Vietnam’s latest Provincial Competitiveness Index report, based on a survey of 10,000 businesses, contends the country showed notable improvements in economic governance over the past year, improving the business climate across the nation. Significant improvements were noted in entry costs, access to land, time costs, labor quality and confidence in legal institutions.
The greatest improvement is the time required for filling out forms and handling other bureaucratic procedures. For example, hours for tax inspections fell to five hours from eight hours. Also, civil servants are seen as more effective.
The report says Danang is the most preferred business destination for entrepreneurs, followed by the southern province of Binh Duong. Vietnam’s largest cities scored considerably lower.
More on competitiveness in Vietnam