The Vietnam Provincial Competitiveness Index 2014 (PCI 2014) ranking was announced on April 16 by the Vietnam Chamber of Commerce and Industry (VCCI) and US Agency for International Development (USAID) from their annual report.
This is the second consecutive year central Danang City has led provinces and cities nationwide in the PCI ranking.
It’s worth noting that Ho Chi Minh City jumped to the fourth place after Dong Thap and Lao Cai.
Top ten provinces with the best quality of management in 2014 also covered Quang Ninh, Vinh Phuc, Long An, Thai Nguyen, Kien Giang, and Bac Ninh. Dien Dien was at the bottom of the ranking.
Vietnam Chamber of Commerce and Industry (VCCI) President Vu Tien Loc said 46.1% of surveyed businesses plan to expand their production scale in the next two years, higher than the 2013 level of 32.5%. The figure in the foreign-direct investment (FDI) sector stands at 50%.
This is the first time in the past five years the business confidence index (BCI) has showed positive signs of recovery, Loc added.
US Ambassador to Vietnam Ted Osius said the encouraging 2014 PCI results signified the business community and foreign investors’ optimism about business and investment prospects and their positive views on the Trans-Pacific Partnership (TPP) potential for investment promotion and growth.
According to the report, drastic changes were seen in the quality of economic management of Vietnam provinces and cities.
However the Vietnam business environment remained less attractive due to unofficial costs, rigid regulations, and the poor quality of infrastructure and public administration services.
Source: VOV news