On a scale of 100, Vietnam is assessed to reach 61.5 points, up sharply from 58.1 points last year.
In the 12 pillars evaluating the WEF-given indicators, Vietnam is rated the highest in economic health with 81 points. Meanwhile, the index of creative ability is rated the lowest when only 37 points.
However, Vietnam’s creative capacity has improved scores compared to the previous period and most of the measure, Vietnam increased points compared to the same period last year.
103 criteria are divided into 12 pillars. These pillars are divided into 4 main groups, including Favorable Environment (Institutions, Infrastructure, Universalization of information technology - telecommunications, Macroeconomic stability), Markets (Products, Labor , Financial Systems, Market Size), Human Resources (Health, Skills) and Innovative Breakthrough Ecosystems (Business Mobility, Breakthrough Capabilities). For each pillar, the WEF uses a scale of 100 to assess whether the economy is close to an ideal or nascent competitive state.
In 2019, Singapore surpassed the US to become the world’s most competitive economy with a score of 84.8%.
Among the top 10 countries in the national competitiveness index, most come from developed economies in Europe and East Asia such as Germany, the Netherlands, Denmark, Sweden, Japan and Hong Kong.
In ASEAN, besides Singapore, the competitiveness of Vietnam’s economy still lags behind countries such as Malaysia ranked 27th, Thailand 40, Indonesia 50, Brunei Darussalam 56 and Philippines 64. Vietnam Only more than countries like Myanmar, Laos, and Cambodia.
Recently, Vietnam’s economy has been evaluated quite brightly by domestic and international organizations. The General Statistics Office (Ministry of Planning and Investment) has just released a report on socio-economic situation in the first 9 months of which emphasized GDP growth of 6.8%, the highest increase compared to the same period of the last 9 years. .
Organizations such as the Institute of Certified Public Accountants of England and Wales (ICAEW) also affirmed that Vietnam’s growth is currently the highest in Southeast Asia. The organization said that even if Vietnam’s economic growth in 2019 reached only 6.7%, it would outperform the remaining economies.
Recently, the Asian Development Bank (ADB) recently issued a notice mentioning Vietnam’s growth. In particular, ADB affirmed that Vietnam’s economy maintained high growth in 2019 and 2020, at 6.8% and 6.7%, respectively.
Recently, Vietnam has actively participated in and signed many major bilateral and multilateral trade agreements with regional and international playgrounds, such as joining the signing of the Comprehensive and Progressive Partnership Agreement. Asia-Pacific (CPTPP) and the Free Trade Agreement with EU economies, are negotiating a separate trade agreement with the US, along with joining the RCEP Inter-Regional Agreement ...
Along with joining the new generation FTAs, Vietnam signed and pledged to open the market for many goods and pledges to reform the public sector, including public investment, public administration reform. service...
Although there are many positive signs, there are still many points in the Vietnamese economy that need to be reformed and improved quickly such as the quality of growth is not high, the coefficient of ICOR capital is still high, the disbursement of public investment - Priming capital for development is still low. In the past 2-3 years, there is a lack of large-scale projects that lead other regions to develop.
Besides, Vietnam still faces difficulties in restructuring State-owned enterprises and equitization efficiency is not high. In particular, with the context of the Industrial Revolution 4.0, Vietnam still lacks resources, policies and infrastructure to utilize innovations, manufacturing facilities, new business areas, business sectors. new to development, creating added value and building new resources ...
This has been the immediate and long-term challenge of Vietnam to catch up and compete with other countries in the region.
