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Mechanism of State Regulation of Regional Economy Competitiveness

In: Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 1

Author

Listed:
  • Huy Quang Phan

    (Volgograd State University
    The University of Danang)

  • Marina Eduardovna Buyanova

    (Volgograd State University)

Abstract

Globalization has fostered many development opportunities to developing countries, including Vietnam. One of those possibilities is that countries will be able to cultivate their competitive edge in international economic relations if they show initiative, flexibility, and creativity in integration. This implies that regional policy has also significantly evolved, with competitive capacity emerging as a more significant objective, prompted by concerns that regional policy is facing challenges with the gap in implementation. Therefore, the objective of this chapter is to develop a state regulation of the regional economic competitiveness in Vietnam, taking into account the effectiveness of policies. By synthesizing the scientific literature on competitiveness, regional policy, and statistics, the results indicated three main problems that hinder economic development and an increase in regional competitiveness capacity. Firstly, the apparent spatial disparity in Vietnam’s regional competitiveness could be the result of long-term socio-economic processes (such as economic growth and investment attraction), and the quality of the business environment depends on the operating capacity of the authorities (via PCI Rank Up). Secondly, the mechanism of innovation and scientific development is incomplete. Finally, there are some potential “weaknesses” of industrial clustering.

Suggested Citation

  • Huy Quang Phan & Marina Eduardovna Buyanova, 2023. "Mechanism of State Regulation of Regional Economy Competitiveness," Springer Books, in: An Thinh Nguyen & Thu Thuy Pham & Joon Song & Yen-Ling Lin & Manh Cuong Dong (ed.), Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 1, pages 157-174, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-9669-6_9
    DOI: 10.1007/978-981-19-9669-6_9
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