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 six places from last year.
The Global Competitiveness Report which was made public on Sept. 7 was based on the Global Competitiveness Index ( GCI ), comprising 12 categories – the pillars of competitiveness – which together provide a comprehensive picture of a country's competitiveness landscape.
The pillars were institutions, infrastructure, macroeconomic environment, healthcare and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication and innovation.
The only pillar Vietnam had progressed in was macroeconomic environment, rising 20 places against last year, while the 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 Vietnam that was incapable of meeting economic demands and the high budget deficit of 6 percent in 2010.
The quality of education had progressed significantly over the last year but still only ranked in the 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 the end of 2010 had reached about 89 million people with a gross domestic product (GDP) of about 103.6 billion USD, equivalent to 0.37 percent of global GDP. The GDP per capita reached 1,174 USD a year. This figure was considered a large step in helping Vietnam to become a middle-income country, the WEF experts said./.
The Global Competitiveness Report which was made public on Sept. 7 was based on the Global Competitiveness Index ( GCI ), comprising 12 categories – the pillars of competitiveness – which together provide a comprehensive picture of a country's competitiveness landscape.
The pillars were institutions, infrastructure, macroeconomic environment, healthcare and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication and innovation.
The only pillar Vietnam had progressed in was macroeconomic environment, rising 20 places against last year, while the 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 Vietnam that was incapable of meeting economic demands and the high budget deficit of 6 percent in 2010.
The quality of education had progressed significantly over the last year but still only ranked in the 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 the end of 2010 had reached about 89 million people with a gross domestic product (GDP) of about 103.6 billion USD, equivalent to 0.37 percent of global GDP. The GDP per capita reached 1,174 USD a year. This figure was considered a large step in helping Vietnam to become a middle-income country, the WEF experts said./.
