Vietnam, which has a large population with a strong appetite for bank savings and a growing stock market, is becoming a magnet for more indirect foreign investment, The Times newspaper said.
According to the British paper, “there has been a boom in retail investment” in Vietnam as its new official securities market was set up. In the first few months of 2006, the Vietnamese invested US$150 million in shares.
Vietnam, therefore, has become one of the “tiger economies” that Prudential Corporation Asia (PCA) has thrived in. The company, with 1,500 staff, has become the biggest insurer in Vietnam, with 39 percent of the market.
In view of the Vietnamese booming stock market, PCA has taken the lead in setting up the first wholly-foreign owned fund manager in the country. The Prudential Vietnam Fund Management Company has now become the biggest fund manager in Vietnam.
The insurer has helped Vietnam establish its financial regulatory regime by drawing on the group's experience of regulation around the world.
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