The Politburo on June 19 agreed to relieve Mr. Dinh Tien Dung from his current position as Secretary of the Hanoi Municipal Party Committee, according to a report from the Government News.

Mr. Dung, 63, served as Secretary of Ninh Binh provincial Party Committee from October 2010 to July 2011.

He was Auditor General of the State Audit from August 2011 to May 2013 and Minister of Finance from May 2013 to January 2021.

He was elected to the Politburo in January 2021 and became Secretary of the Hanoi Municipal Party Committee.

Meanwhile, the Vietnam News Agency (VNA) reported that as Secretary of the Finance Ministry's Party Civil Affairs Committee and Finance Minister for 2016 – 2021, Mr. Dung must bear the responsibility for many wrongdoings found at the ministry. Aware of his responsibility before the Party and people, he resigned from his positions.

According to VNA, during 2016-2021 term, the Party Committee of the Ministry of Finance was found to violate the Party's regulations and fail to properly carry out its tasks when it comes to the mechanisms, policies and management of issuance of corporate bonds, including those of Van Thinh Phat Group.

Such violations have resulted in severe consequences that risk great losses to the national budget and bond investors, negatively affecting the business environment, social order and safety among others.

The Government News added that Mr. Dung is the fourth high-ranking officials to have stepped down in 2024, after former President Vo Van Thuong, former Chairman of the National Assembly Vuong Dinh Hue, former Standing member of the Party Central Committee’s Secretariat and former Head of the Party Central Committee's Organization Commission Truong Thi Mai.