With an overall score of 58.3 points, Vietnam ranked 73rd out of 167 economies, according to the Prosperity Index 2020 published Monday by London-based think tank Legatum Institute.

The index ranked countries and territories based on various socio-economic categories including safety and security, governance, investment environment, economic quality, living conditions, health, education and natural environment.

In Asia-Pacific, Vietnam stood above the Philippines, India, Laos, Cambodia, and Myanmar. Vietnam performs most strongly in social capital and health. The country also did well in terms of economic quality along with market access and infrastructure.

Denmark proved the most prosperous country in the world, followed by Norway and Switzerland. The US and China, the world's two most powerful economies, ranked 17th and 54th.