Vietnam’s ruling Communist Party has finalized its candidate shortlist for the country’s top leadership positions during a two-day plenum in Hanoi, signaling the final stages of preparations ahead of the five-yearly party congress scheduled for January 19-25, 2026. While no names were officially released, Party General Secretary To Lam is widely seen as the leading contender to retain the nation’s most powerful position.

Plenum Finalizes Candidate Decisions

At the conclusion of the plenum, Lam confirmed that delegates “voted with a high level of support” for nominees to key positions. His remarks, published on the party’s official website, appeared to signal his likely nomination while remaining deliberately ambiguous in line with Vietnam’s secretive political practices.

Officials agreed to continue advancing public administration reforms and accelerate infrastructure development, two priorities championed by Lam during his brief initial term as party chief. This focus on reform and infrastructure has bolstered investor confidence, pushing Vietnam’s stock market close to new highs following the announcement.

To Lam Seeks Reappointment

Since succeeding the late Nguyen Phu Trong in July 2024, Lam has led significant administrative and economic reforms, drawing both domestic support and criticism for his assertive approach. Early speculation suggested Lam might attempt to consolidate power further by merging his post with the state presidency, mirroring strategies seen in other Communist nations such as China.

However, challenges in trade negotiations with the United States—including 20% tariffs imposed on Vietnamese goods in August 2025 despite prior concessions—may have moderated such ambitions for the time being.

Political Factions and Leadership Contenders

Speculation has intensified regarding the allocation of the country’s “five pillars” of leadership:

1. General Secretary
2. President
3. Prime Minister
4. Parliament Chair
5. Standing Member of the Party Secretariat

Two main factions dominate internal discussions:

• One aligned with To Lam and the Public Security Ministry
• Another associated with the military and corporate network, including telecom and defense giant Viettel

Current President Army General Luong Cuong could retain his post, or be replaced by Defense Minister Phan Van Giang. Prime Minister Pham Minh Chinh, a former security officer, may survive potential reshuffles, while other names floated for top positions include former central bank chief Le Minh Hung, police general Luong Tam Quang, and deputy prime minister Nguyen Hoa Binh.

Geographic representation may also influence final allocations, with leaders from northern provinces historically outnumbering those from the south. However, age exemptions have occasionally been granted, keeping the leadership options flexible.

Investor and Public Reactions

Market analysts note that the prospect of Lam’s reappointment and a clear leadership roadmap have contributed to political stability, a key factor for foreign investors and economic growth in Vietnam. Public discussions on social media reflect growing curiosity and speculation about leadership combinations, though final decisions will rest with a small circle of senior party leaders at the congress.