HANOI, May 24: Vietnam, which is struggling to raise budget revenue and reform its state enterprises, has appointed its state audit chief as finance minister.
The government said that parliament today approved the appointment of Dinh Tien Dung, 52, to replace Vuong Dinh Hue, who has been assigned to head the ruling Communist Party’s Economic Commission.
Dung, who has a master’s degree in business administration, was once a deputy minister of construction and also headed two northern provinces. He had been state audit chief since August 2011.
State budget revenue has been affected by an economic slowdown, while the Finance Ministry is under pressure to cut public investment despite the economy’s heavy dependence on state loans and spending for growth.
Revenue in the first quarter was 16.7 per cent of the annual projection for 2013, in comparison with 18.5 per cent in the same period last year and 21.2 per cent in 2011, according to the General Statistics Office.
The restructuring of state-owned enterprises, which have been criticised as a burden on the economy, has been slow and inefficient, economists have said.
(AGENCIES)
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