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The Global Competitiveness Report 2011-2012
Vietnam’s competitiveness assessment declines in this edition, dropping six places to 65th. The country loses ground in 10 of the 12 pillars of the GCI and only a significant improvement in the macroeconomic environment (65th, up 20 places) limits its fall in the rankings. Despite this considerable improvement, some macroeconomic challenges remain. The 2010 budget deficit was still too large, at 6 percent of GDP, and inflation moved back to near double-digit levels after having briefly receded the year before. Going forward, Vietnam will have to build on its strengths while addressing the economy’s numerous challenges. Among its competitive strengths are its fairly efficient labor market (46th) and its innovation potential (66th) given its stage of development, including its relatively large market size (33rd), which benefits from a particularly large export market.
However, the challenges going forward are numerous and significant. Infrastructure, strained by rapid economic growth, remains a major challenge for the country despite some improvement in recent years, with particular concerns about the quality of roads (123rd) and ports (111th). And although education appears to be satisfactory in terms of quality, enrollment rates at all levels remain low (64th, 103rd, and 110th for primary, secondary, and tertiary enrollments, respectively). In order to further improve its competitiveness, Vietnam must also continue to strengthen its institutional environment. Regulation is perceived as burdensome (113rd), with the number of procedures (9, 94th) and time (44 days, 119th) required to start a business making this a cumbersome process. In addition, there are concerns regarding the level of intellectual property protection (127th) and, to a lesser extent, the respect of property rights (98th). Finally, corruption is considered frequent and pervasive (104th).


Over the course of two decades Vietnam has emerged as an important regional economy in Southeast Asia. The country’s real gross domestic product (GDP) has grown by an average 7.3 percent over the last ten years.

Visualizing Vietnam Economy 2009

Vietnam economy visualizing 2009


Vietnam’s New Challenges Amid Signs of Overheating

By Shogo Ishii
Assistant Director, IMF Asia and Pacific Department

March 7, 2008

vietnam GDPvietnam trade deficit


An immediate policy challenge for Vietnam is to reduce domestic and external imbalances by:

+ Reining in rapid credit growth

+ Adopting greater exchange rate flexibility.

+ Restraining public sector expenditures.

+ Need for banking reform


1. Currency depreciation

2. Rising inflation

3. Lowering GDP growth

4. Widening trade deficit

5. Finance crisis

6. Economic bubble

July 2008 statistics ( comparing to Jan 2008 )

– Interest rate: 20%/year ( + 40% )

– Inflation rate: 26% ( + 20%)

– Exchange rate: 16,844 VND/USD ( + 5%)

Bloomberg forward: 22,575 VND/USD ( + 28%)

– GDP 2008: 5% ( – 3% from initial set 8%)

Cutting goverment spending, tightening public investment

– Trade deficit : $US 15 billion ( +

Import: $US 45 billion ( + 60%)

Export: $US 30 billion ( + 32%)

– Foreign currency reserve: $US 20.7 billion

Balance of payment surplus: $US 2.5 billion (estimated)

Vietnam Economics

* Avoiding the Middle-Income Trap: Renovating Industrial Policy Formulation in Vietnam –
* Concern rises in Vietnam over fiscal deficit –
* Deficit worries test Vietnam resilience –
* Once Enemies, Vietnam Now Fights for China Funds –
* The Miracles of Realism –
* Van Eck Launches First Vietnam ETF
* Vietnam Manages to Buck Global Slump –
* Vietnam state bank fails to sell 2 trln dong bonds –
* Vietnam Takes Measures to Spur Bank Lending –
* Vietnam’s rebounding economy: V not yet for victory –
* Vietnam’s Growing Pains –
* World Bank Vietnam Development Report 2009: Capital Matters –
* World Bank Vietnam’s Report 6/2008 –
* World Bank Vietnam’s Report 6/2009 –
* World Bank warns Vietnam on deficit –


3 Responses to “VIET NAM”

  1. Tino said

    I am a Vietnamese-American MBA student at the University of Virginia. I am currently doing research on the impact of Viet Kieu investments/remittances/entrepreneurs on the Vietnamese economy. It seems that you have been following the Vietnamese economy closely. If you don’t mind, may I contact you sometime to get your insights? Thank you for any help you can provide.


  2. Tino said

    I can be reached at:

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