MoF Minister Vuong Dinh Hue recentlymade the statement at a meeting with leaders of Sumitomo and Daiichi Life groups in Tokyo on November 1.

According to Minister Hue, Vietnam’s insurance market opens its doors to foreign investors and holds great potential for Japanese businesses.

He welcomed Sumitomo group’s decision to increase its market share in Vietnam and acknowledged Daiichi Life group’s social and charitable activities in the country.

Leaders from the two groups expressed wishesto expand their long-term operation in Vietnam and their willingness to share experiences with the MoF and other relevant authorities in promoting socialization of the insurance market.

Sumitomo Group has just been licensed to open its representative office in Vietnam while Daiichi Life has had its subsidiary company operating in the country after when it purchased Bao Minh CMG Life Insurance Company in 2007.