Customers at a branch of Bao Viet Life. (Photo: VNA)
Hanoi (VNS/VNA) - Insurance companies enjoyed an increase in sales inthe first quarter of this year.
Bao Viet Holdings (BVH) has announced that its revenue increased by12 percent to 408 billion VND (17.4 million USD) in the period.
However, operating expenses soared by 286 percent to 104 billion VND, whichmade its profit after tax to drop by 9 percent compared to that of the firstquarter last year.
BVH's consolidated financial statements showed that insurance premium revenueincreased by 9 percent to 8.75 trillion VND.
In the first quarter which coincided with the COVID-19 pandemic, Bao VietInsurance Corporation, a subsidiary of BVH, applied a 20 percent discount onsome health insurance programmes.
Life insurance sector is contributed by Bao Viet Life with 225 billion VND inrevenue, up 16 percent year-on-year.
PetroVietnam Insurance Corporation (PVI), an enterprise operating in the fieldof non-life insurance, reported that its revenue in the first quarter grew by51 percent to 79 billion VND.
Vien DongInsurance Joint Stock Company reported its net revenue from insuranceincreased slightly by 2 percent to 541 billion VND, but after-tax profitdecreased by 32 percent to 10.7 billion VND.
Military Insurance Corporation (MIC) reported net revenue from insuranceincreased by 26 percent year-on-year to 499 billion VND.
However, the total cost of the insurance business increased 37 percent to 423billion VND, which led to a 5 percent decrease in profit in the first quarterto 28 billion VND./.
The top 60 biggest companies by market capitalisation and trading liquidity on the two local stock exchanges saw combined post-tax profit gain of 22.5 percent to 46.75 trillion VND (2 billion USD) in the third quarter of 2019.
Japanese insurer Sumitomo Life has registered to buy more than 41.4 million shares of local insurer insurance-finance-banking group Bao Viet Holdings (BVH).
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Customers at a branch of Bao Viet Life. (Photo: VNA) 
