Vice-President Vo Thi Anh Xuan becomes acting president. A new president will likely be picked in May. Read more at straitstimes.com.
HANOI – Vietnam’s legislature on Wednesday approved the resignation of President Nguyen Xuan Phuc, state media reported, amid a major escalation of the country’s anti-graft campaign.Sources said a new president would likely be named at the next meeting of the National Assembly in May.
Some Vietnam-based diplomats and foreign officials said the new developments could cause uncertainty, which may affect foreign investment. “The ousted state president was more business-oriented than many in the top levels of government, but his forced departure should not be seen as a shift away from economic liberalisation and openness to foreign investment,” said Mr John Marrett, a senior analyst at the Economist Intelligence Unit.
A US State Department spokesman said he was confident “that the positive momentum in our relationship” would continue. The US is Vietnam’s largest export market.
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Vietnam’s President Nguyen Xuan Phuc quits, blamed for ministers’ ‘violations’Mr Phuc, a former prime minister, has held the largely ceremonial position for less than two years. Read more at straitstimes.com.
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