Vietnamese firms are mostly optimistic about their business results for 2017, driven by the improved macro-economy coupled with Government efforts to improve the business climate and remove obstacles.

A survey by the General Statistics Office amongmanufacturing and processing firms found that 81 per cent of respondents expected stable or better business results this year.

A previous survey by Vietnam Report among the 500 largest enterprises in Viet Nam found they were all optimistic about revenue, profit and overall business results for 2017.

Experts said business optimism would become a major driver for economic growth this year.

According to Le Duy Anh, general director of the furniture maker Xuan Hoa Joint Stock Company, said that business confidence was growing. “This is driven by the improved business climate and the Government’s dynamics in removing difficulties for businesses.

“2017 will be a better year for the overall economy with stable macro-economics and higher growth,” Duy Anh said, adding that his company expected to reach 20-per-cent growth compared to 2016.

Last year saw a record of 110,000 new firms registered, reflecting improved confidence in the economy two years after the amended laws on investment and business came into force.

Nguyen Anh Duong from the Central Institute for Economic Management said the Government was more active in undertaking dialogue with firms, listening to their difficulties and proposing solutions.

At the same time, the country’s rapid integration into the global economy was also providing significant opportunities for businesses, such as the participation in trade deals with the EU and the foundation of the ASEAN Economic Community. 

VNS