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Vietnam’s economic freedom increases slightly: report

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