The tie-up will deepen cooperation between the banking and real estate sectors to attract foreign direct investment
[SINGAPORE] UOB Thailand and Frasers Property Industrial Thailand have signed a memorandum of understanding (MOU) on Wednesday (Jul 2) to jointly promote industrial development and support cross-border business expansion in South-east Asia, particularly in Thailand, Vietnam and Indonesia.
The companies said they will jointly identify and support foreign direct investment opportunities, particularly for firms seeking to establish or expand operations in key industrial zones in the region.
Under the MOU, Frasers Property Industrial Thailand will provide support for businesses investing in industrial space, including guidance on local policies, regulations and potential investment opportunities.
UOB Thailand will complement this by offering financial solutions, including regulatory advisory, project financing, trade facilities and treasury services.
Frasers Property Industrial Thailand currently operates over 3.48 million square metres (sq m) of industrial facilities across Thailand, housing 946 factories and warehouses nationwide. In Vietnam and Indonesia, it holds 140,000 sq m and 150,000 sq m of industrial space, respectively.
“As businesses increasingly look to South-east Asia for resilient supply chains and strategic expansion, this MOU enables us to jointly identify and support high-potential industrial developments in key markets,” said UOB Thailand’s president and chief executive officer, Richard Maloney.
“(We) hope that the partnership will unlock new investment opportunities, driving sustainable economic development and strengthening the region’s aim to be a global industrial hub,” he added.
Copyright SPH Media. All rights reserved.
