In the midst of anti-corruption campaign Vietnamese president quits

HANOI, Vietnam: Vietnamese President Vo Van Thuong has resigned from his position after just over a year, announced the Communist Party this week.

His departure marks another significant development in Vietnam's ongoing anti-corruption efforts.

The Communist Party accepted Thuong's resignation, citing "violations" that tarnished the party's reputation. Thuong becomes the second president to resign in two years, raising concerns about political stability in Vietnam, a country pivotal in the U.S.-China dynamic and global manufacturing.

Speculation about Thuong's removal had been rife for weeks, with his resignation coinciding with a special parliamentary session on "personnel matters." The timing follows the arrest of a former provincial head for corruption, underlining the intensifying anti-corruption drive.

Thuong, 54, assumed the presidency in March 2023, succeeding Nguyen Xuan Phuc, who resigned amid corruption scandals during the pandemic. Thuong's resignation underscores the breadth of the anti-corruption campaign, a hallmark of General Secretary Nguyen Phu Trong's tenure.

According to state media, Thuong's resignation followed awareness of his "responsibilities before the Party, the state, and the people." The Central Inspection Commission, tasked with anti-corruption efforts, likely implicated Thuong, suggesting serious infractions.

Vietnam's parliament is expected to approve the party's decision, with no immediate replacement anticipated. The exact nature of Thuong's violations remains unclear, but they surfaced after the arrest of a former provincial head, implicating Thuong during his tenure as party chief.

The news spread rapidly in Hanoi, with streets buzzing as people checked their phones for updates. The anti-corruption campaign, termed a "blazing furnace" by Trong, has bolstered his authority but also led to factional purges within the party.

While Vietnam seeks to balance relations between China and the U.S., concerns linger over the campaign's impact on the business environment, deterring foreign investment. Last year's visits by U.S. President Joe Biden and Chinese President Xi Jinping highlighted Vietnam's strategic importance.

Rumors of political shifts intensified after the postponement of a state visit by the Dutch royal family and the delay of a planned visit by the World Bank president. Vietnam's stock exchanges experienced record trading volumes as investors speculated about the president's future.