Quang Nam: A breakthrough in competitive capacity

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(QNO) - The Quang Nam Provincial Competitiveness Index (PCI) ranked 7th in 2017. It is the 3rd consecutive year Quang Nam has been in top 10 provinces and cities nationwide of PCI. The position shows the provincial effective reform in investment attraction. The PCI ranking is annually announced by the Vietnam Chamber of Commerce and Industry (VCCI) and the US Agency for International Development (USAID).

  Quang Nam creates favourable conditions for investors.
Quang Nam creates favourable conditions for investors.

According to Vice Chairman of the Quang Nam People’s Committee Le Tri Thanh, the province makes every effort to create favourable conditions for investors through the reform of administrative procedures, human resource training and development, and the dialogues between the provincial authorities and businesses to unbind difficulties. The province has strived to be one of ten provinces and cities nationwide having the highest ranking of PCI from 2018. The PCI shows the improvement of the provincial investment climate. Quang Nam province continues to consider the promulgated regulations and investment procedures to improve its PCI position, attract more investors. Vice Chairman Thanh said the authority should listen to businesses to resolve their problems in time. 

Vice Chairman Thanh at the meeting of Public-Private Partnerships.
Vice Chairman Thanh at the meeting of Public-Private Partnerships.

A province that is considered to perform well on the PCI is the one that has: 1) low entry costs for business start-up; 2) easy access to land and security of business premises; 3) a transparent business environment and equitable business information; 4) minimal informal charges; 5) has limited time requirements for bureaucratic procedures and inspections; 6) limit crowding out of private activity from policy biases toward state, foreign, or connected firms; 7) proactive and creative provincial leadership in solving problems for enterprises; 8) developed and high-quality business support services; 9) sound labor training policies; and 10) fair and effective legal procedures for dispute resolution.