The Report on Global Competitiveness 2011-12 by the World Economic Forum(WEF) ranks Vietnam 65th on the global competitiveness index (GCI)out of a total of 142 countries and territories surveyed, dropping sixplaces from last year.
The Global Competitiveness Reportwhich was made public on Sept. 7 was based on the Global CompetitivenessIndex ( GCI ), comprising 12 categories – the pillars ofcompetitiveness – which together provide a comprehensive picture of acountry's competitiveness landscape.
The pillars wereinstitutions, infrastructure, macroeconomic environment, healthcare andprimary education, higher education and training, goods marketefficiency, labour market efficiency, financial market development,technological readiness, market size, business sophistication andinnovation.
The only pillar Vietnam had progressed inwas macroeconomic environment, rising 20 places against last year, whilethe country had slumped in 10 of the other categories.
The WEF took a pessimistic view of Vietnam 's inflation rate, rising at double-digit pace at present.
WEF experts also warned about insufficient infrastructure in Vietnamthat was incapable of meeting economic demands and the high budgetdeficit of 6 percent in 2010.
The quality of education hadprogressed significantly over the last year but still only ranked inthe low-to-average group, the experts said.
Administrative procedures continued to be major barriers for investors to enter the Vietnamese market, they added.
Experts also advised Vietnam to work on issues surrounding intellectual property rights and corruption.
According to data published by the WEF, Vietnam 's population at theend of 2010 had reached about 89 million people with a gross domesticproduct (GDP) of about 103.6 billion USD, equivalent to 0.37 percent ofglobal GDP. The GDP per capita reached 1,174 USD a year. This figurewas considered a large step in helping Vietnam to become amiddle-income country, the WEF experts said./.
The Global Competitiveness Reportwhich was made public on Sept. 7 was based on the Global CompetitivenessIndex ( GCI ), comprising 12 categories – the pillars ofcompetitiveness – which together provide a comprehensive picture of acountry's competitiveness landscape.
The pillars wereinstitutions, infrastructure, macroeconomic environment, healthcare andprimary education, higher education and training, goods marketefficiency, labour market efficiency, financial market development,technological readiness, market size, business sophistication andinnovation.
The only pillar Vietnam had progressed inwas macroeconomic environment, rising 20 places against last year, whilethe country had slumped in 10 of the other categories.
The WEF took a pessimistic view of Vietnam 's inflation rate, rising at double-digit pace at present.
WEF experts also warned about insufficient infrastructure in Vietnamthat was incapable of meeting economic demands and the high budgetdeficit of 6 percent in 2010.
The quality of education hadprogressed significantly over the last year but still only ranked inthe low-to-average group, the experts said.
Administrative procedures continued to be major barriers for investors to enter the Vietnamese market, they added.
Experts also advised Vietnam to work on issues surrounding intellectual property rights and corruption.
According to data published by the WEF, Vietnam 's population at theend of 2010 had reached about 89 million people with a gross domesticproduct (GDP) of about 103.6 billion USD, equivalent to 0.37 percent ofglobal GDP. The GDP per capita reached 1,174 USD a year. This figurewas considered a large step in helping Vietnam to become amiddle-income country, the WEF experts said./.
