Vietnam Gives Greenlight for Foreign CEOs in State-run Banks

The Vietnamese government has just given the green-light for state-owned banks and business groups to select foreigners as CEOs for the first time, local Thanh Nien (Young People) newspaper reported Friday.

 

Deputy Prime Minister Nguyen Sinh Hung made the remark at a meeting Thursday with the Bank for Investment and Development of Vietnam, or BIDV, urging its management to offer vacancies to high-caliber personnel, including competent foreigners, now eligible for the CEO post.

 

“BIDV must be a powerful financial institution with qualified and excellent personnel, which is required to cooperate with industries both in short- and long-term to minimize risks,” Hung noted.

 

Earlier, the Ho Chi Minh City authorities had allowed state corporations to conduct a trial model in which trustee boards were allowed to recruit foreign CEOs. (Young People)