Vietnam Faces Political Turmoil as President Resigns Amid Anti-Corruption Purge

The resignation of President Vo Van Thuong, marking the second presidential departure in under two years, has intensified concerns over political stability and its impact on foreign investment.

President Vo Van Thuong's resignation, after just one year in office, has sent shockwaves through Vietnam, highlighting the Communist Party's sweeping anti-corruption campaign.
Vice President Vo Thi Anh Xuan steps in as acting president, with a permanent successor unlikely to be selected soon, raising questions about the country's political future.
The anti-corruption purge, described as a 'blazing furnace,' has ensnared top politicians and tycoons, including the recent proposal of a death sentence for a major property tycoon involved in a US$12 billion bank fraud.
Foreign investors grow wary as the political upheaval and the anti-corruption drive slow bureaucratic processes and create uncertainty about Vietnam's economic policies.
Vietnam's strategic importance is underscored by last year's state visits from both US President Joe Biden and Chinese President Xi Jinping, despite current political challenges.