Rédaction Africa Links 24 with The Observer
Published on 2024-03-21 11:19:59
President Vo Van Thuong of Vietnam has resigned after serving for one year in the post. The ruling Communist Party issued a statement on Wednesday announcing his resignation, citing “shortcomings” that led to violations of rules which negatively impacted his reputation and that of the party.
Thuong had succeeded Nguyen Xuan Phuc, who resigned in March the previous year amidst a significant anti-corruption drive initiated by the party’s general secretary, Nguyen Phu Trong, also known as Blazing Furnace. This anti-corruption campaign has resulted in the arrests of thousands of government officials and business leaders in recent years.
One of the notable cases related to the anti-corruption drive is that of real estate tycoon Truong My Lan, who is currently on trial in Ho Chi Minh City. Lan is facing charges of embezzling $12.5 billion from a Saigon-based bank between 2012 and 2022. She allegedly orchestrated this embezzlement by setting up fake loans to numerous shell companies while holding a majority stake in SCB.
As a result of Lan’s case, a total of 85 individuals, including her husband, a wealthy Hong Kong businessman, and several former bank executives and government officials, are currently being prosecuted. One of the former government officials implicated in the case is accused of receiving $5.2 million in bribes.
The resignation of President Vo Van Thuong comes at a critical time for Vietnam as the country continues to grapple with corruption within its leadership and business sectors. The Communist Party is under pressure to address these issues and restore public trust in the government.
It remains to be seen who will succeed Thuong as the President of Vietnam and how the Communist Party will navigate the aftermath of his resignation. The party’s leadership will need to demonstrate a commitment to transparency and accountability in order to regain the confidence of the Vietnamese people.
Overall, President Vo Van Thuong’s resignation highlights the ongoing challenges of corruption and governance in Vietnam and emphasizes the need for continued efforts to combat these issues effectively. The country’s future trajectory will depend on strong leadership and a commitment to upholding the rule of law.
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