On 5 April 2021, Phúc was elected the 10th President of Vietnam, during a meeting session of the National Assembly, succeeding
Nguyễn Phú Trọng who had previously announced his resignation from the role. On 26 July 2021, he was elected by the National Assembly to hold the position of
President of Vietnam for the 2021–2026 term with a rate of 96.79% (483/483 delegates present and voting approved, the total number of delegates to the 15th National Assembly is 499 delegates). On 30 August 2022, he became the President of the Vietnam Red Cross Society.
COVID-19 Pandemic On the morning of 27 May 2021, Nguyễn Xuân Phúc said "I call on all walks of life, businesses, organizations, and our compatriots abroad... to contribute and support the "Our people and our entire army will soon defeat the epidemic" in the launching ceremony of "Peak round of donations to support Covid-19 prevention and control" organized by the Vietnam Fatherland Front Committee.
Visit to Russia Accompanying him and his wife was a high-ranking Vietnamese delegation who arrived at Vnukovo airport in the Russian capital Moscow, starting an official visit Russia from 29 November to 2 December, at the invitation of President
Vladimir Putin. The purpose of the visit is to strengthen cooperation between the two countries in the prevention of the COVID-19 pandemic, especially research and production of vaccines and medicines, and sharing of experience in disease prevention. In the following Joint Statement, the two sides affirmed their determination to further strengthen the relations
Vietnam-Russia comprehensive strategic partnership by 2030, considering the Consolidating strategic trust is the foundation for further expansion and strengthening of bilateral cooperation in all fields. According to Vietnamese Ambassador to the Russian Federation
Dang Minh Khoi (), the time of talks between Nguyễn Xuân Phúc and Mr. Putin lasting nearly 4 hours is rare in similar events of the Russian President.
Policy of injecting money into the economy On 4 January, he said: “Many countries have strongly increased budget spending for economic recovery. We must accept increased public debt, budget deficits and increased credit under control. We must pump money into the economy and solve problems for growth." He agreed with the proposals in the report on increasing overspending, borrowing from foreign exchange reserve funds, issuing bonds, supporting rental accommodation for workers, reducing taxes and fees, and reducing taxable income for businesses. industry, especially allocating state budget capital, increasing charter capital... Along with increasing credit and reducing interest rates, new currency creates a necessary volume to promote economic development. Such policies are very necessary at this time, to promote the country's socio-economic development, restore growth, and implement the Resolution of the 13th National Party Congress. Commenting that the economy's "demand" is still weak, the President said that it is necessary to increase total "demand", especially in areas affected by the epidemic, and those in difficulty need support such as the poor, worker. The President said that fiscal and monetary support for development during this difficult time is necessary, but the foundation is to maintain macroeconomics, especially inflation targets. At the same time, he ordered the need to redesign the incentive mechanism and procedures for receiving fiscal, monetary and credit support packages for businesses and people, so that they can access them in the fastest and most convenient way. The best anti-embezzlement and waste.
Resignation On 17 January 2023, he announced his resignation as President of Vietnam and retired from politics, taking responsibility for "wrongdoings and violations" by 539 subordinates in his government amidst a crackdown on corruption, which included the dismissal of two Deputy Prime Ministers and the arrest of the Minister of Health
Nguyễn Thanh Long. In its statement on his resignation, the Vietnamese government evaluated him positively. While admitting responsibility for the wrongdoing of his officials, he wrote off as
conspiracy theories the claims that he or his family were directly engaged in or associated with the
COVID-19-related
Việt Á scandal.
Building a Rule of Law State On the morning of 17 January 2022, in Da Nang City, the Steering Committee for the Project "Strategy for building and perfecting the rule of law state of Vietnam until 2030, with a vision to 2045" organized a national conference with topic: "Continuing to promote and improve the effectiveness of judicial reform to meet the requirements of building and perfecting the rule of law state of Vietnam until 2030, with a vision to 2045". Phúc as Head of the Steering Committee for Project Development, chaired the workshop. ==Personal life==