UOB and Xingshi Real Estate support enterprises to expand production in Southeast Asia

This cooperation comes at a time when foreign investment in Southeast Asia surges - According to the United Nations Conference on Trade and Development (UNCTAD), foreign direct investment flowing into Southeast Asia in 2024 reached US$225 billion (about S$286.3 billion), an increase of nearly US$2 billion from the previous year.

UoBank Thailand and Star Lion Real Estate Thailand signed a strategic cooperation memorandum on Wednesday (July 2) to jointly support the company's industrial investment expansion in Thailand, Vietnam and Indonesia.

Peerapat Srisukont, managing director of the Thai industrial business of Xingshi Real Estate, also emphasized that he hopes to provide seamless support for global manufacturing companies to enter Thailand through collaboration with UOB and consolidate Southeast Asia's position as the focus of global emerging industries.

The two sides will lock in major industrial areas in Southeast Asia and support enterprises that are interested in landing or expanding production, especially in the fields of manufacturing and logistics.

Richard Maloney, CEO of UOB (Thailand), said that companies are increasingly focusing on Southeast Asia to establish resilient supply chains, "This cooperation will help us identify potential industrial investment projects and promote sustainable development of the regional economy."