Vietnam’s president resigns: what next?

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The upheaval comes as Vietnam seeks increased foreign investment to develop its economy to high-tech industries.

Thuong has not issued any public comment. But in a statement, the party said Thuong was guilty of 'violations and shortcomings'.

The Vietnamese parliament on Thursday approved the unexpected resignation of President Vo Van Thuong as a wide-reaching corruption probe roils the opaque communist country. It began several years ago but gathered pace during the Covid-19 pandemic, when officials and business people were accused of selling overpriced testing kits, leading to two deputy prime ministers being sacked and an ex-health minister jailed for 18 years.Earlier this month the Ministry of Public Security said it was deepening an investigation into an infrastructure development company in three provinces, including central Quang Ngai, where Thuong was formerly the party chief.

Thuong, 53, was appointed in March last year under highly unusual circumstances after his predecessor Nguyen Xuan Phuc dramatically resigned as he was swept up in the anti-corruption purge.Phuc was only the second Vietnamese communist president to step down, and the last one did so for health reasons.The upheaval comes as Vietnam seeks increased foreign investment to develop its economy from low-value manufacturing jobs to high-tech industries.

 

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