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36 percent of European businesses rank Vietnam among top five global investment destinations |
According to the Business Climate Index (BCI) report released by the European Chamber of Commerce in Vietnam (EuroCham) and Decision Lab on April 11, BCI measured the European business community’s perceptions of Vietnam’s business and investment environment remained stable at 48 points in the first quarter of 2023.
Although this index remained unchanged compared to the end of 2022, there are promising signs of a positive change in the economic outlook of the European business community as per the report. Encouragingly, the number of respondents who are optimistic about the national economy has increased by 8 points, showing increasing confidence in the economic outlook, and the number of respondents predicting an improvement in sales and orders rose 7 percent whereas the number of respondents anticipating an economic downturn declined 6 percent.
The survey results also show that, in general, one-third of the European business community and investors are satisfied with policy makers' level of attention to business needs in Vietnam (respondents expressed significant or moderate satisfaction). This positive response is a testament to the Government's unwavering commitment to promoting a business-friendly environment.
Vietnam is still a destination that strongly attracts foreign direct capital (FDI) in the eyes of European business leaders as 36 percent of respondents ranked Vietnam among the top five global investment destinations.
However, foreign enterprises in Vietnam are still struggling with problems such as a lack of transparency, ineffective administration, and difficulties in obtaining visas and work permits. Foreign manufacturers are facing complicated customs procedures.
