Vietnam jumps 10 positions on the global competitiveness index

Vietnam rose ten places on the 2019 global competitiveness index to rank 67th of 141 economies, according to a report released by the World Economic Forum on Wednesday.

The World Economic Forum defines competitiveness in terms of institutions, policies, and factors that determine a country's level of productivity.

The report acknowledged great progress by several economies, including Vietnam, despite global political and trade tensions that have destabilized the world economy.

According to the WEF, Vietnam is attracting a lot of foreign investment to become a regional trade center.

The report ranks Vietnam 26th in market size and among the lowest countries for terrorism risk and inflation.

Annually published since 1979, the WEF report measures 103 indicators organized into 12 themes. Each indicator, using a scale from 0 to 100, covers broad socio-economic elements including infrastructure, health, the labour market, the financial system, the quality of public organizations, and the openess of the economy.

Source: VOV5