VCCI President Vu Tien Loc said Danang along with Quang Ninh, Dong Thap, and Binh Duong, made breakthroughs with their new reform initiatives. Management and competitiveness are improving nationwide.
PCI collects opinions of private firms with a view to promoting their growth, especially micro, small and medium-sized enterprises, while creating jobs for people. he added.
US Ambassador to Vietnam Ted Osius commented that PCI report is important to investors and businesses interested in Vietnam.
The collection and analysis of data for the report show that competition helps improve operation effectiveness, he said, adding it will also promote trade affiliation as well as economic growth and prosperity.
According to the report, the northern province of Quang Ninh came second with 65.6 points, followed by Mekong Delta Dong Thap province with 64.96 points, southern Binh Duong province with 63.57 points, Vinh Long, 62.76 points and Lao Cai, 63.49 points.
Notably, Hanoi managed for the first time in many years to exceed the 60 point level to rank 4th.
Dau Anh Tuan, head of the Legal Department of the VCCI said compared to 2015, bright signs have been seen in various aspects, including dynamism and pioneering of the provincial administrations, informal cost, labor-force training, equal competition and business registration.
However, administrative procedure burden and land access have yet to be solved while legal environment is yet safe, posing obstacles for many domestic businesses, he said.
The PCI report 2016 has also reflected the rising trend of household businesses, as 65 percent of the firms enjoyed profit, the highest figure in the recent five years.
The business community also showed their optimism for business prospect as 48% of them revealed their intention to expand operations in the next two years.