State Bank of Vietnam needs a single mandate not independence

Searching for stability

State Bank of Vietnam, Hanoi

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

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