UOB's FDI advisory unit draws S$27b in business flows into Asean in 2016

UNITED Overseas Bank (UOB) said on Thursday it continues to see more flows through its network of advisory units in Asean, that are aimed at drawing investments into the region.

The bank said its foreign direct investment (FDI) advisory unit helped to bring in more than S$27 billion in business flows into Asean in 2016, doubling from a year ago.

UOB cited data from the FDI advisory unit showing that the top investment destinations from global and Asian companies investing in the region in 2016 were Indonesia, Malaysia, Myanmar and Singapore.

Companies expanding into the region were more likely to be from the fast-moving consumer goods, natural resources and building and construction-related sectors that are tapping South-east Asia's growth potential, the data also revealed.