INSUBCONTINENT EXCLUSIVE:
The Vietnamese Communist Party has accepted the resignation of President Vo Van Thuong, the government said on Wednesday, in a sign of
about a year after his election.The president holds a largely ceremonial role but is one of the top four political positions in the
It is aimed at stamping out widespread corruption but is also suspected by critics to be a tool for political infighting.Foreign investors
and diplomats have repeatedly blamed the campaign for slowing down decisions in a country which is already grappling with cumbersome
bureaucracy.Thuong, 53, quit days after Vietnamese police announced the arrest for alleged corruption a decade ago of a former head of
hub Ho Chi Minh City, which has been rocked by a multi-billion-dollar long-running financial scam, for which a large trial is currently
architect of the anti-graft campaign.Foreign investorsLast year, when former president Nguyen Xuan Phuc quit after the party blamed him for
successor.The current political crisis may well be resolved with the swift election of a new president, but risks remain that repeated
reshuffles of top leaders hurt business sentiment in a country that is highly dependent on foreign investment.The Ho Chi Minh City stock
on key policies would not change.Investors who mostly praise political stability may not take well the premature departure of two presidents
relations with both the United States and China would not change.Source: Reuters--Agencies
