HANOI – The party chief of Vietnam’s capital city Hanoi, Dinh Tien Dung, has resigned, the government announced on June 19. This resignation marks the latest in a series of high-profile exits as the ruling Communist Party undergoes a major reshuffle.
Dung, 63, who previously served as finance minister, was held accountable by the party for violations that occurred at the finance ministry during the 2016-2021 period, according to a government statement.
Dung is a member of the Politburo, Vietnam’s most powerful decision-making body. However, it remains unclear whether he will be removed from the Politburo. Since late 2022, six Politburo members have left amid an intensified anti-corruption crackdown and a major leadership reshuffle.
The government statement indicated that during its 2016-2021 term, the finance ministry failed to properly manage the issuance and trade of certain corporate bonds, with some ministry officials breaking party rules.
“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,” the statement said. The Politburo agreed to let Dung step down, the government added.
This reshuffle and crackdown are part of broader efforts by the Vietnamese government to address corruption and ensure accountability within its ranks.