Vietnam moves up five places to the 55th on the Global Competitiveness Index, the World Economic Forum'report assesses the competitiveness landscape of 137 economies, providing unique insight into the drivers of their productivity and prosperity.
Vietnam moves up five places to the 55th on the Global Competitiveness Index, the World Economic Forum’report assesses the competitiveness landscape of 137 economies, providing unique insight into the drivers of their productivity and prosperity.
Vietnam’s competitiveness is significantly driven by its market size (31st). Although the withdrawal of the United States from the Trans-Pacific Partnership (TPP) earlier in 2017 eliminated significant trade opportunities, the country’s growth is nonetheless projected to remain robust from strong exports. 8 Significant improvements are necessary across all pillars, notably among the basic requirement factors (75th) and higher education (84th), as firms perceive that the lack of an educated workforce constitute a significant hurdle for doing business. Vietnam could also boost its competitiveness by closing gaps in innovation and sophistication factors with countries at a similar stage of development, such as the Philippines (56th).
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