Communist Party General Secretary Nguyen Phu Trong was elected to a third term in 2021, but at age 80, he may not seek another term after 2026.
Trong is an ideologue who views corruption as the gravest threat facing the party. As Vietnam’s top security official, Lam has led Trong’s sweeping anti-graft campaign.
Lam spent more than four decades in the Ministry of Public Security before becoming the minister in 2016. His rise took place while Vietnam’s politburo lost six of its 18 members amid the expanding anti-graft campaign, including two former presidents and Vietnam’s parliamentary head.
Lam was behind many of the investigations into high-profile politicians, said Giang.
Prime Minister Pham Minh Chinh is seen as the other major contender to possibly succeed Trong, Giang said.
The current vice-speaker of Vietnam’s parliament was confirmed Monday as the National Assembly speaker after his predecessor, Vuong Dinh Hue, resigned amid the anti-graft campaign. Until his resignation, Hue was also widely seen as a potential successor to Trong.
This unprecedented instability in Vietnam’s political system has spooked investors as the country tries to position itself as an alternative for companies looking to shift their supply chains away from China.
A flood of foreign investment, especially in the manufacturing of high-tech products like smartphones and computers, raised expectations it could join the “Four Asian Tigers” — Hong Kong, Singapore, South Korea and Taiwan, whose economies underwent rapid industrialization and posted high growth rates.
But the scandals and uncertainty — including the death sentence for a real estate tycoon accused of embezzling nearly 3 percent of the country’s 2022 GDP — have brought with them uncertainty and bureaucratic reticence to make decisions. Economic growth slipped to 5.1 percent last year from 8 percent in 2022 as exports slowed.
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BY DAVID RISING, The Associated Press
The original AP text has been adapted to meet The Laotian Times’ content guidelines
