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Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

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  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

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Ho Chi Minh City
Thursday, May 29, 2025

Party pledges deep reform to fuel national development

The Saigon Times

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HCMC – The Communist Party of Vietnam’s Central Committee today, January 24, concluded a two-day plenum that outlines comprehensive plans to streamline the political system and accelerate economic growth.

Speaking at the closing session, Party General Secretary To Lam underscored the critical need for “breakthroughs of breakthroughs” in institutional reform, recognizing this as a pivotal step in achieving broader national development goals.

The Party Central Committee (PCC) meeting underscored the importance of Resolution 18, which was issued in 2017 to streamline the political system for greater efficiency and effectiveness.

The restructuring aims to cut intermediate administrative levels, including district-level police forces, to streamline operations, improve service delivery, and optimize the allocation of national and local resources.

The plenum mandated that relevant agencies promptly enact legislation to implement the restructuring of Party organizations, the National Assembly, the Vietnam Fatherland Front, and the Government, with the completion date set for the first quarter of 2025.

Economic growth remains a key objective to the country. The PCC set a target of at least 8% economic growth in 2025, with a longer-term vision of achieving double-digit growth in subsequent years.

The PCC recognizes the crucial importance of cultivating a dynamic business environment, which will be fostered by streamlining regulations, reducing administrative burdens, and creating a more conductive environment for business growth.

Substantial investments in critical infrastructure, such as transportation, energy, and digital infrastructure, are essential to support economic development and improve connectivity.

The nation will foster a culture of innovation and support the development of emerging technologies, such as 5G, 6G, and artificial intelligence. Vietnam will also actively attract and cultivate top talent, both domestic and foreign, to drive innovation and enhance the country’s competitiveness.

During this plenum, the PCC has appointed new members to the Politburo, the Secretariat, and the Inspection Commission. These personnel decisions aim to strengthen the Party’s leadership, enhance oversight, and prepare for the upcoming 14th National Party Congress.

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