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Bao Viet compensates riot-hit FDI enterprises

Update: June, 10/2014 - 08:47

BINH DUONG  (VNS) — Bao Viet Insurance Company on June 6 compensated some foreign direct investment (FDI) enterprises affected by recent riots in southern Binh Duong Province with nearly VND27 billion, or US$1.28 million.

According to Bao Viet Deputy General Director Nguyen Quang Phi, the payments included $1 million for Esquel Company, $33,330 for Mega Step Company, $23,800 for CSB Company and $4,760 for Alhonga Company, and $14,280 for Viet Hsing International Garments Company.

An individual investor from Taiwan was also advanced over $9,500.

An Esquel representative stated that insurance officials rapidly assessed damages at the local factories and assisted the firms in resuming normal production activities within two weeks. "The cash advance has helped us much in this tough time," the representative noted.

Phi stated that the quick support for businesses was in line with the government's resolve to ensure community interests and social welfare. — VNS


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