostering foreign direct investment (FDI)
into Thailand. By leveraging UOB’s expertise as one of Asia’s leading banks, the
BOI aims to encourage more companies to invest in Thailand while also supporting
Thai businesses in expanding overseas. This partnership extends beyond mere incentives;
it positions the BOI as an integrator, facilitator, and connector for investors.

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> According to UOB Business Outlook Study 2023, 83 percent of businesses in this
> region are keen to expand overseas, and this desire is most pronounced in Indonesian,
> Chinese, Thai and Vietnamese companies. Thai businesses specifically have set 
> their sights on Singapore, Vietnam, Malaysia, mainland China to expand investment.
> [○ BOI : The Board of Investment of Thailand](https://www.boi.go.th/index.php?page=press_releases_detail&topic_id=134902)

## Collaborative Efforts

Under the MOU, UOB’s Foreign Direct Investment Advisory Unit (FDI Advisory Unit)
in Bangkok will work closely with the BOI. Together, they will assist businesses
seeking to invest in Thailand and the broader region. Thai and foreign companies
can benefit from UOB’s tailored financial solutions and tap into the bank’s extensive
regional networks. These connections will help them engage with government agencies,
trade associations, and professional service providers across Asia.

## Promoting New Investment Opportunities

UOB will also explore potential collaborations with the BOI in investment promotion
activities. These may include business matching fairs, trade exhibitions, and seminars
aimed at attracting new investments into Thailand. As one of ASEAN’s largest economies,
Thailand continues to attract significant Foreign Direct Investment (FDI), with 
major sources coming from Greater China and Singapore.

Since its establishment in 2011, UOB’s Foreign Direct Investment (FDI) Advisory 
unit has assisted over 4,200 foreign companies in their cross-border expansion. 
UOB FDI has facilitated the expansion of over 370 companies into Thailand, resulting
in more than US$1.6 billion of projected foreign direct investments and over 18,000
job opportunities in Thailand since 2019. Additionally, the bank has aided over 
210 Thai companies in expanding across ASEAN, with Singapore, Malaysia, and Vietnam
being the top destinations for investment.