International Economics conducted a Program Impact Assessment (PIA) of the first subprogram of the Accelerating Competitiveness and Trade program in Viet Nam.
The project was funded by the Asian Development Bank, which formulated a programmatic policy-based loan to support reforms aimed at strengthening competitiveness, improving the business environment, and expanding trade in Viet Nam.
After more than three decades of international economic integration, Viet Nam has become one of the world’s 15 largest exporters and among ASEAN’s top three recipients of FDI inflows. However, early trade policies focused primarily on expanding trade and investment volumes, resulting in unsustainable growth patterns, strong dependence on a limited number of markets and products, and increasing environmental and social pressures.
In this context, the Accelerating Competitiveness and Trade Program aims to support Viet Nam in strengthening the investment climate and promote sustainable private sector development. International Economics conducted a PIA of the first subprogram, which will strengthen the Government of Viet Nam’s efforts to build a more competitive, investment-friendly business environment, driving higher enterprise formation and private investment.
The first subprogram is expected to have 10-12 high-impact and mutually reinforcing policy actions over the period June 2024 to May 2026 aligned to the three reform areas: (i) building an inclusive environment for enterprise formalization; (ii) strengthening investment climate and innovation for enterprise growth; and (iii) accelerating trade facilitation and digital integration for global competitiveness.
Our Team developed an analytical framework, collecting and analysing economic and policy data, and assessing the expected impacts, benefits, and costs of the proposed reforms. The study evaluates the development challenges addressed by the program and the transmission channels through which policy changes generate economic impacts, providing evidence to support ADB’s program design and policy dialogue.
Applying our analysis and research knowledge, we help our clients maximise efficiency and improve their development objectives. Through the lessons learnt and the feedback mechanisms we implement in our monitoring, evaluation, and learning (MEL) processes, we support institutional strengthening and the re-alignment of resources to ensure the sustainability and maximum impact of projects, helping our clients make well-informed strategic decisions.
