(HBO) – Hoa Binh province posted 62.81 points, up 5.65 points from 2021, ranking 53rd among the 63 provinces and centrally-run cities in the Provincial Competitiveness Index (PCI), moving up nine places from 2021, showing the province’s great efforts in economic management, according to the PCI 2022 report.


 Public servants process administrative procedures for businesses, locals.

The annual PCI 2022 report was released by the Vietnam Chamber of Commerce and Industry (VCCI). It was compiled basing on feedback from 11,872 businesses, including 10,590 private firms and 1,282 foreign invested enterprises operating in Vietnam.

Specifically, among the nine component indexes, the province earned 6.49 points in entry costs; 6.62 points in land access; 4.80 points in transparency and access to information; 6.83 points in time costs; 6.57 points in informal charges; 6.01 points in policy bias; 6.97 points in proactivity of provincial leadership; 5.73 points in business support services; 5.58 points in labour and training; and 6.91 points in legal institutions.

Of the total, upturn was seen in the scores of seven indexes compared to 2021 thanks to the province’s efforts in improving the local business environment and creating favourable conditions for production and business facilities to operate.

However, Hoa Binh saw decreases in two important indexes of transparency and access to information and business support services. According to experts, transparency and access to information is an important index, a measure of how much time firms waste on bureaucratic compliance, as well as how often and for how long firms must shut their operations down for inspections by local regulatory agencies. Although the drop was slight, it reflects the local business community’s low evaluation of the province’s performance.

Overall, Hoa Binh’s PCI results have shown the province’s progress in the quality of administrative services and favourable land access. However, experts held that in order to attract more investors, the province should work harder to improve its policies to support local firms and creating a smooth, safe and effective business environment.

According to the VCCI, 2023 will be a year with numerous challenges for the domestic business community amid decline of demand in export markets, rising costs and difficulties in capital access. It underlined the need to speed up the improvement of the investment and business environment, along with faster administrative reform and more favourable conditions for businesses to access to information and reduced informal costs./.




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