Hanoi teams up with UOB to upgrade FDI quality

Victor Ngo, CEO of UOB Vietnam (left), and Nguyen Ngoc Tu, director of the Hanoi Department of Finance (right). Photo: UOB Vietnam

The MoU, signed on 25 June, establishes a cooperation framework to facilitate foreign direct investment (FDI) aligned with the capital's development strategy. UOB Vietnam and the Hanoi Department of Finance will jointly target projects in high technology, digitalisation, green growth, sustainability, new energy, semiconductors, finance, construction and infrastructure. The pact also provides advisory support for Vietnamese companies seeking to integrate into global supply chains and expand into Singapore and other international markets.

Under the deal, UOB Vietnam will work with Hanoi Department of Finance on investment promotion activities, including conferences, seminars and investment matching programmes, to enhance information exchange, strengthen business connectivity and facilitate investors’ access to opportunities in Hanoi. Both parties will also maintain regular engagement to support the effective implementation of the cooperation.

UOB is among the most active foreign banks supporting FDI into Vietnam, particularly from Singapore, China and the wider ASEAN region. In 2013, the bank established a dedicated FDI Advisory Unit in Vietnam as part of its network of 11 advisory centres across Asia.

Since 2020, the unit has supported more than 400 companies with approximately $7 billion in projected investments, helping to create over 60,000 job opportunities. In 2024, UOB Vietnam further strengthened its commitment by signing an MoU with the Ho Chi Minh City Investment and Trade Promotion Centre to facilitate high-quality FDI into Ho Chi Minh City and the southern region, while supporting Vietnamese enterprises in expanding regionally and globally.

Victor Ngo, CEO of UOB Vietnam, said, "Vietnam continues to stand out as one of the most attractive destinations for foreign direct investment. As the nation’s capital, Hanoi is advancing a new growth model to develop into a leading centre for science and technology, innovation, digital capabilities and high-value services in the next phase of its development."

"This MOU provides a platform to support Hanoi in attracting the high-quality investment and capabilities required for that transition. Leveraging our extensive ASEAN network and deep expertise in cross border investment advisory, UOB is well positioned to serve as a trusted connector between international investors and opportunities in Hanoi and Vietnam more broadly, while supporting Vietnamese enterprises as the country deepens its integration into regional and global supply and value chains," he said.

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