Highlights of 2018 provincial competitiveness index report

The Viet Nam Chamber of Commerce and Industry (VCCI) and the US Agency for International Development (USAID) have jointly released the latest Provincial Competitiveness Index (PCI) Report which measures improvements of local-level business environment in 2018.

Highlights of 2018 provincial competitiveness index report

Respondents include 10,111 newly established companies

The PCI Reportis 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.

More than 20,290 businesses, including 8,681 non-state enterprises, 10,111 newly established enterprises, and 1,500 foreign direct investment companies, joined the survey.

Final outcomes show that the Mekong Delta localities remained the best performer over the past recent years.

Quang Ninh continued to maintain its top position for the second consecutive year, with the overall score of 70.36 points thanks to its introduction of administration reform initiatives.

The second place fell to the Southern province of Dong Thap with 70.19 points, followed by Long An (68.09 points) and Ben Tre (67.67) in the Mekong Delta and the central city of Da Nang (67.65 points).

The Report indicates "petit" corruption paid by enterprises to get licenses dipped to five-year low of 55% in 2018 from 65% in 2017.

Meanwhile, reform of administrative procedures has greatly improved in 2018 as 74.7% of respondents said public employees performed duties effectively and 74.1% said paper work has been simplified compared to 51.2% in 2015.

However, post-business registration procedures emerged as new problem as respondents said they had to wait for more than one month to have enough necessary papers for official business operation.

In addition, 34% respondents said they encountered difficulties when applying for certificates for conditional business lines.

(Source: VGP)