Nguyen Quoc Hung, left, and SBV Governor Nguyen Van Binh. — Photo VietnamPlus

HA NOI (Biz Hub) — The State Bank of Viet Nam (SBV) has appointed Vice Chairman of the Vietnam Asset Management (VAMC)'s Member Council Nguyen Quoc Hung as its chairman.

The decision was effective from May 15, 2014.

Hung, born in 1960 in Ha Noi, has worked for the Agricultural Development Bank of Viet Nam for many years. At the end of 2008, Hung became Deputy General Director of the bank and Chairman of the Agribank Insurance Joint Stock Company's Management Board.

Speaking at the ceremony held for Hung's appointment, SBV Governor Nguyen Van Binh emphasised that the volume of work at VAMC was going to increase in the future. This means the company needs to build a plan as well as implement it effectively.

Binh said VAMC needs to coordinate with agencies of the SBV, ministries and sectors to fulfill the legal framework related to its operations. At the same time, it will have to resolve the credit institutions' non-performing loans and improve the quality of staff.

SBV's Deputy Governor Dang Thanh Binh had earlier held the post of Chairman of VAMC. — VNS