State Bank of Vietnam needs a single mandate not independence

In the late 1980s Vietnam shifted from a centrally controlled economy to a more internationalised and market-based one with a ‘socialist orientation’ (Doanh, 2008).¹ In real terms, the strategy has proven a success. Driven by domestic investment, foreign investment and exports, real GDP growth averaged 7.4% from 1991 to 2010, and per capita real GDP almost doubled from 1993 to 2009. The poverty rate also declined during the past two decades (World Bank Data).² Many observers now expect Vietnam