Deputy Minister of Finance Tran Xuan Ha grants investment licence to Prudential Vietnam general director Wilf Blackburn in the presence of Prime Minister Nguyen Tan Dung and his visiting British counterpart, David Cameron. — Photo Prudential Vietnam

HA NOI (Biz Hub) — Prudential Vietnam has said it will invest VND3.2 trillion (US$147.7 million) in 20-year government bonds.

The British company announced this at a ceremony held in Ha Noi on July 29 where it received an investment licence from the Ministry of Finance in the presence of Prime Minister Nguyen Tan Dung and his visiting British counterpart, David Cameron.

Wilf Blackburn, Prudential Vietnam general director, said his firm's long-term investment strategy strongly reflects its commitment to doing business in Viet Nam.

Its investment in Viet Nam's first issue of 20-year bonds also revealed its belief in the country's socio-economic development, he said.

Earlier this month the State Treasury announced plans to issue VND6 trillion ($276.8 million) worth of bonds targeting securities companies operating in Viet Nam. The issue will be completed between July 29 and December 31.

Prudential came to Viet Nam in 1995 and has since provided insurance services to millions of Vietnamese through over 200 customer service centres, branches, and partner offices. — VNS