There’s an electric buzz in the air, and it’s not just the spicy Thai food that’s lacing the atmosphere with excitement. Picture this: a high-profile ensemble featuring Mr. Sam Cheong, with his expertise shining as the Managing Director, and head honcho of the UOB’s Foreign Investment Advisory Unit; Mr. Tan Choon Hin, donning the title of President and CEO of UOB Thailand with finesse; Mr. Narit Therdsteerasukdi, wielding his influence as the mastermind Secretary-General of the Thailand Board of Investment (BOI); and the strategic visionary, Miss Patcharada Nawakawongkarn, helming the Thailand Enterprise Development Division at BOI. All these heavy hitters convened for a ceremonial waltz of signatures, marking a game-changing MOU between UOB Thailand and BOI. The mission? To open the floodgates to a torrent of fresh investments into the heart of Thailand and across the bustling markets UOB calls home.
On a day that’s likely to be marked in golden ink on calendars across the region – January 11, 2024 – the Thailand Board of Investment and UOB Thailand sealed the deal on a collaboration poised to rev up the engines of business cooperation, ushering in new investment opportunities with the finesse of an experienced tuk-tuk driver navigating the hustle of Bangkok’s streets. This deal isn’t just about handshakes and smiles; it’s about amplifying the economic symphony by stringing together the strategic strengths of BOI’s local savvy with UOB’s financial wizardry.
“We’re not just playing matchmaker here,” said Mr. Narit with a twinkle in his eye, “we’re rolling out the red carpet to usher in global players into Thailand’s sandbox. With champions like Great Wall Motor and BYD, who’ve both raced ahead with their flagship projects, we’re transforming BOI from just another cheerleader to a powerful integrator, facilitator, and connector.”
Under the MOU’s watchful eye, UOB’s FDI Advisory maestros in Bangkok will join hands with BOI’s own team of investment gurus to support businesses dreaming of making Thailand their new playground, and that’s just for starters. This dynamic duo will dabble in UOB’s treasure trove of tailored financial solutions while weaving a network that connects ambitious businesses to a web of government agencies, trade associations, and professional service savants across Asia. Think of it like a grand soiree, where every handshake leads to new bridges being built for investments.
In the arena of ASEAN economies, where Thailand stands tall as the second-largest colossus, the country continues to charm foreign investments like a siren, with Greater China and Singapore swept up in the allure. Yet, in a world where the only constant is change, and global uncertainties dance to the whims of multilateral trade dramas, Thailand is doubling down on creating new avenues for growth within ASEAN’s embrace.
“Our sights are set on lighting up fresh paths across emerging markets, establishing footholds from China to Vietnam, not to mention eyeing up new frontiers like Riyadh and Chongqing,” added a visionary Mr. Narit, as he hinted at a gameboard that spans continents. Singapore, already a big brother in FDI contributions, is next in line to host a BOI bastion.
“Thailand’s got that je ne sais quoi for attracting Foreign Direct Investment,” chimed in Mr. Tan Choon Hin, UOB Thailand’s maestro. “With our expansive regional networks and FDI units, UOB is like a skilled puppeteer, ready to pull the strings that guide global investments across borders straight into Thailand’s embrace while also nurturing homegrown Thai companies to spread their wings across ASEAN’s promising lands.” UOB is not just blowing its own trumpet; they’ve orchestrated over 4,200 foreign companies’ expansion symphonies and channeled a staggering US$1.6 billion plus into Thailand’s coffers, not to mention perking up the job market with more than 18,000 openings since 2019.
So here we are, witnessing the dawn of a new chapter where UOB and BOI’s partnership doesn’t just sing a duet for economic growth—it’s conducting an orchestra, harmonizing the melodies of investment and ambition, all set to the rhythm of Thailand’s heartbeat.
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