This is the highest GII ranking Vietnam has held so far.
From third position in 2016, Vietnam has risen to lead the group of middle and lower-income economies in terms of GII this year, scoring 38.34 in total.
The country ranks ninth in Southeast Asia, East Asia and Oceania and sits above Thailand (51st globally) within the Association of South East Asian Nations (ASEAN) region.
Vietnam holds the second highest ranking in Southeast Asia, East Asia and the Oceania region in terms of expenditure on education and also performs well in labor productivity growth, economy-wide investment, and foreign direct investment net inflows.
The progress seen in most indicators of the GII 2017 report are the result of Vietnam’s development process over the past years, as the entire political system has exerted joint and drastic efforts aiming to improve the business climate and enhance the country’s competitiveness and innovation capability.
From 2014 to 2017, the Vietnamese government has issued resolutions on key tasks and measures to improve the business environment and strengthen national competitiveness, with specific goals associated with measurable indicators following globally recognised standard methods.
The constant rise in Vietnam’s international business climate ranking in recent times has demonstrated the country’s increasingly improved business climate as well as the business community’s enhanced trust in the national business environment.
