deepening the political uncertainty in a country where top officials have been ensnared in corruption crackdowns.
the chairwoman of real estate developer Van Thinh Phat Holdings Group, who is accused of masterminding a plot that siphoned off 304 trillion dong from Saigon Joint Stock Commercial Bank. Prosecutors on March 19 called for the death penalty to be handed to her. While the presidency is a largely ceremonial position, it is the second-highest position in Vietnam’s political hierarchy where party general secretary Nguyen Phu Trong sits at the apex.is the chief architect of the so-called “blazing furnace” crackdown on corruption.
Analysts also expect Mr Thuong’s resignation to worsen the bureaucratic paralysis brought on by Vietnam’s years long crackdown on graft. Officials have been known to be wary of approving projects for fear of being investigated for irregularities. This held up the issuance of licences and other permits, hampering economic activity at a time when the country is trying to regain traction after the pandemic.