Vietnam’s business confidence index(BCI) in the second quarter increased 31 points over the first quarter,reaching 130 points, according to a recent survey.
The survey was conducted by the Vietnam World Vest Base FinancialIntelligence Services (WVB FISL) and the PetroVietnam FinanceInvestment and Consultancy Company (PVFC Invest), who surveyed 192companies in 11 key industries from June 11 through the first week ofJuly.
The result signaled recovery and positive growth for Vietnam’s economy in the near future.
When asked about the country’s economy, 53 per cent of thoseinterviewed said the overall economic conditions had improved comparedto 12 months ago and 75 per cent believed overall economic conditionswould be better over the next 12 months.
As many as 59 per cent expected to increase worker hire in thenext 12 months and 60 per cent thought their companies would investmore in fixed assets over the next 12 months.
In the survey, most CEOs, managing directors and business managersalso expressed the great confidence they had in their companies’revenues and profits for the next 12 months. Up to 81 per cent gavehigher sales projections while 72 per cent expected their profits wouldincrease.
All respondents also indicated they trusted the Government’s keymeasures to boost consumer demand, including reduction of consumer andcorporate loan interest rates, and wide dissemination of informationabout consumer demand stimulus policies.
However, 51 per cent of the interviewees said that interest rateson consumer loans from banks should be between 5 and 8 per cent to helpstimulate domestic consumer demand.
A total of 48 per cent of respondents were worried about thedepreciation of the Vietnamese dong against the US dollar, and forecastthat the rate between the two currencies would be more than 18,000 VNDper USD by the end of 2009.
When asked to make a forecast about the inflation rate over thenext 12 months, 42 per cent said they believed the inflation rate wouldbe between 5 and 10 per cent. Thirty per cent put it between 10 and 15per cent, only 9 per cent pulled it down to below 5 per cent, while 6per cent said it would be between 15 to 20 per cent./.
The survey was conducted by the Vietnam World Vest Base FinancialIntelligence Services (WVB FISL) and the PetroVietnam FinanceInvestment and Consultancy Company (PVFC Invest), who surveyed 192companies in 11 key industries from June 11 through the first week ofJuly.
The result signaled recovery and positive growth for Vietnam’s economy in the near future.
When asked about the country’s economy, 53 per cent of thoseinterviewed said the overall economic conditions had improved comparedto 12 months ago and 75 per cent believed overall economic conditionswould be better over the next 12 months.
As many as 59 per cent expected to increase worker hire in thenext 12 months and 60 per cent thought their companies would investmore in fixed assets over the next 12 months.
In the survey, most CEOs, managing directors and business managersalso expressed the great confidence they had in their companies’revenues and profits for the next 12 months. Up to 81 per cent gavehigher sales projections while 72 per cent expected their profits wouldincrease.
All respondents also indicated they trusted the Government’s keymeasures to boost consumer demand, including reduction of consumer andcorporate loan interest rates, and wide dissemination of informationabout consumer demand stimulus policies.
However, 51 per cent of the interviewees said that interest rateson consumer loans from banks should be between 5 and 8 per cent to helpstimulate domestic consumer demand.
A total of 48 per cent of respondents were worried about thedepreciation of the Vietnamese dong against the US dollar, and forecastthat the rate between the two currencies would be more than 18,000 VNDper USD by the end of 2009.
When asked to make a forecast about the inflation rate over thenext 12 months, 42 per cent said they believed the inflation rate wouldbe between 5 and 10 per cent. Thirty per cent put it between 10 and 15per cent, only 9 per cent pulled it down to below 5 per cent, while 6per cent said it would be between 15 to 20 per cent./.
