The Vietnamese Communist Party has accepted the resignation of President Vo Van Thuong, the government said on Wednesday, in a sign of political turmoil that could hurt foreign investors’ confidence in the country. The government said in a statement that Thuong had violated party rules, adding that those “shortcomings had negatively impacted public opinion, affecting the reputation of the Party, State and him personally”.
He had also been a senior party official of economic hub Ho Chi Minh City, which has been rocked by a multi-billion-dollar long-running financial scam, for which a large trial is currently underway. Thuong was widely regarded as being close to ageing General Secretary Nguyen Phu Trong, Vietnam’s most powerful figure and the main architect of the anti-graft campaign.
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