Information

This barrier is unrelated to the end of the transition period, following the United Kingdom's departure from the EU.

Public ID: PID-9NRXPB

Reduced restrictions for UK life insurers operating in Vietnam

in Vietnam

Trade barrier summary

Vietnam's Law on Credit Institutions 2024 took effect from 1 July 2024. Clause 5, Article 15 of the legislation made it unclear whether banks and insurance companies could sell bancassurance. This impacted bancassurance activity in Vietnam.

The State Bank of Vietnam has since provided clarity on the new law’s implementation. It has confirmed that UK banks and insurance companies are allowed to sell bancassurance when customers voluntarily buy life insurance.

Sectors affected

  • Financial and professional services

Resolved

Yes - October 2024

Date reported

22 April 2024

Last updated

22 October 2025

Public ID

PID-9NRXPB

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