Unleashing strong, digital and green growth in Viet Nam

Patrick Lenain, Ben Westmore, Quoc Huy Vu and Minh Cuong Nguyen

No 1770, OECD Economics Department Working Papers from OECD Publishing

Abstract: Viet Nam has been quick to recover from the downturns caused by the COVID-19 pandemic, but it faces long-term economic challenges. Boosting labour productivity will be crucial to sustained high economic growth. Attracting further foreign investment and reaping the benefit of advanced technologies will require additional improvements to the business environment through simplifying administrative procedures. Levelling the playing field of competition between state-owned enterprises and private enterprises will also help to maintain Viet Nam’s attraction for international investors. The country is already among the leaders of digitalisation in Southeast Asia, with strong adoption of e-commerce, telemedicine and telework. Further investment in digital skills will be key to maintain this momentum. The authorities have committed to net zero carbon emissions by 2050 and are expanding renewable energy generation capacity. A comprehensive decarbonisation plan would facilitate the transition to greener growth.

Keywords: business climate; carbon pricing; climate policy; digital skills; digitalisation; energy transition; foreign investment; net zero; productivity (search for similar items in EconPapers)
JEL-codes: H23 J24 K23 O14 Q43 Q52 Q54 (search for similar items in EconPapers)
Date: 2023-08-07
New Economics Papers: this item is included in nep-ene, nep-env, nep-lma, nep-sea and nep-tra
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