Thai Nguyen PCI: Spectacular Breakthrough

4:08:20 PM | 2/7/2015

After 10 years of vigorous efforts to raise the provincial competitiveness index (PCI), Thai Nguyen province secured the 8th position out of 63 provinces and cities in 2014, entering the Top 10 group for the first time. The actual reference system for Thai Nguyen’s PCI is the picture of constantly increased investment attraction in recent years.
 
PCI is launched by the Vietnam Chamber of Commerce and Industry (VCCI) in partnership with the US Agency for International Development (USAID). PCI is the voice of the needs, hopes and expectations of investors to local policymakers; the measure of satisfaction or dissatisfaction of the business community in provincial/municipal administration; and the channel to assess the business environment, economic governance quality, and efforts for public administration reform. Thai Nguyen Province has gradually raised its ranking from a relatively low group to an average group and then a pretty good group. The lowest position was seen in 2011, ranked 57th out of 63 provinces and cities. Two years later, in 2013, Thai Nguyen ranked 25th. And in 2014, it secured the eighth position, a jump of 49 spots from 2011. Mr Dau Anh Tuan, Director of VCCI Legal Department, said, from our yearly watch, we have witnessed clear changes in Thai Nguyen province’s PCI direction and administration. That challenge has brought remarkable results in 2014. Representing the business community, Mr Nguyen Van Thoi, Chairman of Thai Nguyen Business Association, said, the results illustrated the efforts and endeavours for investment and business environment improvements, helping local businesses to do better business. That environment has also drawn gigantic foreign investors to Thai Nguyen province. That is the objective and entirely reasonable feeling of businesses. Among 10 PCI component indices, Thai Nguyen made stunning progress in regulatory index with 6.96 points, compared with below 3 points in previous years. Mr Vu Tien Loc, President of VCCI, said Thai Nguyen is one of few provinces with strong efforts in governance reform and administration. Mr Ted Osius, United States Ambassador to Vietnam, spoke highly of efforts of some province and cities and saw them as emerging markets of growing interests, including Thai Nguyen province. In fact, in recent years, foreign companies had a very good look to investment environment in Thai Nguyen. Determined to maintain and improve PCI rankings in 2015, Mr Nhu Van Tam, Vice Chairman of Thai Nguyen Provincial People's Committee and Director of Thai Nguyen PCI Steering Committee, said Thai Nguyen will add efforts in public administration reform and administrative procedure simplification. The province continues to raise ethics, working manner officials and civil servants, especially those serving enterprises and citizens. Besides, to the province will provide its best support for businesses to deal with problems and difficulties.
 
With its efforts in raising PCI, Thai Nguyen has made a breakthrough progress in investment attraction. After rolling waves of investment in construction steel, export handheld tools, exported garments and textiles, electronic components, mobile devices, electronics and telecommunications devices, the province expects to welcome a new investment wave into trade, service, and amusement. After its high-tech complex, Samsung Group poured its investment to start the second phase of its project in Yen Binh Industrial Park (Pho Yen district). Apart from foreign-led parts producers, the province has also licensed many big domestic projects this year.
 
Mr Dang Xuan Truong, Director of the Department of Planning and Investment of Thai Nguyen province, said, many big Vietnamese and foreign investors are carrying out their projects in Thai Nguyen, including Vingroup Group, Nguyen Kim Trading Company (operator of Saigon - Nguyen Kim consumer electronics stores), Muong Thanh Hotel Group, Big C Supermarket. Particularly, the province allowed Dong Tam Dao Joint Stock Company to invest in a 5,800-ha ecological tourism, sporting and entertaining complex in Pho Yen district. Thai Nguyen also licensed some investment projects from South Korea and other nations in Pho Yen district and Thai Nguyen City - the capital of Thai Nguyen province.
 
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