Quang Nam ranks 7th on the PCI list 2018

David |

(QNO) - The PCI (Provincial Competitive Index) ranking was announced by the Vietnam Chamber of Commerce and Industry (VCCI) on March 28. Quang Nam got 65.85/100 points, ranking 7th among 63 provinces and cities nationwide. It is the 4th consecutive year Quang Nam has been in top 10 provinces and cities nationwide of PCI.

Speaking to reporters from Quang Nam Newspapers, Vice Chairman of Quang Nam provincial People’s Committee Tran Van Tan said, Quang Nam has been successful in PCI thanks to its efforts to improve the local investment climate. Quang Nam has createed favourable conditions for investors to access to investment opportunities and to work in Quang Nam.

Announcement ceremony for Vietnam PCI 2018
Announcement ceremony for Vietnam PCI 2018

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.