2023 PGI-PCI Full Report

Published: May 09, 2024

Executive Summary

In current times, an exemplary business investment climate is characterized not only by procedural efficiency but also by a commitment to green growth and sustainable development. During the COP26 Conference in Glasgow, Prime Minister Pham Minh Chinh announced the country’s ambitious target to achieve net-zero emissions by 2050. This demonstrates the significant political dedication and determination of both the Party and the Government of Vietnam in promoting an economic transformation, thereby tackling pressing global challenges posed by climate change and environmental degradation. To this end, Vietnam has enacted numerous policies and regulations to foster a shift toward an economically sustainable model of growth that is marked by a reduction in carbon emissions.

The implementation of such critical policies and orientation by the Party and Government necessitates collaborative and proactive engagement of the business community. Consequently, since late 2022, VCCI has spearheaded the development of the Provincial Green Index (PGI). This index evaluates and ranks provinces’ environmental policy from the perspective and behaviors of businesses to promote better business behavior and practices, including the application of new green technologies. It is fortuitous that this initiative has promptly received endorsement and support from private entities, USAID, and various relevant stakeholders.

Through the development and release of the PGI in tandem with the PCI, we hope that localities will persist in reforming their business environment and pay greater attention to environmentally responsive economic development. The 2023 PCI and PGI report is expected to provide state agencies at all levels with policy indications that are crucial to their policy formulation and managerial functions. Moreover, the report is envisaged to be an impetus for the local transition towards sustainable growth while offering a reference to investors who contemplate engagements in environmentally sustainable projects, as well as to interested parties.

This year, we chose “Sức Xanh” (Green Vitality) by the renowned Vietnamese artist Pham An Hai as the cover art for the report, as it symbolizes our message and our faith in a vigorous transition towards an investment climate that not only fosters business growth but also prioritizes environmental sustainability.