Da Nang remains first in PCI ranking

Central Da Nang City has topped the 2009 Provincial Competitiveness Index (PCI) for the second consecutive year.

It was followed by Binh Duong, Lao Cai, Dong Thap, Vinh Long and Vinh Phuc provinces, reported the Vietnam Chamber of Commerce and Industry (VCCI) in Hanoi on Jan. 14.

According to the VCCI report, Dien Bien, Ca Mau and Long An provinces were the best performers in economic management area.

The report also acknowledged a lot of progress in the country’s administrative reforms, particularly the shorter time for enforcement of with the State’s regulations and reduction of business registration procedures.

It, however, pointed to several worrying challenges, including drops in sub-indexes on transparency, informal charges as well as dynamism and competence of provincial leaders.

Suggested solutions for local authorities to increase transparency include publicizing information on budget revenues and expenditures, socio-economic development, land use planning, and infrastructure development plans to facilitate investors.

According to VCCI’s Chairman Vu Tien Loc, the independent and objective report aims to help local authorities recognize their advantages and disadvantages and help the central government create a more competitive business environment in the country.

The release of the PCI report helps improve economic management in Vietnam, said the US Ambassador to Vietnam Michael Michalak.

2009 is the fifth consecutive year that VCCI and the US Agency for International Development (USAID)-funded Vietnam Competitiveness Initiative have worked together to build and release the PCI to measure provincial economic management and the business environment for developing the private sector. The figures were compiled from information provided by nearly 10,000 private enterprises.

Source: Vietnam News Agency

Other news