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Many EU businesses remain optimistic about the business environment in Vietnam

Tuesday - 10/07/2018 21:09
Although still worried about the law, most European businesses in Vietnam are generally optimistic about the business environment in Vietnam.
According to the latest survey of the European Business Association (EuroCham) in the business environment index of the first quarter of 2018, the European business enterprises or their relations with Europe in Vietnam Still relatively optimistic about the business environment in Vietnam although not as high as 2016.

Specifically, compared with the previous quarter, the units rated the business environment as "excellent" reduced to 10%. Rather, the "good" units increased by 7%. The number of "negative" reviews has not changed much.

In general, most members of EuroCham are confident of stabilizing and further improving the macro economy in Vietnam with a 9% increase. The number of businesses thinking that the macro economy may continue to deteriorate is equal to that of the previous quarter.

In terms of inflation in the first quarter of 2018, only 1% of respondents said that inflation would threaten the business of their business. Consequently, representatives surveyed dispelled fears of inflation.

In terms of labor force, the number of enterprises that want to maintain their workforce remains at 40%. While 12% plan to recruit more, 41% recruit a little more.

Businesses expressed the desire to reduce the number of employees "reduced slightly" from 10% to 5% and "sharply" from 3% to 2%.

45% of EuroCham members want to maintain their current investment, with the number of members expected to increase strongly, down 7% from the previous quarter and 11% in the number of enterprises. want to increase the investment capital.

Evaluating the development of law in Vietnam last year, 37% said nothing changed, 25% said they improved somewhat and 2% saw improvements. Negative feedback included 16% of legal comments becoming increasingly complex, 18% believing that last year the law was making big and complex changes to the business.

Nicolas Audier, co-chairman of EuroCham, said the survey showed optimistic expectations from European businesses for Vietnam, however, were not as high as in 2016.

EuroCham hopes in the coming time, the Government of Vietnam will promote the impetus for further improving the business environment, especially the legal changes, fulfilling the commitments to the Trade Agreement. EU-Vietnam Free Trade Agreement (EVFTA) promises to be effective in 2018.

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