Today: 12/04/2021 12:45:14 (GMT+7)

European enterprises more optimistic about doing business in Vietnam

The latest Business Climate Index (BCI) survey released by the European Chamber of Commerce in Vietnam (EuroCham) showed that the index rose slightly from 33.6 percentage points in May to 34.4 percentage points in the second quarter of 2020, reflecting the more optimistic sentiment among European enterprises on the recovery of the Vietnamese market.

Previously, this index fell to its lowest level in the fourth quarter of 2019 at 27 percentage points and then increased to 33.6 percentage points in May.

European enterprises, more optimistic, doing business, Vietnam, latest Business Climate Index, optimistic sentiment, Vietnamese market

About 24% of European enterprises are seeing positive improvements in their performance.

In the second quarter of this year, business activities of enterprises were better than expected as the Covid-19 situation came under control. Only 51% of the enterprises said that their performance was negative in the second quarter, compared to 74% in the first quarter.

Notably, about 24% of enterprises are seeing positive improvements in their performance, signaling a gradual return to normal.

The survey also reveals that about a quarter of enterprises expected to see an increase in their orders for the next quarter. The optimism will hopefully serve as a driver for growth in Vietnam’s business environment in the third quarter of this year.

European enterprises are still exercising caution in their investment and headcount plans. Around 46% of European enterprises plan to keep the same headcount level for the next quarter while 45% of them are planning to reduce their future investment plans.

EuroCham Chairman Nicolas Audier said that optimism has returned and improved among the business community as the second quarter's business results were better than predicted, thanks to the control of the first wave of the Covid-19 pandemic. However, business leaders are becoming more cautious about their business prospects in the next quarter.

"Global trade will be unpredictable in the short term, but we believe that the EU-Vietnam Free Trade Agreement (EVFTA) and the operations of the European business bloc in Vietnam will be factors driving Vietnam's economy in the long term," said the EuroCham chairman.

Over 98.5 percent of enterprises pay tax via bank system
(BGO) – According to Bac Giang provincial Taxation Department, the province has 6,145 operating enterprises, 6,054 of which completed the linkage of electronic tax payment between taxation sector and commercial banks, accounting for over 98.5 percent, up nearly 200 businesses comparing to the figure at the end stage of last year.
Bac Giang’s Public Security Department talks to enterprises: making joint efforts to ensure security, social order
(BGO)- As luring a large number of labourers from other provinces in line with “booming” of the services, security and social order in some industrial parks see complicated happenings. In order to solve this issue, the provincial Public Security Department in northern province of Bac Giang on 11 July held a dialogue with the enterprises.
Bac Giang helps enterprises affected by Covid-19 surmount financial difficulties
(BGO)- The commercial banks have accompanied and removed loan obstacles for many enterprises affected by Covid-19 pandemic. A number of enterprises in Bac Giang have been charged off, rescheduled loan repayment and reduced loan interest rates, thereby gradually recovering and stabilizing their business and production. 
Industrial production value of Bac Giang’s FDI enterprises hit over 99 trillion VND in 6 months
(BGO) – According to the Department of Industry and Trade (DoIT) in Bac Giang province, the industrial production value (IPV) (actual) in the first six months of this year is estimated at 115 trillion VND (4.9 billion USD), up 10 percent comparing to the same period last year.         
Bac Giang’s FDI enterprises recover after Covid-19 pandemic
(BGO) – Due to the impact of Covid-19 pandemic, many foreign direct investment (FDI) enterprises in Bac Giang province have recently suspended or stopped the operation and business activities. For nearly one month when the pandemic is well controlled, the companies have regained the production and business as a good signal for the provincial economic growth.  

Source: NDO

European enterprises, more optimistic, doing business, Vietnam, latest Business Climate Index, optimistic sentiment, Vietnamese market
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