Da Nang at night (Source: VNA) Hanoi (VNA) – The Vietnam Chamber ofCommerce and Industry (VCCI) and the US Agency for International Development(USAID) on March 14 announced the Provincial Competitive Index (PCI) 2016, whichsees central Da Nang city continuing topping for the seventh time and the fourthconsecutive year.
The annual report, the 12th of is kind sofar, gathers feedback and assessments the community on the businessenvironment, economic management quality and administrative reform efforts of themunicipal and provincial governments across Vietnam.
According to VCCI President Dr. Vu Tien Loc said thatPCI collects opinions of private firms, with an aim to promote their growth,especially micro, small and medium-sized enterprises, while creating jobs for people.
US Ambassador to Vietnam Ted Osius commented that PCIreport is important to investors and businesses interested in Vietnam.
The collection and analysis of data for the report showthat competition helps improve operation effectiveness, he said, adding it willalso promote trade affiliation as well as economic growth and prosperity.
According to the report, the northern province ofQuang Ninh came second with 65.6 points, followed by Mekong Delta Dong Thapprovince with 64.96 points, southern Binh Duong province with 63.57 points,Vinh Long, 62.76 points and Lao Cai, 63.49 points.
Notably, Hanoi managed for the first time in manyyears to exceed the 60 point level and ranked 14th.
Dau Anh Tuan, head of the Legal Department of theVCCI, commented that the quality of governance of cities and provinces has beenimproving.
Compared to 2015, bright signs have been seen invarious aspects, including dynamism and pioneering of the provincialadministrations, informal cost, labor-force training, equal competition and businessregistration.
However, administrative procedure burden and landaccess have yet to be solved while legal environment is yet safe, posingobstacles for many domestic businesses, he said.
The PCI report 2016 has also reflected the risingtrend of household businesses, as 65 percent of the firms enjoyed profit, thehighest figure in the recent five years.
The capital scale of a firm averaged a record high of 18.1billion VND in 12 years, doubling that in 2006, while the ratio of firmsrecruiting more employees also rose to 13 percent in 2016 from 12 percent inthe previous year.
The business community also showed their optimism forbusiness prospect as 48 percent of them revealed that they will expandoperation in the next two years. -VNA
VNA
