BowerGroupAsia wrote an update to clients on Vietnam’s 2026 elections.

Context

  • The Central Committee of the Communist Party of Vietnam convened its 10th plenum in Hanoi between September 18-20 to deliberate on key political issues. The meeting took place earlier than its normal schedule of early October. The delegates worked around the clock to complete the agenda for Communist Party General Secretary and President To Lam’s visit to the United States for the Future Summit of the United Nations General Assembly in New York between September 22-25.
  • During the three-day meeting, the delegates discussed several important issues for the coming political term (2026-2031) and current term (2021-2025). Delegates discussed candidates for the Politburo, Secretariat, and the Central Committee in the coming term; the nomination of candidates for minister of finance in the current term; and the selection of additional personnel to the Central Inspection Committee. They also discussed an amendment of the election rules of the Communist Party of Vietnam.

Significance

  • Candidates for membership in the Politburo, Secretariat and Central Committee of the coming political term have been voted on for the first time by the Central Committee. Additionally, two new members have been added to the Central Inspection Committee. Rumors suggested that Nguyen Huu Nghia, party secretary of Hung Yen province, has been nominated for minister of finance.
  • According to the party’s prevailing rules, candidates cannot be older than 65 for reelection to the Politburo and the Secretariat and 60 for reelection to the Central Committee, except for special cases determined by the Politburo. Currently, seven of 15 Politburo members will reach retirement age by January 2026. At least a few exceptional cases are expected. As the party’s election rules are being reviewed and revised, the age requirements may be reconsidered.

Implications

  • The Central Committee reached a consensus on several national matters on infrastructure and socioeconomic development. It endorsed the 2024 socioeconomic report, the state budget revenue-expenditure plan and the 2025 socioeconomic development orientation, which prioritizes environmental protection; international integration; digital transformation; green growth; and science, technology and innovation. There was also consensus on designating the North-South High-Speed Railway Project a political priority.
  • Companies should look out for new climate, investment and infrastructure initiatives. This includes a climate change adaptation plan for the Mekong Delta; critical infrastructure projects including seaports, airports, peaceful nuclear energy, digital infrastructure and sectoral data centers; and financial centers and commercial hubs.

We will continue to keep you updated on developments in Vietnam as they occur.

Best regards,

BowerGroupAsia

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BowerGroupAsia