Vietnam most promoted in EIU's business climate rankings
VOV.VN - The Economist Intelligence Unit (EIU), a research and analysis division of the Economist Group of the UK, recently announced the ranking of the global business environment for the second quarter of the year, which recognizes that Vietnam has the highest ranking among the world’s ranked economies.
The EIU offers many categories on order to evaluate economic management activities over both the previous five years and the next five-year prospects of countries and regions, thereby assessing the quality or attractiveness of the business environment across 82 countries and economies globally.
The nations that improved the most in the EIU's ranking over the past year included Vietnam, Thailand, Belgium, Sweden, India, and Costa Rica.
Of these, Vietnam is considered to have the greatest motivation, increasing 12 places in the ranking, while Thailand rose by 10 places and India grew by six places.
In the 2023 EIU rankings, Singapore retained its position as the world's best place to do business for the 15th consecutive year and will continue to be the best place to conduct business over the next five years.
The EIU gave Singapore a perfect score in policies with foreign investment, foreign exchange control, and foreign trade.
Singapore is also the country that scores highest for tech readiness, a sign of government policies aimed at developing tech infrastructure facilities and a startup ecosystem.
The Singaporean Government is also a pioneer in terms of deploying high-tech solutions in public services.
Canada and Denmark are both tied for second place. In addition, there are four European economies along with the United States, Hong Kong Special Administrative Region (China), and New Zealand in the top 10.
In the top 20 of the list, there are four Asia-Pacific economies, namely Australia, Taiwan (China), and the Republic of Korea (RoK).
Meanwhile, the countries that were most significantly downgraded include China, Bahrain, Chile, and Slovakia. China is the country with the deepest drop globally, falling 11 places from a year earlier.
According to the EIU, although China has moved to considerably relax its COVID-19 prevention policies, regulatory changes and increased costs have put pressure on the business environment and reduced opportunities for international investors.