The Quang Nam Provincial Competitiveness Index (PCI) 2019 increased in both scores and rankings, which was announced by the Vietnam Chamber of Commerce and Industry (VCCI) and the US Agency for International Development (USAID) on May 5, 2020.PCI measures economic governance and promotes local socio-economic development in each of the country’s 63 provinces in an effort to improve Vietnam’s business environment.
The index measures the ease of doing business for the private sector including: entry cost for new firms, land access, transparency, time costs of regulatory compliance, informal charges, proactivity of provincial leadership, policy bias, business support services, labor training and legal institutions.
PCI was first developed in 2005 by a team of international and national experts with the support of USAID.
In 2019, Quang Nam PCI is 69.42, ranking 6th (up 3.57 points and one rank compared to 2018). The provincial highlight subindices are entry costs (7.20 points), access to land (7.46 points), transparency (7.12 points), time costs (7.15 points), proactivity (7.32 points) and law and order (7.73 points).
According to Vice Chairman of the Quang Nam provincial People’s Committee Tran Van Tan, the rise in Quang Nam PCI is a result of a service administration.
In addition, the meetings between provincial learders and businessmen and citizens are periodically taking place in order to timely unbind difficulties and obstacles they encounter. As a result, Quang Nam has been one of a few provinces in the excellent group for 5 consecutive years.