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Vibrant Vietnam – Forging the Foundation of a High-Income Economy Table of Contents

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Vibrant Vietnam – Forging the Foundation of a High-Income Economy Table of Contents Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized AUSTRALIA-WORLD BANK GROUP STRATEGIC PARTNERSHIP IN VIETNAM Vietnam 2035: From Strategy to Action Vibrant Vietnam Forging the Foundation of a High-Income Economy Main Report Public Disclosure Authorized May 2020 Table of Contents 87 Vibrant Vietnam Forging the Foundation of a High-Income Economy Main Report May 2020 @2020 The World Bank 1818 H Street NW, Washington DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org This work is a product of the staff of The World Bank with external contributions. The findings, interpretations and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank do not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Nothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and immunities of The World Bank, all of which are specifically reserved. All queries on rights and licenses should be addressed to the Publishing and Knowledge Division, The World Bank, 1818 H Street NW, Washington DC 20433, USA; fax: 202-522-2625; email: pubrights@ worldbank.org. Cover photo credit: Impressive beauty, colorful traffic when city lights up, trail vehicle in crowded Quach Thi Trang roundabout, Ho Chi Minh city, Vietnam by Huy Thoai/shutterstock.com. II Vibrant Vietnam – Forging the Foundation of a High-Income Economy Table of Contents Abbreviations ...................................................................................................................................................................................................................................................................................................................................................................... viii Acknowledgments ................................................................................................................................................................................................................................................................................................................................................. ix EXECUTIVE SUMMARY............................................................................................................................................................................................................................................................................................................................. xi Dynamic firms ..................................................................................................................................................................................................................................................................................................................................................................... xiv Efficient infrastructure .................................................................................................................................................................................................................................................................................................................................. xvii Skilled workers and opportunities for all ..................................................................................................................................................................................................................................................... xviii Green economy .............................................................................................................................................................................................................................................................................................................................................................. xx Vibrant Vietnam – Policy Matrix .......................................................................................................................................................................................................................................................................................... xxiii MAIN REPORT .................................................................................................................................................................................................................................................................................................................................................................. 1 Well begun, but half done .......................................................................................................................................................................................................................................................................................................... 2 Imperatives for renewing the growth mode ......................................................................................................................................................................................................... 4 Framing a new growth strategy: Greater accumulation with better use of all forms of capital ............................................................................................................................................................................................................................................................................................................................................................... 9 Four deep dives ................................................................................................................................................................................................................................................................................................................................. 12 Dynamic firms ................................................................................................................................................................................................................................................................................................................................................................ 19 The business landscape in Vietnam .............................................................................................................................................................................................................................................. 19 What prevents dynamic firms from becoming more productive? .............................................................................................................. 23 Recommendations: How to make firms more dynamic ........................................................................................................................................................ 25 Efficient Infrastructure .......................................................................................................................................................................................................................................................................................................................... 35 Why is improving efficiency a priority? .............................................................................................................................................................................................................................. 37 Raising new financial resources .............................................................................................................................................................................................................................................................. 41 Summary of recommendations and next steps ............................................................................................................................................................................................ 45 Skilled workers and opportunities for all ....................................................................................................................................................................................................................................... 50 Skills wanted for the future ................................................................................................................................................................................................................................................................................. 51 Barriers to human capital formation for Ethnic Minorities ................................................................................................................................................ 55 Recommendations .................................................................................................................................................................................................................................................................................................................... 58 Table of Contents III Green economy .........................................................................................................................................................................................................................................................................................................................................................
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