In a significant move towards combating corruption, Vietnam's National Assembly has chosen Minister of Public Security To Lam as the country's new president. At 66 years old, Lam, who previously held the position of Minister of Public Security and served as the deputy head of the Communist Party's anti-corruption committee, now steps into the role of the nation's third president in less than two years. His predecessors had resigned due to suspected violations, potentially detected by the very ministry overseen by Lam.
Accepting the position with a profound sense of honor and responsibility, Lam expressed his commitment to resolutely tackling corruption and misconducts. He emphasized the need for support and cooperation from the party central committee, the parliament, and the government in this endeavor. Lam's election comes at a crucial time, amidst an ongoing anti-graft campaign spearheaded by Communist Party General Secretary Nguyen Phu Trong, which has led to the investigation of high-ranking officials including two deputy prime ministers and a parliament chairman, along with several other government authorities and business figures.
Following the parliamentary vote that elected Lam as president, the government promptly revoked his public security position. Deputy Minister of Public Security, Tran Quoc To, has been appointed to oversee the ministry until a replacement for Lam is identified. While the presidency in Vietnam holds a ceremonial role, it stands as the second most important position in the political hierarchy and could potentially pave the way for Lam to succeed Trong as the party chief in 2026.
Recognized for his significant contributions in combating corruption, Lam played a pivotal role in improving Vietnam's ranking in Transparency International's corruption perceptions index from 113 in 2016 to 83 last year. However, despite Lam's election as president, it is projected that economic and foreign policies will continue to be determined by the Politburo and the central committee, with minimal alteration anticipated.
In response to Lam's election, Vietnam's benchmark stock index saw a rise of up to 0.5% in trading in Ho Chi Minh City, while the dong remained close to its record low of 25,465 to the dollar. As Vietnam forges ahead under the leadership of its new president, To Lam, the nation stands at a critical juncture in its ongoing fight against corruption and commitment to upholding integrity in governance.