To Lam’s Vision for a Rising Vietnam: Rapid Development and Prosperity

The content analyzes the ambitious development strategy of General Secretary To Lam, aimed at ushering Vietnam into a “new era of national rise,” with a focus on rapid economic growth, large-scale infrastructure investment, and expanding international influence. He has set a target of achieving approximately 10% GDP growth in the coming years, viewing this as a foundation for elevating Vietnam to high-income status by 2045.

One of the key highlights of the plan is the strong push for major infrastructure projects. The government is expected to invest tens of billions of US dollars in projects such as airports, high-speed railways, and nuclear power plants. A notable example is a new urban development project in Hanoi valued at US$38 billion, featuring a massive 135,000-seat stadium, aimed at easing congestion and creating a symbol of national development.

The strategy emphasizes “speed” — accelerating project approvals and implementation, reducing administrative procedures, and streamlining the state apparatus. Recent reforms have significantly reduced the number of civil servants and administrative units, helping to shorten decision-making time and improve the effectiveness of investment attraction.

In addition, To Lam is promoting the private sector as the main driver of economic growth. The government aims to develop “national champions” capable of competing globally, while reducing reliance on foreign investment and the traditional export-led model. At the same time, Vietnam continues to strengthen international relations to attract capital, technology, and enhance its global standing.

However, the plan also faces several challenges. Large-scale infrastructure spending poses potential financial risks and concerns over investment efficiency, while rapid reforms may encounter resistance from the existing bureaucracy and vested interest groups. Furthermore, pursuing high growth targets amid global economic volatility, trade competition, and geopolitical risks remains a significant concern.

Cre: To Lam’s blueprint for a rising Vietnam: build fast, grow rich | South China Morning Post