A provincial representative introduces investors to potential prospects in Tien Giang

It has been almost five months since Tien Giang People’s Committee, a coastal province in the Mekong Delta region, enacted Plan 216, which presents a wide range of measures to improve the locality’s provincial competitiveness index (PCI) rating for 2023.

The prime target is striving to maintain and further raise the score of component indexes which saw improvements in 2022, including in terms of equal competition, legal institutions, and security and order.

The plan also spelled out the need for the province to ramp up efforts to heighten the score of indexes which fell in 2022, such as market entry, land access, informal charges, and labour training.

To better the PCI ranking in 2023 and beyond, Tien Giang People’s Committee has hosted numerous seminars, themed conferences, and business dialogues to delve into the reasons why the ranking dropped in 2022. It simultaneously mandated management at all levels across the province to look into unsolved matters, present drastic actions, and improve service attitude towards businesses and investors.

Along with this, Tien Giang Department of Planning and Investment has been joining efforts with diverse departments, sectors, relevant units, and local areas to ensure implementation efficiency.

The department was also tasked to be proactive in summarising reports and conducting assessments of the province’s PCI ranking execution in 2023, and from there delineating measures for implementation in the following year.

All relevant units and local areas have crafted action plans, particularly those directly involved with PCI components that have been set at high priority for improvement.

Other important tasks include presenting practical measures to improve the local investment and business climate, and enhancing capacity in the fields under the management competency of Tien Giang People’s Committee

Simultaneously, organisations and management agencies assigned to act as central units in heightening the province’s PCI ranking are coordinating closely with relevant bodies to ensure effective and consistent implementation.

The measures set to improve the locality’s PCI ranking are deemed to be of high feasibility. For instance, regarding the cost for market entry index, presided over by Tien Giang Department of Planning and Investment, efforts are geared towards further shortening the time for administrative procedure settlement in investment and business registration, compared to current regulations.

Tien Giang has also encouraged businesses to embrace online business registration, bank account opening and register for digital signature, and sending back admin procedure settlement results through public portal services.

The local departments for labour, social securities, and taxes have been mandated to support firms in shortening time for business procedure settlement. Moving forward, efforts have been made to regularly revise the demand for labour recruitment from businesses based in the province, and provide information to labourers in need.

Businesses have also been given support in labour recruitment to meet manpower demands for production and business rebound and development. For those indexes that improved last year, Tien Giang has presented a suite of measures to maintain and boost scores this year and beyond.