Case study: Regency for Expats sales thoughout Asean

As an expat, finding reliable health insurance is crucial for peace of mind while living abroad. Whether you're in Thailand, Vietnam, Singapore, or anywhere else, you want coverage that delivers when you need it most. Regency for Expats markets itself as an international health insurer tailored for globally mobile individuals, offering plans like Standard, Major Medical, Comprehensive, and Fully Comprehensive. But with growing concerns about claim denials, regulatory oversight, and company transparency, many expats are asking: Is Regency for Expats legitimate?

In this article, we'll dive into the facts based on user experiences, former employee insights, and independent research. We'll cover the company's background, red flags, real testimonies, and alternatives to help you decide if it's right for your expat life.

Understanding Regency for Expats: Company Overview

Regency for Expats is a trading name of Regency Assurance, a company registered in Nevis, a small Caribbean island known for its tax haven status. They claim to provide private health insurance for expats in over 120 countries, with no need for detailed medical history during the application process—just basic details like name, contact info, and payment method. This simplicity is appealing for expats on the move, but it raises questions about how they handle claims.

The company states it's regulated by the Financial Services Regulatory Commission (FSRC) in Nevis, but this oversight is minimal compared to regulators in the US, UK, or EU. Unlike major insurers like April, Henner, AXA, or Allianz, Regency doesn't have pre-existing contracts with hospitals for direct billing in many locations, meaning policyholders often pay upfront and seek reimbursement later. Their website emphasizes quick claims processing and high satisfaction rates (e.g., 84% in a 2025 survey), but online reviews tell a different story.

Red Flags: Regulation, Transparency, and Business Practices

One major concern is Regency's lack of regulation in most countries where expats live. Being based in Nevis means limited legal recourse if claims are denied—expats can't easily appeal to local authorities in places like Thailand or the UAE. Research shows no physical offices listed beyond postal addresses in Bangkok and Hong Kong, which users report as non-existent upon visiting.

Additionally, there's no mention of reinsurance partners, which reputable insurers use to back large claims. The application form's lack of medical questions allows easy sign-ups but enables denials based on "pre-existing conditions" that policyholders might not even know about. This clause includes conditions that "existed without your knowledge," which many reviewers call unfair and predatory.

Connections to brokers like NowCompare (allegedly owned by the same group) add to the skepticism. Former employees claim NowCompare pushes Regency plans exclusively, despite posing as independent, and employs staff to post fake positive reviews on sites like Trustpilot.

Testimonies from Former Employees: Insider Warnings

A former employee of Alliance International (which operates NowCompare) shared alarming insights in 2025: "Regency and NowCompare are owned and operated by the same people... The business model is to 'ACT' like an independent broker... but Regency is what you will see on top." They accused the company of faking reviews and employing a claims team with little expertise—led by figures like Douglas Wescott and Maria Cassidy—who allegedly delay and reject valid claims systematically.

The ex-employee highlighted Regency's unregulated status: "In stark contrast to reputable insurers like Cigna, AXA, or Allianz, Regency operates without regulation from any recognized governing body." This allows them to deny claims by citing loopholes, especially pre-existing conditions, since no medical history is collected upfront.

Client Experiences: Denied Claims and Frustrations

Dozens of expat reviews from 2023-2025 paint a picture of reliable small reimbursements but consistent denials for larger claims. Here's a selection of real testimonies:

• Chris Bailey (August 2025): "Refused claim after contradicting two separate MDs... VERY unsatisfied. I was sold a life insurance policy... I wasted THOUSANDS of Dollars."
• J.F. (July 2025): "I would give zero stars if I could... They refused to cover , claiming it was a 'pre-existing condition'... This feels like a deliberate attempt to avoid paying out."
• Peter Kessler (June 2025): "Never again with Regency... Immediate insurance coverage... but after three days, I developed severe abdominal pain... No reimbursement. I'm now in pain... and have asked the 24-hour emergency service for help, but have received no response."
• Philip Creech (June 2025): "Regency sold me a 15-year life insurance policy... They have dropped me, literally stealing more than US$ 6000. Scammers!"
• GK (December 2024): "They only cover small claims... For GBP 1000, they refuse to pay, citing pre-existing... Regency are 'regulated' in Nevis—which means you practically have no recourse."
• Ritwik Ghosh (December 2024): "Have used different insurance companies over last 20 years, but haven’t come across as malicious as Regency... They will play clients like a ping pong ball."
• Mark Mottershead (August 2024): "DO NOT USE!!!... If you find you have cancer... they won't pay out as it is deemed an UNKNOWN pre-existing condition... This is exactly what happened to me."
• TB (July 2024): "They only cover small claims... but if you have a larger claim, they will do everything in their power to NOT pay out... Pure scammers!"

Common themes include:

• Denials for "pre-existing" issues, even if undiagnosed.
• Delays in processing, requiring endless documentation.
• No empathy during emergencies, like surgeries or hospital stays.
• Fake reviews inflating ratings (e.g., Trustpilot detects and removes them).

On Trustpilot, Regency holds a 4/5 rating from 270 reviews, but 28% are 1-star, focusing on denied claims. Reddit threads and expat forums like ASEAN NOW echo this, warning of no real offices and poor recourse in Nevis.

Is Regency for Expats Worth It for Expats?

Based on the evidence, Regency for Expats appears legitimate in the sense that it exists and issues policies, but its practices raise serious doubts about reliability. It's cheap for a reason—low premiums often lead to denied claims, especially for major medical needs. If you're an expat in high-risk areas or with potential health issues, the lack of robust regulation and history of denials make it risky.

Pros (from positive reviews): Easy sign-up, quick small claims, responsive for quotes. Cons: Poor for large claims, minimal oversight, potential for fake promotions.

Alternatives for expats:

• Asean insurers: April, Lumahealth or Henner
• William Russell Insurance
• Allianz Care: Comprehensive plans with global networks.

Always check local regulations (e.g., for Thai visas, Regency may not qualify) and read policies carefully.

Conclusion: Final Advice for Expats Searching for Health Insurance

If you're considering Regency for Expats, proceed with caution. Read independent reviews, consult brokers not affiliated with them, and prioritize insurers with strong regulatory backing. Health insurance isn't just about cost—it's about protection when life abroad gets unpredictable.

For expats in Thailand, Vietnam, or beyond, shop around and verify claim payout rates. If you've had experiences with Regency, share them to help others.

As the year of the Snake starts, the Traffic decree 168 is an example of Vietnam year ahead

Vietnam’s newly issued Decree 168, set to take effect on January 1, 2025, enforces strict traffic regulations with harsh penalties. The law introduces severe fines of up to VND 20 million—equivalent to months or even years of disposable income—sparking fear and uncertainty among drivers.

The abrupt implementation has led to widespread panic, disbelief, and frustration, with many in the transportation sector considering quitting their jobs. The fear of financial ruin has disrupted daily commutes and stirred public outrage -most have sunk in the Bermuda triangle-.

As the situation unfolds, we take a comprehensive look at the facts about Vietnam’s traffic crisis, without venturing into predictions. As you can understand, this post belongs to what we previously called the “Bermuda Triangle of Information.” The precipitated decree captures how a single push for long-awaited road safety reforms can trigger unintended consequences, exposing deep flaws in execution and enforcement. We forecast more of such decrees coming up for 2025...

Decree 168: Enforcing Traffic Safety and regulations Now! Resulting in chaos in planning, decision, execution, communication, rectifying, follow-up... january 2025: Season #1

Confusion Peaks During Tet: Traffic Police Crackdown Raises Eyebrows

Just days into the joyous Tet celebrations, a traffic policeman—adorned with gold and a luxury watch—leads a PR campaign against drunk driving. While handing out hefty fines, he also rewards good drivers… with packs of beer?!

To better understand the decision 'at street level', we Mapminded the Vietnam Traffic decree 168 and its collateral damages

10 Lessons from the traffic decree 168 for managers-to-be

1. Plan your decision from the ground to the top: nto the other way round

Any traffic policeman knows if motorbikes can not turn right due to punishing fines, it is hundreds of bike riders stuck at the red light every 45 seconds. The national registration statistics shows 87% of the 100Mio Vietnamese drive a scooter daily. Let's do a bit of Maths now, on traffic hours and vehicles to regulate: in Hochiminh City alone roughly 10,000,000 vehicles will circulate during the rush hours from 7-to-9am. A cross-road will have a flow 2 red lights x45 seconds ie.1.5 min divided by 120min (2 hours) that is 80 stop-go periods to entertain 125,000 at each stop all over the city. Obviously if we shrink the map to the 1-of-10 busiest nod of the road network, those have to maintain a flow for 1.250.000 mainly motorbikes. I let your imagination calculate the number of hours lost as the 1,250,000 motos actually stop at the red lights, no turning right allowed without signage.

2. Show authority and Decide Vs Make a decision...

More as the decree 168 collateral damages unravel... to be continued

In conclusion:

Most people replicate what they are comfortable with. Shifting your mindset to adapt the new reality is the most difficult challenge a human being can achieve over his lifetime. May the Year of the Snake inspire us to change skin gracefully.

Part 2 of the ‘Unraveling Corruption in Vietnam - Catch 22’ series

The new law and regulation on vehicle ownership and registration will be strictly enforced.

Cracking Down on Motorbike Ownership and Registration

In Vietnam, motorbikes are more than just a mode of transportation; they are an integral part of the culture. However, over the years, this has led to lax practices in motorbike registration, opening the door to corruption and illegal activities. In a bid to curb these issues, the Ministry of Transportation recently introduced a new law that is set to be strictly enforced. Starting from 15th August, motorbike owners must have the registration card in their name and the original plate on the caveat, known as the "carte verte à legacy of French colonial administration." This article delves into the implications of this new regulation, focusing on the challenges it poses, especially for expatriates and motorbike enthusiasts.

The History of Non-Compliance

For many years, the practice of motorbike ownership and registration in Vietnam has been unique. It has been common for motorbikes to stay within families, passing from one generation to the next without the need to change plates or the caveat. Consequently, the Department of Registration has been registering a massive number of new motorbikes annually, approximately 1,000,000 countrywide. This culture of keeping motorbikes within families made any "extra service" for used motorbikes unwelcome, unless a certain "coffee money" was paid. Riding a family member's or friend's motorbike was as commonplace as breathing air in Vietnam.

New Regulation to Combat Theft and Scams

While this longstanding practice has had its merits, it has also led to certain downsides. A new trend emerged involving the theft of motorbikes and scams related to "borrowed" motorbikes that did not legally belong to the riders but were pawned for quick cash before disappearing. Furthermore, there were reports of illegal trading of "lucky number plates" within the police transportation registry. These plates, often ending in numbers 8 or 9, could fetch thousands of dollars without any money reaching the state's coffers.

Ministry of Transportation's Decree

In response to these challenges, the Ministry of Transportation decided to take immediate action. Their new decree, which came into effect within 30 days of its announcement, mandates that all vehicles should be registered under the name of the owner as per the model and number plate. This regulation aims to combat corruption and illegal practices that have plagued the vehicle registration system. However, its implementation has posed significant difficulties.

Challenges for Expats

This new regulation has created substantial challenges, especially for expats living in Vietnam. Expats often face a two-fold problem - firstly, they cannot legally sell and change the ownership of a motorbike without a proper Resident Card or a long-term visa of the buyer. Secondly, finding the previous expat owners, who may have sold the motorbike due to relocation, is an arduous task. The documentation required for this process is often incomplete, adding to the complexity of the situation.

The Unintended Consequences of the Decree

Since the 15th of August, the 30-day waiting period for the new decree has lapsed, and it has already begun to have unintended consequences. Second-hand motorbike dealers are struggling to trace back the original registration card owner, and many are on the brink of bankruptcy. Expatriates have become easy targets for the police to verify ownership through the carte verte. Additionally, enthusiasts who purchased "lucky number plates" without proper invoices are now facing fines.

The Need for Caution and Reevaluation

In this situation, it becomes evident that the swift implementation of the decree without a thorough assessment of the implications has led to a clear and present danger for many. It is crucial to recognize that the lower levels of government may sometimes mistake speed for efficiency, and decisiveness for smart decision-making. While the intent behind the regulation is to curb corruption and illegal activities, it is equally vital for the authorities to consider the practical challenges that have arisen due to its hasty implementation.

As we created a section about Time and Timing, this is fairly often that the low level of the government officers lead to inadequate decisions and decree mistaking speed with efficiency, or decisiveness with smartness. In this dead end situation, it is urgent to wait and see when the authorities will ‘Undecide’.

Estimated reading time: 4 minutes

Vietnam faces multiple challenges that prevent it from becoming a leading medical tourism destination. This comprehensive post highlights the major barriers to Vietnam’s growth as a medical tourism hub and offers a clear comparison with neighboring countries. 

Although neighboring countries like Thailand and Singapore have successfully positioned themselves as healthcare hubs, Vietnam is falling behind due to several factors:

1. Lack of a High-Quality Healthcare System

Over the past two decades, the demand for world-class healthcare services has been on the rise globally. Countries like Singapore and Thailand have become medical tourism hubs, attracting patients from around the world seeking top-notch medical treatments and facilities.

While some hospitals, such as FV Hospital, Vinmec, and AIH, offer modern facilities, the majority of Vietnam’s healthcare infrastructure is underdeveloped compared to leading medical tourism destinations. The high costs of management and ensuring international standards hinder wider improvements across the sector.

2. Shortage of Highly Skilled Medical Professionals

Vietnam has competent medical professionals, but they lack the extensive international training and collaborative culture seen in places like Thailand or Singapore. The country’s healthcare system also makes it difficult for foreign doctors to practice, limiting the sharing of global best practices. Multilingual medical staff is also scarce, limiting the appeal for international patients.

3. Limited Range of Specialized Medical Services

Vietnam offers basic medical services but lacks specialization in areas such as oncology, advanced cardiology, and fertility treatments. Holistic healthcare options, including wellness and rehabilitation centers, are not widely available, which limits Vietnam’s appeal for patients seeking comprehensive care.

4. Minimal Government Support and Inefficient Healthcare Policies

Unlike Thailand and Singapore, Vietnam’s government does not actively promote the country as a medical hub. Policies are not designed to foster growth in the medical tourism sector, and private hospitals are often seen as competition rather than partners in improving healthcare. The lack of transparency in government procurement and healthcare regulations further stifles the industry’s growth.

5. Poor Strategic Location and Accessibility for Medical Tourists

Despite its central location in Southeast Asia, Vietnam lacks dedicated visas for long-term medical patients or retirees. Overcrowded airports and insufficient infrastructure for medical evacuations also deter international patients.

6. Long Waiting Times Due to Bureaucracy

Vietnam’s healthcare system suffers from inefficiencies, including long waiting times for procedures, which contrasts with the streamlined processes in medical tourism hubs like Thailand. This creates a significant disadvantage for patients who prioritize speed and convenience.

7. Hygiene and Safety Concerns

Although Vietnam is politically stable, its healthcare infrastructure, particularly in hygiene and sanitation, does not meet global standards. This not only reduces patient confidence but also increases operating costs for hospitals.

8. Limited Cost-Effective Solutions and Packages

While Vietnam’s healthcare costs are lower than in Western countries, they are still not competitive enough compared to other medical tourism destinations in the region. Vietnam also lacks comprehensive, all-inclusive packages that cover medical treatment, post-operative care, and tourism, which are common in other countries.

9. Weak Tourism and Recovery Options for Patients

Post-treatment care facilities are scarce, and Vietnam lacks long-term medical visas. Although the country offers attractive tourism experiences, these are not effectively integrated into medical tourism packages, unlike in Thailand or Singapore.

10. Lack of Technological Innovation and Medical Research

Vietnam lags in adopting telemedicine and other health tech solutions that facilitate international healthcare. Additionally, the country does not prioritize medical research and development, limiting its ability to compete with leading medical tourism destinations that offer cutting-edge treatments and personalized medicine.

Conclusion

These combined factors hinder Vietnam’s ability to emerge as a top destination for medical tourism. The country lacks specialized services, government support, and a healthcare infrastructure that can compete with regional leaders like Thailand and Singapore. Without addressing these critical issues, Vietnam is likely to remain a less attractive option for international patients seeking high-quality, specialized medical care.

Estimated reading time: 8 minutes

Michelin Guide 2024: Challenges Facing Vietnam’s Culinary Scene - IP Rights and Brand Protection

The Michelin Guide 2024 has spotlighted Vietnam’s flourishing culinary landscape, drawing global attention and new accolades. However, this rise in recognition also introduces serious concerns for Vietnam’s gastronomic community. Critics and insiders have expressed worries about potential biases, questionable selections, and intellectual property issues that could threaten the guide’s credibility in the country.

Looking at this copy of the 'Michilen bib', the plaques and the pale copies of chefs recipes and venues are already looming to discredit the emerging Michelin Guide in Asia.

Bias Concerns Michelin’s Partnership -Sun Group?-: Michelin on protecting the brand reputation and integrity

One of the primary concerns revolves around potential biases in the selection process. The Michelin Guide’s close relationship with Sun Group, its main sponsor in Vietnam, has sparked discussions about impartiality. Critics suggest that this affiliation could lead to favoritism towards Sun Group-associated establishments, potentially sidelining deserving, independent restaurants. Such a perception risks undermining the Michelin Guide’s longstanding reputation for impartiality, which is rooted in recognizing culinary excellence.

As the Michelin Guide continues to expand beyond its traditional roots in France, it may be time to clarify the guide's evolving strategy and approach. This transparency would help readers understand any initial challenges, setting the stage for future, refined editions beyond the inaugural 2023 release.

Questionable Restaurant Eligibility and Standards: Michelin communicating on the Guide purpose

The Michelin Guide 2024 has spotlighted Vietnam’s flourishing culinary landscape, drawing global attention and new accolades. We found a Google-Map of the Michelin venues -Courtesy Mr Ho- so that foodies and fans do not get fooled by copycats or smart google experts far away from Chefs delivering culinary delights

To avoid any purposedly misleading disappointment You can use & share the Mapped Michelin selection: Hochiminh City | Michelin Danang | Michelin Hanoi

Is Michelin Vietnam Guide about star chefs and food, tourism with a culinary twist or a visitor’s Vietnam ambiance experience? 

Further complicating Michelin’s position in Vietnam are questions surrounding the eligibility and quality of some selected restaurants. Culinary experts and critics have highlighted inconsistencies in food quality and service among certain listings. There have even been cases where restaurants reportedly received recognition despite not meeting Michelin’s rigorous standards. These criticisms raise concerns that the guide may prioritize quantity and diversity in its local list over maintaining its traditional standards, potentially diluting the prestige associated with Michelin accolades. Local chefs, upon inspection of the Bib and “Selected” listings, have also expressed surprise at certain inclusions.

Read More: Part-2 Michelin Guide Vietnam 2024 - A Journey of Good Food and Tourist Experience

Intellectual Property (IP) and chef-brand protection Challenges in Vietnam’s Culinary Scene

Intellectual property rights and brand protection present another unique challenge for the Michelin Guide in Vietnam. IP enforcement has long been an issue across industries in Vietnam, including the culinary sector. 

Protect yourself and Michelin Guide will protect you eventually?

There are increasing concerns that some Michelin-labeled restaurants may be mimicking dishes, concepts, or even entire restaurant identities from established Michelin-recognized venues. This could mislead both local diners and international tourists regarding the authenticity of the Michelin selections.

For example, shortly after receiving a Michelin selection, one prominent French restaurant faced an unanticipated closure due to partner-related issues. In Vietnam, where property ownership can be challenging for foreigners and leasing options are expensive, especially in high-demand areas, finding reliable partnerships is critical. Additionally, the lack of comprehensive labor laws in the F&B industry makes maintaining quality staffing difficult.

Protecting Brand Identity in Vietnam’s Competitive Market

To sustain brand identity and safeguard culinary innovations, savvy strategies for SEO and social media branding are essential. Consider the famous “Bun Cha Obama” restaurant in Hanoi. Despite its iconic association with President Obama and Anthony Bourdain, the restaurant has faced brand challenges. Opportunistic entrepreneurs and tech-savvy individuals have used “bun cha ca Obama” as an online search term, and a competing chain named “Cha Ca Obama” has emerged, stretching from Hanoi to Ho Chi Minh City. Vietnamese chef-entrepreneurs must have a robust plan for safeguarding their brand names, ensuring they remain protected and exclusive.

Deterring “Copycat” Culture: IP Protection and Street Enforcement

Vietnam has gained a reputation for quickly replicating successful restaurant brands, recipes, and loyal customer bases. The iconic “Mien Cua Be 94” restaurant on 94 Dinh Tien Hoang Street, known for its crab noodle soup, faced a direct copycat competitor, “Mien Cua Be 94,” which opened at number 90 on the same street. Ironically, the copycat version secured a Michelin Guide selection. The prevalence of such cases in Vietnam underscores the urgent need for IP protection, enforcement, and clear branding practices to prevent customer confusion.

Conclusion: Michelin Guide’s Role in Addressing Vietnam’s Culinary Challenges

As the Michelin Guide 2024 continues to celebrate Vietnam’s culinary landscape, the challenges surrounding IP rights, brand, and chef name protection are more apparent than ever. The Michelin Guide’s integrity, alongside the country’s culinary reputation, is under close observation, with hope that transparency and fairness will guide future editions. This could also mark a pivotal opportunity for Michelin’s management to affirm its independence and commitment to its food-loving fan base worldwide.

So, why is it so difficult to recruit a good president for Vietnam's stability and growth?

In the past 20-months: Nguyen Xuan Phuc, Vo Van Thuong, Vo Dinh Hue, Nguyen Xuan Mai, Nguyen Phu Trong, To Lam, Luong Cuong... occupied Vietnam presidencies.

The calendar is dizzying in between deaths, resignations, dismissals and other nominations of high ranking Vietnamese presidents 'the 4 pilars'.

• 19-july-2024 Death of Nguyen Phu Trong, The Pilar, 1st general secretary of the Communist Party of Vietnam since 2011
• 22-May-2024 Nomination of Mr To Lam as president to replace Vo Van Thuong
• 2-may-2024 Trần Thanh Mẫn replaces Mrs Trương Thị Mai
• May-2024 Trương Thị Mai is nominated to replace Mr Vương Đình Huệ as president of the National assembly. But she refuses and request to quit all her high responsibilities in the politburo and the Vietnmam central party
• On 26 April 2024, another pilar, Mr Vuong Dinh Hue, president of the National assembly resigns.
• Elected on 2-mar-2023 Why did Vietnam new president Vo Van Thuong resign after one year on 20-march 2024?is the question everyone asks.

In the coming 18-months, to January 2026 National Party Congress for the new elections of the 2026-2030 national assembly, politburo and the 4 pilars to rule Vietnam. The fight for first secretary seat is available for immediate leadership, for interim to jan-2026 and/or internal feuds as what is going on since Covid-19.

We will write more on what are the 'Unique party' internal fighting forces, but more importantly how those internal forces freezes Vietnam development.

NURTURING From an early age communist party youth association to vietnam president

The communist youth of Vietnam is educated from elementary school on up to understand and live the values that President Ho Chi Minh delivered. Following this path they can become city top officials, secretary of the province, minister all the way up to the top 4 positions: currently Nguyễn Phú Trọng, 1st secretary of the party and politburo, Prime minister Phạm Minh Chính, chairman of the National Assembly Mr Vương Đình Huệ and the President Vo Van Thuong.

What is it that the youth are attracted to today?

• Youth attraction for consumption: goods, services, sex, drugs, addiction, higher education including in politics, expat lifestyle 
• Youth attraction for money, business and political power, go private or go foreign young man
• Youth and the power of Now: Today not Tomorrow the TNT ads says. In the age of selfie and instant delivery of Lazada or Grab, try to find any youngster interested in deferred gratification when the elder in power steps down when he reaches 65+, which means a loooong 35+ years wait!

RECRUITING president Vo Van Thuong with Ethics, Brain and Energy after Nguyen Xuan Phuc eviction and Tran Dai Nghia sudden death

When recruiting for a top position what you know is less important than who you know inside the apparatus. Who you know outside the party may become your achilles heel. For instance, best friend or married to a foreigner (or assimilated to) is a no-no to climb up the ranks. And of course, the salary and perks are meager dont attract the most ambitious talents. The best jump out to the private sector and let their politician friends inside, benefiting their network outside the low and rigid government salary scale.

• The doi moi can not happen, clean-up stalinian style is not possible as you would need to go top-down and sideways, and of course generational family screening… as you are expected to co-opt (bad mouth call it cronyism) but you should pay respect to the elders and show gratitude to the ones whom you destitute but still invited you to share part of their power some times ago, if you remember well.
• Experience is your enemy as you may have succumbed to tempting offers or donations ‘you can not refuse’. When eligible at the tender age of 55+ you probably have a long experience from the teenagers ranks of the PC youth to various city, region and ministry power of stamping licenses and authorizations. 
• When the salary at the end of a career is 1200$/month for a minister, it is impossible to attract talents willing to wait until you retire (or die as the top positions in the party have no age limit): any sane HR manager would give up. The saying goes ‘pay peanuts, get monkeys’. In a land of opportunity where everything is for grab for pioneers and entrepreneurs most Vietnamese with brain and energy goes private, let alone the famous business blood flowing naturally in any Vietnamese 

TRAIN the leader to climb up the rungs of from, party first secretary of Quang Ngai province, all the way up to President of Vietnam without succumbing to corruption temptation over the years

To be trained in the virtues of the party takes a long time. Preaching ethical conduct also takes lengthy hours of provincial, public and national assembly gathering. One of the most difficult and time consuming parts is advocating for growth with a very meager budget. Of course, leaders have to deal with sustainable development in Vietnam where infrastructures are poor, that includes the University higher education backwardness that explains Intel, NVidia and hi-tech powerhouses snail pace.
How under those circumstances, can a visionary leader emerge to lead Vietnam into AI, semicon, clean energy and sustainable development?

• As you climb up in power and travel, the temptation is great to be part of the many pleasures of the consumers world: from dinner at Salt Bae restaurant to owning a ferrari… not the best role model when the GDP per person  is 385$/month
• Paraphrasing Donald Trump, ‘as you are going to think anyway, think big’ As you have the power (of stamping authorizations), you may as well stamp big for you, for your family and friends in that order. A party leader needs daily training in order to avoid temptation to favor its tribe.
• Once you are in the place, you need training to stay aligned with the party, the leader, its decisions (regardless of anything), his family, his friends, his mentors inland, his godfathers abroad, the ever changing laws, the dissonant procedures, the pushbacks by civil servants, reaching 5-year plans targets with no budget etc… again difficult not to cross the multiple lines.

RETAIN & REWARD When a Vietnam President or minister salary only reaches a meager maximum salary of US$1200-to-1500/month at career’s end, the ‘dire need for money is the source of all evils’.

In the past 5-years 3 presidents exited after 30, 22 and 12 months in tenure instead of the usual 5-years renewable. In Vietnam, the President used to be a laid back straw man job, it has become a risky job at an average 1 year and 9 months in position. 

Whether the resignation of president Vo Van Thuong is a continuation of Mr Nguyen Phu Trong soon age 80, first secretary, ‘blazing furnace’ to eradicate corrupt officials or internal feud -taking the opportunity to weaken further old Mr Trong- to destitute his recently appointed protege, the problem is not who will take over to take the vacant seat of president.

The real question is who will take over the Vietnam central party after Mr Trong with the power and visionary leadership to take on the 21st century challenge of moving Vietnam above the low-middle income countries.

The mainly U35 generation -Educated, ambitious and hitech connected- is more than ready. 

• The authorized rewards are traveling and accommodation is Economy plus. If you are invited you can go wild, but you don't have the budget to reciprocate.
• You have Full power as long as ‘me and you stay in power’ and aligned 
• Then at retirement age, you can get extended play with privilege, as we will invite you to the league of party lifetime untouchables, in Buddha parlance, you reach ‘enlightenment’ after years of pure practice.

Estimated reading time: 8 minutes

The release of the Michelin Guide Vietnam 2024 is expected to reignite the debates that began with its first publication. The Michelin Guide in Asia, particularly in Vietnam, has faced criticism for not being "what it used to be" compared to the original Michelin Guide in France. However, this perspective needs to be understood in context.

The Michelin Guide originated in France as a benchmark for culinary excellence, focusing on the finest in food and hospitality. However, in the early 2000s, the guide faced a crisis as digital platforms like TripAdvisor emerged, offering user-generated reviews that threatened Michelin’s traditional model. To avoid bankruptcy, the Michelin Guide evolved from being a purely gastronomic French review into a broader culinary and food guide that now encompasses a wider range of dining experiences in each country it is published.

In this 3 parts article on Michelin brand and standards communication and controls in developing countries like Vietnam and Asean:

1. We will delve into the historical evolution of the Michelin Guide in France then in Asia, exploring how it transitioned from a French culinary authority to a global foodie's guide. 
2. We will also clarify the significance of Michelin stars, Bib Gourmand, and Selected restaurant distinctions, specifically within the context of Vietnam and Asia. These changes have sparked controversy among traditionalists who argue that the guide's expansion and diversification have diluted its original purpose.
3. Finally, the Michelin Guide's operations in developing countries like Vietnam have raised further concerns: the control of IP rights and the brands control. The risk of biased commercial selections, misled patrons, Michelin inspectors, and the misuse of the Michelin brand have come under scrutiny. Issues such as copycat signature dishes by rogue ex-employees and brand infringements highlight the challenges Michelin faces in maintaining its integrity in rapidly developing markets.

As the Michelin Guide continues to expand in Vietnam, the ongoing debates around its role and relevance are likely to persist, particularly as it navigates the complex dynamics of a global culinary landscape that is far different from its origins in France.

The Michelin Guide to Vietnam: A Historical Journey from France to Global Culinary Influence

The Michelin Guide, one of the world’s most revered culinary references, began its journey in France in 1900. 

Initially, the guide was conceived by the Michelin brothers, André and Édouard, as a promotional tool for their tire company. Aimed at encouraging automobile travel, the guide provided useful information such as maps, tire repair instructions, and a list of restaurants and hotels. Its restaurant recommendations, however, quickly became its most popular feature, setting the stage for the Michelin Guide's future as a culinary authority.

Throughout the 20th century, the Michelin Guide's influence grew exponentially. 

By the mid-century, it had established a rigorous and secretive inspection process, awarding one, two, or three stars to restaurants based on the quality of their cuisine. These stars became coveted symbols of culinary excellence. By the early 2000s, the guide had solidified its reputation as the ultimate arbiter of fine dining in France and, gradually, in other parts of Europe.

However, the early 2000s brought challenges that nearly led to the guide's demise. 

The rise of online review platforms like TripAdvisor and the proliferation of competing restaurant guides threatened Michelin’s dominance. The traditional model of anonymous, professional inspections was increasingly seen as out of touch in a digital age where user-generated content was gaining trust. As a result, the Michelin Guide faced declining sales and relevance, pushing it to the brink of bankruptcy.

The Michelin Guide embarked on a bold revival strategy. 

Under the leadership of Gwendal Poullennec, appointed CEO in 2018. Previously head of Marketing, Poullennec expanded the guide's reach, accelerating its internationalization with editions in new countries across Asia, North America, and beyond. He also embraced digital transformation, incorporating user feedback and enhancing the guide's online presence. This strategy not only revived the Michelin Guide but also strengthened its position as a global culinary benchmark.

Today, the Michelin Guide continues to be a symbol of excellence, evolving with the times while maintaining its core values of quality and tradition. Its journey from a humble tire company’s bulletin

The US Department of Commerce conducted this review of Vietnam’s status as a non market economy (NME) country in response to a request by the Government of Vietnam on September 8, 2023, within the context of a changed circumstances review (CCR) of the U.S. antidumping (AD) order on raw honey from Vietnam. As the GOVN submitted sufficient justification for a reevaluation of Vietnam’s NME status, US Commerce determined that good cause existed to initiate its review on October 30, 2023. Since 2022, Vietnam exports to the USA has been decreasing (see graphics); a Market Economy recognition would attract favorable nations taxation tarifs on imports by the USA thus boosting Vietnam exports volumes.

In response to Vietnam’s request to reconsider its 2002 classification as a non-market economy (NME) under U.S. antidumping (AD) law, the U.S. Department of Commerce has reaffirmed Vietnam’s NME status in a 2024 review. This conclusion follows a comprehensive analysis of Vietnam's economy, focusing on key structural issues that continue to hinder its full transition to a market economy. Despite significant reforms since the 1986 launch of “Doi Moi,” Vietnam’s persistent government intervention in economic decision-making still distorts pricing and resource allocation. This review considers six statutory factors, highlighting ongoing challenges despite Vietnam's impressive growth.

You can access the US Commerce dept Vietnam NME 284-page decision review. The Subscriber/Insider's resources folders are securized by Google, you may have to provide an email address or email me your request to Editor@riskinAsia.com

Background and Economic Reforms in Vietnam

Vietnam embarked on the Doi Moi reforms in 1986 to transition from a centrally planned economy to one more aligned with market principles. These efforts have been largely successful in fostering rapid economic growth. According to the International Monetary Fund (IMF), Vietnam's per capita GDP growth since 1990 ranks second only to China, and its poverty reduction has been remarkable, lifting 40 million people out of poverty between 1993 and 2014.

Despite joining the World Trade Organization (WTO) in 2007 and further integrating into the global economy, the U.S. Department of Commerce first classified Vietnam as an NME in 2002. That classification meant U.S. antidumping duties applied to Vietnamese goods are based on pricing comparisons with other countries, due to concerns that Vietnamese prices do not accurately reflect market conditions. Vietnam's government requested a review of this status in 2023, citing ongoing reforms, but Commerce's review concluded that significant challenges remain.

Key Factors in Commerce’s Analysis of Vietnam economy

1. Currency Convertibility: the Ministry of Finance allocates the rights

Since 2002, Vietnam has made progress toward currency convertibility, including assuming IMF Article VIII obligations, which promote the convertibility of goods and services. The Vietnamese dong's trading band has been expanded, and the government has reduced its intervention in the foreign exchange market. However, the State Bank of Vietnam remains under government control, and the dong was listed as a manipulated currency by the U.S. Treasury until 2022. While Vietnam has made strides, restrictions on convertibility remain, keeping the country from full currency liberalization.

2. Wage Determination: MOLISA Vietnam Ministry of Labour Invalids and Social Affairs

Vietnam has passed new labor laws, most notably the Vietnam Labor Code of 2019, which allows the formation of unions and collective bargaining. However, the state-controlled Vietnam General Confederation of Labor (VGCL) remains the only legal union, limiting workers' ability to freely organize or strike. This lack of independent labor representation continues to prevent truly free bargaining between labor and management, a key characteristic of a market economy.

3. Foreign Direct Investment (FDI) Environment: the MPI ministry of plan various 'sensitive' sectors

Vietnam has become one of Southeast Asia’s most open economies to foreign investment, a major achievement of its reform efforts. Foreign direct investment (FDI) has risen steadily, driven by Vietnam’s economic openness. However, significant barriers remain, such as restrictions on FDI in certain sectors, lack of regulatory transparency, and weak intellectual property protections. While FDI is crucial to Vietnam’s growth, these challenges prevent Vietnam from fully capitalizing on foreign investment opportunities.

4. State Ownership of Production: favorable attribution of land and capital to the happy few

Under the Doi Moi reforms, Vietnam’s state-owned enterprises (SOEs) have seen a reduction in their role in the economy, with their contribution to GDP falling from 40% in 2002 to a range between 20.6% and 30.2%. However, Commerce notes that official data likely underestimates the influence of SOEs. Many SOEs continue to receive favorable treatment, such as access to capital, leaving the private sector at a disadvantage. Additionally, the state retains control over land use, with all land being government-owned, limiting private ownership and control. As a result, SOEs still play an outsized role in key sectors of the economy, distorting market forces.

5. Government Control Over Resource Allocation: dual-pricing and randomness in license attribution

Despite improvements in reducing government control over the economy, Vietnam’s state sector still receives preferential treatment, especially in accessing capital. The government has reduced price controls over commodities since 2002, but considerable state planning remains. This means that while the private sector has grown, especially foreign firms, the government continues to influence major economic decisions. State-directed lending and planning prevent the market from fully allocating resources based on supply and demand principles.

6. Legal and Institutional Challenges: for 3 castes the State owned, locals and foreign companies

Legal reforms in Vietnam, such as the Anti-Corruption Law of 2018, have aimed to improve governance and transparency. However, the Communist Party of Vietnam's pervasive influence over the judiciary weakens law enforcement and transparency. Corruption remains a significant issue, and the inconsistent application of laws continues to deter foreign investment and undermine the rule of law. These legal shortcomings further complicate Vietnam's path toward becoming a fully functional market economy.

Vietnam Public Involvement and Data Sources

The Department of Commerce’s review involved input from various stakeholders, including public comments and a public hearing held in May 2024. Commerce also used data from credible international sources, such as the World Bank, IMF, and the Organization for Economic Cooperation and Development (OECD). This comprehensive approach ensured that the analysis was both thorough and transparent, using a blend of legal (de jure) and practical (de facto) insights into Vietnam’s economic conditions.

Conclusion: Vietnam’s Ongoing NME Status

Commerce’s determination to retain Vietnam's NME status stems from a collective analysis of the six statutory factors, revealing persistent government intervention and control in critical areas. While Vietnam has made significant progress since 1986, its economic system continues to fall short of full market economy status. Key areas such as currency convertibility, labor freedom, foreign investment, and government control over resources still show substantial government influence, distorting market conditions and making accurate pricing difficult.

As such, Commerce concluded that Vietnam remains a non-market economy for the purposes of U.S. AD law. This status will continue to affect U.S. trade policies with Vietnam, particularly in how antidumping duties are calculated on Vietnamese imports, until further market-oriented reforms are implemented. Vietnam’s journey toward full market economy status is far from complete, and deeper structural reforms are necessary to fully integrate Vietnam into the global market system.

Implications for Vietnam and the U.S. beyond 2024

The decision to maintain Vietnam’s NME status holds significant implications for trade relations between the two countries. For U.S. companies, it means that anti dumping measures on Vietnamese goods will remain stringent. For Vietnam, the decision highlights the need for continued reforms, particularly in reducing state influence over the economy and improving legal frameworks. The U.S. will likely maintain a cautious approach toward Vietnam’s economic status, despite the country’s rapid growth and increasing importance in global trade networks.

Ultimately, while Vietnam has made great strides in reforming its economy, the path to achieving full market economy recognition by the U.S. remains challenging, requiring more substantial changes to how the government interacts with and controls its economic institutions.

New Expat in Asia? Selecting the right health coverage can be overwhelming

Our correspondant in Thailand caught our attention on 2 fake insurers promising benefits and coverage to Expatriates and retirees then denying their claims for medical treatment of expensive treatments and chronic conditions. Thousands subscribers of WRLife health insurance ended up purchasing a 'too good to be true' insurance and having to pay for their hospitalization medical bills. The same goes with Regency For Expats Insurance.

We look at a real case study of a fake insurer. This article uses public information and complaints to review: WRLife health insurance in Asia

Introduction: an Investigative Report on WRLife Health Insurer

In the ever-evolving landscape of health insurance, customers seek stability, transparency, and reliability from their insurers. However, WR Life, a health insurance company that has been the subject of numerous complaints, raises concerns about its compliance and legitimacy. 

Our team made this investigative article that explores the history of complaints against WR Life, categorizes the issues, and attempts to determine whether the company is a non-compliant or fake insurer.

WRLife Medical insurance Claim Denials and Delays

Category: Claim Processing Issues

Issue: One of the earliest reported problems with WR Life involved significant delays in processing claims. Customers reported that their medical claims were either denied or took an unusually long time to be processed, despite being covered under their policies.

Impact: Clients faced financial stress due to out-of-pocket expenses for treatments that should have been covered by their insurance.

Category: Customer Service Problems

Issue: As the year progressed, more complaints emerged regarding the company's customer service. Clients cited long wait times, unresponsive representatives, and a general lack of support when trying to resolve issues with their policies or claims.

Impact: Frustration and confusion among policyholders, leading to a lack of trust in the insurer's ability to manage their accounts effectively.

Category: Corporate Governance and Stability

In July 2023, WR Life underwent a major restructuring. All Thai partners resigned, and the company was rebranded as "WRLife Claims and Operations Management." This sudden change led to uncertainty among clients regarding the future stability of the company and whether WRLife was re-insured properly by a financially strong insurer at all?

Impact: Policyholders were concerned about the security of their coverage and whether their claims would be honored moving forward (ASEAN NOW).

Policy Management Issues

Category: Policy Management and Transparency

Issue: Toward the end of 2023, complaints about policy management became more frequent. Clients reported unexpected changes to their coverage without prior notification and felt pressured by brokers to switch policies or insurers.

Impact: Increased suspicion among clients that the company was engaging in unethical practices, further eroding trust.

November 2023: Increased Online Complaints

Category: Public Perception and Reputation

Issue: By November 2023, online forums were abuzz with discussions about WR Life's questionable practices. Customers shared their experiences, warning others to be cautious when dealing with the company. Concerns about the insurer's legitimacy became a dominant theme in these discussions.

Impact: A growing consensus that WR Life might not be a trustworthy or compliant insurer (source Financedevil).

A quick look at Trust pilot website -any one can register and rate its own site!... not so trustworthy-, gave our consultants trained eyes a hint that the 3.3 was manipulated as a\in real world the 3.3 would be made by a Gaussian curve -a bell curve where the 3.3 would be the top of the bell. Here any low 1-star complaint is immediately counterbalance by a top rated 5-star, probably by their declared India-based office team? Click on the picture to read more and notice after 1 star bad review, immediately a few 5-star reviews follow, mostly written in the same boasting style and format.

Conclusion: Is WR Life a Rogue Insurer?

The numerous complaints against WR Life, coupled with the company's sudden restructuring and ongoing issues with claim processing and customer service, raise serious concerns about its compliance and legitimacy. While it's challenging to definitively label WR Life as a rogue or fake insurer without further regulatory investigation, the patterns of behavior and client experiences suggest that it may be operating in a manner that is not fully compliant with industry standards.

Consumers should approach WR Life with caution, carefully reviewing any policy terms and staying vigilant about changes to coverage or company practices. The current evidence points to a company struggling with compliance and customer trust, making it essential for potential and current policyholders to be aware of the risks involved.