Under Prime Ministerial Decision No. 1186/QD-TTg, dated June 19, 2025, signed by Prime Minister Pham Minh Chinh,  a list of members of the National Steering Committee for the implementation of Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development has been approved, according to a report from the Government News.

The National Steering Committee was headed by Prime Minister Pham Minh Chinh, while Deputy Prime Minister Nguyen Chi Dung was appointed as Standing Deputy Head of the Committee, and Minister of Finance Nguyen Van Thang shall serve as Deputy Head. Other members included leaders from various ministries, sectors, and localities.

The Steering Committee shall be responsible for advising the Prime Minister on key inter-sectoral issues related to private economic development. It also coordinates the efforts of ministries, government agencies, and local authorities in order to effectively implement the resolution and meet its objectives.

The Committee shall work on the basis of principles of centralization, democracy, open discussion, and unified leadership.

The Prime Minister, as Head of the Committee, has final authority on all decisions. Deputy Heads are authorized to decide on certain specific matters as assigned. Committee members have to carry out their designated tasks and lead relevant authorities within their management scope to implement the assigned responsibilities.

Private economic development in Vietnam is a critical pillar of the country's economic strategy and modernization efforts under Politburo's Resolution No. 68-NQ/TW.

The private sector contributes approximately 42 per cent of GDP, employs over 85 per cent of the workforce, and accounts for a growing share of domestic investment.

Earlier, the Government issued Resolution No. 139 approving an action plan to implement Resolution No. 198/2025/QH15 dated May 17, 2025, of the National Assembly on several special mechanisms and policies to promote private sector development.