Private Sector Corruption in Vietnam: From Legislation to its Impact on the Economy
- Autores: Nguyen Duy Dung, Nguyen Tat Thanh
- Localización: International Journal of Professional Business Review: Int. J. Prof.Bus. Rev., ISSN 2525-3654, ISSN-e 2525-3654, Vol. 8, Nº. 2, 2023
- Idioma: inglés
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Resumen
Purpose: The objective of this study was to analyze Vietnamese legal legislation regarding corruption in the private sector, identify its current shortcomings, and assess its impact on the Vietnamese economy since its adoption in 2018.
Theoretical framework: There have been many studies to assess corruption in Vietnam in many aspects, including the overview of corruption in Vietnam, the influence of corruption on economic development, and the consequences of corruption. However, there is still much to investigate and learn about the impact of the current provisions on corruption in the private sector on Vietnam’s economy.
Design/methodology/approach: The study uses secondary data from the Provincial Competitiveness Index Report (PCI Vietnam) issued by the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with the United States Agency for International Development (USAID). Besides, the article analyzes Vietnam's Corruption Control Index (CCI), which is assessed annually by the World Bank (WB). At the same time, the authors refer to the data on Vietnam's GDP and make a comparison with the CC index to clarify the article’s objective. The authors also use a qualitative method by analyzing previous studies to assess the corruption in the private sector in Vietnam, the rules of law concerning private corruption, and its impact on the economy.
Findings: Vietnam has had specific legislative achievements in criminalizing private corruption in the 2015 Criminal Law and promulgating anti-corruption provisions in the 2018 Anti-Corruption Law. These regulations had a positive impact on Vietnam's economy. However, corruption in the private sector in Vietnam is quite severe, especially bribery in business.
Research, Practical & Social implications: We suggest future research of in-depth analysis of the causes and effects of specific kinds of corruption acts in the private sector.
Originality/value: The results indicate that the new provisions on corruption in the private sector since it was adopted have positively affected the development of Vietnam's economy and the fight against corruption.
