Vietnam’s Ministry of Finance has approved the establishment of Dai-ichi Life Holdings a representative office in Hanoi, as announced by Seiji Inagaki, president and representative director of the leading Japanese life insurer, on July 8.
In 2007, Dai-ichi Life Holdings established its Vietnamese arm as the first international life insurance business in the Southeast Asian country. Since its foundation, Dai-ichi Life Vietnam has achieved exceptional growth and maintained its position as one of the top performers in the life insurance market. The Vietnam Investment Review (VIR) reported.
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Group president Inagaki pointed out that Vietnam has achieved remarkable economic growth and its life insurance market has expanded.
“We see further market expansion supported by sustainable economic development and a population of approximately 96 million people. We already send staff to Dai-ichi Life Vietnam’s headquarters in Ho Chi Minh City and, in addition, we are establishing a representative office in Hanoi, and sending new staff to represent us,” said Inagaki.
The Hanoi representative office will not only conduct research and surveys on the insurance market and regulatory trends, but also work on building relationships with relevant local authorities and Japanese companies in Vietnam.
Moving forward, Dai-ichi Life Group will continue creating sustainable values by fully utilising its global trilateral structure which includes Japan, North America, and Asia-Pacific.
Hanoi By Night
According to a report by local media, under a scheme in which the Japanese government will fund a production shift from China, 15 Japanese firms have registered to move to Vietnam.
The 15 firms belong to a list of 30 Japanese firms who will be paid to move factories out of China and set them up in Southeast Asian markets like Vietnam, the Philippines, Thailand and Laos.
Also read: 15 Japanese firms will be paid for moving to Vietnam from China
Releasing the list, the Japan External Trade Organization (Jetro) said six of the 15 were large firms and the remaining nine were small and medium-sized enterprises (SMEs).
Most of these firms make medical equipment while the rest produce semiconductors, phone components, air conditioners or power modules.
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Source: Vietnam Insider