This is the third consecutive year the Southeast Asian economy has suffered a decline in the global competitiveness index, from 59th in 2010-2011 to 75th in 2012-2013, according to the World Economic Forum report, released on September 5.
The report said in terms of macroeconomic environment, the country plunged 41 places to 106th this year, due to its high rate of inflation in 2011, the worse sovereign debt rating, and difficult access to credit.
Infrastructure (95th) also remained a major challenge for the country despite some improvements in recent years, with particular concerns about the quality of roads (120th) and ports (113th), the report said.
The report considered the nation’s public health and primary education (64th) efficient labor market (51st), its large market size (32nd), as its most competitive strengths.
The WEF also estimated Vietnam’s per capita GDP at US$1,374 and its GDP based on Purchasing Power Parity (PPP) share of world total at 0.38 percent.
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