Canada’s Fraser Institute has ranked Vietnam 106th out of 165 countries on its Economic Freedom of the World: 2023 Annual Report, VN Express is reporting. The article carries comments from Dinh Tuan Minh, head of research at Market-based Solutions Center for Social and Economic Issues, in which he says “This is good evidence to confirm that Vietnam is basically operating as a market economy.” These comments are timely in that Vietam has been actively pushing the US to redesignated Vietnam as a market economy (as opposed to a non-market economy).
Economic Freedom of the World Report Vietnam, Rating and Rank, 2013 to 2023
Year | Rating | Rank |
2013 | 5.76 | 134 |
2014 | 5.79 | 135 |
2015 | 5.83 | 132 |
2016 | 5.95 | 127 |
2017 | 5.98 | 129 |
2018 | 6.12 | 121 |
2019 | 6.15 | 125 |
2020 | 6.19 | 110 |
2021 | 6.26 | 106 |
2022 | 6.42 | 113 |
2023 | 6,26 | 106 |
Economic Freedom of the World Report Vietnam, Key Metrics, 2013 to 2023
Criteria | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
1. Size of Government | 5.43 | 5.75 | 5.98 | 5.86 | 5.8 | 6.42 | 6.53 | 6.56 | 6.53 | 6.96 | 6.53 |
2. Legal System & Property Rights | 4.7 | 4.77 | 4.82 | 4.86 | 4.88 | 4.81 | 4.81 | 4.96 | 5.15 | 5.1 | 5.15 |
3. Sound Money | 5.98 | 6.14 | 6.14 | 6.45 | 6.73 | 6.83 | 6.86 | 6.96 | 7.02 | 6.9 | 7.02 |
4. Freedom to Trade Internationally | 6.7 | 6.33 | 6.17 | 6.44 | 6.46 | 6.47 | 6.44 | 6.4 | 6.52 | 6.1 | 6.52 |
5. Regulation | 6 | 5.98 | 6.05 | 6.15 | 6.01 | 6.05 | 6.1 | 6.08 | 6.1 | 7 | 6.1 |