19-6-2024 (HANOI) In a significant development within Vietnam’s political landscape, Dinh Tien Dung, the party chief of the capital city Hanoi, has tendered his resignation, according to an announcement made by the government today. This move marks the latest high-ranking official to step down as the ruling Communist Party undergoes a major reshuffle amidst an intensified anti-corruption crackdown.
Dung, aged 63 and a former finance minister, has been held accountable by the party for violations committed at the finance ministry during the period spanning from 2016 to 2021. The government’s statement revealed that Dung, a member of the politburo – the nation’s most powerful decision-making body – was found responsible for the mishandling of corporate bond issuances and trades, as well as breaches of party rules by certain ministry officials.
The statement emphasised the gravity of the situation, stating, “The violations and shortcomings of the ministry for the 2016-2021 term have caused serious and irreparable consequences, leading to significant losses to the state budget and hurting bond investors.” It is currently unclear whether Dung’s resignation will also result in his removal from the politburo, which has witnessed the departure of six members since late 2022 amid the ongoing anti-graft crackdown and leadership reshuffle.
The announcement of Dung’s resignation comes as Vietnam’s Communist Party embarks on a comprehensive overhaul of its leadership ranks. The Southeast Asian nation has witnessed a surge in efforts to combat corruption and impropriety within its ranks, with numerous high-profile officials facing scrutiny and potential consequences for their actions.
Analysts and observers view Dung’s resignation as a significant development, signalling the party’s determination to address issues of misconduct and irregularities at the highest echelons of power.
