The vote by the rubber-stamp National Assembly is largely a procedural step, after the party's Central Committee said it accepted President Nguyen Xuan Phuc's resignation.
HANOI, Vietnam – Vietnam’s legislature on Wednesday approved the resignation of President Nguyen Xuan Phuc, state media reported, amid a major escalation of the Southeast Asian country’s anti-graft campaign.
The Communist Party’s central committee said on Tuesday that Phuc, 68, had submitted his resignation after the ruling Communist Party blamed him for “violations and wrongdoings” by officials under his control while prime minister. Wednesday’s vote by the rubber-stamp National Assembly is largely a procedural step, after the party’s Central Committee on Tuesday said it accepted Phuc’s resignation.Some Vietnam-based diplomats and foreign officials said the new developments could cause uncertainty, which may affect foreign investment.Political stability has been a major draw for foreign companies investing in Vietnam.
Dominic Scrivens, founder and chairman of investment fund Dragon Capital, said he believed “the height of the anti-corruption is now behind us”.
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