Vietnam to take solutions to sustainable insurance market
Vietnam’s state management agencies will take series of measures in order to promote sustainable development of insurance market, a Vietnamese legislator has said.
Hanoi (VNA) – Vietnam’s state management agencies will take series of measures in order to promoꦆte sustainable development of insurance market, a Vietnamese legislator has said.
Solutions will focus on fine-tuning policies and mechanisms concerning insurance business, simplifying administrative procedures and intensifying supervision and inspection of insurance firms, National Assembly Vice Chairman Phung Quoc Hien told President and Executive Director of the life insurance group AIA Mark Edward Tucker in Hanoi on August 23.
During the meeting, Hien hailed the firm for its contributions to Vietnam’s socio-economic development since it started operation in the country in 2000.
He hoped AIA would continue expanding its services and products in Vietnam.
Acknowledging the firm’s proposals of the firm, he suggested sharing experience in building laws relating to insurance business and helping Vietnam improve the legal framework.
Mark Edward Tucker pledged to share skills on insurance operation with Vietnam, affirming the firm’s long-run business target.
AIA wishes to invest in Vietnam’s Government bond, especially long-term bond, he added.-VNA
The AIA life insurance group will work in the long run in Vietnam and hopes to be facilitated to expand its products, President and Executive Director Mark Edward Tucker said.
The Southeast Asia region’s insurance market will continue to reap success once the ASEAN Economic Community (AEC) is formed at the end of 2015, said Singapore’s Straits Times.
The AIA Vietnam Life Insurance Co. Ltd recently won the award Vietnam Trusted Brand 2015, the third year in a row it received the title, the Lao dong (Labour) daily reported.
The National Fund for Vietnamese Children on Sept. 18 teamed up with the AIA Vietnam Life Insurance Co. Ltd to present 30 bicycles and 30 gift packages, worth 55 million VND (2,447 USD) in Tra Vinh.
AIA Vietnam said on February 28 that it had excellent business results last year, as the value of new business doubled for three consecutive years and the AIA Exchange, was launched.
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The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
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A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
Illustrative image (Source: lighttalk.via-verlag.com)
