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Vietnamese President Vo Van Thuong Resigns After Just Over a Year

by VOA News

   HANOI --

   President Vo Van Thuong of Vietnam has resigned after one year in the
   post.

   The ruling Communist Party issued a statement Wednesday announcing
   Thuong's resignation, citing "shortcomings" it says led to violations
   of rules that hurt the reputation of himself and the party.

   Thuong succeeded Nguyen Xuan Phuc, who resigned last March amid a
   massive anti-corruption drive launched by the party's General Secretary
   Nguyen Phu Trong, known as Blazing Furnace. The drive has led to the
   arrests of thousands of government officials and business leaders in
   recent years.

   Real estate tycoon Truong My Lan went on trial in Ho Chi Minh City on
   charges she embezzled $12.5 billion from a Saigon-based bank between
   2012 and 2022. Lan, who controlled a majority stake in SCB, allegedly
   embezzled the money by arranging fake loans to numerous shell
   companies.

   Another 85 people are being prosecuted in connection with the case,
   including Lan's husband, a wealthy Hong Kong businessman, and several
   former bank executives and government officials. One ex-government
   official on trial is accused of receiving $5.2 million in bribes.

   Some information for this report came from The Associated Press,
   Reuters, Agence France-Presse.

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