The northern province of Thai Nguyen aims to become one of the localities with the best investment environment in the country by 2020.

The province aims to enter and maintain its top 10 ranking in the Provincial Competitiveness Index (PCI), with an annual average economic growth of 10 per cent, industrial production expansion of 15 per cent and per capVietnamita average income of VND86 million (US$3,775).

According to Hoang Thai Cuong, director of the provincial Department of Planning and Investment, to improve the investment environment and increase provincial competitiveness, authorities have stepped up administrative reforms and publicised socio-economic development plans, especially regarding urban development, transport, industrial areas and tourism.

Apart from offering investment incentives, the province has worked to cut the time spent on administrative procedures, he said.

Besides, the province has used science and technology to build an e-government system and implement a one-stop-shop model for investment licences.

Planning schemes on transport connectivity and technical infrastructure investment for large-scale projects have also been revised, Cuong said.

The province hopes to improve the quality of human resources and vocational training and encourage investment in agriculture, he added.

The investment climate and competitiveness index of Thai Nguyen have improved significantly over the past five years, helping boost the annual economic growth to 16.5 per cent and generating jobs for some 23,800 workers.

The per capita average income of the province in 2017 was estimated at VND68 million, while the total import-export turnover reached $37.5 billion, up 44 times against 2013.

Thai Nguyen was among the top 10 cities and provinces nationwide in PCI in 2014 and 2016. In 2017, it ranked 15th out of 63 cities and provinces. — VNS