Improving PCI Index, Strengthening Investor Confidence

4:02:27 PM | 6/27/2022

Determined to create breakthroughs in raising the Provincial Competitiveness Index (PCI), in the past five years, the Provincial People's Committee has always attached much importance to building and applying mechanisms and policies to facilitate businesses to access resources, investment and business opportunities and obtained many positive outcomes.

According to PCI 2021, Ninh Thuan ranked 49th out of 63 provinces and cities, scoring 62.23 points to stand in the average group. Historically, its outstanding performance was seen in 2012, with a No. 18 ranking. Ninh Thuan province has faced growing concerns among the business community as its competitiveness score did not pick up and its standing fell sharply. Therefore, local authorities located institutional bottlenecks and key reform points. They focused on analyzing and assessing shortcomings and limitations to take remedial measures to enhance business satisfaction, strengthen business trust and partnerships. Mr. Tran Quoc Nam, Chairman of Ninh Thuan Provincial People’s Committee, affirmed, “Enterprises are the driving force of local economic development”. Therefore, the province has carried out many consistent solutions, readily accompanied and applied highest support for businesses, especially business development policies. In addition, Ninh Thuan province hopes to receive recommendations and proposals for socioeconomic development policies, including business development ones.

To raise the PCI Index and create a competitive position and make breakthroughs in 2021-2025, Ninh Thuan province has also put forth many solutions with the most basic goals for better PCI subindices, with focus placed on strongly raising weak component indicators which dropped in scores and resulted in overall PCI declines, including transparency, business support services, labor training and other indicators that determine ranking positions. The province has increased open meetings and dialogues with enterprises and entrepreneurs to grasp their business situations to better support to deal with emerging hardships regarding business development; accelerated reforms of administrative procedures, improved the performance of public administration service centers; provided online public services of Level 3 and Level 4 in reception and processing of administrative records and delivery of results to ease enterprises and investors with administrative procedures on business investment. In addition, Ninh Thuan will support and build digital transformation programs and e-commerce transaction applications for businesses and step up trade and investment promotion and business support programs.

PCI is a measure used for better reforms of administrative procedures and a more attractive business environment. The effort of the province in recent years has helped businesses strengthen their confidence, and rest assured in their investment in production and business development in Ninh Thuan province.

Source: Vietnam Business Forum