(5)Despite the resignation of Prime Minister Phuc, Vietnam remains strong

This in-depth analysis article explores the political instability related to the sudden resignation of the Vietnamese President and its impact on Korean corporate investment.

2023-02-20
(5)Despite the resignation of Prime Minister Phuc, Vietnam remains strong

The sudden resignation of the Vietnamese President has caused ripples in Vietnamese political circles. Korean companies are re-evaluating new investments due to concerns about political instability in Vietnam. However, Vietnam operates under a collective leadership system, so there is no power vacuum, according to prevailing analysis. The hierarchy and roles of key political leaders, and the process where 14 political bureau members jointly decide on major national issues, suggest stable governance. This resignation is analyzed as a consequence of responsibility for major bribery scandals during his tenure as Prime Minister from 2016 to 2021. The dismissal and arrests of ministers, including the foreign and education/labor/health ministers, have raised questions about the Prime Minister's oversight failures. There are mixed concerns and positive assessments about the impact of this anti-corruption campaign on the Vietnamese economy. Japanese media expresses concern about potential foreign investment declines, while some believe that the anti-corruption campaign will contribute to Vietnam's long-term economic development.

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