Commercial Banks with limited credit room have agreed to work for insurance companies and are now forcing customers to buy compulsory insurance before they can receive loans.

The Vietnam Social Security (VSS) has used over VND45.444 trillion ($1.96 billion) from the unemployment insurance fund to pay for employees and employers over the past two years.

International insurance groups have reaffirmed their appetite in Vietnam’s landscape, citing favourable demographics, an improved regulatory corridor, and a foreign ownership ratio lift contributing to the market’s appeal.

Deep-pocketed actors planning to get into mergers and acquisitions are placing a greater emphasis on Vietnam’s insurance, bolstered by fresh digital capabilities and a supportive legal framework.

Experts are upbeat about the Vietnamese insurance industry’s health in the coming years, forecasting it would maintain an annual double digit growth rate.

The EU has a strong financial services market and the EVFTA will have a significant impact on the Vietnamese economy and finance market.

The General Statistic Office (GSO) announced on August 16 that it has started a process to revise the country’s GDP calculation.

 Seven out of every ten informal workers did not know about employment policies and more than 40 percent of freelance workers had never heard about voluntary social insurance, according to a survey.

VietNamNet Bridge - Economic groups and corporations from ASEAN countries, including Vietnamese businesses, are pouring big money into neighboring countries. 

VietNamNet Bridge - The high expected growth rate of 30-40 percent per annum and the low 8 percent of the population with life insurance policies all make the sector attractive. Nineteen life insurers have been competing fiercely in the field.

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VietNamNet Bridge – A health insurance law passed in early 2012 told the State to pay 30 per cent of health insurance card costs for farmers, fishermen and salt workers within a certain income range, but its implementation has been slowed down

 VietNamNet Bridge – The export credit insurance pilot program is about to finish at this year’s end, but it’s not too early to say that the target of having 3 percent of import-export turnover insured proves to be unattainable.

VietNamNet Bridge – The number of people participating in the unemployment insurance policy nationwide surged from nearly 6 million in 2009 to over 8.3 million in 2012, heard a conference in Ha Noi yesterday (Oct 10).

 VietNamNet Bridge – The number of enterprises that ceased operations rose by 12.3 per cent in the first half of the year, according to the Ministry of Planning and Investment (MPI).

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 VietNamNet Bridge – Prime Minister Nguyen Tan Dung has decided to give a warning to former chairman of Electricity of Vietnam (EVN), Dao Van Hung, for big losses of the group’s subsidiary EVN Telecom.