To Lam, General Secretary of the Communist Party of Vietnam, presented his vision at the Communist Party's national congress, expressing confidence in driving the economy to grow over 10% annually through 2030. He highlighted policies to reform the bureaucracy and expand global trade cooperation to address the U.S. trade war, amid scrutiny over his potential consolidation of party chairman and president roles to gain absolute power.
To Lam, General Secretary of the Communist Party of Vietnam, delivered a speech at the party's national congress, held over one week to decide the country's political future for the next five years. He pledged to lead Vietnam's economy to leap forward despite negative factors from the global economic environment.
To Lam told nearly 1,600 party delegates that Vietnam aims for annual economic growth of no less than 10% until 2030, a figure higher than the previous target of 6.5 to 7.0% for the first half of the decade. This goal was set amid multiple challenges, including natural disasters, pandemic crises, and geopolitical conflicts affecting energy and food supply chains.
In his 40-minute speech, To Lam emphasized the need to "simplify complicated procedures and expand international trade cooperation to protect the nation's interests."
Notably, despite Vietnam facing a 20% import tariff imposed by the U.S. government under Donald Trump's administration last August, exports to the U.S. remain strong, reaching a record trade surplus last year. However, Vietnam is actively seeking new trade partners to mitigate potential future impacts from escalating U.S. tariffs.
The Vietnamese leader also promised to advance ongoing large-scale construction projects, includinga nationwide high-speed rail network valued at nearly 70 billion U.S. dollars (approximately 2.4 trillion baht).The rail line will connect to China, alongside plans to build a new airport near major cities to support regional expansion, as well as a third opera house in Hanoi designed by a renowned Italian architect, reflecting his personal appreciation for classical music.
This congress is viewed as a crucial platform where To Lam, a former Minister of Public Security, will attempt to retain his position as Communist Party General Secretary, the most powerful role, and potentially also assume the presidency, currently held by General Le Luong, who gave a brief speech before him.
To Lam has earned praise from foreign investors for decisive bureaucratic reforms but has faced criticism for large-scale civil servant layoffs and empowering the police to enforce laws and oversee businesses more strictly, sparking tensions between the security apparatus and the economically influential military faction.
. Reuters