The Second President to become Engulfed by Vietnam’s Burning Inferno
This Wednesday, Vietnamese President Vo Van Thuong resigned from the presidency, making this the second Vietnamese president to resign in less than a year. Last January, President Nguyen Xuan Phuc also resigned following allegations of corruption. Now, President Thuong has left following similar allegations. Two presidents in less than a year is a rare occurrence in the Southeast Asian country.
Following the end of the Vietnam War in 1975, Vietnam became a communist country. Yet, in almost 50 years, the country has not only remained relatively stable politically but has also become one of the fastest-growing economies in Southeast Asia. This is a very impressive feat achieved under a strong ruling Communist Party. The one-party system has an interesting power dynamic, with four main official positions: the party chief, the president, the prime minister, and the parliament chairman. Yet the most important figure in the country is the General Secretary. This makes the president a mostly ceremonial role. However, as one of the top four positions in the country, the president’s resignation could have some major impacts. These resignations come during the Vietnamese Communist Party’s massive crackdown against corruption in a campaign known as the “burning furnace.” However, to tackle corruption, does Vietnam risk jeopardizing its political stability and scaring off foreign investment?
Protegee Burns in the “Blazing Furnace”
Vo Van Thuog is the latest ember burned in the ruling Communist Party’s anti-corruption campaign, dubbed the “blazing furnace” by party leaders. This anti-corruption campaign has been going on for the past decade, with many high-ranked officials and businessmen coming under investigation. This anti-corruption campaign was started by the General Secretary of the ruling Communist Party, Nguyen Phu Trong, the most powerful person in Vietnam. In the past decade, Trong has come down hard on corruption in the country. Yet, in a vicious anti-corruption campaign, not even his own party members are safe from this furnace, fuming to eradicate corruption in the nation.
Thuog, at 53, was not only the youngest president in Vietnam’s history but also the protégé of the current leader of the Communist Party, General Secretary Trong. Trong, however, is almost 80 years old, and many question whether he will step down at the next Vietnamese National Convention in 2026. As Trong’s protégé, many assumed that Thuog was the natural choice for the succession. Yet even being Trong’s protégé meant nothing to the furnace. The resignation of someone who was considered to be the next leader of the country highlights the ruthlessness with which this campaign has been carried out. While this anti-corruption campaign has been impactful in weaseling out corruption in the country, many are concerned about what this could mean for the future.
Can the furnace burn forever?
There are a few aspects to frame the blazing furnace's potential impacts—political, economic, and longevity. In the political sphere, the resignation of two presidents in less than a year highlights inconsistency in leadership. While the presidential position is largely ceremonial, it is still one of the top four positions within the country. However, what is more jarring about Thuong’s resignation was his reputation as Trong’s protégé. When Thuong was elected in 2023, many viewed this as a sign of stability in the country following the previous president's resignation. With speculation that Trong would step down by 2026, Thuong was poised to take his place as the new General Secretary and ensure that policies were continued. Yet, less than a year later, Thuong has resigned with no obvious successor. This leaves a vacuum in the success, where many are worried that the uncertainty could lead to more political turmoil.
Additionally, the rapid turnover of officials creates an image of instability, which in turn scares foreign investors. Vietnam relies on foreign investment in the economy to fuel growth. In 2023, Vietnam had received $25.76 billion worth of foreign investments that were utilized in the manufacturing industry. However, now these investments could be jeopardized. Not only does the political unrest cause hesitation among investors, but officials are fearful of even approving economic projects, slowing down economic improvement.
Yet the biggest flaw of the burning furnace is whether it is sustainable. Vietnam has made ambitious plans to continue to grow the economy rapidly. This “breaknecking growth inevitably fuels corruption, however, fiercely the party tries to fight it.” Additionally, the blazing furnace campaign centers around General Secretary Trong’s obsessive commitment to eradicating corruption. Essentially, the campaign is held together by one man with no assurance of its continuity after him. With his protegee gone and no clear successor, there is even more uncertainty that the next General Secretary will manage the campaign as aggressively or even continue to eradicate corruption. There is no guarantee that corruption will not remerge.
Vietnam’s massive “burning furnace” campaign knows no limits. No government official is safe from it; even being a high-ranking member of the ruling Communist Party offers no safety net. Yet, with two presidents resigning in less than a year, Vietnam’s attempt to rid the country of its corruption problem may be sowing the seeds for many other problems that could hinder its development. Political instability and uncertainty have caused fear among analysts and foreign investors. President Thuong’s resignation, less than a year after the previous president’s resignation, highlights that the problem of corruption remains persistent. The current method of tackling corruption is not sustainable in the long term. There needs to be a long-term solution to this problem. However, the next biggest step for the ruling Communist Party is finding a new president.