Vietnam parliament approves president’s resignation amid graft purge

The&nbsp, purge&nbsp, saw Thuong’s father, Nguyen Xuan Phuc, forced to resign immediately last January.

A few of the nation’s leading business leaders have been on trial in significant cases of fraud and corruption, with one facing a potential suicide word in a US$ 12.5 billion bond fraud case.

The group’s committee, its vital decision- making body, has then lost four of its 18 members since 2021- two presidents, a deputy prime minister and a previous trade minister.

Before&nbsp, Phuc’s&nbsp, resignation&nbsp, last year, only one other Communist Party&nbsp, leader &nbsp, had previously stepped over, and that was for health reasons.

Vice President&nbsp, Vo Thi Anh Xuan may serve as acting&nbsp, leader, state media reported, until the National Assembly chooses a whole- day replacement.

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Linh Nguyen, a&nbsp, Vietnam&nbsp, scientist at global risk firm Control Risks, said the tumult was a” PR crisis” that threatened the government’s standing for security.

Last week, as speculation about Thuong’s future built, the Dutch royal family said&nbsp, Vietnam&nbsp, had cancelled a planned state visit this week by King Willem- Alexander and Queen Maxima “due to internal circumstances”.

The turmoil comes as&nbsp, Vietnam&nbsp, seeks foreign investment, particularly from the United States, to develop its economy away from low- value manufacturing and towards high- tech products such as semiconductors.

US&nbsp, President&nbsp, Joe Biden’s administration wants to massively expand business investment in&nbsp, Vietnam&nbsp, to help it develop a high- tech sector to wean the American economy off its dependence on China.

Prior to a crucial Communist Party congress in 2026, Linh noted that it appeared that various factions were already competing for positions.

The politicized anti-corruption campaign is becoming more intense as the next party congress approaches, creating even more ambiguity about who will be next, she told AFP.

Losing the youngest politician and youngest leader also raises questions about the aging leadership in Vietnam, where the majority of them will be overaged by the next party congress in 2026.

No detailed explanation has been given of Thuong’s “violations”.

However, the Ministry of Public Security expanded its investigation earlier this month into a company that built roads in three provinces, including central Quang Ngai, where Thuong was formerly the party’s chief.

The ministry reported that the Phuc Son business was suspected of making false financial statements to avoid paying taxes, and its investigators detained nine people, including five Quang Ngai officials, as part of its investigation.

But Linh said the scale of Thuong’s alleged wrongdoing was “likely very small” in the context of the nationwide anti- corruption&nbsp, purge.

The more likely reason, according to analyst Benoit de Treglode of the Institute of Strategic Research in Paris, was internal party machinations regarding the replacement of General Secretary Trong.