Hanoi Party chief Dinh Tien Dung to step down

The Politburo, Vietnam's highest decision making body, has accepted the resignation of Dinh Tien Dung, Party chief of Hanoi and head of the city’s parliament delegation.

After considering a proposal from the Central Inspection Committee, the Politburo and the Party Central Committee’s Secretariat determined that the Ministry of Finance’s Party leaders for the 2016-2021 term had violated the principle of democratic centralism, Party regulations, and working regulations; failed to fully implement instructions from competent authorities; lacked responsibility; and showed lax leadership and direction.

These allowed the finance ministry, a number of Party organizations, and Party members to breach Party regulations and State laws, according to a Wednesday release from the Party Central Committee Office.

The Ministry of Finance’s Party leaders for the 2016-2021 term also failed to perform properly and completely assigned functions and tasks in advising; promulgating mechanisms and policies; state management of private placement corporate bond issuance and trading activities, including those related to the Van Thinh Phat Group ecosystem and An Dong Company; and in state budget management related to AIC Company and its member units.

The violations and shortcomings of the ministry’s Party leaders in the 2016-2021 term have “caused serious consequences that are difficult to remedy, and led to risks of huge loss and waste of state budget and damages to bond investors, negatively affecting the business environment as well as social order and safety.

The violations stirred public anger, and undermined the reputation of Party organizations and State management agencies, the release said.

"Dinh Tien Dung had been trusted and assigned by the Party Central Committee and Politburo to hold a number of important leadership positions."

According to the Politburo, as a Party leader of the Ministry of Finance and the Minister of Finance for the 2016-2021 term, Dung made great efforts to direct and manage the financial sector, leading to important results.

However, Dung bears the political responsibility of a leader, as many violations occurred at his ministry. His lack of responsibility in leadership and direction led to the Ministry of Finance and a number of organizations and individuals committing multiple violations and shortcomings, causing serious consequences and bad public opinion, and undermining the reputation of the Party and State management agencies.

“Aware of his responsibility to the Party and the people, Dung has submitted his resignation,” the announcement stated.

The Politburo agreed to relieve Dinh Tien Dung of his positions as Hanoi’s Party chief for the 2020-2025 term and head of the city’s parliament delegation. The Politburo will report to the Party Central Committee to ensure Dung leaves his positions in line with Party regulations and State laws.

Dung, 63, comes from Hoa Lu district, Ninh Binh province. He is a member of the 13th Politburo, a Party Central Committee member for the 11th, 12th, and 13th terms, and a delegate of the National Assembly - the country's highest legislative body - for the 14th and 15th terms.

Dung was Minister of Finance from June 2013 to March 2021. In April 2021, he was appointed Hanoi’s Party chief.