Ba Ria – Vung Tau PCI: Not just a race for rankings

Ba Ria - Vung Tau province has made ongoing reform efforts, producing the region's most open, transparent, and advantageous investment climate for enterprises and investors.

Affirming the PCI's position

Currently, the PCI index is playing an increasingly important role in the investment and business environments of all provinces and cities around the country. This metric assesses the quality of economic governance from the perspective of companies. It can help the local authorities improve management efficiency and create a contemporary, transparent, and appealing investment climate.

With a thorough grasp of the issue, Ba Ria - Vung Tau Province has spent many years focusing all of its efforts on improving the PCI index, aiming to make major improvements to attract investment.

The authorities of Ba Ria - Vung Tau province underline that the PCI index is more than just a race for provinces/cities’ rankings; it is also about corporate and investor satisfaction with the efficacy of local authorities.

In 2023, Ba Ria - Vung Tau province received 69.57 points, placing sixth overall. Since 2021, this province has consistently been among the top ten provinces/cities in the country for economic governance quality. Notably, in 2023, the Provincial Governance and Public Administration Performance Index (PAPI) placed this province ninth out of 63, while the Provincial Green Index (PGI) ranked it eighth out of 63 provinces and cities. This is a remarkable achievement that helps to strengthen Ba Ria - Vung Tau's standing in the Vietnamese economy.

Mr. Nguyen Van Tho argued that Ba Ria-Vung Tau PCI's excellent rankings were due to the determination and efforts of the whole province political system throughout the previous period. Ba Ria - Vung Tau has traditionally regarded companies as the backbone of the economy due to their essential role in local socioeconomic development, and supporting businesses has always been a key priority for the local authorities.

Improving the business environment

Ba Ria-Vung Tau has numerous advantages in terms of geographical location, natural resources, and human resources, as well as a synchronized transportation infrastructure system that connects to key economic regions in the country and region, such as Long Thanh International Airport, Vung Tau Seaport, national road systems...

It also offers excellent investment incentive programs, streamlined administrative procedures, and a business-friendly environment. The province, in particular, is always focused on developing a workforce of dynamic, innovative, and highly trained officials who are ready to assist enterprises in overcoming challenges.

Mr. Nguyen Van Tho said that, in terms of defining enterprises as the "backbone" of the economy, Ba Ria-Vung Tau places a high focus on businesses across the provincial administrative authorities. As a result, it always pays special attention and communicates with businesses on a regular basis in order to understand their problems and barriers and fix them quickly.

Ba Ria-Vung Tau has also adopted the Government's economic stimulus initiatives for enterprises. As a result, the latter has more resources to deal with challenges and expand its operations. Furthermore, Ba Ria - Vung Tau province continually maintains and improves the efficacy of its cooperation with the Prime Minister's Task Force in resolving difficulties and attracting foreign investment flows.

Recognizing that administrative processes play a crucial role in the success or failure of investment projects, Ba Ria - Vung Tau has recently concentrated on revamping administrative procedures in critical sectors such as land, construction, and business  registration. This effort helped to reduce costs, save time for firms, and provide a transparent and safe investment climate.

To achieve these goals, Ba Ria - Vung Tau has formed a special task force, led by the Chairman of the Provincial People's Committee, reflecting the province's strong commitment to business support. It has also promoted the special task force's hotline, which will accept any feedback or suggestions from companies. As a result, the latter may readily contact one another when problems arise. The task force has provided support, answered questions, and handled challenges for businesses in the quickest and most effective manner possible.

This is regarded as an innovative and effective strategy for helping firms, showcasing the province's care and willingness to improve the business environment and attract investment. This concept may be seen as a helpful lesson for other provinces/cities around the country.

With further efforts and a proper development direction, Ba Ria - Vung Tau can achieve many more accomplishments in the near future, becoming an attractive destination for investors and contributing to Vietnam's robust socioeconomic growth.