To Lam becomes Vietnam president, power shift ahead

The Vietnamese parliament unanimously elected Communist Party General Secretary To Lam as president, concentrating unprecedented power in the hands of one person, as he will hold the two highest positions in Vietnamese politics. He will remain head of the party and will now also lead the state.

Analysts say the move indicates a departure from collective leadership and a shift towards a model similar to China. It gives Lam a stronger mandate to push through reforms and strategic decisions.

In his speech, Lam emphasised innovation, technology and digital transformation as the main pillars of a new growth model. At the same time, he promised stability, economic development and improved living standards.

However, analysts warn that the concentration of power may also bring risks, in particular a strengthening of authoritarianism. Lam is seen as a pragmatic and pro-business leader who also supports domestic ‘national champions’. His policies, however, raise concerns about protectionism, corruption and economic bubbles.

(reuters, pir)