Prudential becomes strongest player.

(From Saigon Times Magazine)

Prudential has become the largest foreign investor in Vietnam's insurance, banking and finance markets as the company has been allowed by the Finance Ministry to increase its capital to US$61 million.

According to Huynh Thanh Phong, Prudential Vietnam general director, the extra capital allows the company to increase its reserves to ensure sufficient liquidity and expand operations. He said Prudential saw Vietnam as a potentially large market in Southeast Asia and a safe venue for business. "The local life insurance sector will continue to register stronger growth in the next five or seven years if Vietnam could maintain the …