The Hanoi People’s Committee and the Vietnam Chamber of Commerce and Industry (VCCI) on November 7 signed a cooperation agreement to raise the city’s provincial competitiveness index (PCI) rankings.

Speaking at the signing ceremony, VCCI Deputy President Pham Gia Tuc spoke highly of the city’s determination and effort in boosting its PCI, saying that his agency will work closely with Hanoi to attract more investment, thus further promoting the city’s development.

However, Tuc also noted that the two sides need to define specific plans such as holding workshops and conferences to collect opinions for improving the index.

Vice Chairman of the Municipal People’s Committee Nguyen Van Suu said the signing will create favourable conditions for Hanoi to improve the environment for investment, production and business to quickly raise its PCI.

The city’s leaders always consider this as an important task, which was included into its action plans in following years, Suu added.

According to a survey conducted by the VCCI, the city ranked 51 st out of the country’s 63 provinces and cities last year, 15 places lower than its PCI position in 2011.

The PCI programme is part of the US Agency for International Development’s Vietnam Competitiveness Initiative, which has been implemented since 2005. All 63 provinces and cities have used the PCI to devise their own economic policies and development strategies.-VNA