To Lam's Bold Leadership: Vietnam's Path to Economic Transformation

Thu Jan 29 2026 20:15:27 GMT+0200 (Eastern European Standard Time)

Vietnam's Communist Party General Secretary To Lam embarks on a promising new agenda aimed at revitalizing the country's economy, raising questions about the practicality of his ambitious reforms.

To Lam has been reappointed to lead Vietnam's Communist Party, marking a pivotal moment in the nation's political landscape. Under his leadership, Vietnam seeks to implement bold economic reforms, emphasizing the role of the private sector while facing traditional challenges. This article explores the potential impact of To Lam's strategies on Vietnam's journey from a middle-income to an upper-income economy.

To Lam's Bold Leadership: Vietnam's Path to Economic Transformation

Welcome to the new era of national rise!

That was the pitch made by Vietnam's most powerful figure, Communist Party General Secretary To Lam, as he faced nearly 1,600 delegates at the party congress. The recent congress solidified his leadership role for another five years, giving him the opportunity to reshape Vietnam's economic landscape dramatically.

To Lam has promised ambitious economic reforms aimed at placing the private sector at the forefront of Vietnam's growth strategy. After his predecessors' tenure focused largely on anti-corruption, To Lam's approach is a marked change that anticipates the reduction of bureaucracy and revitalization of economic policies that may allow Vietnam to escape the middle-income trap.

With a strong emphasis on creating globally competitive companies referred to as "leading cranes," To Lam's vision includes doubling private businesses by 2030 and establishing the country as a driving force in the global economy by 2045. However, challenges remain, such as the struggle for private companies to thrive against well-established state-owned enterprises.

As Vietnam navigates these potentially transformative policies, the concerns surrounding political connections and market dependencies remind observers that To Lam's road to success may be fraught with complexity. Can his bold promises translate into a sweeping economic transformation?