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The Provincial Competitiveness Index

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Deputy PM Truong Hoa Binh works with Phu Yen leaders

NDO – Permanent Deputy Prime Minister Truong Hoa Binh held a working session with key leaders of Phu Yen Province on May 16, with the aim of reviewing the province’s social-economic development in the 2016-2020 period as well as its administrative reforms.
According to the provincial People’s Committee, the province has fulfilled 15 out of 18 criteria set in the provincial Party Congress’s Resolution in the reviewed period while three criteria have yet to be completed, including the average GRDP growth rate, GRDP per capita, and total import and export revenue.
During the five-year period, the province reported an average GRDP growth rate of 7.8% per year while GRDP per capital was estimated VND53.4 million.
The province has also attracted more than 230 off-budget projects worth over VND31 trillion. More than 3,500 enterprises are expected to operate in the locality by the end of 2020, up 60.3% over 2015.
In addition, the province has established and put into operation a centre for public administration and moved up eight places in the provincial competitiveness index (PCI) 2019, ranking 43 out of 63 provinces and cities nationwide.
The province was hard hit by the COVID-19 pandemic in the first four months of 2020 with the economic growth at only 1.08%.
Addressing the working session, the Deputy PM praised efforts of the province in implementing socio-economic tasks and the four-month economic growth rate of 1.08% while many other localities posted negative growth.
The province should quickly outline a master plan for the 2021-2030 period with a vision to 2040 to submit to the Government for approval to serve its long-term development.
The government official also asked the province to continue conducting administrative reforms, improving the PCI and creating favourable conditions for the attraction of FDI and strategic investors.
On the occasion, the Deputy PM visited several policy beneficiary families in Tuy Hoa City and presented VND300 million (US$12,860) to the Study Encouragement Fund of Phu Yen Province.