Leading US insurer New York Life International has announced it will withdraw from Vietnam and seems likely to focus on more profitable markets.
Erin Pham, its chief representative, said the company was packing up because it was unable to invest funds in Vietnam.
However, other sources said that the company was more keen on China, India, and Thailand.
New York Life opened its representative office in Vietnam in 2000 and applied the next year to establish a wholly-owned insurance company.
But after waiting in vain for three years to get a license, New York Life decided to withdraw the application in 2004.
In June 2005 it finally got the license.
Source: Thanh Nien
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment