Da Nang Tops Vietnam’s Provincial Competitiveness for 4th Straight Year

Tuan Minh

10:06 14/03/2017

BizLIVE - Da Nang continues to be the most investment-friendly locality in Vietnam.

Da Nang Tops Vietnam’s Provincial Competitiveness for 4th Straight Year

The center of Da Nang city. Photo: baodanang.vn

The central coastal city of Da Nang, with a score of 70 points, takes the lead among the most competitive localities in Vietnam in terms of business facilitation in 2016 for the fourth year in a row, says the annual Provincial Competitiveness Index (PCI) report.
2016 also marks the seventh time the city tops the rankings since the first PCI report in 2006, according to the report released by the Vietnam Chamber of Commerce and Industry (VCCI) and the U.S. Agency for International Development (USAID) on Tuesday.
With a score of 65.6 points, Quang Ninh comes second, the highest position occupied by this northern province so far, followed by Dong Thap (64.96 points), Binh Duong (63.57 points) and Lao Cai (63.49 points) provinces.
Hanoi has been ranked among the localities with “Good governance” for the first time, occupying the 14th ranking, up 10 notches from last year’s report. Ho Chi Minh City, meanwhile, slides two steps to the eight position.
The PCI 2016 report indicates improvements of domestic enterprises, with their average registered capital reaching 18.1 billion dong ($794,000), double that a decade ago. The portion of companies planning to recruit more employees increases by one percentage point year-on-year to 13%.
Up to 11% of foreign-invested enterprises (FIEs) have answered they have raised their capital base and 63% have expand their personnel, the highest in the past five years. More than half of them have plans to boost operation, the report shows.
The PCI is designed to assess the ease of doing business, economic governance, and administrative reform efforts by Vietnam’s provincial and city governments in order to promote private sector development.
The PCI 2016 report collects feedback from 11,600 enterprises, including 10,000 domestic firms across 63 provinces and cities and nearly 1,600 FIEs in 14 localities.

TUAN MINH

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