Tra Vinh province leading an efficient business climate

Diverse factors have laid the bedrock for Tra Vinh to sit atop the delta region in economic development in the first half of this year, with regional GDP expanding 10.25 per cent, according to the Tra Vinh Steering Committee for External Information Services.

Tra Vinh has improved in many areas in the past year in terms of competitiveness and green aspects

Based on the Provincial Competitiveness Index (PCI) rankings report announced by the Vietnam Chamber of Commerce and Industry (VCCI) in May, Tra Vinh scored 67.46 points for 2023, up 1.4 points and two ranks compared to 2022, placing seventh among localities in the delta region and 24th out of 63 localities throughout the country.

The province remains in the top 30 localities nationwide with the best governance, reaching its set targets.

VCCI survey results indicate that businesses highly appreciate the ease of market entry in the province. With a score of 8.02, the province ranked third nationwide in terms of market entry facilitation. A small improvement in scoring also reflects the province’s efforts in reforming administrative procedures for business registration.

The province’s business registration and amendment processes were convenient, and the time to process documents was also rated well, leaving positive impressions on businesses when working with regulatory agencies.

Another highlight in the quality of governance in the province was reduced land-related obstacles. In 2023, the province’s Land Access index reached 7.36 points compared to 7.17 points in 2022, moving up 19 ranks, placing Tra Vinh second nationwide with this index.

This demonstrates Tra Vinh’s concerted efforts in simplifying administrative procedures for land, reducing waiting times, speeding up land clearance, and creating more available land. These efforts effectively reduced costs and time for businesses in Tra Vinh, creating a high level of consensus within the business community.

Additionally, the provincial social order and security have been highly appreciated, ensuring fair and efficient business operations and dispute settlement. The Legal Framework and Security index is the most improved component, as the province ranked first nationwide with a score of 8.31, an increase of 1.15 points and moving up 46 ranks compared to 2022.

To constantly improve the local investment environment and enhance the satisfaction of individuals and businesses, this year Tra Vinh set forth concrete targets. For the PCI ranking, Tra Vinh aims to be among the top 20 localities with a score above 67 points.

In terms of the Provincial Green Index (PGI), the province aims to be named among top 10 localities. Towards this goal, Tra Vinh will focus on implementing wide-ranging solutions in order to raise environmental awareness, reduce the use of plastic products, and replace them with eco-friendly and sustainable materials.

The province will further strengthen the role of the Tra Vinh Business Association in connecting businesses with government agencies to implement provincial policies and regulations, aiming to improve the PGI index.

Not complacent with the results, Tra Vinh has outlined numerous tasks and specific solutions to improve each index component.

At the same time, the province has defined responsibilities and assigned specific tasks to local authorised agencies, and management units at grassroots level to focus on maintaining high scores with well-performing indexes, while improving and elevating those with lower scores in both rankings.

When it comes to other administrative reform indices, Tra Vinh will strictly enforce regulations on administrative discipline and order, intensify inspections, enhance the responsibility and effectiveness of civil servants and officials, and improve the quality of public service delivery through the province’s online public service portal.

Le Van Han, Chairman of Tra Vinh People’s Committee, has directed departments and local authorities to make every effort to improve governance quality and constantly enhance business support.

“The top goal is for Tra Vinh’s PCI to rank among the Top 20 localities nationwide with the best governance quality in 2024,” Han stressed.

Tra Vinh approves 576 billion VND petroleum storage terminal project The southern province of Tra Vinh has approved an investment worth 576 billion VND (23.26 million USD) to develop a petroleum storage terminal project by the Tra Vinh Petrochemical and Energy Joint Stock Company.

Support rises for businesses in Tra Vinh Part of the Mekong Delta, Tra Vinh province is ramping up efforts for investment promotion and investor support to bring breakthroughs to development.

Tra Vinh aims to become renewables exporter hub The Mekong Delta province of Tra Vinh is making concerted efforts to grow into one of the major marine economy and renewable energy centres nationwide.

Tra Vinh potential highlighted with local festivities The Tra Vinh 100-year Wax Coconut Tree Festival and Vu Lan Thang Hoi Week 2024 is slated to begin in late August, encompassing distinct promotion events for Cau Ke district in Tra Vinh province.

Tra Vinh set to elevate distinct wax coconut brand The first-ever festival to commemorate 100 years of the Tra Vinh wax coconut tree, as well as Vu Lan Thang Hoi Week on August 25-31, ushered in a new chapter to promote the province’s economic, cultural, and tourism value chain.