Minister of Finance Ho Duc Phoc has appointed Nguyen Thanh Dam chairman of wholly state-owned Vietnam Lottery One member Company Limited (Vietlott), replacing Le Van Hoan.
Dam, born in 1974, holds a bachelor's degree from the National Economics University and a master's degree from the National Institute of Policy Research, Japan. He has been working at Vietlott since it was established in 2012.
In the period 2012-2018, he held the position of Vietlott's deputy general director and general director. Previously, he had worked for 16 years at the finance ministry's Finance and Banking Department, in which he was head of lottery and prize games.
The finance ministry also assigned Pham Ngoc Tu Vietlott's deputy general director.
In March, Prime Minister Pham Minh Chinh had appointed Vietlott chairman Le Van Hoan as chairman of Vietnam Development Bank. VDB is a wholly state-owned policy bank, headquartered in Hanoi.
The company has a charter capital of VND500 billion ($21.3 million). Over six years of operation, Vietlott has recorded more than 90 million winning tickets with a total payout of more than VND15.28 trillion ($650.6 million).
Vietlott aims to continue adding new products and new selling points, while developing online sales channels in the coming time. Last year, the company achieved revenue of more than VND6.27 trillion ($267 million), up 22% compared to 2021.