The spectacular breakthrough of Vinh Phuc Provincial Competitiveness Index (PCI) - Ranked the 5th nationwide

05/05/2022

On the morning of April 27, 2022, in Hanoi, the Vietnam Chamber of Commerce and Industry (VCCI) held a ceremony to announce the Provincial Competitiveness Index (PCI) 2021 based on a survey from 11,312 enterprises across the country, including more than 10,120 private enterprises and 1,185 foreign-invested enterprises.

Attending the ceremony, on the side of provincial leaders, there were Mr. Le Duy Thanh, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee; leaders of a number of departments, divisions and branches of the province.

 

 

Chairman of the Provincial People's Committee, Le Duy Thanh attended the ceremony 

 

Speaking at the opening ceremony, VCCI Chairman Pham Tan Cong emphasized that “PCI 2021 is the 17th consecutive announcements since 2005. The past 17 years have been 17 years of perseverance, efforts, 17 years of objective and honest assessments, and 17 years of action to improve the business environment at the provincial level.”  The PCI survey in 2021 shows that, in the context of unprecedented difficulties due to the COVID-19 epidemic, the quality of provincial economic management in Vietnam continues to maintain an improved trend over time, according to the evaluation of the domestic private enterprises. Administrative reform has made positive changes, with increased efficiency and effectiveness at local levels. Anti-corruption efforts have shown effectiveness in reducing the informal cost burden on businesses. However, provincial governments need to step up the settlement of administrative procedures in the online environment, focusing on reforms in the fields of tax, land, social insurance, environment, construction, fire prevention and market management. Conditional business licensing procedures should be the focus of reform in the coming time, when the burden of compliance costs on businesses remains large. At the same time, it is necessary to more effectively implement programs to support small and medium-sized enterprises as well as programs to support enterprises' international economic integration in the near future.  

The PCI Rankings 2021 marks a strong impression of Quang Ninh province with the top position for the 5th year in a row. This is also the only locality ranked in the "Very Good" group thanks to the excellent quality of economic management, the positive improvement of the market entry index, the reduction of unofficial costs as well as the timely removal of difficulties, accompanying with businesses.

 

 

Chairman of the Provincial People's Committee Le Duy Thanh received the Medal and Certificate 

 

Compared to 2020, Vinh Phuc's PCI rating in 2021 represents a spectacular breakthrough from the 29th position to an impressive 5th position thanks to its efforts in attracting investment, reforming administrative procedures, and focusing on the timely implementation of solutions to solve problems for businesses. In which, a number of provincial component indexes achieved high rankings, such as time cost (8.46); Informal expenses (8.05); Legal institutions, security and order (7.78); Access to land (7.56)...

 

 

10 provinces and cities having excellent economic management quality in the top 10 in Vietnam received Medals and Certificates

 

 

 

Other provinces and cities in the top 10 are Binh Duong, Bac Ninh, Thua Thien - Hue; Ba Ria - Vung Tau, and Hanoi. These are the localities that are positively evaluated by the business community in the index of cutting administrative procedures, reducing the burden of complying with conditional business licensing procedures, and solving difficulties for businesses. 

 

At the ceremony, VCCI honored and awarded medals and certificates to provinces and cities with excellent economic management quality in the top 10 in Vietnam. 

Duc Hien

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