Vietnam’s business environment and competitiveness in the 2016-2019 period: results, issues and solution

Vietnam’s business environment and competitiveness in the 2016-2019 period: results, issues and solution

Vietnam’s business environment and competitiveness in the 2016-2019 period: results, issues and solution

Over the years, Vietnam has made many reforms and has become a dynamic player of the global economy. Vietnam's economy continues to grow, people's living standards and incomes have been improved, poverty rates have fallen, thus it has become an increasingly attractive destination for investors.
Despite many achievements in economic development, the economy has been showing intrinsic problems and weak competitiveness in many aspects. Vietnam's income level is still low, even when compared to its regional neighbors. According to the World Economic Forum, the income gap between Vietnam and the average of developing countries in Asia is widening. Moreover, the existing macroeconomic uncertainties show that Vietnam's growth is still fragile. The external evolutions and changes are happening quickly and intricately, which also has strong effect on Vietnam’s economy. It is important to note that in the world, countries compete with each other through improving the business environment, national competitiveness, competence of industries and enterprises.

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