Vietnam’s Communist Party accepted the resignation of President Nguyen Xuan Phuc on Wednesday, the latest casualty of Hanoi’s clampdown on corruption.
State media said he allowed officials in his government to act with impunity. His resignation had been expected after two deputy prime ministers were dismissed earlier this month, France24 reports.
Some Vietnamese officials have voiced concern that the disruption caused by the resignation could dampen foreign investor appetite, Reuters reports. While a new president is unlikely to alter Vietnam’s emphasis on attracting business, the change could point to growing repression of opponents of the Communist Party, the BBC reports.
Dan Keeler is founder and editor-in-chief at Frontier Markets News and the founder and host of FMN’s podcast.
Prior to founding FMN, Dan was Editor, Frontier Markets at the Wall Street Journal.
