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Legal Knowledge /8/11/2019

Vietnam has been ranked in the top 20 best economy for investment

According to information from Chinhphu.vn, recently, US News & World Report has announced the ranking of countries which are the best economies to invest in 2019, accordingly, Vietnam ranked 8th in the top 20, up from position 23 of last year.

In order to announce this ranking, US News & World Report surveyed more than 21,000 people from 80 countries around the world, including the opinion of about 7,000 leaders around the world.

The assessment is based on 8 criteria, including entrepreneurship, economic stability, favorable tax policy, creativity, skilled labor, technology expertise, dynamism and participation corruption issues.

These criteria are based on a 2011 World Bank report that focuses on four factors to help a country become a good investment location: people, environment, relationship and legal framework. That promote both individuals and organizations to invest in natural resources, financial markets, technology or brands of that economy.

This list has a big difference compared to last year. More than half of the countries in the top 20 did not even rank last year. In particular, Vietnam has risen from the 23rd position last year to the 8th position this year, surpassing its Southeast Asian neighbors such as Malaysia, Indonesia and Singapore.

US News & World Report assessed that economic policy reforms helped Vietnam become a more competitive and modern country.

Vietnam is also becoming more and more integrated when it became a member of the World Trade Organization (WTO) in 2007, the United Nations as well as participating in ASEAN, the Asia-Pacific Economic Cooperation Forum and the major trade agreements.

In addition, on top the list of U.S. rankings News & World Report is Uruguay, then to Saudi Arabia, Costa Rica, Luxembourg, India, Poland, Qatar.

Sources: Chinhphu.vn / cafebiz

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Author: adminquantri

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