Vietnam’s Communist Party meets to choose leaders, set economic goals

(MENAFN) Vietnam’s ruling Communist Party convenes its five-year congress to select top leaders and chart the future course for the nation’s fast-growing economy. The meeting, held behind closed doors, determines the party’s leadership, including the powerful position of general secretary, and sets major policy directions in both economic and foreign affairs.

Current general secretary To Lam is widely seen as the frontrunner to retain the top post. Since assuming office in August 2024, the 68-year-old has pursued ambitious reforms aimed at sustaining Vietnam’s economic momentum.

Vietnam has long sought to replicate China’s export-driven growth. The country remains Southeast Asia’s fastest-growing economy and a hub for export-led manufacturing, yet it faces persistent challenges. Corruption has toppled previous leaders, and American tariffs continue to pose risks. Initially threatened with levies of 46%, Vietnamese goods now face 20% tariffs in the US, though exports to the country still rose 28%, a record high.

The one-party system, offering policy continuity, has attracted substantial foreign investment, particularly from firms diversifying supply chains away from China. Leaders aim to maintain growth despite the uncertainty caused by US trade policy. The government has set an ambitious target of 10% growth for 2026, building on decades of steady expansion above 6%.

Experts note that achieving this goal will be challenging, but fulfilling economic promises remains vital for maintaining the legitimacy and authority of the Communist Party.

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