European firms remain optimistic about business situation in Vietnam
European companies have shown their optimism about their business activities in Vietnam in both the third and fourth quarters, as seen in the Business Climate Index released by the EuroCham on November 6.
The Business Climate Index for Q3 stood at 81 points, the second highest level since late 2016 (Photo: VNA)
HCM City (VNA) – European companies have shown theiroptimism about their business activities in Vietnam in both the third andfourth quarters, as seen in the Business Climate Index (BCI) released by theEuropean Chamber of Commerce in Vietnam (EuroCham) on November 6.
The BCI for Q3 stood at 81 points, the secondhighest level since late 2016.
EuroCham said despite a slight BIC decline fromQ2, when the index hit an 18-month high, European firms’ sentiment in Q3remained positive, reflecting their confidence in Vietnam’s trade andinvestment environment.
EuroCham member businesses reported good performancebetween July and September, with 57 percent describing it as “good” and 10percent as “excellent”. Only 8 percent gave negative responses.
Regarding their outlook for Q4, the respondentsremain optimistic with nearly 60 percent believing that their businesssituation will be “good” and another 11 percent answering “excellent”.
In the survey, more than 50 percent of theinterviewed firms said they will expand their workforce in Q4. The same rate ofEuropean companies said they will increase investment this quarter with 40.9percent anticipating a “moderate increase” and 10.8 percent expecting a“significant increase”. Only 6 percent plan a reduction in their investment.
EuroCham Co-Chairman Nicolas Audier saidEuropean investors now want to enter the Vietnamese market and expect theratification of the EU-Vietnam Free Trade Agreement. Therefore, EuroCham willcontinue working to promote the ratification of this historic deal andencourage trade and investment activities of European businesses inVietnam.-VNA
The central city of Da Nang has been compiling simplified investment procedures to support European businesses with more transparency and a reduction in informal charges.
Vietnam gained 84 points for the second quarter of 2018 in the Business Climate Index (BCI), up 6 points from the previous quarter, according to new data from the BCI survey released by the European Chamber of Commerce in Vietnam (EuroCham) on October 4.
European businesses expressed their support for the signing and ratification of a free trade agreement between the European Union (EU) and Vietnam (EVFTA) at a conference on October 8.
The European Parliament (EP)'s Committee on International Trade (INTA) on October 10 held an opening hearing on the Free Trade Agreement (FTA) and the Investment Protection Agreement (IPA) between Vietnam and the European Union (EU).
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
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Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
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Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
The Business Climate Index for Q3 stood at 81 points, the second highest level since late 2016 (Photo: VNA) 
