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Vietnam president resigns, risking investor confidence



Vietnam’s Communist Party has accepted President Vo Van Thuong’s resignation amid accusations of violating party rules and impacting public opinion negatively. This development, reflecting political instability, could deter foreign investment confidence. Thuong, having served only a year, resigned ahead of a parliament session expected to ratify his departure. This comes amid an intense anti-corruption campaign, seen both as a cleanup effort and a means of political manoeuvring, affecting decision-making and investor sentiment. Thuong’s resignation follows the arrest of a former provincial head linked to past corruption, highlighting the campaign’s breadth. This political shakeup, marking the quick succession of leadership changes, risks unsettling investors, evidenced by a downturn in Vietnam’s stock market and significant foreign investment withdrawals.

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