Da Nang has taken fifth place in Viet Nam’s Provincial Competitiveness Index (PCI) for 2019 with 70.15 points on a 100-point scale.  

Da Nang finishes 5th in the 2019 PCI ranking

The results were announced by the Viet Nam Chamber of Commerce and Industry (VCCI) and the US Agency for International Development (USAID) at an online meeting on Tuesday morning.

Quang Ninh Province secured its position at the top of the 2019 PCI ranking with impressive score of 73.40 points, followed by Dong Thap with 72.10 points, Vinh Long 71.30 and Bac Ninh 70.79.

Da Nang has capture fifth place in the PCI rankings nationwide for second straight year.

Most notably, the city topped the 2019 PCI ranking for the central coastal region, and it was followed by Quang Nam Province with 69.42 out of 100 points.

Amongst the 10 sub-indices in the PCI ranking, Da Nang made remarkable improvements in the criteria of ‘land access’ with 7.44 points, ‘informal charges’ with 6.75 and ‘legal institutions and order security’ with 6.99 over the past 5 years. Notably, these are the three sub-indices that Da Nang has achieved the highest scores over the past 5 years.

The city saw a significant increase in the points of 8/ 10 sub-indices against 2018. Meanwhile, the points of ‘market entry costs’ and ‘time costs’ have slightly decreased.

PCI is a critical tool for measuring and assessing the standards of economic governance in 64 provinces nationwide from the perspective of private sector businesses.

The overall PCI index score comprises 10 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, with each accounting for 10 points, all of which reflect economic governance areas that affect private sector development.

The PCI 2019’s organisers sent out questionnaires to 12,500 enterprises nationwide, including around 11,000 domestic private firms and 1,500 FDI companies.

By KHANG NINH - Translated by MAI DUNG