Vietnam's recent drop in the Tourism Development Competitiveness Index underscores traditional bottlenecks in the tourism sector and highlights the crucial role of stakeholders in addressing these challenges.
Overcoming supply chain woes could boost Vietnam's economy by $1.9 billion and strengthen businesses’ operations and their competitiveness on the global stage over the long term.
Shifting to green economy and green growth will help businesses increase their competitiveness and catch up with trends on the domestic and foreign markets.
It is important that Vietnam takes action now to maintain its regional and global competitiveness, and not lag in economic recovery, leading foreign business associations have claimed.
Vietnam has made the best progress among ASEAN countries in term of competitiveness ranking and the best improvement in Asia-Pacific in international openness and air transport infrastructure.
With 70.36 out of 100 points in the provincial competitiveness index, Quang Ninh shows the best business environment in Vietnam, followed by Dong Thap, Long An and Ben Tre.
Despite attaining higher score, Vietnam has fallen three places in the global competitive ranking.
Vietnam develops but does not follow the value chain and the way economy grows in the future, whilst building many roads does not bring efficiency, according to experts.
While Vietnam has made great progress in reducing tariffs, there remains significant potential to reduce trade costs through rationalization of non-tariff measures or specialized controls, more efficient border management and logistics.
The State Bank of Vietnam recently approved two leading commercial banks, namely VPBank and MB to raise its charter capital, the move being considered as necessity to increase their competitiveness and satisfy with standards of Basel II to control risks of credit, market and operation.
Umeda Kunio, Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam, said that Vietnam needs to improve productivity and competitiveness of government in the context as today.
Besides returning to Vietnam’s market through its exclusive distributor, Ssangyong Motor Company also plans to assemble cars in Vietnam for the purposes of lowering prices and increasing competitiveness vis-à-vis CBU (completely built-up) cars imported from ASEAN countries.
The World Economic Forum (WEF) today released its Global Competitiveness Report 2017-2018, presenting big gain for Vietnam's economy.
