Vietnam, US firms ink deals on sidelines of ASEAN-US Summit

Tuesday, 2016-02-16 11:24:47
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Corporations of Vietnam and the United States inked several deals on the sidelines of ASEAN-US Summit. (Image for illustration – Credit: VNA)
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NDO/VNA – Corporations of Vietnam and the United States on February 15 (US time) inked several deals in the presence of Prime Minister Nguyen Tan Dung on the sidelines of the ongoing special ASEAN-US Summit in Sunnylands, California.

The Bank for Investment and Development of Vietnam (BIDV) signed an agreement with BIDV Metlife Life Insurance Limited Liability Company, a joint venture between US-based Metlife and BIDV, on expanding life insurance business in Vietnam.

Accordingly, the two sides will exchange information and experience as well as introduce opportunities in finance and life insurance to each other. Additionally, BIDV Metlife will help BIDV develop Bancassurance, an insurance product sold at banks, and several personal financial services.

Also during the signing ceremony, Vietnam’s Bien Dong Seafood, Co. Ltd and Thai Group signed co-operation deals with the US’s H2Origins Seafood Inc and Hyatt Hotel Corporation.

Bien Dong Seafood and H2Origins Seafood will work together to raise seafood sales in the US market to more than US$300 million over the next three years. They also target to boost their market share to over 40% by sharing market intelligence and developing new high-quality seafood products for the US.

Meanwhile, Thai Group and Chicago-based Hyatt agreed to build a US$165 million Park Hayatt hotel in Hanoi. The 300-room hotel is expected to be operational in 2018.