The fifth Provincial Competitiveness Index (PCI) analysis (2009) took place during a period of declining private sector optimism. The provinces supported by The Business Sector Programme felt back.
The year 2009, which marks the fifth iteration of the PCI analysis, is especially important because it took place amid declining private sector optimism following the global economic down-turn. The PCI results published on 10 January 2010 were expected to serve as a helpful signpost to help provincial policy makers overcome weaknesses and thereby help entrepreneurs overcome the current economic hardship.
Despite macro-economic figures indicating that Vietnam has escaped the worst of the 2009 global financial crisis, the PCI results show that the optimism that characterized entrepreneurs a few years ago has dropped over time. Far fewer businesses plan to expand their operations over the next two years.
The weighted PCI ranking reveals that Da Nang, Binh Duong, Lao Cai, Dong Thap, Vinh Long and Vinh Phuc remain among the very best performers in the country. Cao Bang, Dak Nong and Bac Kan are found at the bottom of the ranking. Out of the 4 provinces supported by the Business Sector Programme (BSPS), Khanh Hoa is the most competitive province, placed in the mid-high level of the league, although it went down by 6 places compared with 2008. Hanoi’s ranking was dropped by 2 positions, which was proved not to be due to its merge with Ha Tay. Lam Dong and Nghe An unfortunately suffered a huge slide back in the ranking (8 and 13 positions respectively).
Across sub-indexes, measures of Entry costs, Access and Security of land, Time costs, Labour Quality and Confidence in Legal Institutions show signs of definitive improvement over the past year. Time costs of Regulatory Compliance improved the most which indicate that some headway is finally being made on the goals of public administrative reform.
Worrisome declines, however, are evident in terms of Transparency, Informal Charges, and Pro-activity of local leaders. Particularly, decline in Transparency is the most significant, indicated by access to provincial planning documents and the percentage of firms believing relationships are necessary to receive business documentation (61%) falling back to 2006 levels.
To download the PCI report, please click here
Despite macro-economic figures indicating that Vietnam has escaped the worst of the 2009 global financial crisis, the PCI results show that the optimism that characterized entrepreneurs a few years ago has dropped over time. Far fewer businesses plan to expand their operations over the next two years.
The weighted PCI ranking reveals that Da Nang, Binh Duong, Lao Cai, Dong Thap, Vinh Long and Vinh Phuc remain among the very best performers in the country. Cao Bang, Dak Nong and Bac Kan are found at the bottom of the ranking. Out of the 4 provinces supported by the Business Sector Programme (BSPS), Khanh Hoa is the most competitive province, placed in the mid-high level of the league, although it went down by 6 places compared with 2008. Hanoi’s ranking was dropped by 2 positions, which was proved not to be due to its merge with Ha Tay. Lam Dong and Nghe An unfortunately suffered a huge slide back in the ranking (8 and 13 positions respectively).
Across sub-indexes, measures of Entry costs, Access and Security of land, Time costs, Labour Quality and Confidence in Legal Institutions show signs of definitive improvement over the past year. Time costs of Regulatory Compliance improved the most which indicate that some headway is finally being made on the goals of public administrative reform.
Worrisome declines, however, are evident in terms of Transparency, Informal Charges, and Pro-activity of local leaders. Particularly, decline in Transparency is the most significant, indicated by access to provincial planning documents and the percentage of firms believing relationships are necessary to receive business documentation (61%) falling back to 2006 levels.
To download the PCI report, please click here
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