Bao Viet-led insurance consortium signs $2 bln deal with high-tech firm on healthcare projects
A consortium of insurers led by Bao Viet Insurance on Tuesday signed a framework agreement to provide comprehensive insurance services to Nhat Hai New Technology JSC (OIC New) for its healthcare projects during 2026-2036.
At the signing ceremony of a framework agreement between the Bao Viet-led insurance consortium and OIC New on May 13, 2025. Photo courtesy of Bao Viet Insurance.
This agreement, worth $2 billion, marks a significant step forward in the strategic collaboration between the parties, aiming to support the sustainable growth of Vietnam’s high-tech and healthcare sectors.
Under the deal, the insurance consortium, including Bao Viet, PVI, BIDV Insurance (BIC), Military Insurance (MIC), Saigon-Hanoi Insurance (BSH), and Tasco, will design and implement customized insurance programs tailored to the operations of OIC New - a pioneering science and technology company specializing in the application of nanotechnology in pharmaceuticals, healthcare, and environmental sectors.
The insurance coverage will span from assets, liability, and personnel insurance to specialized risk coverage related to research, production, and commercialization of nanotechnology and monoclonal antibody products.
Furthermore, the consortium has pledged to accompany OIC New in its cancer treatment projects, including advanced cancer wellness resorts invested or co-invested by the tech firm.
At the signing ceremony, representatives from all parties emphasized the importance of establishing advanced financial protection mechanisms for innovative enterprises.
The partnership between a high-tech company and a consortium of insurers exemplifies the integration of strategic industries, helping enhance national competitiveness in the era of innovation and sustainable growth.
Ha Anh Tuan, director of corporate clients at Bao Viet Insurance, stated: "With six decades of experience in national-scale projects, we recognize the outstanding development potential of nanotechnology, especially when combined with pharmaceutical sciences.
"Providing a comprehensive insurance program for OIC New is part of our strategy to expand our high-quality client portfolio and support innovative businesses in accessing specialized, internationally-aligned risk management tools."
Bao Viet has consistently ranked among the market leaders in revenue and market share.
- Related News
- Read More
Vietnam Airlines invests $69 mln in 2 projects at southern Vietnam airport
National flag carrier Vietnam Airlines on Sunday kicked off construction on an in-flight catering facility and an aircraft maintenance complex at the under-construction Long Thanh International Airport in southern Vietnam, with a total investment of nearly VND1.8 trillion ($69 million).
Infrastructure - Mon, June 16, 2025 | 9:41 pm GMT+7
Prime Minister okays 1,881-hectare free trade zone in central Vietnam
Prime Minister Pham Minh Chinh has approved the establishment of Danang Free Trade Zone (FTZ), which will cover approximately 1,881 hectares across seven non-contiguous locations.
Economy - Mon, June 16, 2025 | 9:25 pm GMT+7
Vietnam parliament passes historic revised law on local government organisation, establishing two-tier model
The National Assembly, Vietnam's legislature, on Monday endorsed the revised Law on Local Government Organization, with 100% of the 466 members present voting in favor.
Politics - Mon, June 16, 2025 | 5:01 pm GMT+7
Vietnamese fruit and vegetable export to EU grows 33% in 4 months
Vietnamese fruits and vegetables such as mangoes, pistachios, pineapples, and coconuts are gaining popularity in the European market, with export revenues rising sharply in Jan-April by as much as 41% to 200% year-on-year.
Economy - Mon, June 16, 2025 | 4:19 pm GMT+7
Vietnam's oil shipping major PVTrans to pay record high dividend
PetroVietnam Transportation Corporation (PVTrans), a subsidiary of state-owned Petrovietnam, will issue nearly 113.9 million shares to pay 2024 dividends, raising its charter capital to VND4,699 billion (over $180 million).
Companies - Mon, June 16, 2025 | 3:51 pm GMT+7
How retail giant Aeon Mall rapidly expands presence in Vietnam
Japanese retailer Aeon Mall has employed a consistent strategy to expand its footprint across Vietnam: partnering with domestic companies that possess land funds earmarked for commercial real estate development.
Real Estate - Mon, June 16, 2025 | 12:10 pm GMT+7
Two Vietnamese stocks face bourse delisting for information disclosure violations
Nam Song Hau Trading and Investing Petroleum JSC (PSH) and Koji Asset Investment JSC (KPF) are facing mandatory delisting from the Ho Chi Minh Stock Exchange (HoSE) due to serious breaches of information disclosure regulations.
Finance - Mon, June 16, 2025 | 9:20 am GMT+7
MBBank offers free app for business households' sales management, electronic invoice issuance
MBBank (MB) is offering its mSeller application for free – a solution to support sales management and issuance of electronic invoices exclusively for business households, small traders, and micro-sized enterprises.
Companies - Mon, June 16, 2025 | 9:05 am GMT+7
How to invest in a volatile Vietnamese stock market
After a strong recovery from the market bottom of 2025 on April 9, the VN-Index has entered a correction phase, with six out of eight sessions showing declines between June 4 and Friday, June 13.
Finance - Mon, June 16, 2025 | 8:00 am GMT+7
Third round of Vietnam-US reciprocal trade pact talks sees 'significant progress'
The third technical round of negotiations for a reciprocal trade agreement between Vietnam and the U.S. has concluded in Washington, D.C., with "significant progress made and gaps narrowed in all areas of negotiation," according to Vietnam’s Ministry of Industry and Trade.
Economy - Sun, June 15, 2025 | 9:57 pm GMT+7
HCMC seeks to expand infrastructure cooperation with Guangdong-Hong Kong-Macao Greater Bay Area
Ho Chi Minh City is aiming to expand cooperation with the Guangdong-Hong Kong-Macao Greater Bay Area (China) in infrastructure, one of the city’s key sectors following its merger with Binh Duong and Ba Ria-Vung Tau provinces.
Economy - Sun, June 15, 2025 | 8:00 pm GMT+7
Digital assets legalized in Vietnam
Vietnam has officially legalized digital assets with the approval of the Law on Digital Technology Industry by the National Assembly, the country's legislature, on Saturday.
Finance - Sun, June 15, 2025 | 3:07 pm GMT+7
$2.5 bln LNG power plant in northern Vietnam set for groundbreaking in late 2025
A $2.56 billion LNG-fueled power project in the northern Vietnam province of Thai Binh is slated to break ground later this year, according a project report dated June 2025.
Energy - Sun, June 15, 2025 | 10:06 am GMT+7
Vietnam’s tech unicorn VNG expects 2025 loss to narrow by 47%, plans name change
VNG Corporation, Vietnam’s first tech unicorn, projects a net loss of VND620 billion ($2.38 million) in 2025, down 47% from last year.
Companies - Sun, June 15, 2025 | 8:00 am GMT+7
Prime Minister suggests AstraZeneca build pharma factory in Vietnam
Vietnam is willing to license AstraZeneca immediately to build vaccine and pharmaceutical factories, said Prime Minister Pham Minh Chinh.
Industries - Sat, June 14, 2025 | 10:59 pm GMT+7
Sugary drinks subject to excise tax in Vietnam from 2027
Sugary drinks in Vietnam will be subject to an 8% excise tax starting in early 2027 and 10% from 2028, according to the adjusted Excise Tax Law, passed by the parliament on Saturday.
Economy - Sat, June 14, 2025 | 4:56 pm GMT+7
- Consulting
-
Rethinking resilience: How typhoon Yagi redefines supply chain strategies in northern Vietnam
-
Remove roadblocks to lure foreign investment into Vietnam: HSBC exec
-
AI can be a game changer for Vietnam tourism
-
In trade and investment, ASEAN and China are better together
-
Investment opportunities in LNG-to-power projects in Vietnam
-
Pepper prices 2024: will the dream of 'black gold' repeat?
