Da Nang ranked most competitive province for third consecutive year

The 2015 PCI Report released by the Vietnam Chamber of Commerce and Industry (VCCI) and the United States Agency for International Development (USAID) revealed that Da Nang led the country on 68.34 points, followed by Dong Thap on 66.39 pts and Quang Ninh (65.75 pts). Ho Chi Minh City (61.36) dropped two places to sixth while Hanoi (59 pts) jumped two places to 24.

For the first time, this year's report took into account the opinions and experiences of nearly 1,600 FDI and foreign invested enterprises operating in Vietnam to evaluate the investment environment and analyze FDI effectiveness.

Experts noted that Da Nang had improved across a significant set of criteria used to compile the index. The percentage of enterprises that said they did not have "to take many trips to obtain stamps and signatures” climbed to 70 percent from 67 percent last year.

The assessment of the city's government officials on how effectively they process procedures increased by five percent to 76 percent.

The Central region's leading economy has topped the index six times since it was initiated 11 years ago, while Dong Thap province maintained its position in the top five for investment attraction and competitiveness for the eighth consecutive year.

Quang Ninh, the home of the country's coal industry, hit a record high with 65.75 points and ranked in the highest group for the third consecutive year thanks to the integration of e-government at a new public administration center.

Propping up the index were Dak Nong in the Central Highlands (63 pts) and the northwest mountainous provinces of Ha Giang (50.45 pts), Lai Chau (52.77 pts) and Bac Kan (53.20).

The PCI 2015 handled surveys from more than 10,000 private enterprises and the report also includes a chapter assessing Vietnam's SMEs for the first time.

The PCI is a measurement of business development and economic governance that provides a voice for the needs of investors in Vietnam.