Democratic Voice of Vietnam

Vietnam’s economic freedom score is 50.8, making its economy the 147th freest in the 2014 Index. Its score is 0.2 point worse than last year, reflecting declines in freedom from corruption, monetary freedom, and business freedom that outweigh improvements in labor freedom and fiscal freedom. Vietnam is ranked 33rd out of 42 countries in the Asia–Pacific region, and its overall score is lower than the world and regional averages.

Over the 20-year history of the Index, Vietnam has advanced its economic freedom score by about 9 points. Improvements in seven of the 10 economic freedoms include gains in trade freedom, business freedom, and freedom from corruption, scores for which have advanced by 10 points or more. Reforms have included partial privatization of state-owned enterprises and increasing recognition of private property rights.

Vietnam has fluctuated within the lower ranks of the “mostly unfree” economies for two decades, constrained by key institutional shortcomings. Although measurable progress has been made in enhancing the rule of law, the weak judiciary continues to be vulnerable to political influence, and corruption remains widespread. The overall regulatory environment, despite ongoing reform efforts, is not particularly efficient or transparent. Investment is hindered by opaque bureaucracy and an unreliable legal system.

Read more: http://www.heritage.org/index/ranking