Hung Yen ranked 12th out of 63 localities in the provincial competitiveness index (PCI) tally in 2023 - Photo: Pham Dang

The province ranked 12^th out of 63 localities in 2023, with certain areas posting high scores, including entry costs, access to land, time costs, informal charges, and proactivity.

These results are based on fair and objective assessments by investors and businesses, bolstering the efforts of Hung Yen to constantly improve quality and satisfaction for individuals and businesses.

Tran Quoc Van, chairman of Hung Yen People's Committee, noted that the implementation of solutions to improve the local investment and business environment and boost provincial competitiveness had become a development priority.

The provincial Party Committee and People's Committee mandated the implementation of synchronous and effective solutions for administrative procedural reform, focusing on improving the quality and efficiency of investment promotions. The province's top leaders have also been working with investors.

On September 16, provincial leaders hosted a meeting to promote investment cooperation with senior leaders of The Trump Organization.

In May, Hung Yen also convened a meeting with 400 businesses representing more than 16,000 enterprises in the province, striving to solve their difficulties in a timely manner and create a competitive environment.

At the meeting, Nguyen Huu Nghia, secretary of Hung Yen's Party Committee, underlined the message that the province's management authorities are poised to join dialogues and are committed to solving problems, creating the most favourable environment for business development.

According to head of Hung Yen Industrial Parks Management Board, administrative procedural reform regarding public services for investors and businesses has strongly improved.

For example, the board has issued an internal settlement process for granting investment certificates, in which the time to settle administrative procedures as prescribed has been shortened from 15 days to 48 hours.

With the involvement of local authorities at all levels, Hung Yen has achieved positive results in investment attraction.

In the first eight months of this year, the province's industrial parks (IPs) hailed 50 new projects with newly committed and supplemental capital volume surpassing $1.3 billion, of which foreign investment contributed $472 million.

Local focus

To improve its capacity and position, Hung Yen has scaled up efforts to boost its PCI ranking, starting from a grassroots level to create a stable business investment environment that attracts investment and facilitates production.

Hung Yen aims to become a first-tier centrally-governed smart city before 2035 - Photo: Thanh Tan

On September 10, Hung Yen People's Committee started a project to rank districts and departments (DDCI).

The project aims to highlight bottlenecks directly related to economic management and the business environment, then study solutions to remove them.

The index will evaluate provincial departments and district-level management units through 11 component indicators.

The results will serve as an effective solution to improve the quality of economic management across the whole province, helping Hung Yen break out in administrative reform and improve the local investment environment.

The province is aiming to break into the top 20 leading localities in the country regarding public administration reform, the Provincial Governance and Public Administration Performance Index, and the Information and Communication Technologies Index.

In addition, it is necessary to improve policies to promote investment, production, and business associated with innovation, digital transformation, and green conversion, gearing towards sustainable development.

With a specific plan, Hung Yen has made progress in administrative reform, contributing to bolstering competitiveness and driving socioeconomic development.