Quang Ninh maintains top position in 2018 PCI ranking

The northern province of Quang Ninh

This is the second consecutive year Quang Ninh has obtained the position. It is followed by the southern province of Dong Thap with 70.19 points and the Mekong Delta province of Long An with 68.09 points.

Enterprises questioned in 2018 PCI-related surveys saw optimistic prospects for their businesses, said Chairman of the Viet Nam Chamber of Commerce and Industry (VCCI) Vu Tien Loc, adding that 49% of the surveyed private firms and 56% of the FDI enterprises planned to expand their operations over the next two years.

The survey results indicates the number of businesses facing difficulties is on the rise, especially among small and medium-sized ones, Loc said.

In addition, the local business climate in 2018 improved considerably against 2017, with reduced unofficial costs and business conditions and better administrative reforms.

Of note, the PCI 2018 report reviews local private firms’ capability in accessing the global value chain, indicating that they confront a number of difficulties and barriers in participating.

According to the PCI survey, 2018 saw more positive improvements in business environment than the previous year, with informal charges reducing, a more equitable business climate for private firms, and better administrative reform.

The enterprises were upbeat about their business prospects in the coming time. As many as 49% of the private firms and 56% of the FDI businesses said that they would expand operations in the next two years.

Businesses expect that local authorities will work more to increase the transparency of the business climate, improve human resources training, better business support services, and facilitate conditions in land, tax and social insurance procedures, market management, transport and construction, among others, it said.

Introduced in 2005, the Provincial Competitiveness Index on Viet Nam's business environment conducts an annual business survey, assessment and ranking of the economic governance quality of provincial authorities in creating a favorable business environment for development of the private sector.

The 2018 PCI Report, initiated by the VCCI and the US Agency for International Development (USAID), is the 14th edition./.

 By Vien Nhu