UOB's Gateway to ASEAN Conference: Uncovering Economic Potential in Vietnam
South China Morning Post Explores Economic Trends
The recent global economic recovery has been steady but challenging. Despite this, the near-term outlook for the ASEAN region remains positive – and one bright spot is Vietnam, with projected growth of nearly 6 per cent this year driven by a recovering export sector, robust foreign direct investment (FDI) and policy support, according to the International Monetary Fund.
UOB's Commitment and Investments
As the commercial hub of one of the fastest-growing economies in Southeast Asia, Ho Chi Minh City took centre stage for the third annual UOB Gateway to ASEAN Conference in September. Hosted by UOB, one of Asia’s top banks, the event was held for the first time in Vietnam, allowing top executives to share insights and exchange ideas.
Technological Advancements and Sustainability
UOB's deputy chairman and CEO highlighted the bank's commitment to supporting over 170 companies that expand into Vietnam, amounting to pledged investments exceeding S$2.4 billion (US$1.84 billion). Discussions at the conference revolved around how sustainability and innovation go hand in hand, with experts discussing the importance of maintaining lean manufacturing processes.
Future Growth in ASEAN
With a combined GDP of US$3.6 trillion, the region's economy is expected to grow at around 5 per cent this year. Key discussions centered on how UOB, with its strategic network, is well-positioned to facilitate business growth across ASEAN.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.