Hai Phong has reached the top of the 2024 Provincial Competitiveness Index (PCI) rankings for the first time, earning 74.84 points. The milestone marks a major leap forward in administrative reform and investment attraction for the northern port city.

On May 6, the Vietnam Chamber of Commerce and Industry (VCCI) released the 2024 PCI Report, commemorating two decades of supporting improved business environments across the country.

Speaking at the ceremony, VCCI Chairman Pham Tan Cong highlighted that this year’s PCI report paints an optimistic picture of provincial economic governance.

The national median score rose to 67.67 points, up one point from last year and surpassing the 60-point benchmark - regarded as the threshold of a favorable business environment - for the eighth consecutive year.

Notably, the core PCI score, which reflects essential governance quality, reached 68.18 points, continuing its steady rise since 2016. This progress reflects sustained reform efforts by many localities and close monitoring by the business community.

Hai Phong’s emergence as the new PCI leader, with a score of 74.84, serves as compelling evidence of its recent achievements in economic growth and investment appeal.

Other provinces with consistently high PCI rankings include Quang Ninh (73.20), Long An (72.64), and Bac Giang (71.24), which remain in the top tier.

The top 10 also includes Ba Ria - Vung Tau, Thua Thien - Hue, Hau Giang, Phu Tho, and Dong Thap. Notably, Hung Yen entered the top-tier list for the first time.

According to Chairman Cong, these rankings tell a story of transformation, effort, and innovation. PCI has accompanied local governments on their journey toward healthy competition, enterprise-centered governance, and inclusive, sustainable development.

He emphasized that Vietnam is entering a highly ambitious growth phase, with the Party, National Assembly, and Government targeting an 8% GDP increase in 2025 and double-digit growth in the following years. Within this context, PCI is not just a measurement tool but also a key foundation for high economic growth strategies.

This year marks the 20th PCI announcement and the last time all 63 provinces and cities will be included in the rankings before a major administrative reorganization - mandated by a Central Party resolution - is implemented in late 2025.

This transition marks the end of a 20-year reform cycle and the beginning of a new development era, where effective governance and innovation will be key drivers.

Looking ahead, with the merging of provincial-level units, restructuring of local government into two administrative tiers, and reorganization of departments, improving the business environment at the provincial level will present both new opportunities and challenges.

Alongside PCI, VCCI plans to launch new initiatives such as the Provincial Green Index (PGI), which will measure environmental governance quality, support sustainable development, reduce greenhouse gas emissions, and promote climate adaptation.

Together, PCI and PGI will serve as a dual-index framework that advances both economic growth and environmental sustainability - Vietnam’s key twin goals.

Ngoc Cuong