The Coastal Province’s PCI Miracle

Although Ninh Thuan Province doesn’t top the PCI rankings, its provincial competitiveness index has shown a remarkable improvement, climbing from 49th place in 2021 to 13th in 2024. This success is a testament to the province’s effective administrative reforms, attractive investment policies, and consistent local economic growth in the double digits over the past few years.

In just the last three years, Ninh Thuan’s Provincial Competitiveness Index (PCI) has seen an astonishing improvement. While the province languished in the 38th, 43rd, 49th, and even 52nd positions during 2013-2021, its current ranking on the “PCI map” is a remarkable achievement for the Central Coastal region.

This achievement can be attributed to the local leadership’s bold strategic decisions, including hiring foreign consultants to develop a master plan for socio-economic development up to 2020, and the establishment of the Ninh Thuan Investment, Trade, and Tourism Promotion Center by merging three units with the aim of supporting businesses and addressing investors’ concerns. Additionally, the province has adopted a green growth model.

Most importantly, administrative reforms have led to continuous improvements in various indicators such as market entry, time costs, land access, informal costs, equal competition, business support policies, and legal institutions, with scores consistently above 7.0 to 8.0 in the PCI rankings.

Specifically, vigorous reforms in investment-related administrative procedures and the enhancement of public services at level 4 have reduced the time required for investment approval procedures by 30% compared to central government regulations (from 29 working days to 23 working days).

Land access is a key priority for investors in the province. All districts in difficult socio-economic conditions are eligible for the highest investment incentives. As a result, land rental prices in Ninh Thuan’s industrial parks are only 30% of the national average.

Furthermore, the province offers incentives for sectors, industries, and occupations as stipulated in the Law on Investment…

In addition, the Provincial People’s Committee will provide investment support for projects within industrial parks. Specifically, for the construction of infrastructure in Phuoc Nam, Du Long, and Ca Na industrial parks, investors will be exempt from land rent for the entire period and will enjoy a corporate income tax rate of 10% for 15 years from the start of production and business; they will be exempt from tax for four years from the first taxable income and will enjoy a 50% reduction in payable tax for the next nine years (applicable to secondary projects investing in the above three industrial parks).

In terms of investment promotion, the province focuses on on-the-spot investment promotion, maintains regular business dialogues to promptly address difficulties, promotes private economic development, and supports businesses in innovation and creativity. With these significant improvements, Ninh Thuan has attracted investments from domestic and foreign enterprises in recent years.

In 2024, the province approved investment policies and investors for 13 projects with a total registered capital of VND 32,846 billion and adjusted 53 projects with a total additional capital of about VND 18,414 billion. Among the approved projects are large-scale projects with great potential to boost the province’s economic development in the coming years, such as the Phuoc Hoa Pumped-Storage Hydropower Project (with a total investment of VND 22,865 billion), the Tay Bac New Urban Area Project (VND 7,750 billion), the Social Housing Project in Thanh Hai Resettlement Area (VND 1,136 billion), and the Phan Rang Center Project (VND 864 billion)…

In the past two years, several transport infrastructure projects have been completed and put into operation, including the 61.5 km-long North-South Expressway project, the Cam Lam – Vinh Hao section of the North-South Expressway in the Eastern Region, which passes through Ninh Thuan Province. The Van Lam – Son Hai road project, with a length of 13.077 km, is located in Phuoc Dinh commune, Thuan Nam district. The Northern Ring Road project, with a length of 10.42 km, is located in Bac Phong commune, Thuan Bac district. The road project connecting Tan Son town, Ninh Son district, Ninh Thuan province, to Ta Nang junction, Duc Trong district, Lam Dong province, with a length of 63.32 km, aims to “shorten the distance between regions.”

Notably, in 2025, the province continues to effectively implement the direction of developing Ninh Thuan into the country’s energy and renewable energy center, in conjunction with the implementation of the Power Development Plan VIII; prepare the conditions for the re-initiation of the Ninh Thuan Nuclear Power Plant Project; call for investment in offshore wind power projects according to the approved Power Development Plan VIII; and complete the proposal for the construction of the Inter-regional Renewable Energy Industry and Services Center in Ninh Thuan Province.

Mr. Tran Quoc Nam, Chairman of the Provincial People’s Committee of Ninh Thuan, stated that the province considers linkage and cooperation to be of great importance in fostering good relationships with other provinces in promoting regional economic development, as well as in exploiting the potential and strengths of each locality. It also establishes a legal framework and creates mechanisms for agencies and businesses in the provinces to implement specific programs and projects. At the same time, through cooperation, the capacity and qualifications of the provincial officials are gradually improved, contributing positively to regional and national economic integration.