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Vietnam ranks fifth in economic openness in Asia: Fitch

by VTV426 August 2022 Last updated at 15:57 PM

Vietnam ranks fifth out of 35 Asian markets in terms of economic openness, according to a report by market researcher Fitch Solutions.

In Asia, Vietnam was outperformed by Singapore, Hong Kong of China, Macao and Malaysia. Globally, it ranks 20th out of 201 markets.

Fitch’s economic openness rankings are generated by two main indicators: trade and investment openness, which are based on import, export and foreign direct investment values as a percentage of GDP.

Vietnam scored 89.2 in terms of trade openness, ranking second in the region and fifth globally, thanks to its attractiveness as a destination for businesses looking for alternatives to China or adopting a "China plus One" supply chain policy to reduce manufacturing dependence on the country.

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