European businesses hopeful about long-term Vietnamese prospects
VOV.VN - Given the impact of the ongoing pandemic and its outbreak in several major Vietnamese hubs, European business leaders are looking ahead to the next quarter, according to the quarterly Business Climate Index (BCI) survey unveiled by the European Chamber of Commerce in Vietnam (EuroCham).
The report states that 56% of respondents remain hopeful with regard to the prospects for their business, with an expectation that their firm’s performance will either be maintained or improve.
The results of the survey also indicate that almost 80% of those who answered plan to maintain or increase staff numbers and investment, whilst more than half expect that they will maintain or increase their revenue.
Local enterprises must be wary following the second quarter due to what could potential be ahead, although the majority of businesses remain optimistic about their operations stabilising and subsequently improving.
According to the BCI survey, the EU-Vietnam Free Trade Agreement (EVFTA) represents a historic change in terms of Vietnam’s relations with the EU as it will serve to greatly boost trade and investment on both sides, whilst simultaneously helping the country to further integrate into the global economy and the wider international community.
Furthermore, 69% of business leaders currently have a concrete understanding of the EVFTA and its implications, while half of them believe that it is relevant to their own firm.
Most notably, approximately 61% of European business leaders based in Vietnam believe that the EVFTA has already had a beneficial impact on their enterprise.
The BCI also asks for opinions on the impact of COVID-19 vaccination availability during this quarter, with more than half of business leaders agreeing that their employees not being vaccinated this year will have a significantly negative impact on their operations.
Moreover, 44% of respondents have not yet been instructed or approached by authorities to start or prepare for vaccination.
By conducting the survey, EuroCham would like to collect the opinions of European business executives regarding their situations, which reflect the state of the country’s business environment, and help identify any potential changes occurring in the economic climate.
The survey is conducted using an online questionnaire which is scripted and managed by YouGov’s surveying and data management platform. The survey is sent out by email every quarter to 1,868 business leaders among representatives from over 1,000 EuroCham members.
