Vietnam's President To Lam Steps In as Communist Party Chief Amid Health Speculations

In a significant development, Vietnam's President To Lam has assumed the responsibilities of Communist Party chief Nguyen Phu Trong. The 80-year-old Trong is currently receiving unspecified health treatment, a situation that has sparked months of speculation regarding his well-being.

Lam, who previously headed internal security, is widely regarded as a top contender to replace Trong when his term ends in 2026. The Politburo has appointed him to temporarily oversee the Party Central Committee, the Politburo, and the Secretariat.

For Lam to be officially named acting party chief, a new Politburo decision is required. Despite Vietnam having no formal paramount leader, the party chief holds the most powerful position in this Communist-ruled nation. Meanwhile, financial markets responded positively, with Vietnam's main stock market edging up 0.5% following the announcement.

(With inputs from agencies.)