Economic freedom grants individuals and businesses the liberty to engage in economic activities with minimal government control, fostering growth, and innovation.
The Index of Economic Freedom, a collaboration between The Heritage Foundation and The Wall Street Journal, measures this by assessing countries' factors like property rights and government size, assigning scores and rankings.
Singapore leads Southeast Asia and the world in economic freedom, while in descending order, Malaysia to Viet Nam falls in the moderately free category, and Cambodia to Timor-Leste is in the mostly unfree category.
Source: Sukoco, Rafa. “Economic Freedom in Southeast Asia, 2023.” Seasia.co, 18 Aug. 2023, www.instagram.com/p/CwEdvZMyqh_.
