Hue told Ng Keng Hooi, Chief Executive and President of AIA Group Limited, in Hanoi on August 15 that the Vietnamese Government will work harder to raise public awareness of life insurance and issue more relevant policies to make it easier for businesses, including AIA, to participate in the local insurance market.
The Deputy PM also called on AIA and other life insurance companies to diversify their products in order to meet demands of Vietnamese customers.
He suggested the group join Vietnam’s derivatives market, saying AIA will have more changes to expand their financial investment in the country as the Vietnamese Government will employ an array of measures to restructure the financial and banking sectors and equitise State-owned enterprises.
Appreciating AIA’s engagement in Vietnam’s with tenures ranging from 20-30 years, Hue noted his hope that the group will pour more capital resources into the market.
For his part, Ng Keng Hooi applauded the Vietnamese Government’s efforts to improve local investment and business climate over the past years and described Vietnam as a promising market for financial investors.
AIA will continue to invest in Vietnam’s long-term G-bonds and pay attention to life insurance in the country, he said.
AIA is the largest independent publicly listed pan-Asian life insurance group – with a presence in 18 markets across the Asia-Pacific region.
The group’s vision is to be the world’s pre-eminent life insurance provider and its purpose is to play a leadership role in driving economic and social development across the region.