Displaying items by tag: Thuong

In what has been described as a ‘political earthquake’, Vietnam's president Vo Van Thuong resigned on 20 March, after allegations of corruption which have tarnished the Communist party's image. He was the youngest president in modern history, and regarded as a protégé of party chief Nguyen Phu Trong. Vice president Vo Thi Anh Xuan will act as interim president, but analysts think that a permanent candidate is unlikely to be selected soon. There will be a ‘very complicated’ succession process within the party that may last until the national congress in 2026, when the successor to Trong, Vietnam’s most powerful politician, will be determined. Concerns about his health mean the largely ceremonial position of the president is crucial. There are growing concerns among foreign investors about political instability in the country, which is a growing manufacturing hub and sits at the middle of the competition between China and the USA for global influence.