Vietnam - second most listed location for business expansion in ASEAN
Vietnam is the second most listed location for business expansion in ASEAN, according to a survey results released on August 28 by the US Chamber of Commerce and the American Chamber of Commerce in Singapore (AmCham Singapore).
The poll was conducted from May 5 to June 5 with 588 senior executives representing US companies in all ten ASEAN countries, including 77 in Vietnam.
As many as 37% of respondents region-wide reported that their companies had plans for future business expansion in Vietnam, only after Indonesia with 41%.
More than half, 57%, of respondents in Vietnam expect their workforce to increase in 2014, 66% hope for a profit increase this year and 82% believe in a profit increase next year.
The American senior executives pointed to some strengths of Vietnam, including positive sentiments toward the US (66%), the availability of low cost labour (61 percent), the level of personal security (61%), and stable government and political system (60%).
Respondents indicated dissatisfaction about laws and regulations (49%), infrastructure and tax structure of Vietnam (48%).