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 promote 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.
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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)
