Riot-affected firms get $1.9 million compensation

Monday, Jun 23, 2014 17:14

Fubon Insurance Company gives certificates of compensation to its customers in Dong Nai Province.— Photo

HA NOI (Biz Hub) — Insurance companies have paid about VND40 billion or US$1.9 million as advance compensation to 35 enterprises which were affected by the recent incidents in the southern Dong Nai province.

The compensation was handed over to 30 Taiwanese firms, two Chinese companies and three Vietnamese enterprises in the province on June 22.

The companies were among 165 firms whose assets were damaged in a riot that erupted in protest against China's illegal placement of an oil rig Haiyang Shiyou 981 in early May in Viet Nam's continental shelf and exclusive economic zone.

According to the provincial Industrial Zones Authority, most of the firms have resumed their normal operations.

Deputy Finance Minister Tran Xuan Ha praised the efforts of the insurance companies such as Bao Viet, Bao Minh, Cathay, PJICO, Fubon, MSIG, PVI, Vinare, PTI and Hung Vuong in fulfilling their commitments and responsibilities towards their clients, and helping the affected firms stabilise their production activities.

Ha added that the Vietnamese Government was always determined to ensure a safe and favourable investment environment for enterprises, especially foreign investors.

Meanwhile, Tran Xuan Phuc, the provincial People Committee's deputy chairman, said the province would extend the maximum support to enterprises to help them overcome their difficulties and develop their businesses in Dong Nai.

Pham Xuan Nam, a representative of the Taiwanese Johnson Wood Company based in the Tam Phuoc Industrial Park in Bien Hoa city, told Bao dau tu (Investment Newspaper) that the advance payment of VND15 billion or $714,000 in compensation would help the company to restart its operations.

Chen Chih Ming, head of the Taiwanese Enterprises Association's Dong Nai Branch, said the province, which has good facilities, infrastructure and human resources, would attract more investors, especially from Taiwan.

Early this month, insurance companies paid more than VND100 billion or $4.76 million in advance to enterprises in the southern province of Binh Duong for the same reason. — VNS

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