Interviews
Southern Binh Duong - most attractive destinations for investors
24 Nov '07
2 min read
An important report was released today which compares business conditions affecting domestic enterprises throughout Vietnam. The report - named the Provincial Competitiveness Index (PCI) - is compiled by Vietnam Chamber of Commerce and Industry with funding support and technical assistance from the U.S. Government through the United States Agency for International Development Vietnam Competitiveness Initiative.
United States Ambassador to Vietnam Michael Michalak joined Dr. Vu Tien Loc, Chairman of Vietnam Chamber of Commerce and Industry in releasing the report at a ceremony this morning. This third annual edition represents candid, unfiltered input from more than 6,700 Vietnamese entrepreneurs and managers of small and medium domestic enterprises across 64 provinces.
The report documents significant improvements over the past year in conditions faced by domestic businesses, include a reduction in entry and development costs, administrative requirements, registration time and inspections.
Provinces that are most welcoming to domestic businesses this year are Binh Duong, Da Nang, Vinh Long, Binh Dinh, Lao Cai, An Giang, Vinh Phuc, Ba Ria-Vung Tau, Dong Thap and Ho Chi Minh City. Provinces demonstrating the greatest single year improvements (a 7-13 point increase) were Thua-Thien Hue, Ca Mau, Tien Giang, Soc Trang, Ba Ria-Vung Tau, Long An, Ben Tre, Quang Ngai, and Thanh Hoa.
PCI 2007 shows that the median provincial score increased by 3.2 points, reflecting a general improvement in the conditions facing small and medium-sized domestic businesses in the nation. A one point increase in the PCI score is estimated to result in an estimated 8 new active businesses; 2.5 per cent additional investment per capita; 4.2 million VND (US$253) more profit per enterprise, and 1 per cent increase in GDP per capita.
“We are proud of -- and committed to -- the strong collaboration between our two governments in economic growth, health and humanitarian assistance,” said Ambassador Michalak at today's presentation. “It is truly exciting, and frankly mutually beneficial to see Vietnam emerging as a serious economic competitor in the world economy."
United States Ambassador to Vietnam Michael Michalak joined Dr. Vu Tien Loc, Chairman of Vietnam Chamber of Commerce and Industry in releasing the report at a ceremony this morning. This third annual edition represents candid, unfiltered input from more than 6,700 Vietnamese entrepreneurs and managers of small and medium domestic enterprises across 64 provinces.
The report documents significant improvements over the past year in conditions faced by domestic businesses, include a reduction in entry and development costs, administrative requirements, registration time and inspections.
Provinces that are most welcoming to domestic businesses this year are Binh Duong, Da Nang, Vinh Long, Binh Dinh, Lao Cai, An Giang, Vinh Phuc, Ba Ria-Vung Tau, Dong Thap and Ho Chi Minh City. Provinces demonstrating the greatest single year improvements (a 7-13 point increase) were Thua-Thien Hue, Ca Mau, Tien Giang, Soc Trang, Ba Ria-Vung Tau, Long An, Ben Tre, Quang Ngai, and Thanh Hoa.
PCI 2007 shows that the median provincial score increased by 3.2 points, reflecting a general improvement in the conditions facing small and medium-sized domestic businesses in the nation. A one point increase in the PCI score is estimated to result in an estimated 8 new active businesses; 2.5 per cent additional investment per capita; 4.2 million VND (US$253) more profit per enterprise, and 1 per cent increase in GDP per capita.
“We are proud of -- and committed to -- the strong collaboration between our two governments in economic growth, health and humanitarian assistance,” said Ambassador Michalak at today's presentation. “It is truly exciting, and frankly mutually beneficial to see Vietnam emerging as a serious economic competitor in the world economy."
Vietnam Chamber of Commerce and Industry
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