The Ministry of Finance respond on the “opaqueness” appointment of HNX leader

Nguyen Nhu Quynh was appointed by the Ministry of Finance as Deputy General Manager of Hanoi Stock Exchange since February 2019. Source: HNX

According to the Ministry of Finance, in recent times, some press agencies like Vietnam Law News and National Times published many articles stating that Nguyen Nhu Quynh was appointed by the Ministry of Finance as Deputy General Manager of Hanoi Stock Exchange showing abnormal signs and did not comply with the procedures, effecting the internal organisation of HNX and likely to affect the market situation.

The Ministry of Finance said the above contents lackedtitle and were superficial judgments aimed at causing negative impacts on public opinion as well as the management of the Ministry of Finance and HNX.

The Ministry of Finance said the stock market is a sensitive market, greatly affected by rumours. When there is no basis, the publication of the press could greatly affect the organisations and individuals involved in the case. It will cause instability in the market and confusion for the public.

The Ministry of Finance said Nguyen Nhu Quynh who was born in 1976, has all the qualifications such as graduation from the Faculty of State Finance at the Finance Academy from 1994 to 1998, Master of Public Finance at Hitotsubashi School (Japan) from 2002 to 2004 and Doctor of Economics at Kobe University(Japan) from 2006 to 2010; Advanced Political Theory at Ho Chi Minh National Academy from 2016 to 2018.

As explained by the Ministry of Finance, at the time of his appointment, Quynh had spent 19 working years in the financial industry with many different positions such as expert, deputy manager, manager and then he was proposed to be Deputy Chief of Office of the Ministry of Finance.

Regarding the process of appointing Nguyen Nhu Quynh as a member of the HNX's Board of Directors, based on the provisions of the law on title management and appointment, the Party Committee, Ministry of Finance approved the policy of mobilisation and appointment; Party Committee of the Ministry of Finance; the leadership and party committee of the Office of the Ministry of Finance and HNX as destination place had reached 100 percent agreement about the appointment of Quynh.

Regarding information on the activities of the HNX after Quynh was appointed, the Ministry of Finance said that in March 2019, the operation of the HNX recorded many positive results.