The Global Competitiveness Report 2017-18 said the country had made notable improvements in all sectors, notably among the basic requirement factors (75th out of 137), which includes institutions, infrastructure, macroeconomic environment, health and primary education. Higher education and training also advanced (84th), as firms perceive that the lack of an educated workforce constitute a significant hurdle to doing business.
The report suggested 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.
