The Global Competitiveness Index (GCI) 2019, issued on October 9 by the World Economic Forum (WEF), revealed that Vietnam jumped 10 places from last year to 67, making it the most improved country of 2019. The GCI mapped the competitiveness landscape of 141 economies through 103 indicators organized into 12 main drivers of productivity, or "pillars", assessing aspects such as institutions, infrastructure, macroeconomic stability, and product market. USAID provided technical assistance to Vietnam to improve the effectiveness of public sector institutions under the Governance for Inclusive Growth (GIG) program. As a result of USAID support, Vietnam jumped from 96 to 79 in the Burden of Government Regulation index and from 88 to 76 in the Efficiency of Legal Framework in Settling Disputes index. In addition, with regards to energy efficiency, USAID supports the Ministry of Industry and Trade to strengthen its regulation system by developing new standards for intensive energy consumption industries like cement, textile, and sugar production. This support contributed to Vietnam’s 26th ranking in the energy efficiency regulation indicator. After the release of the report, Vice Minister of Justice Dang Hoang Oanh contacted USAID to convey the Vietnamese Government’s appreciation for USAID support.

So What? With USAID support, the Government of Vietnam successfully reformed its legal and regulatory framework which helped increase Vietnam’s ranking on the WEF’s Global Competitiveness Report and will lead to stronger economic growth.