Vietnam's Communist Party Charts Future Path at Key Congress

Vietnam's Communist Party concludes its 14th congress by selecting leadership and setting targets until 2030. Central Committee selects Politburo members, while current chief To Lam seeks to retain his role. Vietnam aims for economic growth while maintaining diplomatic balance through 'Bamboo Diplomacy'. Fiscal adjustments support infrastructure projects alongside private enterprise growth.

Vietnam's ruling Communist Party has concluded its 14th five-yearly congress, a crucial event that sets the direction for the nation's future. Approximately 1,600 delegates participated in the congress, selecting around 200 officials for the Central Committee. Subsequently, the Central Committee picks members for the Politburo, the party's most powerful body, which ultimately chooses the general secretary.

To Lam, the current party chief, received initial backing in December to continue in his leadership role. The final decision, however, rests with the newly elected delegates. The Politburo will soon nominate key governmental positions such as the president and the prime minister, with confirmations expected during a parliamentary session in April or possibly earlier.

In a speech, Lam underscored the importance of economic growth and policy continuity. He pledged an ambitious annual economic growth target above 10% through 2030, surpassing previous targets. The party emphasizes reducing bureaucracy and continuing its diplomatic stance known as 'Bamboo Diplomacy,' ensuring stability while fostering private enterprise and reducing reliance on foreign investment.

(With inputs from agencies.)