Vietnam’s President Vo Van Thuong has resigned due to “violations” and “shortcomings” after only a year in office, the ruling Communist party said on Wednesday, deepening political turmoil that risks undermining investor confidence.
Thuong was the second Vietnamese president to resign in 14 months amid a corruption crackdown that has seen the arrests of hundreds of government officials and the resignation of high-ranking politicians.
The political uncertainty comes at a time when Vietnam is attracting record foreign investment as it benefits from a global push by manufacturers to diversify away from China because of growing tensions between Washington and Beijing.
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