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To Lam

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Vietnam’s To Lam tightens grip as growth push reshapes leadership
world2 months ago

Vietnam’s To Lam tightens grip as growth push reshapes leadership

Vietnam’s General Secretary To Lam was reelected and is expected to become president, signaling a consolidation of power that could accelerate decisions and reforms. He’s pushing a high-growth strategy targeting 10%+ annual growth from 2026–2030 centered on expanding the private sector and higher-value industries, while maintaining party discipline. The move raises concerns about checks and human rights as the state expands security influence and reshapes the economy; challenges include aging demographics, climate risk, weak institutions, and U.S. trade pressures.

Vietnam bets on private-led reform under To Lam's renewed rule
world2 months ago

Vietnam bets on private-led reform under To Lam's renewed rule

Vietnam’s Communist Party re-elected To Lam as party chief for five years and launched a bold reform drive to overhaul administration, push private businesses onto equal footing with state firms, and target double-digit growth with 20 globally competitive private champions by 2030 while expanding state-owned ‘leading cranes’ to 50 by 2030. The plan aims to break out of the middle-income trap by 2045, but critics warn it could entrench rent-seeking and slow the move up the value chain amid external headwinds such as US tariffs.