Connect with us

Hi, what are you looking for?

Latest News

Vietnam appoints fourth president in nearly two years after months of political turmoil

Vietnam elected Luong Cuong, a military general, as its new president on Monday, the fourth official to fill the largely ceremonial role in 18 months.

Cuong, 67, was elected by the National Assembly to replace To Lam, who remained president even after he was formally appointed as the general secretary of the ruling Communist Party in August.

The role of the general secretary is the most powerful position in Vietnam while the presidency is mostly ceremonial and involves meeting foreign dignitaries.

Cuong in a speech vowed to conduct foreign policies that sought independence and peace and to promote Vietnam “as a friend, a trusted partner, an active and responsible member of the international community.”

Cuong, who has served in the Vietnamese army for over four decades, has been a Politburo member since 2021.

His appointment took place after months of uncharacteristic tumult in Vietnam’s politics and the death of former party general secretary Nguyen Phu Trong, who had dominated the country’s leadership since 2011.

Trong was an ideologue who viewed corruption as the single gravest threat in maintaining the party’s legitimacy and launched a sweeping anti-graft campaign known as the “blazing furnace.” It singled both business and political elites, including former presidents Nguyen Xuan Phuc and Vo Van Thuong and the former head of parliament, Vuong Dinh Hue.

As Vietnam’s top security official at the time, Lam had led the campaign until May. When he became the new general secretary, he promised to maintain the anti-corruption fight.

The campaign, albeit popular with many Vietnamese citizens, had spooked investors and made the bureaucracy more cautious, slowing down decision-making in the country.

The appointment of Cuong as the new president was a “move to stabilize the system” after the period of turbulence, said Nguyen Khac Giang, a visiting fellow in the Vietnam Studies Program at Singapore’s ISEAS–Yusof Ishak Institute.

“Luong Cuong’s appointment represents a deliberate attempt to restore balance between Vietnam’s military and security factions, particularly ahead of the 2026 Party Congress,” he said.

“By ceding the presidency, To Lam shows his commitment to the collective leadership principle, while still retaining the decisive power in the system,” he said.

Vietnam’s leaders are next due to convene a Communist Party Congress in early 2026.

Critics said that Cuong’s appointment would expand repression in Vietnam.

Ben Swanton of The 88 Project, a group that advocates for freedom of expression in Vietnam, said that Cuong would be a “reliable deputy” to Lam.

“The installation of Luong Cuong as president is yet another example of the expansion of Vietnam’s police state,” he said.

This post appeared first on cnn.com

World biggest companies

Learn Trading With Online Courses, Classes, & Lessons

You May Also Like

Investing

2023 was a relatively lackluster year, silver largely traded on volatility between US$22 and US$25 per ounce. The white metal started 2024 with less...

Latest News

Dong’s experience, both as head of the People’s Liberation Army Navy (PLAN) as well as operational assignments in the Chinese military’s Eastern and Southern...

Investing

The US was one of the world’s top silver producers in 2023, recording output of 1,000 metric tons (MT). While that’s far below first-place...

Investing

The Canadian pharmaceutical market is the eighth largest in the world and accounts for 2.2 percent of the global prescription drug market. But what...

Disclaimer: GreatWallStreetPublisher.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2024 GreatWallStreetPublisher.com