Specifically, the research finds that countries that have diversified their production into more complex sectors, like Vietnam and China, are those who will experience the fastest growth in the coming decade.

A corner of Ho Chi Minh City - Vietnam's largest city.

It predicts that when the effects of the Covid-19 pandemic dissipate, long-term growth will take off between Asia, Eastern Europe and East Africa.

The Growth Lab researchers also released new country rankings of the Economic Complexity Index (ECI), which captures the diversity and sophistication of the productive capabilities embedded in the exports of each country.

Despite the trade disruption of the pandemic, countries’ economic complexity rankings remain remarkably stable. The ECI ranking finds the most complex countries in the world held steady with, in order, Japan, Switzerland, Germany, the Republic of Korea, and Singapore at the top.

The developing economies that have made the greatest strides in improving their complexity include Vietnam (51st), Cambodia (72nd), Laos (89th) and Ethiopia (97th).

Several Asian economies already hold the necessary economic complexity to drive the fastest growth over the coming decade, led by China, Cambodia, Vietnam, Indonesia, Malaysia and India. In East Africa, several economies are expected to experience rapid growth, though driven more by population growth than gains in economic complexity, which include Uganda, Tanzania and Mozambique.

On a per capita basis, Eastern Europe holds strong growth potential for its continued advances in economic complexity, with Georgia, Lithuania, Belarus, Armenia, Latvia, Bosnia, Romania and Albania all ranking in the projected top 15 economies on a per capita basis.

85% of businesses expect better situation in Q3

Up to 85% of enterprises in the manufacturing and construction sectors expected better and stable business situation in the third quarter of this year, while only 15% predicted that the situation may be tougher, according to a survey conducted by the General Statistics Office (GSO).

Digital transformation key to helping businesses catch up with market opportunities

Digital transformation is considered the key to helping businesses overcome the current difficult period, seize market opportunities and recover strongly, heard a seminar held in Ho Chi Minh City on July 14.

National Employment Fund helps young people in Bac Giang start business

(BGO) – There are more and more youth-owned agricultural production and services models and projects, actively contributing to the socio-economic development of localities in Bac Giang province. Local young people have been supported with preferential loans from the National Employment Fund to start a business.

Overseas Vietnamese businesses in Thailand seek investment opportunities in Bac Giang

(BGO)- The provincial People’s Committee of Bac Giang province on July 10 received the delegation of overseas Vietnamese entrepreneurs in Thailand seeking investment opportunities in the province. The delegation was headed by Phan Chi Thanh, Vietnam’s ambassador to Thailand. 

"Entrepreneur Cafe" programme: Focusing on removing difficulties for businesses

(BGO) - On July 8, at Dai Hoang Son OPERA Co., Ltd (Bac Giang city), the Business Association and the Real Estate Association of Bac Giang province jointly organized the "Entrepreneur Cafe" programme in the second quarter of 2022. This year, the programme is expanded and broadcast live on YouTube and Facebook channels as well as portals of some departments and agencies.

Source: NDO/VNA