Prudential poised to up investment

Vietnam Investment Review, May, 2004 by Ngoc Mai

UK-based global life insurance company Prudential Plc wants to set up a new wholly-foreign owned investment company in Vietnam, the British Embassy announced last week.

The company would invest more than $500 million of its premium income back into the Vietnamese economy.

If the plan is approved by the government, Prudential would establish a separate entity named Management Investment Fund Company to expand its investment portfolio in Vietnam, the embassy said.

The proposal was made during President Tran Duc Luong's recent visit to the UK, where he met with businesses that have made significant investments in Vietnam, including BP, HSBC and Prudential.

The UK is one of the EU's largest investors in the country.

But an embassy...