Welcome back to Fidinam's Unlocking Vietnam podcast, where we explore the complexities of doing business in Vietnam. In the episode we examine the rapidly evolving insurance sector in Vietnam, which is influenced by economic growth, digital innovation, and demographic changes.
Episode 8: Exploring Vietnam's Booming Insurance Market
Our guest, Quinn Miller, Founder and Managing Partner of EB-ASIA, joins us to discuss key topics such as market demand, regulatory changes, foreign investment dynamics, and the impact of digital transformation on the insurance landscape.
In this episode we highlight the major trends about this dynamic and booming business sector, emphasizing the unique opportunities and challenges that foreign and local investors may encounter.
Vietnam’s insurance sector is broad and governed by specific laws, which vary depending on the type of insurance and whether the investor is local or foreign. For foreign investors in the insurance industry, it is important to note that it is “conditional” sector. This means certain conditions must be met to operate in it.
According to Vietnam's WTO Schedule of Commitments, foreign investors are allowed to engage in insurance services, but specific conditions apply to both insurance companies and intermediaries. Depending on the scope of activities, capital requirements and other financial, tax, and licensing obligations may vary.
As a result, it may be necessary to establish a different corporate framework tailored to the circumstances. We encourage anyone interested to reach out and discuss individual circumstances further.
This episode provides listeners with knowledge and essential insights into the Vietnamese insurance industry, whether you are an established investor or exploring new opportunities.
For more information about doing business in Vietnam, feel free to contact us at info@fidinamgw.com or via the form below.
Stay tuned for future episodes of "Unlocking Vietnam," where we will continue to explore various aspects of Vietnam's business environment. Listen to the full episode:
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Looking back: In previous episodes we:
