Labourers working at Global Dynamics Mechanical Co., Ltd in Giang Dien industrial park, Trang Bom district, Dong Nai province. (Photo: VNA)The index shows that Vietnam's economic growth boosts the optimism of European businesses. It isalso evidence of increased strong confidence in the Vietnamese economy among European businesses operating in the SoutheastAsian country.
“This positive trend underscores the European businesscommunity’s view of Vietnam as a dynamic market with promising growth prospects,” said EuroCham Chairman Dominik Meichle.
According to him, the index once again risingabove the 50 threshold reaffirms the country’s growing appeal. Continuedefforts to enhance stability and predictability will further strengthenVietnam’s global competitiveness and unlock its full potential, he said.
Meanwhile, Thue Quist Thomasen, CEO of Decision Lab - the unit that conductedthe BCI survey, said the hard data from the BCIpaints a clear picture – investor optimism is steadily improving. Vietnam certainly has the capacity to become the region’s preeminent investment destination. Proactive and investor-focused policies will further accelerate its rise, he said.
European businessesexpress optimism about Vietnam’s economy, both in the near and long term. While a third of businesses feel optimistic about their individual Q2 outlooks, nearly 40% are neutral, over half of respondents anticipate higher orders and revenues in Q2, the index indicates.
Looking to the long term, this optimism strengthens, with 71% ofbusinesses feeling positive about their long-term prospects in Vietnam over thenext five years.
Vietnam’s skilled workforce is a major draw forEuropean investors, with 75% of EuroCham members hiring 76% or more of theirstaff locally, according to the report.
The quarterly BCI serves as a vital tool forunderstanding the perceptions of European and Europe-related companies andinvestors in the Vietnamese market. Conducted since 2011, the BCI collectsfeedback from EuroCham Vietnam’s extensive network of 1,400 members across adiverse range of sectors. This survey provides valuable insights into thecurrent business landscape in Vietnam and offers a glimpse into futureexpectations./.
VNA
