EuroCham finds rising confidence among European businesses in Vietnam
09 Apr 24 1 min read
Insights
- The European Chamber of Commerce (EuroCham) Vietnam's latest business confidence index reached 52.8 in Q1 2024, its highest since Q3 2022, clearly indicating rising confidence among European businesses operating in the economy.
- Seventy-one per cent of European businesses feel positive about their long-term prospects in Vietnam over the next five years.
The quarterly index reached 52.8 in the first quarter (Q1) this year, its highest since the third quarter in 2022.
"This positive trend underscores the European business community's view of Vietnam as a dynamic market with promising growth prospects," said EuroCham chairman Dominik Meichle.
"The index once again rising above the 50 threshold reaffirms the country's growing appeal. Continued efforts to enhance stability and predictability will further strengthen Vietnam's global competitiveness and unlock its full potential," he was quoted as saying in a release by the chamber.
Fifty-four per cent of European businesses surveyed indicated a high likelihood of recommending the country as a top investment destination to other foreign businesses, giving ratings of 8 or above out of 10.
Seventy-one per cent of European businesses feel positive about their long-term prospects in Vietnam over the next five years.
Fibre2Fashion News Desk (DS)
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