Ho Chi Minh City is seeking investment in hi-tech, environmentally friendly projects to meet development demand in the next two years, according to the city's Planning and Investment Department.Hardware, software development and production of electronic parts as well as precision engineering are all part of the city's plan. Multibillion dollar projects this year included the 3.5 billion USD Berjaya International University , the 1.2 billion USD TECO software park and the 1.2 billion USD TA skyscraper. The TECO software park in Thu Thiem New Urban area in District 12 will develop a space of 700,000 square metres for hi-tech, software, banking and insurance companies. The city will also call on further investment for new roads, bridges and electricity and water supplies to meet economic growth. To generate capital for infrastructure, the city will raise capitals from different sources, including private investors, since there are limited funds from the State budget. Getting funds from … [Read more...] about HCM City seeks funds for hi-tech, green projects
Tech insurance company
Vietnam re-insurer seeks foreign investors
The National Re-Insurance Corporation (Vinare) a company which offers supplemental insurance coverage, is seeking strategic investors as a means to raise capital and gain the necessary expertise for business expansion. The Hanoi-based Vinare said in a statement on Thursday that it had retained the services of international investment bank NM Rothschild & Sons and unlisted Vietnam-based Horison Capital Advisers to help in the search. Trinh Quang Tuyen, the chair-man at Vinare, said in May that the company would offer 12.75 million shares to foreign and domestic investors as part of a plan to issue 40.7 million new shares into the market to raise funds for several projects. … [Read more...] about Vietnam re-insurer seeks foreign investors
Hospitals attract patients using international medical insurance
Hospitals attract patients using international medical insurance (10-10-2005) HCM CITY — When the son of a Norwegian couple came down with diarrhoea while travelling in Viet Nam, the boy was sent to HCM City's Family Medical Practice for treatment. The tourists' medical costs were all covered by their European insurance company, Euro Centre. Recently, a Japanese tourist fell and broke his leg. At the suggestion of his insurance company Sompo Japan Insurance, he called Family Medical and within minutes he was shuttled to the clinic for an X-ray. When he requested that he undergo treatment at home, he was helped to fly back to Japan that same day. Sompo covered his medical and transport costs. Thousands of foreign patients in situations like these have been treated at Family Medical, which is owned by Israeli-born Rafi Kot. For foreign-owned health clinics in HCM City, treating foreigners and collecting fees in foreign currency from international insurance companies has become a … [Read more...] about Hospitals attract patients using international medical insurance
Insurer focuses on south-east
HCM City — Life insurance firm Manulife Viet Nam on Wednesday unveiled its business plan focusing on the south-eastern region. With a population of 2.4 million people and an increase of 13.5 per cent in GDP in 2010 against 2009 - double the GDP growth rate of the whole country in 2010 - Dong Nai was one of the most promising markets for Manulife, after HCM City and Ha Noi, the company said. Being the first 100 per cent foreign-owned life insurance company licensed in Viet Nam in 1999, the company was one of the top three life insurance companies in the country with more than 9,000 agencies nation-wide, the company said. VN sees booming 3D TV market HA NOI — The growth of the 3D television market in Viet Nam has been 100 per cent over recent years while the market in Malaysia, Singapore has fallen off to 50-60 per cent, says LG Electronics Viet Nam managing director Yoen Tae Ko. Ko expects growth in the 3D TV market in Viet Nam to double. LG would launch nine new 3D … [Read more...] about Insurer focuses on south-east
Local enterprises make a move in Vietnam’s life insurance market
Local enterprises are moving into the local life insurance market - an area which has been almost totally dominated by foreigners in Vietnam for the past ten years. PetroVietnam Insurance Corp. (PVI) is on track to launch its life insurance arm this year, according to PVI's general director Bui Van Thuan. PVI said it had studied the market for a long time and is carefully taking steps to establish its life insurance affiliate. PVI is now the second-biggest non-life insurer in Vietnam with a revenue of VND4.46 trillion ($22.87 million) in 2010. The insurer's financial capacity is said to be sufficient for it to extend to the foreign-dominated life insurance sector. Thuan said the company was quite confident with this move given its already strong position in the non-life insurance sector. However, he indicated that PVI would have to cooperate with a big foreign life insurance firm "for technology purposes." Thuan said that technology, including sophisticated products … [Read more...] about Local enterprises make a move in Vietnam’s life insurance market