return icon Vietnamnet.vn

EU firms show optimism about Vietnam’s business climate in 2021

The latest Business Climate Index (BCI) unveiled by the European Chamber of Commerce (EuroCham) in Vietnam on February 3 indicates that EU companies in Vietnam ended 2020 with overall optimistic view about the country's’s business climate.

EU firms show optimism about Vietnam’s business climate in 2021 hinh anh 1

The latest Business Climate Index (BCI) by the European Chamber of Commerce (EuroCham) in Vietnam indicates that EU companies in Vietnam ended 2020 with overall optimistic view about the country’s business climate. Illustrative photo. 

 

The BCI picked up 6 points in the fourth quarter of 2020 to reach 63.6 percentage points for the whole year, the highest since the outset of COVID-19. The index stood at a record low of 27 percentage points in the first quarter of last year, following the first wave of COVID-19 in Vietnam.

The BCI steadily grew throughout the year as the result of Vietnam’s successful containment of the novel coronavirus and the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA) which took effect in August. The two factors have improved confidence in local economy and boost business activities.

According to the BCI report, about 57 percent of surveyed EuroCham members believed the Vietnamese economy is likely to stabilise and improve in the first quarter of 2021, compared to 39 percent in the third quarter of last year.

A more optimistic sentiment is also seen among European business leaders compared to the last three month of 2020. One third of the surveyed company members forecast that the number of their employees would increase in this quarter while 57 percent planned to maintain the same level of headcount. Some 30 percent believed investment is likely to expand and 43 percent expected increases in the volume and revenue of orders.

Some 70 percent said they have benefited from the EVFTA since the trade deal entered into force last year. About 33 percent, however, said public administrative procedures are likely to be their biggest obstacle to maximize advantages from the pact.

EuroCham Chairman Nicolas Audier said the latest BCI provides a positive outlook on Vietnam’s business climate and perspectives for 2021. Confidence of the business community on the economy has been strengthened over the last year, showing the Vietnamese government’s swift response to COVID-19 and promotion of the EVFTA, he said, adding that these would lay basis for the country’s economic growth over the next five years.

European business leaders expect growth in both investment and trade brought about by the EVFTA, he continued, they also expect that several barriers would be removed to ensure the smooth and successful implementation of the trade deal./.VNA

Digital transformation in Vietnam will be accelerated thanks to EVFTA

Digital transformation in Vietnam will be accelerated thanks to EVFTA

Experts believe that EVFTA will be an opportunity for Vietnam to speed up digital transformation, but say Vietnam needs to change its mindset.

MORE NEWS

More foreign visitors to HCMC signals thriving tourist season

Roughly 100 French, American, German tourists traveled to Ho Chi Minh City on French Le Laperouse yacht of Ponant after the last visit in mid-November 2019 signaling a thriving tourist season.

First monkeypox infection detected in HCM City

The Ho Chi Minh City Department of Health has just announced the first reported case of monkeypox in Vietnam.

VIETNAM BUSINESS NEWS OCTOBER 3

2.97 billion USD in FDI poured into HCM City in 9 months

Trendy jobs in Vietnam

New and fashionable professions are being pursued by many young people. But not everyone is succeeding.

Shooting star targets bright future

After the retirement of senior champions, the Vietnam shooting team is now relying on its younger athletes, such as 18-year-old Phi Thanh Thao, who was recently nominated as Best Young Athlete of 2022 at the prestigious Victory Cup.

Hanoi needs world-class entertainment sites to lure tourists

According to experts, the lack of world-class amusement and entertainment zones is a big "hole" in Hanoi's tourism.

HCM City tightens management of food labelled 'organic'

Many families choose organic food though recently several supermarkets and e-commerce platforms had to apologise to consumers after non-organic food was labelled and sold as organic.

Vietnam win ticket to 2022 Futsal Asian Cup quarterfinals

Despite their defeat in the match against Japan on October 2, Vietnam’s national futsal team will advance to the quarterfinals in the 2022 Futsal Asian Cup as it ranked second in Group D.

Many parts of Vietnam saw increased fertility rates during pandemic

Fertility rates over the past two years increased across many localities in Vietnam, and it was even higher than the total replacement birth rate, said Director General of the General Department of Population and Family Planning Nguyen Doan Tu.

HCMC plans to eliminate 20,000 slum areas by 2025

According to the Ho Chi Minh City Department of Construction, over the past 20 years, the city has removed 36,000 slum areas along canals, but there are still about 20,000 of them.

Vietnam to have 33 new highways by 2030

With 33 highway projects totaling nearly 3,000 km long planned for construction in 2021-2030, a decade of busy expressway building is expected.

Viettel, VNPT lead Vietnam’s Top 10 most valuable brands

Four telecommunications brands of Vietnam have a total value of 13,136 million USD.

Floods kill eight in Nghe An, Ha Tinh

Heavy downpours and floods in the north central region claimed the lives of eight people in Nghe An and Ha Tinh provinces as of 5:30pm on October 2.

Localities urged to rectify flaws in fishery sector

With the visit of the European Commission’s delegations ahead, Vietnam’s ports and fishers are aiming to remedy the previously criticised issues regarding international fishing regulations.

Market likely to continue to correct this week

Analysts said that in the current environment, financial markets will be very likely to continue revaluing.
back_to_top