The State Bank of Vietnam published an update on its participation in a nationwide conference convened by the Politburo and the Party Secretariat to disseminate and implement Politburo Resolution 66 on renewing law-making and law enforcement and Resolution 68 on developing the private sector economy. The conference was held in a hybrid format with the State Bank of Vietnam’s leadership, Party committee and Party members attending from the central bank’s connection point. Prime Minister Pham Minh Chinh presented the core content of Resolution 68 and the Government’s action plan, highlighting the private sector’s role in the economy and setting out priorities such as institutional reform, improved access to resources, and support for innovation and digital transformation, alongside support measures for large firms and for small, micro and household businesses. The presentation also cited indicators including nearly 1 million operating businesses, an estimated contribution of around 50 percent of GDP, 6 to 8 percent annual growth since 2016, and average employment of more than 43.5 million people in 2017 to 2024, while noting constraints such as the dominance of small and micro firms and low participation in foreign direct investment supply chains at about 21 percent. Implementation is being advanced through the Government’s action plan under Resolution 138/NQ-CP, the National Assembly’s Resolution 198/2025/QH15 on special mechanisms and policies for private sector development, and the Government’s Resolution 139/NQ-CP on implementation; National Assembly Chair Tran Thanh Man outlined Resolution 66 and flagged persistent shortcomings in law-making and enforcement, while General Secretary To Lam positioned Resolutions 57, 59, 66 and 68 as a combined set of “four pillars” to be implemented in parallel.

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