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Vietnam business environment most improved 2003 to 2023: The Economist

Vietnam has taken out the top place in the most improved over the last 20 years category of The Economist’s business environment rankings for 2024. The publication cites Vietnam’s ascension to several free trade agreements as well as declining operational costs and increased public investment in human capital as driving the improvement. It also suggests this is likely to continue:

“In the next five years, Vietnam’s business environment will outperform regional peers, such as Indonesia and Thailand, given its participation in numerous free-trade agreements (FTAs), low labour costs and wide market opportunities”

But warns there are some obstacles.

“Vietnam will continue to lag behind regional peers in terms of the government’s institutional effectiveness. Moreover, amid a continued anti-corruption drive, businesses will suffer from cumbersome bureaucratic processes and administrative burdens,” it says. 

See also: Vietnam’s Economy in Q3 Beyond GDP Growth: Unpacked

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