Resignation of Vietnam's president announced

According to the state media in Vietnam, President Vo Van Thuong has resigned.

Vietnam's Communist Party officially confirmed the decision on March 20.

Vo Van Thuong joins a list of other senior officials to leave office in Vietnam after they were implicated in an intense anti-corruption campaign.

Vietnam's Communist Party tried to distance itself from the actions of the disgraced president:

Violations by Vo Van Thuong have left a bad mark on the reputation of the Communist party.

The former leader resigned after just a little over a year in office, and the move may be the start of a trend. He is the second president of Vietnam to resign in just two years.

Experts predict this could be "a worrying sign for political stability in a country that plays a key role in the middle of U.S.-China competition and a growing one in global manufacturing."

Vo Van Thuong's resignation came after weeks of speculation that he would be removed from office.