The northern province of Quang Ninh has maintained its top place for three consecutive years in the Provincial Competitiveness Index (PCI) 2019.
Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc speaks at the meeting to announce the report on May 5. Photo by Tien Phong
The PCI 2019, the 15th annual report, was announced on Tuesday by the Vietnam Chamber of Commerce and Industry (VCCI) and the US Agency for International Development (USAID).
The report is based on responses from more than 12,500 enterprises, including nearly 11,000 domestic private firms from 63 provinces and cities and more than 1,500 foreign-invested enterprises in 21 provinces.
Quang Ninh topped the ranking with 73.4 points. It was followed by Dong Thap, Vinh Long, Bac Ninh, Danang, Quang Nam and Ben Tre.
The other localities in the top ten Long An Province, Hanoi and Haiphong cities.
HCM City stood at the 16th position with 67.16 points.
Localities ranked at the bottom of the list include Lai Chau, Dak Nong, Binh Phuoc, Ha Giang and Bac Kan provinces.
VCCI Chairman Vu Tien Loc cited the information from PCI 2019 report as saying more than 50% of surveyed companies plan to expand their operations in the next two years.
Last year, around 380 new businesses were set up every day with registered capital increasing.
However, enterprises still complain about complicated administrative procedures, particularly those related to site clearance.
Roughly 50% of interviewed enterprises admit having to pay bribes for administrative procedures to be completed.
Other difficulties are related to capital shortage and seeking outlets. Vietnamese companies would face more challenges this year due to being affected by the Covid-19 pandemic.