Viet Nam was placed at the 70th position out of 190 economies in ease of doing business ranking.
The World Bank (WB) recently published a report on 2020 Ease of Doing Business ranking. Out of the 190 economies, Viet Nam scored 69.8 points out of 100, higher than last year. However, the country continued to move down one notch from the 69th to 70th.
In the report, the international lender marked and ranked economies in ten areas including starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency, employing workers, and contracting with the government. The employing workers and contracting with the government indicator sets are not included in this year’s ranking on the ease of doing business.
Viet Nam was assessed with significant improvements in getting credit and paying taxes, resulting in increases of 5 and 6.1 points against last year’s results, while other areas witnessed minor improvements or remained unchanged compared to last year.
Notably, the country’s score in resolving insolvency declined by 0.1 points against 2019’s ranking.
The ranking of other Southeast Asian countries are Malaysia (12th), Thailand (21st), Indonesia (73rd), the Philippines (95th), Brunei (66th), Cambodia (144th) and Laos (154th).
Doing Business 2020 is the 17th in a series of annual studies investigating the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies— from Afghanistan to Zimbabwe—and over time.