Former Techcombank CEO makes swift exit from tech giant VNG

By Tri Duc
Fri, March 24, 2023 | 11:39 pm GMT+7

Former CEO of Techcombank Nguyen Le Quoc Anh has resigned from VNG Corporation's board of directors due to "personal reasons" after just three months in the position, the tech firm announced on Thursday.

 Nguyen Le Quoc Anh. Photo courtesy of VietTimes magazine.

Nguyen Le Quoc Anh. Photo courtesy of VietTimes magazine.

Anh joined VNG as an independent board member in December 2022, shortly before the firm's debut on the unlisted public company market (UPCoM) on January 5, 2023.

He was head of strategies and development at Techcombank from May 2015 and was appointed deputy general director from January 2016. Anh became the private lender's general director in September 2016. He left the bank in September 2020 due to "personal reasons".

VNG, a leading technology services provider in Vietnam, had a shuffling in January as the firm named Vo Sy Nhan as its new chairman, replacing Le Hong Minh. Nhan has been a VNG board member since the firm's extraordinary general meeting of shareholders at the end of last year, for the term 2022 - 2025. Meanwhile, Minh, the founder of VNG, remains a general director of VNG.

VNG Corporation reported a loss of more than VND1.32 trillion ($56 million) in 2022, a record since its business indices went public for the first time and breaking its loss target of VND993 billion ($42.35 million). Its net revenue reached VND7.8 trillion ($332.63 million), up 2% year-on-year, according to the company's consolidated financial statement last year.

VNZ shares closed the Friday trading session at VND865,000 ($36.77).

Comments ( 0)
  • Read More
Savico chairman says major shareholders have no divestment plans

Savico chairman says major shareholders have no divestment plans

SavicoThe chairman of Vietnam's largest automotive distributor Savico said the company has withdrawn a planned share issuance to existing shareholders after its major shareholders indicated they had no intention of reducing their stakes.

Companies - Fri, June 5, 2026 | 8:13 pm GMT+7

Priced for crisis, primed for growth: Vietnam’s bifurcated stock market

Priced for crisis, primed for growth: Vietnam’s bifurcated stock market

The VN-Index is trading at a 13x forward P/E valuation versus 15% expected earnings growth in 2026, but over 70% of the market is trading at below a 10x P/E, a valuation which is consistent with past crisis conditions, writes Michael Kokalari, chief economist at VinaCapital.

Consulting - Fri, June 5, 2026 | 4:56 pm GMT+7

Retail sales surge as major chains post strong profit growth

Retail sales surge as major chains post strong profit growth

Vietnam's retail sector posted stronger-than-expected growth in Q1/2026, supported by government stimulus measures, improving disposable incomes, and a continued shift toward modern retail channels.

Companies - Fri, June 5, 2026 | 3:50 pm GMT+7

Vietnam seeks transparent, internationally aligned framework for crypto asset market: Deputy PM

Vietnam seeks transparent, internationally aligned framework for crypto asset market: Deputy PM

Vietnam aims to develop a transparent and secure crypto asset market in line with international standards, Deputy Prime Minister Nguyen Van Thang said during a meeting with Ben Zhou, co-founder and CEO of Bybit - a major global cryptocurrency exchange headquartered in Dubai.

Finance - Fri, June 5, 2026 | 1:26 pm GMT+7

Vietnam stocks await MSCI review, earnings season for fresh momentum in June

Vietnam stocks await MSCI review, earnings season for fresh momentum in June

Vietnam's stock market may find support later this month from a potential market status upgrade-related review by MSCI and the upcoming half-year earnings season, after entering June on a cautious note amid weakening liquidity and persistent foreign selling.

Finance - Fri, June 5, 2026 | 11:54 am GMT+7

TikTok eyes expansion into logistics, digital finance in Vietnam

TikTok eyes expansion into logistics, digital finance in Vietnam

TikTok is seeking to expand its presence in Vietnam beyond social media and e-commerce, with plans to invest in logistics, digital finance and other digital economy infrastructure sectors as the country becomes an increasingly strategic market for the company.

Companies - Fri, June 5, 2026 | 8:40 am GMT+7

Petrolimex seeks to sell entire treasury stock holdings as shares remain 43% below peak

Petrolimex seeks to sell entire treasury stock holdings as shares remain 43% below peak

Petrolimex, Vietnam's largest fuel retailer by market share, plans to sell its entire treasury stock holdings to comply with public company regulations, while its PLX shares on the Ho Chi Minh Stock Exchange plunged 43% from the peak reached in March.

Companies - Thu, June 4, 2026 | 4:51 pm GMT+7

MB's digital business account opening solution wins award

MB's digital business account opening solution wins award

BIZ MBBank, a corporate digital banking platform of Military Commercial Joint Stock Bank (MB), has been recognized at the Vietnam I4 Impact Awards 2026 for its digital business account opening solution, underscoring the lender's efforts to advance digital banking services for corporate customers.

Companies - Thu, June 4, 2026 | 3:42 pm GMT+7

Chinese electronics component manufacturer redirects capital to Vietnam project

Chinese electronics component manufacturer redirects capital to Vietnam project

Shenzhen Click Technology’s decision to channel funds into its Vietnam project underscores the country’s growing importance in the company’s global strategy.

Industries - Thu, June 4, 2026 | 2:33 pm GMT+7

Vietnam targets launch of central counterparty clearing mechanism in early 2027

Vietnam targets launch of central counterparty clearing mechanism in early 2027

Vietnam's securities regulator is aiming to launch a central counterparty clearing (CCP) mechanism in the first quarter of 2027, a key step in strengthening market infrastructure and meeting international criteria for a stock market status upgrade.

Finance - Thu, June 4, 2026 | 1:57 pm GMT+7

Becamex: From failed capital raisings to state divestment pressure

Becamex: From failed capital raisings to state divestment pressure

After multiple unsuccessful capital-raising attempts, Vietnam’s industrial real estate giant Becamex IDC (HoSE: BCM) is now facing a new challenge: reducing state ownership from 95.44% to 65% to meet the requirements for maintaining its status as a public company.

Companies - Thu, June 4, 2026 | 11:29 am GMT+7

Banks regain lead in Vietnam's private placement bond market in May

Banks regain lead in Vietnam's private placement bond market in May

Vietnamese banks regained their position as the largest issuers in the private placement bond market in May, as lenders sought to diversify funding sources, strengthen capital buffers,and meet increasingly stringent regulatory requirements.

Banking - Thu, June 4, 2026 | 9:15 am GMT+7

From refreshment to experience: A consumer trend emerging this summer

From refreshment to experience: A consumer trend emerging this summer

As temperatures rise across Vietnam, demand for soft drinks typically surges. But beyond seeking refreshment and an energy boost, many consumers are developing a new habit after finishing their beverages: peeling back bottle labels, entering promotional codes and receiving results on their phones within seconds.

Companies - Thu, June 4, 2026 | 8:45 am GMT+7

TikTok Shop narrows gap with Shopee as Vietnam e-commerce becomes duopoly

TikTok Shop narrows gap with Shopee as Vietnam e-commerce becomes duopoly

Vietnam’s e-commerce market is rapidly evolving into a two-player battleground as TikTok Shop aggressively gains ground on Shopee, reshaping how consumers shop online and how brands allocate advertising and sales budgets.

Economy - Wed, June 3, 2026 | 4:51 pm GMT+7

Vietnam regulator confirms foreign ownership limits for PV Drilling, PVTrans

Vietnam regulator confirms foreign ownership limits for PV Drilling, PVTrans

Vietnam’s securities regulator has confirmed foreign ownership limits for two major state-controlled oil and gas companies, leaving significant room for overseas investors to increase holdings in both firms.

Companies - Wed, June 3, 2026 | 4:34 pm GMT+7

Vietnam power firms post strong profits as heatwave drives electricity demand, but stocks lag

Vietnam power firms post strong profits as heatwave drives electricity demand, but stocks lag

Vietnamese power producers reported sharply higher first-quarter profits as electricity demand surged amid prolonged heatwaves, although their shares have yet to reflect the sector's improving fundamentals.

Companies - Wed, June 3, 2026 | 3:35 pm GMT+7