At the People's Committee headquarter of Binh Duong Province, on June 6th 2014, "Program of Insurance companies advance claim payment to damaged enterprises in Binh Duong Province" was co- hosted by Vietnam's Ministry of Finance, People's Committee of Binh Duong Province and Vietnam Insurance Association.
Finance Minister Dinh Tien Dung spoke at the event
Attending the Program, there were Mr. Dinh Tien Dung – Party Central Committee Member, Minister of Finance, Mr. Le Thanh Cung – Chairman of People's Committee of Binh Duong Province. There was attendance of representatives of units of Ministry of Finance, Departments and Agencies of People's Committee of Binh Duong Province, representatives of Taipei Economic and Culturral Office, VietNam and Taiwan Businessmen Association. The Insurance Enterprises made advance payment of compensation to the customers such as: Fu Bon, Bao Viet, Bao Minh, Pjico, Ca Thay, MSIG, Samsung Vina,... along with 113 insured customers who received advance payment of compensation and representatives of investors of Korea, Japan, Taiwan, Hongkong, Singapore...
Minister of Finance Dinh Tien Dung claimed that, the Government of Vietnam is extremely determined in keeping the investment environment safe and favourable for investors. Following the Prime Minister, Ministry of Finance has been working directly with the localities and enterprises and timely guided and issued 9 financial solutions to support the affected enterprises. Until now, most of enterprises have returned to work.
In the field of insurance, Ministry of Finance guided insurance enterprises to urgently coordinate with the damaged enterprises and localities to determine the damages and make payment of compensation soon. Simultaneously, Minister of Finance asked the People's Committees of Municipalities and Provinces involved to guide the functioned agencies to create favorable conditions, support insurance enterprises to make insurance payment of compensation.
With the efforts of insurance firms and positive support of the functioned agencies of Binh Duong Province, the insurance enterprises had firstly determined the damages of some enterprises and initiatively make plans for timely compensation for the affected enterprises. Specifically, today, on June 6th 2014, there were 113 damaged enterprises received the advance payment of compensation about 114.7 billion VND including: 87 Taiwanese investors of 59.5 billion VND; 3 Singaporean investors of 28.3 billion VND; 4 Hong Kong investors of 21.8 billion VND; 3 Korean investors of 3.3 billion VND,...
Minister of Finance Dinh Tien Dung said that although the advance payment of compensation has not lived up to the enterprises' expectations, it has confirmed the commitment and responsibilities of the Insurance Firms to the insured customers. It is a necessary expense to help the affected enterprises to overcome a part of the difficulties to stabilize production soon. Ministry of Finance highly appreciated the positiveness, urgency and responsibilities of the insurance enterprises in making advance payment of compensation. Simultaneously, it also claimed the role and significance of insurance to the economy in general and individuals and the enterprises in particular with the unexpected risks that may happen.
According to Minister of Finance Dinh Tien Dung, in the coming time, the related parties still have to continue coordination efforts. Vietnam's Ministry of Finance believed that, with the guidance of the Prime Minister and close coordination of the ministries, sectors and localities and the enterprises' consesus responses, we will certainly overcome the difficulties, stabilize and develop. Minister Dinh Tien Dung claimed that Vietnam's Ministry of Finance will continue supporting and timely solving the difficulties arised for the enterprises to stabilize and develop production and business, at the same time, implement various solutions to improve investment environment for invetors’ safety.