Deputy Prime Minister Vuong Dinh Hue has proposed FWD Insurance of the Pacific Century Group participate in green financial funds for start-up and innovation projects in Vietnam.

Deputy Prime Minister Vuong Dinh Hue (R) and Chairman
of the Pacific Century Group Richard Li  

He made the recommendation while receiving Chairman of the group Richard Li in Hanoi on November 12.

The Deputy PM also asked the FWD to consider investing in green G-bonds and join insurance for renewable energy projects.

Li said his group is keen to invest in Government bonds in Vietnam and has selected the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) as its partner due to the bank’s financial strength and good growth.

The FWD will focus on investment for Vietnamese start-up firms in the coming time, he affirmed.

Deputy PM Hue said the cooperation with Vietcombank - one of the leading commercial banks in Vietnam - will help the FWD expand its scope of operation to reach more Vietnamese customers.

He described the cooperation agreement between Vietcombank and FWD as a good model of the linkage between insurance companies and commercial banks.

The Deputy PM hoped that with great financial potential and management skills, the FWD will offer more insurance products, especially life insurance packages, to Vietnamese people.

Founded in 2013, FWD Insurance has been present in nine markets, with total assets of more than 30 billion USD. It entered Vietnam in June 2016 by acquiring 100 percent of equity in Great Eastern Life Insurance Company Limited.

FWD Vietnam has been licensed to operate in life insurance and health insurance in Vietnam, and has become the 10th largest insurance company in Vietnam.

Pacific Century Group is a private investment group headquartered in Asia. It is active in the arenas of financial services, technology, communication and telecommunication, and real estate.