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.

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.

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.

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