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(Reported by Midhat Fatimah; Edited by Elizabeth Schumacher)

Vietnam's Communist Party's Secretary General To Lam was unanimously elected by parliament as the country's president for a five-year term, making him the most powerful Vietnamese leader in decades.

After his swearing-in ceremony, Lam told the National Assembly that his top priority was to maintain peace and stability, which were the foundation for fast and sustainable growth.

"We aim to improve people's livelihoods so all can share the benefits of development," he said.

The parliament's website said that all 495 deputies present at Tuesday's National Assembly session endorsed the Communist Party's nomination, while five lawmakers were absent.

The lawmakers will elect a new prime minister later on Tuesday who will replace the outgoing Pham Minh Chinh.

Shift in Vietnam's political structure

The election of To Lam as the president marks a shift in Vietnam's power structure, wherein the positions of party secretary and state president have traditionally been held by different people.

The country's political structure now resembles that of China under Xi Jinping, as well as Laos.

Ananlysts believe that the consolidation of authority to one figure could lead to greater authoritarianism in the one-party state while also allowing faster decision-making like that in China.

In his speech, Lam called his new dual role a "huge honor" and a "sacred and noble duty."

What has To Lam promised?

To Lam has surprised the country with his quick pace of reforms. In less than two years, as party chief, Lam has swept aside his competitors and transformed the country through an aggressive reform drive — literally redrawing the map as he combined provinces and slashed bureaucracy.

He transformed the governance model in the country, scraping eight ministries while pushing massive infrastructure projects.

He has now proposed a "new growth model" that accelerates decision-making and accelerates the private sector to achieve double-digit annual growth for the next five years.

Lam has also said he would prioritize self-reliance in defense.

He said his top goals were to maintain stability, promote rapid and sustainable ‌national development and improve "all aspects of people's lives."

Disclaimer: This report first appeared on Deutsche Welle, and has been republished on ABP Live as part of a special arrangement. Apart from the headline, no changes have been made in the report by ABP Live.