Announcing the Provincial Competitiveness Index Report 2024

On the morning of May 6, in Hanoi , the Vietnam Federation of Commerce and Industry (VCCI) held a ceremony to announce the Provincial Competitiveness Index (PCI) Report 2024 and mark 20 years of continuous journey to improve the business environment in Vietnam.

At the announcement ceremony, Mr. Pham Tan Cong - Chairman of VCCI, said: “In 2024, the PCI report shows a positive picture of improved economic management at the provincial level. The median score reached 67.67 points, up 1 point compared to the previous year and the 8th consecutive year exceeding the 60-point mark - the threshold considered to reflect a favorable business environment. In particular, the original PCI index - the index reflecting the quality of core economic management - reached 68.18 points, continuing to improve continuously since 2016. This is the result of the persistence and perseverance in reform of many localities and the active supervision of the business community. " In particular, Hai Phong City has risen to the leading position with 74.84 points. Localities that have held high positions for many years, such as Quang Ninh (73.20 points), Long An (72.64 points), Bac Giang (71.24 points), continue to be in the top of the rankings. Provinces in the top 10 include: Ba Ria - Vung Tau, Hue City, Hau Giang, Phu Tho, Dong Thap and Hung Yen.

Resolving administrative procedures for businesses in Bac Lieu City.

For Bac Lieu province, the PCI index in 2024 is not in the top 30 announced provinces and cities, but many component indexes continue to have reduced scores and need to be focused on more drastically such as: market entry, transparency, land access, informal costs, etc.

According to VCCI, Vietnam is entering a period of transformation when it sets a target of 8% economic growth in 2025 and maintains double digits in the following years. In that context, PCI is not only a tool to measure the quality of governance, but also an important foundation for the high economic growth program.

PCI acts as a “policy radar”, helping to promptly detect bottlenecks and invisible barriers, thereby creating a transparent, favorable, safe and fair investment and business environment…

News and photos: Kim Trung

Source: https://www.baobaclieu.vn/tin-tuc/cong-bo-bao-cao-chi-so-nang-luc-canh-tranh-cap-tinh-nam-2024-100552.html