The Viet Nam Chamber of Commerce and Industry (VCCI) and the US Agency for International Development (USAID) announced the 2021 PCI rankings on Wednesday morning. Da Nang is one of the top five Vietnamese localities across the whole Viet Nam, coming in fourth place, behind Quang Ninh, Hai Phong and Dong Thap.

Da Nang ranks fourth in national 2021 PCI ranking. Photo: pcivietnam.vn

In detail, Quang Ninh Province secured its position at the top of the 2021 PCI ranking with the impressive score of 73.02/100, followed by Hai Phong with (70.61/100) and Dong Thap with 70.53/100.

With an overall score of 70.42/100, Da Nang retained its position in fourth place, among good performers in the 2021 PCI rankings.

Most notably, Da Nang topped the 2021 PCI rankings for the central coastal region, and it was followed by Thua Thien-Hue Province 69.24/100.

Among the ten PCI 2021 sub-indices, Da Nang witnessed significant improvements in three, namely proactive leadership up by 0.64 points as compared to the 2020 PCI ranking, business support services up 1.25 points, and legal institutions and security up 0.28 points.

According to VCCI's assessments, Da Nang was one of the Vietnamese localities with the most stability in terms of quality results of economic management capacity assessment. Thus, in the 3 consecutive years, 2018, 2019 and 2020, Da Nang ranked fifth in the PCI ranking, but it moved to fourth place in the 2021 PCI ranking.

PCI is the result of a major ongoing, collaborative effort between the VCCI and the USAID to enhance provincial economic governance to create a business-enabling environment for private sector development in Viet Nam.

The PCI is designed to assess the ease of doing business, economic governance, and the efficacy of administrative reform efforts by local governments in all cities and provinces across Viet Nam and municipalities.

The overall PCI index score comprises ten sub-indices, namely market entry costs, land access, transparency, time costs, informal charges, equitable competitive environment, proactive leadership, business support services, labour training, and legal institutions, on a 10-point scale each, all of which reflect economic governance areas that affect private sector development.

Reporting by MAI QUE - Translating by A.THU