Lottery firm leader becomes Vietnam Development Bank chairman

By Trang Nguyen
Thu, March 23, 2023 | 11:08 pm GMT+7

Prime Minister Pham Minh Chinh has appointed Vietnam Lottery One member Company Limited chairman Le Van Hoan as chairman of Vietnam Development Bank for the term 2021-2026.

Deputy Prime Minister Le Minh Khai signed the appointment decision on behalf of the prime minister on Thursday. Vietnam Development Bank (VDB) is a wholly state-owned policy bank, headquartered in Hanoi.

Le Van Hoan, Vietnam Development Bank chairman. Photo courtesy of the bank.

Le Van Hoan, Vietnam Development Bank chairman. Photo courtesy of the bank.

Hoan has a doctorate in economics and was appointed chairman of Vietnam Lottery One member Company Limited (Vietlott) in August 2012.

He has been working in the financial sector since 1995 and held various management positions at entities under the Ministry of Finance like the Institute of Finance, the Academy of Finance, and the Ministry of Finance's Office.

Luong Hai Sinh, chairman of VDB, was appointed vice chairman of the State Securities Commission from February 1.

One of two policy banks in Vietnam, VDB supports the country's poverty reduction through loans for development of irrigation systems, rural transport, infrastructure for craft villages, socio-economic infrastructure for remote and isolated areas, and exports.

Ngo Van Cuong, a board member of the Bank for Social Policies. Photo courtesy of Ho Chi Minh Communist Youth Union.

Ngo Van Cuong, a board member of the Bank for Social Policies. Photo courtesy of Ho Chi Minh Communist Youth Union.

On the same day, the prime minister appointed Ngo Van Cuong, secretary of the Central Committee of the Ho Chi Minh Communist Youth Union as board member the Bank for Social Policies, another wholly state-owned policy bank.

Cuong, 39, has a doctorate in development economics and construction engineering.

Comments (0)
  • Read More
EC postpones Vietnam’s seafood inspection until year end

EC postpones Vietnam’s seafood inspection until year end

The European Commission (EC) has delayed its fifth inspection of Vietnam's efforts to combat illegal, unreported and unregulated (IUU) fishing to the end of 2025, according to the Ministry of Agriculture and Environment (MAE).

Southeast Asia - Tue, May 6, 2025 | 8:53 am GMT+7

Thailand lowers growth forecast for 2025

Thailand lowers growth forecast for 2025

The Thai Ministry of Finance has cut its forecast for the country’s economic growth this year to 2.1% from 3%, saying that the impact of U.S. tariffs and a global slowdown would weigh on Southeast Asia's second-largest economy.

Southeast Asia - Tue, May 6, 2025 | 8:49 am GMT+7

Vietnam’s top lighting manufacturer Rang Dong posts 48% drop in Q1 profit

Vietnam’s top lighting manufacturer Rang Dong posts 48% drop in Q1 profit

Hanoi-based Rang Dong Light Source & Vacuum Flask JSC, a veteran in Vietnam’s consumer goods sector, reported a 48% decline in Q1 post-tax profit to nearly VND101 billion ($3.9 million), blaming intensifying competition from Chinese imports and foreign-invested enterprises.

Companies - Tue, May 6, 2025 | 8:17 am GMT+7

Vietnam spends $1.8 bln on coal imports in Q1, mainly for power plants

Vietnam spends $1.8 bln on coal imports in Q1, mainly for power plants

Vietnam spent more than $1.8 billion importing 17.27 million tons of coal in Q1, primarily to fuel thermal power plants, according to the General Department of Customs.

Economy - Mon, May 5, 2025 | 10:24 pm GMT+7

Vietnam’s utility major REE records 27% net profit growth in Q1 on power segment surge

Vietnam’s utility major REE records 27% net profit growth in Q1 on power segment surge

Private utility firm REE Corporation posted strong profit growth in Q1, primarily driven by a significant improvement in its power segment compared to the same period last year.

Companies - Mon, May 5, 2025 | 10:00 pm GMT+7

Vietnam to hold first round of trade talks with US on Wednesday

Vietnam to hold first round of trade talks with US on Wednesday

Vietnam will hold its first round of negotiations with the U.S. on bilateral trade Wednesday, Prime Minister Pham Minh Chinh said at the ongoing session of the country's parliament.

Economy - Mon, May 5, 2025 | 4:40 pm GMT+7

Nestlé Vietnam announces new investment in flagship coffee plant

Nestlé Vietnam announces new investment in flagship coffee plant

Nestlé will make an additional investment of $75 million to expand its Nestlé Tri An plant in the southern Vietnam province of Dong Nai, bringing its total investment in the facility over 2024-2025 to $175 million.

Companies - Mon, May 5, 2025 | 4:35 pm GMT+7

Vietnam legislature’s ongoing session to mark 'historic breakthrough in institutional reform'

Vietnam legislature’s ongoing session to mark 'historic breakthrough in institutional reform'

The National Assembly's session which opened on Monday morning will make a critical step forward in institutional reform, paving the way for a new era of modernization, digital transformation, green growth, and sustainable development, said the parliament's Chairman Tran Thanh Man.

Politics - Mon, May 5, 2025 | 3:53 pm GMT+7

Business confidence in Vietnam drops to 44-month low over US tariff concerns: S&P Global

Business confidence in Vietnam drops to 44-month low over US tariff concerns: S&P Global

Business confidence in Vietnam dropped sharply in April to the lowest since August 2021, as manufacturers were concerned about the impact of U.S. tariffs on production in the months ahead, according to S&P Global.

Economy - Mon, May 5, 2025 | 3:24 pm GMT+7

Ford distributor City Auto chairman’s wife plans $5 mln buy to become major shareholder

Ford distributor City Auto chairman’s wife plans $5 mln buy to become major shareholder

Ngo Thi Hanh, wife of Ford distributor City Auto (HoSE: CTF) chairman Tran Ngoc Dan, has registered to buy 6 million CTF shares to increase her ownership to 6.4%, according to the Ho Chi Minh Stock Exchange (HoSE).

Companies - Mon, May 5, 2025 | 11:41 am GMT+7

HCMC street retail spaces vacant despite rent cuts

HCMC street retail spaces vacant despite rent cuts

Street retail spaces in Ho Chi Minh City, Vietnam's economic hub, continue to face persistent vacancies, as they struggle to compete with modern retail spaces that offer a wider array of goods and services.

Real Estate - Mon, May 5, 2025 | 11:14 am GMT+7

State-controlled giant Vietnam Rubber Group reports strong Q1 profit on high latex prices

State-controlled giant Vietnam Rubber Group reports strong Q1 profit on high latex prices

Vietnam Rubber Group-JSC reported a net profit of VND1,184 billion ($45.5 million) in Q1/2025, 2.5 times higher than Q1/2024, which was largely driven by sustained high rubber latex prices amid rising global demand and tight supply.

Companies - Mon, May 5, 2025 | 8:22 am GMT+7

KRX trading system to go live on Monday: A 'pivotal milestone' for Vietnam's market status upgrade

KRX trading system to go live on Monday: A 'pivotal milestone' for Vietnam's market status upgrade

The official launch of the new KRX trading system on May 5, after more than a decade of preparations, will mark a pivotal turning point for Vietnam’s stock market status upgrade, said Nguyen Duy Hung, chairman of leading broker Saigon Securities Inc. (SSI).

Finance - Sun, May 4, 2025 | 10:02 pm GMT+7

Vietnam distributor of Chinese EVs reports big profit growth in Q1

Vietnam distributor of Chinese EVs reports big profit growth in Q1

Vietnam’s TMT Motors Corporation (HoSE: TMT), the distributor of Chinese electric vehicle brand Wuling, reported VND33.76 billion ($1.3 million) in Q1 after-tax profit, about 125 times higher than Q1/2024.

Companies - Sun, May 4, 2025 | 7:38 pm GMT+7

Vietnamese EV maker VinFast signs loans worth $190 mln for Indonesia plant

Vietnamese EV maker VinFast signs loans worth $190 mln for Indonesia plant

VinFast, the electric vehicle arm of Vietnam's leading private conglomerate Vingroup, has secured a long-term syndicated loan agreement worth IDR1.85 trillion ($110 million) and an $80 million accordion facility from two Indonesian banks to finance the construction of its plant in Indonesia.

Companies - Sun, May 4, 2025 | 12:55 pm GMT+7

Vietnam's logistics major Transimex targets 20% profit growth in 2025

Vietnam's logistics major Transimex targets 20% profit growth in 2025

Transimex, a top logistics firm in Vietnam, targets net profit of over VND204 billion ($7.8 million) for 2025, up 20% year-on-year, on revenue of over VND3.36 trillion ($129.2 million), up 1%.

Companies - Sun, May 4, 2025 | 12:23 pm GMT+7