European business leaders remain cautious, but see signs of improvement in Vietnam's economy, according to the latest Business Climate Index (BCI) report released by the European Chamber of Commerce in Vietnam (EuroCham) and produced by Decision Lab.
Although external factors reduces Vietnam's growth potential, European businesses in Vietnam still believe in the prospects of this market, especially green development.
43 per cent of European companies in Vietnam plan to increase their investment in the first quarter of 2022, 2.5 times as high as the figure of the third quarter of 2021.
Many big European businesses revealed its expansion plan in Vietnam, showing that Vietnam plays a crucial part in their production and consumption markets.
European business leaders in Vietnam are more optimistic about the country’s business environment following the ending of lockdowns and the ‘new normal’ of post-pandemic trade and investment.
Vietnam’s economy will experience the gradual rebound in the next six months before booming again in the second half of 2022.
It is important that Vietnam takes action now to maintain its regional and global competitiveness, and not lag in economic recovery, leading foreign business associations have claimed.
With a vaccine-led approach, Vietnam can repeat its achievements in economic growth.
Four in five European business leaders agree that businesses should be able to inoculate their workforce, reducing the burden on the state budget while also helping to accelerate the government’s vaccination drive.
European business leaders ended 2020 more optimistic about Vietnam’s trade and investment environment than at any point since the outbreak of Covid-19, according to the Business Climate Index (BCI) from the European Chamber of Commerce.