It was founded in 1944 by Huỳnh Phú Sổ, the founder of Vietnamese new religious movement Hòa Hảo.

The party was formed through the unity of a sector of socialist-minded people in Saigon and some provincial sect leaders.

Huỳnh Phú Sổ was killed by the Việt Minh in 1947, after which the party was dissolved.

In February 1955, General Nguyễn Giác Ngộ of Hòa Hảo claimed that the party had been revived.

[1][2] The party obtained three seats in the 1959 National Assembly election of South Vietnam.