Hai Phong fosters open, favorable investment and business environment
In 2024, Hai Phong city topped the national Provincial Competitiveness Index (PCI) for the first time.
Proactive listening and timely support
According to the 2024 PCI result, Hai Phong city ranked first nationwide with a score of 74.84. Seven out of 10 sub-indexes saw improvement compared to 2023.
Notably, the city's score in the Proactivity of Provincial Leadership category increased significantly, from 6.8 in 2023 to 7.39 in 2024, while many other provinces and cities experienced stagnation or decline in this sub-index. This demonstrates Hai Phong's commitment and measures to listen to, accompany and support businesses.
In early April, shortly after the United States announced a plan to impose reciprocal tariffs on imports from various countries, including Vietnam, an action predicted to directly impact the nation's import, export, and economic growth, Hai Phong acted swiftly.
As a key industrial, seaport, and logistics hub in the North with a high degree of economic openness, the city was identified as being especially vulnerable.
Therefore, at the 19th session of the city Party Committee, convened to review the first-quarter performance, an urgent topic was added to the agenda: assessing the potential direct and indirect impacts of the US’s tariff policy on the city’s growth and budget revenue. The goal was to devise prompt, adaptive measures to assist businesses in navigating these challenges. The city’s leadership emphasized the importance of proactive and rapid action, both immediate and long-term, to turn adversity into opportunity.
Greater adaptability
Beyond regular quarterly and annual dialogues, Hai Phong authorities, including departments, sectors, and localities, have engaged directly with businesses whenever global market fluctuations or legal and policy changes arise.
Governmental agencies promptly and accurately updated enterprises while listening to their concerns. Based on this feedback, the city provided concrete answers and introduced flexible solutions to address emerging issues of businesses. This responsive approach earned high praise from the business community for creating a dynamic, fair, and transparent business environment.
“The city’s investment and business environment is becoming increasingly favorable, with simpler and shorter administrative procedures. The city and its departments are always by our side, giving us confidence to maintain and expand operations,” said Yu Peng Huy, Deputy General Director of Horn Vietnam Co., Ltd. in An Duong industrial park.
The PCI result is based on feedback and evaluations from the business community, making it a kind of “policy radar” that enables local governments to accurately identify bottlenecks and barriers and, in turn, create a more favorable investment and business environment.
Moreover, with the National Assembly’s adoption of a resolution to replace Resolution 35 on piloting a number of specific mechanisms and policies for Hai Phong’s development, policies focusing on decentralization and delegation of power will be the basis and conditions for the city to create modern, open, and transparent development institutions, creating opportunities for the city to attract investment and businesses to thrive.
HOANG MINH