The report was co-published by the World Economic Forum and the Global Alliance for Trade Facilitation in order to provide over view of the trading environment in 136 countries around the world. In 2016, Singapore is the top best performer of the index, followed by the Netherlands and Hong Kong (China).
According to the report, the better ranking of Vietnam in 2016 is mostly attributable to improvements in border administration, with improved customs efficiency and reduced times for documentary and border compliance for both importing and exporting. These changes reflect the government’s efforts to optimise border procedures and reduce the burden of inspections by multiple agencies. Vietnam has boosted access to its domestic this year, the report added.
Thanks to a lower average tariff, Vietnam’s possibility to enter foreign markets has also improved. The report said that stronger protection of property rights and increased efficiency of public institutions has contributed significantly to the enhancement of Vietnam operating environment. Meanwhile, infrastructure performance has been uneven, with improvements in transport infrastructure and a deterioration of services.
The reported also noted that Vietnam still have to put more effort into meeting international standards.
The Global Enabling Trade Report was first published in 2008, initially on an annual basis, and biennially since 2010. The assessment has been based on the Enabling Trade Index, which assesses 136 economies across the globe and their capacity in terms of market access, border administration, transport and communication infrastructure and business environment to facilitate the free flow of goods.