Insurance sector of Vietnam : new opportunities
With adoption of a growth and market-oriented economic policy, Vietnam offers new opportunities, particularly to foreign investors. The insurance needs of the country are also increasing. The development of Vietnam's insurance market has caught the attention of foreign insurers worldwide, in...
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| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project |
| Language: | English |
| Published: |
2015
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/63547 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | With adoption of a growth and market-oriented economic policy, Vietnam offers new
opportunities, particularly to foreign investors. The insurance needs of the country are also
increasing. The development of Vietnam's insurance market has caught the attention of foreign
insurers worldwide, including Singapore.
If Singapore aims to be the leading insurance and reinsurance centre in Asia, it cannot miss out
the opportunities of tapping into the insurance market of Vietnam. This report attempts to collect
as much information as is possible on the present position and future requirements in the area
of insurance. However, very little is known on the subject.
Most of the important information for the report were obtained from interviews with insurance
professionals, both from Vietnam and Singapore. Their opinions and suggestions have helped
to give some depth to the study.
The study briefly examines the operations of The Vietnam Insurance Company (Baoviet), the
growth potential of selected sectors, prospects and procedures of entering the market.
At present, there is no law governing insurance in Vietnam. A legislation, however, is expected
at the end of 1994. Any meaningful involvement of foreign insurance companies in Vietnam
will fructify only after the statute is in place. |
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