Hong Kong-based insurer likely to reach deal with Vietcombank
Insurer FWD Group Ltd. is nearing an agreement to pay about 400 million USD for a unit of the Bank for Foreign Trade of Vietnam JSC (Vietcombank), and a long-term insurance distribution agreement with the bank, Bloomberg reported.
Hanoi (VNA) – Insurer FWD Group Ltd. isnearing an agreement to pay about 400 million USD for a unit of the Bank for Foreign Trade of Vietnam JSC (Vietcombank), and a long-terminsurance distribution agreement with the bank, Bloombergreported.
Billionaire Richard Li’s insurer, which isbased in HongKong (China), outbid competitors including Prudential Plc,said the news outlet.
As part of the deal, FWD will buy a business called Vietcombank Cardif LifeInsurance, which is owned by Vietnam’s biggestlender,and BNP Paribas SA’s life insurance unit Cardif.
In a so-called bancassurance transaction, an insurer typicallypays an upfront amount for exclusive rights to sell its products in bankbranches. That has been a popular way of expanding in Southeast Asia, an areaof mostly developing economies with young populations.
Shares of Vietcombank rose as much as 2.3percent two days ago in their biggest advance since September 13.
Li, the son of Hong Kong’s richest man, is making a big bet onSoutheast Asia as FWD paid 3 billion USD for a life insurancebusiness in Thailand in July. The insurer already has presence in Vietnamfollowing a small acquisition in the country in 2016.
Representatives for FWD, Vietcombank, BNPParibas and Prudential declined to comment but a reliable source said an officialannouncement could be weeks away./.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) posted the highest pre-tax profits among Vietnamese banks in the first six months of 2019, raking in more than 11.04 trillion VND (474.7 million USD), up 43.1 percent on-year.
Several banks have recently announced they would recruit a large number of personnel to meet their business expansion plans in the last quarter of the year - the busiest time for banks.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has entered Vietnam’s 50 best listed companies in 2019 by Forbes Magazine for the seven consecutive years.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
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.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
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.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
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.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative image. (Source: bloomberg.com) 
