Milestones and achievements, 20 years of development
Opening of Vietnam: doi moi policy
CB gets official representative office license,
– Foreign investors, expatriates and consultants leave Vietnam
July 1997 Hong Kong handover to China.
Asia financial crisis.
Too much loan to Asia.
August 1998: Russia default on debts. Too much loan to developing countries
Stock Markets in turmoils
2000-2003: Dotcom buble explodes
Vietnam stock market opens
CB close down due to financial meltdown.
IF Consulting is founded as a LLC
– STOP Financial planning
– FOCUS on Insurance for Expatriates. SARS outbreak comes as a boost to business.
– Recruit more International consultants to service clients worldwide as Expatriates come and relocate.
Feb-2003: SARS respiratory syndrome outbreak in Vietnam. Medical insurance in Vietnam booms!
Vietnam grants non-life business licenses to foreign insurers. New products and new markets open.
Open Hanoi office
– Foreign presence increase, all assets need insurance.
– IFC develops on growing needs on employee medical/accident benefits in Asia (China) and worldwide
Vietnam stock market attracts foreign investment funds. China attracts even more talents and capital.
Stock Markets melt down
IFC incorporate as a Joint-Stock company to destined to consulting partners and financial investors.
2008-2011 subprime mortgage lending crisis. Too much lending to poor people.
2011-today Eurozone debt crisis.
Too much lending to poor countries