Vietnam increases insurance investment in Laos
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The LAP company has a charter capital of $1.5 million equally contributed by the Laos Development Bank (LDB) and Vietnam’s Post and Telecommunication Insurance Joint Stock Corporation (PTI).
During 30 years of operation, the company will provide life insurance and non-life insurance, finance investment and other activities in accordance with Laos’ laws.
Addressing the inaugural ceremony on October 11, Lao and Vietnamese officials expected the establishment of the LAP company will contribute to boosting economic, cultural, trade and scientific and technological co-operation between the two countries and promoting the development of Laos’ finance and insurance.
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