Part 9/11:
Corruption represents one of the most formidable challenges hindering Vietnam's economic growth. Ranked 83rd out of 180 on the Corruption Perception Index, Vietnam lags significantly behind its Asian neighbors, which discourages foreign investment and complicates business operations. Inflated costs and bureaucratic inefficiencies deter many global investors from considering Vietnam a stable environment for their investments.
In a bid to combat these challenges, the Vietnamese government launched the Blazing Furnace anti-corruption campaign in 2016, targeting hundreds of officials engaged in corrupt practices. The campaign mirrors similar efforts in China but must address the deeply rooted corruption that still plagues various sectors, including infrastructure and banking.