UOB Deputy Chairman and CEO Wee Ee Cheong met with Vietnam President To Lam on 30 May 2026 during the Shangri-La Dialogue in Singapore. The meeting focused on UOB’s long-term commitment to Vietnam’s economic growth and regional integration. UOB, which has operated in Vietnam for over 30 years, is the only Singaporean bank with a subsidiary in the country, boasting five branches in Ho Chi Minh City and Hanoi.
UOB Vietnam, with a charter capital exceeding S$500m, is the second largest foreign-owned bank in Vietnam. The bank’s acquisition of Citi Vietnam’s consumer banking business in July 2025 has significantly expanded its customer base. UOB has been instrumental in promoting Foreign Direct Investments (FDI) into Vietnam, supporting over 400 companies with projected investments of about S$9b since 2020, creating more than 60,000 jobs.
The bank is also constructing a new headquarters in Ho Chi Minh City, with a groundbreaking ceremony planned for July 2026. Additionally, UOB is considering involvement in the Vietnam International Financial Centre, which aims to enhance capital flows from Singapore and ASEAN into Vietnam.
Wee Ee Cheong stated, “Vietnam is a key market in UOB’s ASEAN strategy and is one of Southeast Asia’s most dynamic and resilient economies. We see tremendous opportunities in Vietnam’s continued transformation and its growing role as a key hub in ASEAN.”
UOB’s initiatives underscore its commitment to facilitating cross-border trade, supporting FDI flows, and empowering local enterprises in Vietnam.
