The 14th National Congress of the Communist Party of Vietnam (CPV) kicked off Tuesday, revealing the ambitions and anxieties of the party’s top brass and the country’s economic priorities for the next five years.
Addressing the 1,586 delegates in Hanoi, CPV General Secretary To Lam said Tuesday that Vietnam would aim for 10 per cent GDP growth from 2026–30, continue to slash government spending, and double down on anti-corruption initiatives.
The congress, which wraps on Sunday, will look to project stability, continuity, and a dash of ambition.
Lam is the star of the show in Hanoi; he is expected to secure a five-year term after assuming the role in 2024. Some observers suggest Lam could further consolidate his power by merging the offices of general secretary and president.
Vietnamese President Luong Cuong noted in his address “rapid, complex, and unpredictable developments” globally and “intensifying strategic competition.” He also acknowledged Vietnam’s underperforming economy and sluggish productivity.
Stuck in the middle with you
The congress will largely look inwards, focusing on domestic issues and leaving intact Vietnam’s hard-won external orientation: a balancing act between the U.S. and China, known as ‘bamboo diplomacy.’
In 2026, Vietnam is the president of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP); Canadian Prime Minister Mark Carney wrote in a December op-ed about “bringing together” the CPTPP and the European Union and dispatched his Personal Representative to the European Union, John Hannaford, to convene senior Canadian, Vietnamese, and European officials to this end.
In Davos, he reiterated that Ottawa is “championing efforts to build a bridge” between the CPTPP and the EU.
Vietnam is Canada’s largest trade partner in Southeast Asia, with bilateral merchandise trade hitting C$15.7 billion in 2024.
