Overview
- The Communist Party’s new Central Committee re-elected To Lam general secretary with a 180–0 vote at the close of the 14th National Congress in Hanoi, confirming him as Vietnam’s top leader for the next five years.
- Lam’s allies dominate the new 19-member Politburo, and nominations for president, prime minister and parliamentary speaker now move to the National Assembly for confirmation, with a decision on whether he will also assume the presidency still pending.
- In congress speeches, Lam pledged average GDP growth above 10% from 2026 to 2030 under a “new growth model” that elevates national conglomerates and innovation while keeping a strong guiding role for the state.
- Since mid-2024 he has executed a rapid administrative overhaul, abolishing eight ministries or agencies, cutting nearly 150,000 public-sector jobs and accelerating major infrastructure projects alongside an anti-corruption drive.
- Investors have welcomed reform momentum and market gains, but economists warn the target is unrealistic given U.S. tariffs, China supply dependence and regulatory burdens, as Xi Jinping and Vladimir Putin issued formal congratulations on Lam’s re-election.