Vietnam’s Leader Consolidates Power, Pledging ‘New Era of Prosperity’
AI Summary
To Lam, Vietnam's Communist Party chief, has consolidated power by also becoming the nation's president at the party congress in January 2026. This move, concluded ahead of schedule, signals a shift away from the traditional power-sharing structure and towards a stronger leadership model, similar to China. Lam's dual role reflects Vietnam's urgency for economic reform amid global uncertainty. His agenda focuses on private sector growth, government digitization, and reducing bureaucratic obstacles to business. These reforms are considered the most significant since the late 1980s, driven by Vietnam's desire to catch up with other successful Asian economies.
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