Creating Markets in Vietnam: Country Private Sector Diagnostic

Year published
2021
Theme
ESG
Author
IFC
Category
Report

Nevertheless, a productive private sector remains integral to Vietnam’s recovery and ambition of becoming a high-income country by 2045. Boosting productivity-led growth requires exploiting the full potential of the private sector by reducing constraints on entry, increasing the competitiveness of firms, upgrading in global value chains, diversifying into new markets, and deepening digitalization across sectors. This CPSD diagnoses what can be done now to get Vietnam back on track, strengthening private sector development and attracting investments through an innovation-driven and inclusive growth model. It argues that the COVID-19 crisis can serve as a catalyst for tackling incomplete structural reforms and an opportunity to upgrade the country’s human capital, green its infrastructure, and deepen innovation in financial services and capital markets.