Vietnam moves up 12 places in EIU’s business environment ranking
Vietnam is considered the country that has improved the most in promoting a fair, transparent, and favorable business environment.
Vietnam has emerged as the world's most dynamic country, jumping 12 places in the Economist Intelligence Unit's (EIU) business environment ranking of 82 countries.
|Production of household appliances at Hanoi Plastic Company. Photo: The Hanoi Times|
The report highlights that Vietnam, along with Thailand and India, is considered the Asian country that is making the most progress in terms of business development.
The EIU report evaluates the business environment using a standardized analytical framework of 91 indicators.
Singapore retained its top position in the latest ranking, while Vietnam showed the most notable improvement. Conversely, China's score dropped significantly due to regulatory changes and escalating costs.
Over the past year, Vietnam, Thailand, Belgium, Sweden, India, and Costa Rica have made notable progress, the EIU said.
"The global business environment rankings may continue to face headwinds from the war in Ukraine, the ensuing spike in inflation and cost of living crisis, and the current combination of fiscal loosening and monetary tightening amid an economic slowdown," said Prianthi Roy, EIU Country Forecast Manager, and Europe Analyst.
Vietnam's rise of 12 places positions it as the world's most dynamic country, followed by Thailand's rise of 10 places and India's rise of 6 places. The report also shows that Vietnam and Thailand have implemented favorable policies to attract foreign investors.
Based on data from the Foreign Investment Agency of the Ministry of Planning and Investment, the total committed foreign direct investment (FDI) in Vietnam stood at US$8.88 billion as of April 2023. This figure represents a growth of 82.1% over the same period last year. The realized capital from foreign investment projects is estimated at around US$5.85 billion, a slight decrease of 1.2% compared to the same period in 2022.
- Vietnam moves up 12 places in EIU’s business environment ranking
- Vietnamese Gov’t aims to approve North-South express railway project by 2025
- US-based infrastructure investment fund promises US$1 billion for Vietnam
- Vietnam ready upgrade US ties on 10th anniversary of comprehensive partnership
- Largest-ever US business delegation seeks investment opportunities in Vietnam
- China's Sunny Group plans US$2.5 billion investment in Vietnam
- $8 billion to be pumped into Vietnam’s Central Coast
- FDI to Vietnam’s real estate rises by over 70% in 2022
- Laos vows to facilitate Vietnam's investors
- Hanoi lures nearly $1.7 billion in foreign investment in 2022
Students in Hanoi sit for the 10th grade entrance exam
Vietnam News Highlights for June 10
French-Vietnamese singer The Rodeo to perform in Hanoi
Hanoi, Copenhagen join hands in green city development
Michelin stars to motivate Vietnamese cuisine
Red River - a centerpiece in Hanoi’s green development
New apartment buildings must have life span: Hanoi Party Chief
Hanoi Times Weekly Podcast
Vietnam’s Reunification Express named world’s most incredible rail journey: Lonely Planet