United Overseas Indonesia, the wholly-owned subsidiary of Singapore financial services firm UOB Group, has announced plans to establish a foreign direct investment advisory unit in Indonesia. 

The FDI advisory arm is set to commence before the end of 2013, pending government and other regulatory approvals. When set up, foreign investors seeking to do business in the country will only need to contact the bank to enjoy one-stop service across all aspects of business establishment. 

Customers will course through UOB's credit facility, which in turn will significantly increase corporate loans. The firm targets to boost corporate loans from around INR21 trillion to INR22 trillion at present to around INR40 trillion ($3.7 billion). The move is in line with the Indonesian government's goal of increasing foreign direct investment from INR206 trillion in 2012 to INR272 trillion this year. 

The Indonesian FDI advisory arm is UOB Group's fifth, following Singapore, Malaysia, Thailand and China. The company said it plans to open in Hong Kong, India and Vietnam next.