Expectations from positive changes

The government 's relentless efforts, flexible policy management, and contributions from businesses have helped Vietnam achieve many significant accomplishments, recognized by the international community through prestigious rankings.

A significant leap in international rankings.

After more than two years of coping with the negative impacts of the Covid-19 pandemic, businesses continue to face numerous difficulties due to unpredictable global fluctuations, particularly rising costs and declining demand from major partner markets. Domestically, purchasing power is also increasing slowly, and business confidence is trending downwards, making production and business difficult and affecting the economy as a whole. To address this situation, the Government has implemented many flexible and decisive policies and solutions to restore and develop the economy. Thanks to these efforts, macroeconomic stability has been maintained, inflation has been controlled, and major economic balances have been ensured. The main goals and tasks for 2024 have been basically completed, with some results exceeding the set targets, such as labor productivity and economic growth (projected at around 7% for the whole year, a high level compared to the region and the world).

International organizations have highly appreciated the achievements and improved Vietnam's competitiveness ranking in 2024, with significant improvements recorded in key international indicators. According to the United Nations' 2024 e-Government Survey Report, Vietnam's e-Government Development Index ranked 71st out of 193 countries, a 15-place increase from the previous ranking (from 86th in 2022). This result far exceeds the government's target (a 5-place increase by 2025). This achievement is built on a foundation of strong administrative reforms, especially the deployment of online public services, and the promotion of information technology applications in state management and the provision of public services to citizens.

Furthermore, the Heritage Foundation's 2024 Economic Freedom Index ranks Vietnam 59th out of 184 countries globally (and 11th out of 39 countries in the Asia- Pacific region). With a score of 62.8, Vietnam's economic freedom score is currently higher than the world and regional average.

In particular, according to the 2024 Global Innovation Index (GII) report by the World Intellectual Property Organization (WIPO), Vietnam is ranked 44th out of 133 countries and economies, an increase of 2 places compared to 2023. Vietnam continues to improve its ranking in innovation inputs, rising 4 places from 57th to 53rd compared to 2023; and innovation outputs, also rising 4 places from 40th to 36th compared to 2023. WIPO recognizes Vietnam as one of the 8 middle-income countries with the most significant improvement in ranking since 2013; and also one of the three countries holding the record for outstanding performance relative to its level of development, with Vietnam consistently achieving higher innovation results than its level of development for 14 consecutive years.

The Heritage Foundation's 2024 Economic Freedom Index assesses Vietnam.

Overcome challenges, keep moving forward.

Vietnam is also a shining example in implementing the Sustainable Development Goals (SDGs). Globally, Vietnam's ranking in SDG implementation has continuously improved between 2016 and 2024, according to the United Nations' SDG index rankings. Specifically, Vietnam rose from 88th out of 149 countries in 2016 to 54th out of 166 countries in 2024. In terms of score, in 2024, Vietnam's Sustainable Development Index reached 73.32 points, higher than the global average and ranking second in Southeast Asia. This demonstrates the government's commitment to achieving the SDG goals, from poverty reduction and improving the quality of education to environmental protection.

Furthermore, regarding the Cybersecurity Index (according to the Global Cybersecurity Index (GCI) ranking of the International Telecommunication Union (ITU), Vietnam is one of 46 countries ranked in Group 1 (or Tier 1, with a score of 95-100, the highest tier in the 5-tier ranking. This tier applies to countries that "set an example," demonstrating a strong commitment across all five pillars of cybersecurity) in 2024.

Despite its achievements, Vietnam still faces several challenges, particularly in the context of a volatile global economy. Notably, in 2024, some of Vietnam's rankings declined. For example, the Tourism Development Capacity Index, assessed by the World Economic Forum (WEF), ranked only 59th, a drop of 3 places compared to the previous ranking year (2021). Similarly, the Property Rights Index (according to the International Property Rights Index IPRI of the Property Rights Alliance) ranked 85th, a drop of 1 place compared to 2023, potentially failing to meet the set target (the government's target for 2025 is for the IPRI index to increase by at least 2 places)... These are issues that require strong reform efforts in the coming period.

Vietnam's significant progress in 2024 is a testament to the efforts of the Government, the business community, the people, and society as a whole. However, forecasts for 2025 indicate that the global economy will continue to face a mix of challenges and opportunities, requiring relentless effort and greater determination to move forward.

In this context, improving the business environment remains a central task to strengthen confidence and create new momentum for businesses. The Resolution on key tasks and solutions to improve the business environment and enhance national competitiveness in 2025 (Resolution 02), to be issued by the Government in the coming days, is expected to set very specific goals, including improving rankings in international indicators, removing bottlenecks in legal institutions, and significantly improving the investment environment. Maintaining and enhancing existing positions will continue to be a crucial task. The achievements will not only demonstrate the unity of the entire economy but also serve as a driving force for Vietnam to reach further, preparing for a new era of growth and becoming a model in Southeast Asia for innovation and sustainable development.

Source: https://thoibaonganhang.vn/ky-vong-tu-nhung-thay-doi-tich-cuc-159385.html