World Economic Forum puts Vietnam in 56th place with a competitiveness score of 4.3.
The World Economic Forum (WEF) has released the Global Competitiveness Report (GCR) 2015-2016, in which
There was no change to the Top 3 most competitive economies in the world this year, remaining at
In Southeast Asia Vietnam is behind Singapore (2nd), Malaysia (18th), Thailand (32nd), Indonesia (37th), and the Philippines (47th), but still ranks higher than Laos (83rd), Cambodia (90th), and Myanmar (131st).
According to GCR, competitiveness includes institutions, policies, and factors that determine the level of productivity in the economy. Productivity determines the level of prosperity a country can achieve.
The report also showed that most developing economies have recovered from the global financial crisis. There are some worrying signs, however, showing that productivity growth in the global economy is not as high as previously. Comparing productivity growth from 2005 to 2015 with 1995 to 2005, many major economies are showing signs of decline, except for
Top 10 most competitive economies
Ten weakest economies in competitiveness
7. Hong Kong
4. Sierra Leone