Through the application of Information Technology (IT), combined with high economic growth rate and friendliness with foreign trade, Vietnam has been praised for its global connection ability.
Inside a laboratory of a Vietnamese mobile network operator opened in 2017. Photo: Hai Dang
In the latest DHL report, Vietnam was praised by international experts for its application of information technology and stable policy, as well as maximum support for trade and business.
DHL and the NYU Stern School of Business have released the 2021 update of the DHL Global Connectedness Index (CGI). This report, in its 10th year, offers a fresh look at the impact of the Covid-19 pandemic on globalization by analyzing international flows of trade, capital, information and people.
In 2020, Vietnam ranked 38th out of 139 countries in the DHL Global Connectedness Index. The report also cited data from a third party, saying Vietnam ranked first in supporting trade and business out of 48 countries assessed.
In the report titled âThe 10-Year Lessons of the DHL Global Connectivity Index,â researchers chose Vietnam as well as the Netherlands, United Arab Emirates (UAE), Sierra Leone and Mexico as examples of their outstanding performance over the past two decades.
The analysis highlighted the factors that helped Vietnam rank highly in the DHL Global Connectedness Index. Vietnam is one of the countries that have exceeded expectations in terms of economic development and friendliness with foreign markets.
In 1985, Vietnam’s GDP per capita was only about US $ 500, among the poorest countries in the world. Thanks to its open-door policy, Vietnam is now in the lower middle income bracket, with a GDP per capita of $ 2,715.
Vietnam ranked 58th according to the Global Peace Index 2019. This factor helped Vietnam increase its CGI score.
The domestic business environment in Vietnam has improved impressively. Vietnam ranked 67 out of 138 on this in the DHL Global Competitiveness Index, and as the country with the most improvement. In particular, the most obvious improvement was in IT and the financial system.
Vietnam has also issued policies to promote international flows, particularly focusing on trade in goods, which has helped push Vietnam to the 5th position in terms of trade. This is thanks to Vietnam’s signing and active participation in regional and global trade organizations.
Although Vietnam ranks high in trade criteria, Vietnam scores lower in other areas.
For example, with the exception of 24 visa-exempt countries, Vietnam requires citizens of the remaining countries to obtain a visa on entry. Vietnamese citizens must also have a visa to travel to most foreign countries (only 54 countries exempt visas for Vietnamese visitors).
In addition, Vietnam is a member of the Association of Southeast Asian Nations (ASEAN), but only 12% of its trade, capital, information and people flows are linked to the countries of the ASEAN, making it the least regional country in the bloc, compared to Thailand with 28%, Cambodia 35% and Laos 61%.
However, Vietnam is a global bright spot in terms of supporting trade and trade relations. In the Pew survey, 95% of those polled praised the country in this regard, the highest level among any country polled since 2014.
At the same time, 88% of Vietnamese respondents to Pew’s survey said life is better today than 50 years ago. That’s higher than any of the 37 countries surveyed, and more than double the global average.
Vietnam ranks 44th in the 2021 Global Innovation Index
Vietnam ranked 44th out of 132 countries and economies in the 2021 Global Innovation Index (GII 2021) which was announced by the United Nations World Intellectual Property Organization (WIPO) on September 20.