The BGA Vietnam team wrote an update on the 16th National Assembly’s first session and the approval of Vietnam’s new leaders.

Context

  • Vietnam’s newly elected 16th National Assembly (NA) began its first session April 6. The meeting is scheduled over two weeks: from April 6-11 and from April 20-24. During the first three days of the meeting, the National Assembly voted to approve key leadership positions nominated by the Central Committee of the Communist Party of Vietnam (CCCPV), including the NA chairman, state president, prime minister and Cabinet members. The agenda also includes discussions and approvals for eight draft laws, one resolution and various socioeconomic, state finance and budgetary issues.

Significance

  • As expected, all the leaders nominated by the CCCPV at the national congress in January have been approved by the National Assembly with a high number of votes.
    • Communist Party General Secretary To Lam has been approved to also serve as state president with 100 percent of the vote. Combining these two positions is expected to improve coordination between the party and state, especially on matters of foreign affairs. For businesses, the change will create new opportunities to connect with both the party and state leader, facilitating diplomatic and business interactions.
    • Le Minh Hung has been appointed prime minister for the upcoming five-year term (2026-2031), succeeding Pham Minh Chinh, who will be retiring. Hung will be assisted by six deputy prime ministers, four of whom are newly appointed. Of the new deputies, only Nguyen Van Thang, the former minister of finance, has a background in finance, banking and economic management. Thang’s prior roles include serving as minister of finance, minister of transportation, party secretary of Dien Bien province, vice chairman of Quang Ninh province and chairman of Vietnam Bank of Industry and Trade. He is expected to oversee finance, banking and investment, including foreign direct investment.
    • Tran Thanh Man has been reelected chairman of the National Assembly. He will be supported by five vice chairs, including two new appointees. Notably, Nguyen Thi Hong, the former governor of the State Bank of Vietnam, has been named vice chairwoman of the NA. Given her background, she is expected to oversee legislative and supervisory work related to economic, financial and budgeting matters.

Implications

  • A total of 17 ministers and heads of ministerial ranking agencies have been named. Nine are newly appointed, six have been reelected and two have been promoted from acting ministers to full ministers. Along with the new ministers and four new deputy prime ministers, most of the Cabinet is composed of fresh faces, expected to inject new energy and ideas into the administration.
  • The new Cabinet is expected to be settled and transitioned from the current administration by the end of April. The incoming prime minister will soon announce the duties and assignments of deputy prime ministers. At the ministerial level, notably within ministries experiencing leadership changes, adjustments to departmental personnel are expected. Furthermore, ongoing restructuring efforts in certain ministries and government agencies will likely persist, aiming to reduce the number of units and enhance administrative efficiency and organizational structure. A chart of the new Cabinet members and biography of the new prime minister can be found in the annex for reference.

We will continue to keep you updated on developments in Vietnam. If you have any comments or questions, please contact do not hesitate to contact us.

Best regards,

BGA Vietnam Team

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