Quang Ninh ranks first in provincial competitiveness index for 7th straight year

Vietnam's northeastern province of Quang Ninh maintained its top position in the Provincial Competitiveness Index (PCI) for the seventh consecutive year and the Provincial Green Index (PGI) 2023 in its debut.

The indexes were announced by the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with the U.S. Agency for International Development (USAID) in Hanoi on Thursday.

Quang Ninh scored 71.25 points in the PCI thanks to its incentives to attract investment and improve administrative procedures, according to the ranking, based on responses from 9,100 private Vietnamese firms and nearly 1,600 FDI enterprises.

Most notably, the province has made tremendous efforts in terms of minimizing the administrative burden for businesses with the time cost sub-index reaching 8.54 points, the highest in the country.

Furthermore, it has continued to effectively implement business support programs, ranking second nationwide with 7.72 points; while exerting efforts to reduce the burden of unofficial costs for enterprises, coming in third with 7.72 points.

Regarding the PGI 2023, Quang Ninh had the highest total score of all four sub-indexes, at 26 points.

According to the report, investors and businesses appreciated the province’s efforts to maintain reforms. Business support has seen positive changes, with falling unofficial costs, more convenient market entry procedures, and streamlined administrative procedures.

Besides, Quang Ninh has also made a breakthrough in the development of strategic infrastructure while taking steps to develop high-quality human resources and skilled workers, it said.

At the same time, it has focused on creating an open and transparent business and investment environment, with fair competition and equality in access to resources, especially in terms of land and labor, among businesses, investors, and economic sectors, according to the report.

Persisting with the orientation to transition from a "brown" economy (based on mineral exploitation) to "green", focusing on sustainable development in terms of the socio-economy, environment and security, and promoting green transition based on the three pillars of nature, people and culture, Quang Ninh has implemented solutions towards harmonious, sustainable, inclusive development, with people at the center as the main player, motivation, resource, and goal of development.

Thanks to that, in 2023, despite facing many difficulties and challenges, Quang Ninh achieved a GRDP growth of over 11%, with economic size ranking third in the northern region and income per capita reaching over $9,500, the highest in the region. It lured $5.1 billion in total investment last year, of which $3.1 billion came from overseas.

In the first quarter of 2024, Quang Ninh maintained its GRDP growth momentum, reaching 8.79%.

Speaking at the PCI and PGI 2023 announcement ceremony, chairman of the provincial People’s Committee Cao Tuong Huy said Quang Ninh is always willing to welcome and commit to creating all possible favorable conditions for investors and businesses.

“The province will try its best to promote production and business, and improve competitiveness in the value chain, bringing trust, satisfaction, and opportunities for success to investors and businesses from all economic sectors,” he promised.

The PCI & PGI Report is a collaborative research product conducted annually by VCCI with assistance from the United States Agency for International Development (USAID) and private sector partners to promote an enabling and environmentally friendly business climate in Vietnam.

The PCI is designed to assess the ease of doing business, the quality of economic governance, and the effectiveness of administrative reform efforts in the 63 provinces and cities in the country. Like its cousin, the PGI aggregates the perception of businesses into a common voice to communicate their views on environmental policy to national and local decision-makers.