(Photo: yenbai.gov.vn)

Binh Duong province ranked 4^th and Da Nang city 5^th. Vinh Long province, which was third in 2019, placed 6^th last year. Ben Tre province, Hanoi city, and Bac Ninh province were also in the top 10.   

At the announcement ceremony on Thursday in Hanoi, Chairman of the Vietnam Chamber of Commerce and Industry, Vu Tien Loc said, “Hardly do we see any research project that can fuel Vietnam’s reforms as the PCI does. Since 2014, the PCI has been a compulsory measurement for every locality, by Government resolution. The PCI is a reference local authorities use to improve their investment environment and institutions.”

The PCI 2020 showed improvement in provincial economic governance year by year. The gap between the top province and the last has narrowed. In 2020, VCCI launched a separate measurement for small and medium-sized enterprises.

Former US Ambassador to Vietnam Ted Osius said, “The PCI has promoted the role of the private sector and encouraged local authorities to improve their business climate. We have noticed the significant similarities of localities who take the lead in improving their business climate regardless of their geographical and economic conditions. First, their authorities give competitiveness a priority, thus mobilizing all possible resources to improve it. Second, they have close ties with the local business communities.”    

The PCI analyzes how the business environment has changed in the past five years. It also defines Vietnam’s advantages from the investors’ perspective and reflects the reform aspirations of businesses in the next five years.

The PCI report is jointly published by the Vietnam Chamber of Commerce and Industry (VCCI) and the United States Agency for International Development. PCI 2020, the 16^th edition, is based on feedback from 12,300 businesses, of which 10,700 are privately owned and 1,600 receive foreign direct investment.