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European businesses trust the business environment in Vietnam

Date posted: 15/ 10/ 2018 - The poster: admin

The Business Environment Index (BCI) survey released by the European Business Association (EuroCham) showed optimism in Vietnam, showing six BCI rises.

Business Environment Index (BCI) increased

According to EuroCham, the results of EuroCham’s Doing Business Survey (BCI) conducted by Q2 / 2018 show the optimism of the member business community price of business situation in Vietnam. This optimism is reflected in 6 levels of BCI increase compared to Q1 / 2018.

This is also the most positive assessment from the business community in Europe in the past 18 months and only two grades lower than the highest in the third quarter of 2016.

Via feedback, the business community of EuroCham is also optimistic about business prospects, based on various aspects such as investment plans, sales forecasts or recruitment plans, and macroeconomic conditions. of Vietnam. 70% of surveyed companies responded to their business results last quarter. Specifically, 65% responded ‘Good’, 12% replied ‘Excellent’. When surveying businesses about future business forecasts, 64% responded ‘good’ and 15% replied ‘Excellent’.

Commenting on the results of the BCI survey in the second quarter of 2018, Nicolas Audier, co-chairman of EuroCham, said: “These indicators again show that European businesses and investors still believe in the business environment. in Vietnam. EuroCham has reached the 1,000-member mark – becoming one of the largest foreign business associations in Asia, reinforcing this positive message and showing that Vietnam is an attractive trade and investment destination. With European as well as international investors. ”

EuroCham members are also optimistic about the macroeconomic outlook, while surveying macroeconomic expectations for the next quarter, 57% responded “Stability and improvement”, 34% “No change” only 10% “downturn”.

Meanwhile, more than half (57%) of respondents said that they would ‘significantly increase’ and ‘slightly increase’ their workforce. These indicators correspond to the intention to increase investment, as 61% of respondents ‘increased significantly’ and ‘slightly increased’. More than two thirds of survey respondents (76%) predicted that their business results, reflected by the number of orders and sales, would increase slightly and “significantly”.

Enhance corporate social responsibility

The first time EuroCham surveyed the member business community on Corporate Social Responsibility (CSR). Nearly all businesses recognize that CSR is important to their business operations in Vietnam. Key drivers for CSR-driven businesses are ‘brand credibility’ and ‘customer and environmental concerns’.

Mr Nicolas Audier added: “Our survey results also show that European businesses are moving towards sustainable development. 90% of surveyed member firms respond to CSR as important to their business, emphasizing long-term commitment to the country and people in Vietnam.

This information comes at a crucial time for EU-Vietnam relations, the EU-Vietnam Free Trade Area (EVFTA) is expected to be ratified soon. We hope that from this positive message of EuroCham and its members, the Government of Vietnam will continue to improve the investment and trade environment and increase market access for foreign investors. ”

Since its establishment with 60 members in 1998, EuroCham has grown to over 1,000 members, including some of the world’s leading companies. With offices in both Hanoi and HCMC. The mission of EuroCham is to represent the business interests of its members and to contribute to the improvement of the investment and trade environment in Viet Nam. Vietnam.

Through EuroCham’s Doing Business Environment Survey, EuroCham follows the evaluation of European businesses operating in Vietnam from 2010. BCI provides up-to-date information and assessment of member firms on business environment every quarter. Through this survey, EuroCham members give their views on the situation and business prospects in Vietnam.

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