Appointing a Department Director as Vice Chairman of the State Securities Commission

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UBCKNN Vice Chairman Appointment
Deputy Minister of Finance Nguyen Duc Chi (in white shirt) presents the decision to appoint Mr. Bui Hoang Hai as Vice Chairman of the SSC. Photo: SSC

Mr. Bui Hoang Hai has been appointed as Vice Chairman of the State Securities Commission (SSC) of Vietnam, effective May 8, 2024.

Mr. Hai, born in 1976, holds a Master’s degree in Public Policy. He joined the SSC’s Securities Issuance Management Department in 1997 and has since held various positions, including Deputy Head of the Securities Issuance Management Department and Director of the Securities Business Management Department. From November 2019 until his recent appointment, he served as Director of the Securities Offering Management Department.

According to current regulations, the SSC’s leadership can include up to three vice chairmen. Mr. Hai’s appointment fills the vacancy left by Mr. Luong Hai Sinh, who was appointed as Chairman of the Vietnam Stock Exchange (VNX) in March 2024.

With the addition of Mr. Hai, the SSC now has three vice chairmen: Mr. Pham Hong Son, Mr. Hoang Van Thu, and Mr. Bui Hoang Hai.

Recently, the Ministry of Finance has been drafting a proposal to increase the number of vice chairmen at the SSC to four. This increase is justified by the growing scale and complexity of Vietnam’s securities market, which has placed significant demands and pressure on the SSC’s leadership.

In the coming period, with new tasks outlined in the Securities Law and its guiding documents, as well as the goals of restructuring the securities market by 2025 and developing the market by 2030, the workload and complexity of tasks for the SSC’s leadership will only increase. This is especially true for policy development and refinement, the introduction of new products, and market inspection and supervision in the face of increasingly sophisticated market manipulations.

Therefore, the addition of a fourth vice chairman is deemed necessary to ensure effective management and the fulfillment of the SSC’s responsibilities in the next phase.

Dong Tu

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