JavaScript is off. Please enable to view full site.

Vietnam is world’s 90th freest economy: US think tank

Monday, March 08, 2021, 15:53 GMT+7
Vietnam is world’s 90th freest economy: US think tank
A gold shop employee, wearing a protective face mask, shows a piece of gold at a jewelry shop on God of Wealth Day, which falls on the 10th day of Lunar New Year, as Vietnamese hope buying gold would bring good luck, in Hanoi, Vietnam, February 21, 2021. Photo: Reuters

Vietnam’s economic freedom score has reached 61.7, making its economy the 90th freest in the 2021 Index of Economic Freedom recently announced by the American conservative think tank Heritage Foundation.

The Southeast Asian country ranks 17th among 40 countries in the Asia–Pacific region.

Its overall score is above the regional and world averages and has increased 2.9 points from 2020, primarily because of an improvement in fiscal health, according to the index.

The higher score elevated Vietnam’s economy by 15 places from last year and helped it break into the moderately free category for the first time. 

The Heritage Foundation assessed that Vietnam’s ranking could increase further if the government took additional action to liberalize investment rules and the financial sector.

Singapore again was named the world's freest economy in this year's index, with a score of 89.7, up from 89.4 last year.

New Zealand and Australia make the top three, with overall scores of 83.9 and 82.4, respectively.

Launched in 1995, the Index of Economic Freedom evaluates 184 countries in four broad policy areas that affect economic freedom, namely rule of law, government size, regulatory efficiency, and open markets.

There are 12 specific categories, including property rights, judicial effectiveness, government integrity, tax burden, government spending, fiscal health, business freedom, labor freedom, monetary freedom, trade freedom, investment freedom, and financial freedom. 

Scores in these categories are averaged to create an overall economic freedom score.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Tuoi Tre News


Read more




Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Latest news