Last updated: 15:11 - October 12, 2006
Prudential Vietnam licensed to open finance company http://www.nhandan.com.vn/english/business/121006/business_pr.htm
Prudential Vietnam has said it has received a licence from the State Bank of Vietnam for opening a finance company.
The Global Prudential Group Chief Executive Mark Tucker said the licensing of the company has shown the Vietnamese Government's policy in favour of the development of foreign - invested businesses in general and of Prudential in particular.
He said Prudential's confidence in the Vietnamese market has increased following the first launch of its investment fund certificates in September.
After seven years' operations in life insurance, Prudential Vietnam has emerged as the first foreign company to be licensed for retail financing with the birth of the Fund Management Company in 2005 and the first foreign financial institution to enter the credit market with the freshly-founded finance company. (VNA)
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