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Vietnam Today

European business confidence index released

Released at: 17:41, 08/08/2015

European business confidence index released

EuroCham survey determines investor sentiment in second quarter.

by Hoai An

Business confidence, prospects, and expectations for the future among European enterprises in Vietnam in the second quarter increased slightly in the first quarter of 2015, due to the signing of the EU - Vietnam Free Trade Agreement (EVFTA), according to a survey conducted by EuroCham.

Enterprises participating in the survey came from different industries with employee numbers from 50 to 500.

“We believe that the result is related to the conclusion of the negotiations over the EVFTA,” said Vice President of EuroCham, Mr. Michael Behrens.

Regarding Vietnam’s business environment, 57 per cent of respondent enterprises answered it was “Good”, a significant increase of 12 per cent compared to the first quarter. The response “Average” accounted for 27 per cent, while 11 per cent of respondents answered “Not Good”.

In human resources planning, 48 per cent of enterprises aimed to increase their employee numbers slightly while 35 per cent will maintain the current number. The results largely reflect the investment plans of enterprises. Forty-one per cent said they planned to increase their investment in Vietnam slightly, while about 39 per cent aimed to maintain their current level of investment.

Fifty-five per cent of enterprises expected that order numbers or revenue would increase slightly while 21 per cent did not expect any change. Respondents also forecast that inflation in the next six months would fall to 3.4 per cent.

Regarding the impact of the quality of internet connections on business activities, 47 per cent of enterprises said that their activities were significantly affected, with only 2 per cent reporting no interruptions and 13 per cent not being overly affected.

In term of the cost of an internet connection, about 49 per cent said it was reasonable, 30 per cent said that it is affordable, and only 5 per cent said it is expensive.

Seventy-two per cent of enterprises were willing to pay more for a better quality internet connection while 20 per cent said they do not want to pay more.

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