European businesses upbeat about Vietnamese market
A poll carried out by EuroCham showed that Vietnam’s business climate index in the third quarter of 2016 went up ten points from the previous quarter to 84 points.
Producing woodwork products for export (Illustrative photo: VNA)
HCM City (VNA) – A poll cꦰarried out by the European Chamber of Commerce in Vietnam (EuroCham) showed that Vietnam’s business climate index in the third quarter of 2016 went up ten points from the p🧸revious quarter to 84 points.
71.5 percent of participating European firms described their current operation as “excellent” and “good”, only 5.5 percent rated “not good” and a very few said “very bad”.
The majority of responded European enterprises acknowledged that the country’s macroeconomic stability is likely to continue, with nearly 60 percent of respondents forecasting “stabilisation and improvement”.
Approximately 41 percent of polled firms said to maintain their current investment level in Vietnam, while 39 percent planned to pour more money into the market.
EuroCham Chairman Michael Behrens said the index reflected EuroCham enterprises’ positive outlook for Vietnam, which is a good sign for the implementation of the European Union-Vietnam free trade agreement (EUVFTA).-VNA
EuroCham in Vietnam has committed to intensifying its activities in 2016, in order to boost investment and trade links between Vietnamese businesses and those from the European Union member states.
EuroCham released the Business Climate Index for Q2 on July 21, which is posted at 77 indicating positive sentiment from EuroCham members on the local business environment.
European Union enterprises have indicated positive sentiment on the business environment in Vietnam, with many of them planning to increase investment.
The European – Vietnam Free Trade Agreement (EVFTA) would promote the flow of high-quality investments from the EU into the country with commitments on goods and services market access.
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.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
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.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
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.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Producing woodwork products for export (Illustrative photo: VNA)
