The president of Vietnam is forced to resign for “Inappropriate behavior” linked to corruption
Vietnam's government has announced theresignation of its second president in two years as part of an anti-corruption drive, raising concerns about the country's political stability.
President Vo Van Thuong's alleged "violations and shortcomings have negatively affected public perception, as well as the reputation of the party and the state," state media reported Wednesday, citing an announcement by the Central Committee of the Communist Party of Vietnam. No further details about the alleged violations were released. In a communist country the image is more important than in a "Democratic" country, because the former still needs the support of public opinion, the latter hides more behind the mechanisms of elections.
Thuong served as president for just over a year, after Nguyen Xuan Phuc, his predecessor, was ousted amid corruption scandals involving officials under his control.
The impact of the news was notable both in the country and abroad, also because the news arrived unexpectedly and in any case the president represented the nation. Think what would happen if something like this happened in Italy, even without a change in government.
“Clean Hands” in Hanoi
The crackdown on corruption, called a "fiery furnace" by Vietnam's secretary-general and leader Nguyen Phu Trong, has implicated thousands of officials, from presidents and ministers to low-level bureaucrats.
The President's position in Vietnam is largely ceremonial and ranks third in the country's political hierarchy. The most powerful position is that of General Secretary of the Communist Party, a position held since 2011 by Trong, who is 79 years old.
Vietnam does not have a supreme ruler, as in China, but seeks to be guided by a quadrivirate, the leadership of the four "pillars": the head of the party, the President, the Prime Minister and the Speaker of Parliament. Party leader and Prime Minister are the two most important figures.
Rumors of a potential political change have flared after a state visit to Vietnam by the Dutch royal family was postponed "due to internal circumstances", according to a statement from the Dutch royal house. So this cleanup still affected Vietnam's external relations. China immediately stated that there will be no impact on bilateral relations. The President of the World Bank has also postponed a visit scheduled for this week.
Such a turnover among senior executives is highly unusual in Vietnam and analysts said it could be a cause for concern for companies looking to invest in the country.
“Whatever the reasons, the resignation of two presidents in less than two years is not a good sign for a country that often boasts political stability,” said Nguyen Khac Giang, a visiting fellow at ISEAS-Vietnam Studies Program. Yusof Ishak Institute.
Vietnam is also an important investment destination for companies looking to reduce their exposure to China, due to Beijing's tensions with the United States.
“Although the FDI [foreign direct investment] sector has been somewhat insulated from the anti-corruption campaign, the uncertainty may push investors to adopt a wait-and-see approach in an increasingly unpredictable Vietnamese political landscape,” Giang said.
Thuong's fall also raises significant questions about Vietnam's future leadership, with the next National Congress scheduled for 2026.
“He was considered a strong contender for the leadership position, given his young age and closeness to General Secretary Trong, so his departure likely eliminates a formidable competitor for other candidates,” Giang said. “However, this does not at all reduce the intensity of the political struggles towards 2026.”
At 54, Thuong was the youngest President in Vietnam's history. His fall triggers internal dynamics that are not very clear and which must also be cross-referenced with the other resignations linked to this round of internal cleansing.
Thanks to our Telegram channel you can stay updated on the publication of new Economic Scenarios articles.
The article President of Vietnam is forced to resign for “Inappropriate behavior” linked to corruption comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/si-dimette-presidente-del-vietnam/ on Fri, 22 Mar 2024 08:45:25 +0000.