Hanoi: Vietnam has appointed Pham Duc An as the new governor of the State Bank of Vietnam, marking a key step in the country’s ongoing leadership reshuffle. The decision was approved by the National Assembly for a five year term, according to state media reports.
Pham Duc An brings many years of experience in the banking sector. He has held senior positions in major financial institutions and is known for his strong background in finance and policy. His appointment signals continuity in Vietnam’s monetary policy at a time of global economic uncertainty.
The change comes as part of a broader government transition following recent political developments. Le Minh Hung was named as the new prime minister, while Ngo Van Tuan has taken over as finance minister. These moves reflect a wider restructuring of the country’s leadership after the latest Communist Party congress.
Vietnam is currently facing economic challenges linked to global market instability and rising energy prices. The central bank is expected to play a key role in maintaining stability while supporting economic growth. In recent years, it has been involved in major efforts to stabilise the banking system and manage credit expansion.
Experts believe the new governor is likely to continue existing policies rather than introduce major changes. The focus is expected to remain on controlling inflation, supporting businesses, and ensuring financial stability.
With an experienced banker now at the helm, Vietnam appears to be aiming for steady economic management as it navigates a difficult global environment.