Government agencies must be mindful in a situation where regional countries are accelerating efforts to improve their business environment, but Vietnam is still sluggish.

This would result in total accumulated foreign capital to Hanoi at US$42 billion in 5,300 ongoing projects.

The number of expats in Vietnam rose from 72,172 in 2013 to 88,845 in 2018, the majority of whom are holding key positions, including manager, CEO and technician.

Hanoi maintained its top spot in terms of foreign direct investment (FDI) attraction nationwide for the second consecutive year, recording a 30-year high of US$8.05 billion.

Corruption increases the cost of doing business, distorts the competitive environment, limits opportunities for investment and widens the growing social inequality, according to a UNDP expert.