“Hai Phong Soars to the Top of 2024 PCI Rankings: A Testament to its Robust Business Environment Reforms”

A notable highlight from the 2024 PCI ranking report, the 20th of its kind, was unveiled by the Vietnam Chamber of Commerce and Industry (VCCI) in Hanoi on Tuesday.

The awarding ceremony for the top 10 performing localities in the 2024 Provincial Competitiveness Index (PCI) rankings, Hanoi, May 6, 2025

The northern province of Quang Ninh, consistently ranking high in the PCI rankings, secured second place with 73.2 points, an increase of 1.95 points from the previous year. For an impressive 12 consecutive years, Quang Ninh has remained in the top five, showcasing its commitment to improvement. Notable enhancements were observed in land access, transparency, fair competition, workforce training, and institutional quality.

Following closely behind in the top five were Long An, Bac Giang, and Ba Ria-Vung Tau. Additionally, Hue, Hau Giang, Phu Tho, Dong Thap, and Hung Yen also made it to the Top 10.

In terms of overall governance quality, the centrally-run cities of Hanoi, Ho Chi Minh City, Hai Phong, Hue, Da Nang, and Can Tho, ranked within the top 30 provinces and cities. Each of these urban centers demonstrated progress, with improved PCI scores compared to 2023, although at varying rates.

The PCI is a comprehensive assessment of economic governance and administrative reform efforts across Vietnam’s provinces and cities, based on a survey of nearly 11,000 businesses nationwide.

The release of the 2024 PCI coincides with a period of structural transformation within Vietnam’s local administration system. This will be the final PCI edition to feature all 63 provinces and cities in their current configuration. According to Government Resolution 74 and Central Committee Resolution 60, several provinces are anticipated to undergo administrative mergers, resulting in the formation of 34 larger provincial-level units.

VCCI emphasized that the disparity in PCI scores between some of the merging localities underscores the importance of harmonizing governance quality as these new units are established. Bridging these gaps will be crucial to ensuring a seamless transition and maintaining the positive trajectory of business climate reform.

However, the 2024 PCI also brings to light areas where many provinces continue to face challenges. Land access, high compliance costs, and a decrease in local government dynamism are among the key concerns voiced by the private sector.

As Vietnam aspires towards an ambitious GDP growth rate of 8 percent in 2025 and aims for double-digit growth thereafter, sustaining high-quality local governance will be the pivotal factor, as highlighted by VCCI.

Furthermore, VCCI underscored the significance of enhancing the business environment to enable Vietnam to compete with other leading economies in the region and globally.

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