Allianz Trade in Asia Pacific has launched its first office in Vietnam, signalling the company’s entry into the country’s growing trade credit insurance market.
The new office – based in Ho Chi Minh City – will provide trade credit solutions to Vietnamese exporters, aiming to support businesses as they navigate both domestic and international trade environments.
Allianz Trade noted that Vietnam’s economy has experienced sustained growth over recent decades, averaging approximately 7% annually prior to the COVID-19 pandemic.
Between 2020 and 2022, the country maintained an average growth rate of 4.7%. In 2024, a rebound in global trade – particularly in consumer electronics – helped drive Vietnam’s economic expansion to 7.1%.
Looking ahead, Vietnam is expected to remain a key player in global supply chains, despite the possibility of facing higher tariffs from the US compared to other ASEAN countries.
Sectors such as electronics, machinery, and footwear, as well as ongoing infrastructure investment, are anticipated to underpin economic momentum.
Allianz Research projects that Vietnam’s GDP will grow by 6% in 2025 and 6.1% in 2026.
As part of its expansion, Allianz Trade has named Ly Dao as country manager for Vietnam, effective September.
Dao will oversee the company’s operations, including strategic planning, regulatory compliance, and business development. She will also serve as the company’s legal representative in Vietnam, maintaining relationships with regulators and industry partners.
Dao’s remit includes developing partnerships with brokers, banks, and other stakeholders, as well as promoting trade credit insurance products.
She will coordinate with regional and global teams to ensure alignment with broader business objectives and will lead local sales and risk management teams, focusing on workforce development and operational effectiveness.
Dao brings more than 17 years of experience in the insurance sector, having held senior roles at organisations such as Unity Willis Towers Watson, Allianz Partners, Marsh, Liberty Mutual Insurance, and Allianz Insurance.
Her expertise spans business development, partnership management, sales, and risk management.
Rodrigo Jimenez, regional CEO for Allianz Trade in Asia-Pacific, described the Vietnam expansion as a strategic move.
“Apart from increasing our investments in India in 2023, Vietnam has long been on our list for expansion. It is a relatively open economy with a growth model based on trade; it has transformed into a competitive manufacturing hub in recent years; and it has demonstrated an ongoing shift towards higher value-added sectors. All these justified our move into the country,” he said.
He added that the company aims to support clients as they diversify supply chains and relocate operations to Vietnam.
“We want to be there to serve and guide our customers and to achieve mutual growth amid this ever-changing business environment,” Jimenez said.
Dao also commented on her new role: “Vietnam is a dynamic and fast-growing market. Together with our talented colleagues and partners, I am confident that we can unlock great potential, achieve remarkable success, and create lasting value for our customers.”
