Informal charges continue to decline in most business-government interactions, according to the 2021 Provincial Competitiveness Index (PCI) released by the Vietnam Chamber of Commerce and Industry (VCCI) last week.
Chief of the VCCI’s Legal Department Dau Anh Tuan. (Photo: VNA)
Hanoi (VNA) - Informal charges continue to decline in most business-government interactions, according to the 2021 Provincial Competitiveness Index (PCI) released by the Vietnam Chamber of Commerce and Industry (VCCI) last week.
Businesses reporting that they had to pay for general informal charges dropped to 41.4 percent in 2021 from 44.9 percent in 2020, making a record low in 16 years of PCI surveys.
It is the most impressive figure, said chief of the VCCI’s Legal Department Dau Anh Tuan, adding that it reflects provinces’ strong efforts to accelerate reforms and create more favourable business environment for enterprises
The size of informal charges has also decreased considerably over time, the report said. The share of firms having to set aside more than 10 percent of their income to pay this cost slid to 4.1 percent, less than half the level recorded in 2016 (9.1 percent).
Between 2015 and 2016, seven out of every 10 firms said they had to pay informal charges, Tuan said, but the number gradually declined over years and stood at 41 percent in 2021.
He attributed the contraction to the anti-corruption operation led by the Party and State and efforts made by central to local administrations to foster public administration reforms.
Vietnam’s business climate will improve further and the informal charge index will continue falling in the future, he said.
The northern province of Quang Ninh once again topped the PCI with the highest score of 70.02 percent.
This is the 5th year in a row Quang Ninh has topped the charts. It is followed by the northern port city of Hai Phong with 70.61 points, and the Mekong Delta province of Dong Thap with 70.53 points.
Other cities and provinces in the top ten competitive localities include Da Nang, Binh Duong, Vinh Phuc, Bac Ninh, Thua Thien - Hue, Ba Ria - Vung Tau, and Hanoi.
Since 2005, the VCCI and the US Agency for International Development (USAID) have teamed up to produce the annual PCI report to measure the quality of economic management, the level of convenience and friendliness of the business environment, and administrative reform efforts made by provincial governments, thus promoting the development of the private sector./.
The northern province of Bac Ninh is applying measures with the aim of rising to the top five localities in the provincial competitiveness index (PCI) rankings, according to Chairwoman of the provincial People’s Committee Nguyen Huong Giang.
Bac Giang has been making all possible efforts to improve its Provincial Competitiveness Index (PCI) this year, according to the northern province’s People’s Committee.
An online seminar on strengthening trade relations through international trade fairs, held by the Vietnam Trade Office in India on June 25, saw the participation of nearly 50 Vietnamese seafood companies and 50 Indian enterprises in sectors of processed food, agricultural products, fruits, and spices.
The vehicles will be deployed for mail and parcel delivery by Hanoi Post, marking another step in the strategic partnership between the two firms since 2021. With this batch, the total number of electric motorbikes Honda has supplied to Vietnam Post has reached 405, operating primarily in key cities such as Hanoi and Ho Chi Minh City.
With participation from major players representing countries such as Russia, China, Japan, India, Thailand, and Indonesia, Vietbuild 2025 is expected to present a wide range of environmentally friendly and innovative products and services, especially building materials, machinery, and interior and exterior decoration.
Bulgaria holds strengths in sectors that align well with Vietnam’s development focus, including information technology, software, electronics, energy and the environment, startups and innovation, agriculture and food processing, logistics, and freight services.
Vietnam Airlines is pursuing an Environmental, Social, and Governance (ESG) roadmap to reduce emissions, improve fuel efficiency, and adopt sustainable aviation fuels. It is also investing in workforce development, corporate culture, and international management practices.
Thailand's largest retailer, Central Retail Corporation (CRC), will invest over 45 billion THB (1.38 billion USD) through 2027 to expand mainstream markets and accelerate growth across Southeast Asia, including Thailand and Vietnam.
Vietnam ranks among Asia’s top producers and exporters of denim, with hundreds of factories producing denim fabric and garments. Vietnamese denim products are now exported to over 70 countries.
In 2024, durian was a leading export among Vietnam’s fruits and vegetables, earning a record of 3.3 billion USD and accounting for 46% of the sector’s total export value. China was the largest market, importing 3.2 billion USD worth of durians, or 97% of the total.
The arrival of this first wind power equipment shipment signalled the Trung Nam Ca Na seaport’s infrastructure readiness and its entry into a new phase of development, aligned with Vietnam’s adjusted National Power Development Plan VIII.
PM Pham Minh Chinh has called on global tech giants to bolster cooperation with Vietnam to assist with the country's efforts to drive a startup and innovation ecosystem.
Prime Minister Pham Minh Chinh had meetings with leaders from multinational corporations on June 25, advancing Vietnam’s infrastructure development as well as food processing sector, on the sideslines of the 16th Annual Meeting of the New Champions of the World Economic Forum (WEF) in Tianjin city.
According to UOB, following the US’s announcement of reciprocal tariffs of 46% on Vietnamese goods on April 2, around 80% of Vietnamese businesses have proactively taken measures to respond to potential impacts.
As one of the most prestigious annual international events in the industry, the expo serves as a prime platform for enterprises to connect, exchange valuable experience, and explore reliable collaboration opportunities with both domestic and international companies.
Organised by the Vietnamese Embassy and Trade Office, Vietnam's national booth showcases catalogues and product samples from over 30 Vietnamese companies, spanning key sectors such as agriculture, seafood, food and beverages, footwear, textiles, furniture, plastics, construction materials, and industrial machinery.
Chief of the VCCI’s Legal Department Dau Anh Tuan. (Photo: VNA)
