Thai Nguyen’s PCI ranks top of the Northern mountainous region

The Vietnam Chamber of Commerce and Industry (VCCI) and the US Agency for International Development (USAID) jointly organized a ceremony in Hanoi on April 15th to announce the Provincial Competitiveness Index 2020.

Attending the ceremony were Dr Vu Tien Loc, VCCI Chairman; Mr Brad Bessire, USAID/Vietnam Mission Director; Mr Daniel J.Kritenbrink, U.S. Ambassador to Vietnam. On the side of Thai Nguyen province, Mr Le Quang Tien, Vice Chairman of Thai Nguyen Provincial People’s Committee, the leaders of Thai Nguyen Provincial Business Association and Departments, Branches attended the ceremony. 

Thai Nguyen ranked 11 out of 63 provinces and cities across the country and leaded the Northern mountainous region’s rankings.

The 2020 PCI report surveyed approximately 12,300 enterprises operating nationwide, including nearly 10,700 private enterprises based in 63 provinces and cities along with nearly 1,600 foreign-invested enterprises across 22 localities throughout the country. The PCI top four includes Quang Ninh, Dong Thap, Long An, and Binh Duong. 

 Panoramic Photo

Thai Nguyen ranked 11 out of 63 provinces and cities across the country with 66.56 points and leaded the Northern mountainous region’s rankings. Some subindices have a remarkable improvement compared to 2019, such as: the entry costs increased by 0.99 points; the land access and tenure increased by 0.61 points; the proactivity increased by 0.84 points; the time costs increased by 1.07 points. 

The 2020 PCI report showed the governance improvement over time. In particular, the informal charges continued to decrease, the security and order have been maintained, the provincial governments are more dynamic and pioneering, the administrative reform has been improved significantly and the business environment is increasingly fair.  

However, the report also showed that the provincial government needs to drastically improve the transparency of the business environment, improve the administration performance of the local government system, continue to reform administrative procedures and reduce the burden of business inspection and examination, take efforts to cut the informal charges.