Vietnam’s economy breaks into moderately free category for 1st time

8 March, 2021 12:00 AM printer

Hanoi: Vietnam’s economic freedom score is now 61.7, making its economy the 90th freest in the 2021 Index of Economic Freedom.

In the Index, released by the Heritage Foundation, the country’s overall score has increased by 2.9 points, primarily because of an improvement in fiscal health, report agencies.

Vietnam is ranked 17th among the 40 countries in the Asia–Pacific region, and its overall score is above the regional and world averages.

The country’s economy broke into the moderately free category this year for the first time. Its ranking could increase further if the government took additional action to liberalise investment rules and the financial sector, according to the Foundation. Three of the top 10 finishers — Singapore (1st), Ireland (5th), and China’s Taiwan (6th) — recorded score increases this year.

Launched in 1995, the Index evaluates countries in four broad policy areas that affect economic freedom: rule of law; government size; regulatory efficiency; and open markets.

 


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