Vietnam’s Leader Returns With Bold Promises — Can He Deliver

Vietnam’s political landscape has entered a new chapter with the reappointment of General Secretary To Lam as the top leader of the Communist Party of Vietnam, a position that effectively makes him the most powerful figure in the one-party state. On January 23, 2026, Lam was unanimously confirmed by all 180 members of the Communist Party’s Central Committee during the 14th National Party Congress in Hanoi, securing his leadership for the next five years. His return comes with bold promises — from double-digit economic growth targets to sweeping reforms — but observers and analysts are now asking a pressing question: Can he deliver on his ambitious agenda? �

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At 68 years old, To Lam is no newcomer to power. He rose through the ranks of Vietnam’s security services, serving as Minister of Public Security and playing a key role in an aggressive anti-corruption campaign that reshaped the party’s leadership and solidified his influence. Now, with his leadership reaffirmed and indications that he may also assume the presidency, Lam is poised to break tradition in Vietnam’s political structure, potentially centralizing authority in a manner reminiscent of leaders in neighbouring communist states. �

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Ambitious Growth Targets and Reform Promises

One of Lam’s headline commitments is transforming Vietnam’s economy. At the party congress, he set a target of more than 10% annual GDP growth from 2026 to 2030, a rate that far exceeds most independent forecasts and would position Vietnam among the fastest-growing economies globally. To achieve this, he has called for a shift away from Vietnam’s traditional reliance on cheap labour and export-led manufacturing toward a model driven by productivity, technology, and innovation. �

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This involves reducing bureaucratic red tape, fostering high-value sectors, expanding infrastructure, attracting foreign investment, and bolstering domestic firms able to compete internationally. Party documents and reform plans emphasise building “national champions” — corporate giants supported by state policy that could elevate Vietnam’s presence in global markets by 2030. �

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Lam’s promise to reform the country’s administrative apparatus has already resulted in significant changes. Since assuming leadership in 2024, he has overseen cuts to public-sector jobs, consolidation of ministries, and streamlining of government agencies — moves designed to increase efficiency and reduce waste. While such reforms have earned praise from some investors for improving business conditions, the implementation has caused transitional disruption and raised concerns about social impacts. �

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Economic Strengths — And Systemic Weaknesses

Vietnam’s economic successes over the past three decades are undeniable. From being a largely isolated, state-run economy, Vietnam has emerged as a manufacturing hub in Asia, attracting major foreign companies and lifting millions out of poverty. It is a key node in global supply chains for electronics, textiles, and other exports — a feat that has earned admiration from international markets. �

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However, the country still faces structural vulnerabilities. The state-owned sector remains large, with hundreds of enterprises that benefit from preferential treatment, making it difficult for smaller private firms to thrive. Despite recent resolutions aimed at leveling the playing field, state giants continue to dominate economic space, raising questions about how effectively Vietnam can foster a dynamic private sector without creating politically connected monopolies. �

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Another challenge is Vietnam’s continued reliance on foreign demand, particularly in the United States and China. Tariffs and trade tensions — especially recent U.S. tariff policies — pose risks to export growth and could undermine the country’s ambitious economic targets. �

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Political Power and Internal Dynamics

Lam’s consolidation of power also has significant political implications. While reaffirmation of his leadership reassures foreign investors about political stability, it also raises questions about internal checks and balances within Vietnam’s collective leadership system. There are indications that Lam could accumulate multiple top positions, including the presidency — a move that would centralize authority in a way that diverges from Vietnam’s traditional power-sharing model among the general secretary, president, prime minister, and National Assembly chair. �

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Such concentration has both potential benefits and risks. On the one hand, it might allow for faster decision-making and more decisive reform implementation. On the other, it could weaken institutional counterweights, stifle debate within the party, and increase the risk of policy missteps without robust internal scrutiny. �

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Social and Geopolitical Challenges

Beyond economics and governance structures, Vietnam faces broader social and geopolitical pressures. Rapid demographic changes, environmental stresses, infrastructure bottlenecks, and climate vulnerabilities all pose significant hurdles to sustained high growth. At the same time, Vietnam’s strategic location and evolving relationships with major powers — balancing ties with China and engagement with the United States and ASEAN partners — will require diplomatic skill to navigate without compromising national interests. �

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Can He Deliver?

To Lam’s bold vision for Vietnam is both inspiring and daunting. His reappointment signals confidence within the party and among many external stakeholders that Vietnam can pursue ambitious reform. But the success of his agenda will depend on how effectively he can address entrenched structural issues, manage political tensions, and implement economic changes without destabilizing the social fabric.

As the country embarks on this critical phase, the world will be watching: Can Vietnam transform its promise into reality? Only time will tell if Lam’s leadership can turn bold words into sustained prosperity for the nation.