Vietnam's top leader To Lam has pledged to deliver annual economic growth of more than 10% for the rest of the decade, even as the country grapples with mounting global and domestic challenges.
He made the commitment while addressing delegates at the Communist Party congress in Hanoi on Tuesday, January 20.
The week-long congress, which began on Monday, January 19, is a key political event that will determine the party chief — the most powerful position in Vietnam — and outline the nation's economic direction through to 2030.
In his opening address, Lam warned that Vietnam is operating in an increasingly complex environment marked by natural disasters, epidemics, security risks, intensifying geopolitical competition, and disruptions to global energy and food supply chains.
A party document submitted to the congress set an ambitious target of at least 10% annual economic growth until 2030. This significantly exceeds the earlier goal of 6.5 to 7% growth for the first half of the decade, which Vietnam did not achieve.
Lam, 68, said the government was determined to push ahead with reforms to sustain rapid growth and safeguard national interests.
A former head of state security, Lam is seeking to retain his role as party chief and may also assume the presidency. He highlighted plans to further streamline public administration, following what he described as the most extensive overhaul of Vietnam's bureaucracy in decades, launched during his current tenure.
Lam said Vietnam would continue efforts to reduce red tape and deepen global trade links to strengthen economic independence. Despite the imposition of 20% tariffs by the United States in August under President Donald Trump's administration, Vietnamese exports to the US have continued to rise, resulting in a record trade surplus with Washington.
At the same time, Lam acknowledged the need to diversify trade partnerships, noting that the effects of US duties are expected to become more pronounced in the coming months. He said Vietnam is actively seeking to expand ties with other economic partners to mitigate external risks.
The leader also pledged to continue the fight against corruption, though the high-profile anti-graft campaign launched by his predecessor, Nguyen Phu Trong, slowed during Lam's tenure as authorities sought to accelerate project approvals to support growth.
Emphasising the importance of infrastructure, Lam said major projects must be developed to address climate change while enhancing regional and global connectivity. His leadership has overseen a surge in infrastructure spending that has bolstered economic expansion, although critics have raised concerns over potential inefficiencies, favouritism and waste.
The congress is expected to conclude later this week, setting the political leadership and policy priorities that will shape Vietnam's development over the next five years and beyond.
