Increased product awareness and an expanding economy are fuelling demand in Vietnam’s insurance industry, as the government seeks to attract overseas investors to the market. In early July South Korean underwriter Mirae Asset Life Insurance announced it would invest VND1.1trn ($48.3m) in Prevoir Vietnam Life Insurance, giving it a 50% stake, with the rest owned by Scor Global Life and Prevoir…
Increased demand for Vietnamese exports abroad and a rise in investment-driven imports has caused substantial change in the country’s trade patterns, something an upcoming trade deal with the EU could alter further. South Korea becomes Vietnam’s second-largest trading partner Trade with South Korea reached $29.1bn in the first half of this year, or 14.7% of the total, according to figures released…
New air routes and relaxed visa restrictions in Vietnam are boosting foreign arrivals and supporting growth in the country’s tourism industry, though there are concerns that overexploitation of cultural and environmental resources could devalue the sector’s key assets. Foreign arrivals in the first half of 2017 jumped 30.2% year-on-year (y-o-y) to roughly 6.2m, according to the General Statistics…
With a rapidly expanding economy, the capacity for growth in both domestic and international trade is increasing Vietnam’s appeal to foreign operators in the logistics sector. The economy grew by an average of 6.3% per year over the past decade, according to data issued by the Ministry of Industry and Trade in late May, with per capita incomes rising more than three-fold since 2007, climbing from…
…
A need to fund infrastructure projects vital to expanding Vietnam’s economy and boosting connectivity is pushing its government to turn to the private sector for support. Vietnam has made a strong commitment to infrastructure spending in recent years, with investments averaging 5.7% of GDP, according to the Asian Development Bank (ADB) – a figure second only to China’s in the region and triple…
Vietnam has risen to become one of the region’s greatest economic success stories, with its coastline, highlands, jungle and abundance of natural resources helping to bolster its rapid industrial development. Ongoing economic liberalisation and government initiatives to privatise or restructure a number of state-owned enterprises have had a major impact attracting billions of dollars of foreign…
In the realm of second investment chances, Vietnam is emerging as a global champion after bouncing back from a severe downturn. Only five years ago the country was considered too risky to contemplate, having suffered a major economic decline and financial correction that affected many corporate and country ratings. However, after a major reform push, a clean-up of the banking sector…
