European firms stay positive on Vietnam’s business climate

The Business Climate Index (BCI) for  the first quarter of this year released by the European Chamber of Commerce in Vietnam (EuroCham) on May 29 showed European firms’ positive expectations towards Vietnam.

Illustrative photo

Illustrative photo

The index hit 78, seven points below the fourth quarter of 2016, but this does not mean that businesses are under alert or will not continue to explore such a high-potential economy as Vietnam, said EuroCham Chairman Jens Ruebbert. 

The survey showed most businesses (90 percent) are either maintaining or increasing their investments in Vietnam, adding that inflation is no longer a concern for them.

It also indicated about 67 percent of respondents described the business situation in Vietnam as “very good” or “good”.

In addition, about 20 percent of EuroCham members believed regulatory reform has improved.

According to Ruebbert, enterprises also expressed their wish for more transparency, competitiveness, sustainability and a better trained workforce

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