In Response to Call, Insurer AIA to Buy More Vietnamese G-Bonds

Tuan Minh

21:52 16/08/2017

BizLIVE - AIA will buy more Vietnamese G-bonds in response to the government's invitation.

In Response to Call, Insurer AIA to Buy More Vietnamese G-Bonds

Deputy Prime Minister Vuong Dinh Hue hosts a reception for AIA's Chief Executive and President Ng Keng Hooi in Hanoi on August 15. Photo: VGP/Thanh Chung

Hong Kong-headquartered AIA Group Limited will continue to invest in Vietnam’s long-term government-bonds (G-bonds) and pay attention to life insurance in the Southeast Asian country, the group’s Chief Executive and President Ng Keng Hooi has stated.
At a meeting with Deputy Prime Minister Vuong Dinh Hue in Hanoi on Tuesday, Ng Keng Hooi applauded the Vietnamese government’s efforts to improve the local investment climate over the past years and described Vietnam as a promising market for financial investors.
For his part, Hue called on AIA and its subsidiaries to further invest in Vietnamese G-bonds and take part in the country’s recently-launched derivatives market.
Highlighting the government’s efforts to restructure the financial and banking sectors and privatize state-owned enterprises, the deputy prime minister noted that AIA will have more chances to expand their financial investment in the country.  
AIA Vietnam’s portfolio is mainly comprised of G-bonds, apart from government-guaranteed corporate bonds.
The insurer bought 1.37 trillion dong ($60.3 million) worth of Vietnamese G-bonds having a 20-year tenure in October 2015 and another 790 billion dong ($34.8 million) in 30-year G-bonds in 2016.
AIA is the largest independent publicly listed pan-Asian life insurance group, with a presence in 18 markets in the Asia-Pacific region.

TUAN MINH

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