Vietnam’s PM sets up new economic advisory board

By Anh Minh   July 29, 2017 | 11:44 am GMT+7
Vietnam’s PM sets up new economic advisory board
Vietnam has been working hard to realize its ambitious growth target of 6.7 percent this year. Photo by VnExpress

The 15 members will advise the Prime Minister on long-term strategies and policy changes in difficult times.

Vietnam’s Prime Minister Nguyen Xuan Phuc has decided that he needs more expert opinion in driving the country’s economic growth.

The top government leader has just established a board which will directly advise him on economic matters.

They will advise the PM on mid- and long-term economic policies as well as annual socio-economic development plans.

Vietnam aims to expand its economy by 6.7 percent this year, a target considered ambitious by many experts especially after a relatively sluggish growth in the first six months. IMF and HSBC this month both revised their growth forecasts for Vietnam down to 6.3 and 6 percent, respectively.

According to Phuc’s decision, his new advisors can suggest amendments to current policies and regulations, especially in times of volatility, both in domestic and global markets. 

Among  the15 members are respected Vietnamese economists including those working and teaching in France, Japan, Singapore and the U.S.

Vu Viet Ngoan has been appointed as head of the board, leaving his job as chairman of the National Financial Supervisory Commission.

The 59-year-old has more than 20 years of experience in finance and banking.

He earned a PhD in finance from the La Salle University in the U.S. in 1998, through a distance education program, which has raised questions from the public about the quality of his study.