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Vietnam reveals solution to improve insurance market


The Ministry of Finance (MoF) of Vietnam has laid down solutions to develop a safe and sustainable insurance market and meet the diverse insurance needs of organisations and individuals. These include granting licences to qualified investors to participate in the Vietnamese insurance market; continuing to manage and monitor the market by means of remote monitoring and on-site inspection; building and perfecting an information technology system serving market management and supervision; and carrying out inspection and examination of enterprises in accordance with the approved plan. The MoF said that the institutional improvement would continue to be focused on gradually creating a favourable legal corridor for the healthy and sustainable development of the insurance market and meeting bilateral and multilateral commitments on international integration.

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