Khanh Hoa improving PCI Index to attract more investment

Khanh Hoa aims to be in the top 10 provinces and cities with the highest Provincial Competitiveness Index (PCI) in the country by 2030. This is the "key" to attracting strong investment, creating momentum for sustainable development, and helping the province enter a decade of double-digit growth.

PCI is an important measure, reflecting the quality of economic management, the level of business environment and administrative reform efforts of each locality. In fact, localities leading in PCI scores often have high GRDP growth rates, strongly attracting domestic and foreign investment capital.

Van Phong area focuses on attracting large investors.

In 2024, the PCI of Khanh Hoa province (old) reached 67.66 points, an increase of 1.14 points compared to 2023, but the ranking dropped one place, to 35/63 provinces and cities nationwide. Of the 10 component indexes, 5 indexes increased in points, but the weight was low, not enough to improve the ranking; 5 indexes decreased in points, most of which were important indexes with high weights, affecting the total PCI score of the province. The indexes that decreased in points include: Access to land (decreased by 1.02 points, ranked 52/63); informal costs (decreased by 0.59 points, ranked 51/63); dynamism of the provincial government (decreased by 0.59 points, ranked 42/63). Meanwhile, Ninh Thuan province (old) has a PCI score of 69.61 points in 2024, ranked 13/63, up 0.51 points compared to 2023 and is the third consecutive year in the group of 30 provinces with the best governance quality in the country; 6/10 component indexes increased in score, many of which were in the leading group.

According to Chau Ngo Anh Nhan - Director of the Department of Finance, the merger of the two provinces helps Khanh Hoa have advantages in scale, resources, and development potential. In the coming time, the province will focus on solutions to promote advantages, in which, improving PCI is identified as a key factor. Because practice shows that an open and transparent investment environment is an open door to attract resources, creating momentum for sustainable economic growth.

Tran Hoa Nam - Vice Chairman of the Provincial People's Committee, emphasized: "Khanh Hoa is determined to build a friendly government, with the motto of taking businesses as the center, shifting from the spirit of solving to the spirit of serving. This is not just a slogan, but a change from awareness to action, from provincial leaders to commune-level officials. This transformation will create a favorable, open environment where businesses feel accompanied and supported".

To realize Resolution No. 01-NQ/TU of the Provincial Party Committee on double-digit economic growth in the period of 2025 - 2030, the province is focusing on improving weak indicators and promoting indicators with good results.

Ca Na general seaport, a new driving force for the marine economy in the south of the province.

In addition, to minimize informal costs, the province has increased the application of technology such as cameras and software to monitor the document processing process to prevent harassment; develop an anonymous reporting mechanism, incorporate the criterion of “No additional costs incurred outside of regulations” into the assessment and classification of officials. In addition, the province strives to reduce at least 30% of records and forms in administrative procedures; promote the implementation of online public administrative procedures at level 4; in particular, periodically organize meetings, dialogues, and “Business Coffee” programs between provincial leaders and the business community to listen and promptly resolve problems. Vice Chairman of the Provincial People's Committee Tran Hoa Nam affirmed: "Khanh Hoa strives to be in the top 10 provinces and cities with the highest PCI, PAPI (Provincial Public Administration Performance Index), PAR Index (Administrative Reform Index), PDTI (Provincial Digital Transformation Index) in the country. The province continues to simplify unnecessary intermediate administrative procedures and processes to create an ideal environment for business investment; make the most of specific mechanisms and policies to attract strategic investors, especially foreign direct investment. Along with that, proactively select foreign investment projects with advanced technology transfer and modern management, with commitments to link and support businesses to participate in the global value chain, in line with the economic restructuring orientation and development strategies of the province.

With breakthrough, drastic and synchronous solutions, the goal of entering Top 10 provinces and cities with leading PCI in the country is completely feasible. This will create a strong push, attract investment capital, and turn Khanh Hoa into one of the leading economic centers in the country in the coming years.

DINH LAM

Translated by T.T