EU enterprises positive on Vietnam’s business climate
European Union enterprises have indicated positive sentiment on the business environment in Vietnam, with many of them planning to increase investment.
Hanoi (VNA) – Eurꦗopean Union enterprises have indicated positive sentiment on the business environment in Vietnam, with many of them planning to increase investment, according to a Business Climate Index (BCI) survey for quarter 2, 2016, conducted by the European Chamber of Commerce in Vietnam (EuroCham).
Accordingly, the majority of European enterprises acknowledged that the country’s macroeconomic stability will likely continue, with 56.3 percent of respondents forcasting “stabilisation and improvement” and just 9.4 percent of respondents expecting deterioration .
The chamber revealed that about 49 percent of the respondents expect the number of orders or revenue to increase slightly in the next quarter. 15.6 percent of them were even more optimistic. Therefore, when they were asked about investment and personnel development plans, responses were also positive, consistent with the expected business orders.
The trend is considered as a good sign for the implementation of the European Union-Vietnam free trade agreement (EUVFTA), that is expected to boost business and investment activities by foreign enterprises in Vietnam.
Statistics from the Ministry of Industry and Trade (MoTT) showed that two-way trade between Vietnam and the EU reached 21.2 billion USD in the first seven months of this year, up 9.05 percent compared the same period last year. Of this figure, Vietnam shipped 16.2 billion USD worth of goods to the EU, a year on year increase of 8.68 percent while importing over 4.97 billion USD worth of goods, up 10.28 percent against the same period in 2015.
Tran Ngoc Quan, deputy head of the EU Market Department under the MoTT said in the country’s export strategy to 2020, with a vision to 2030, the EU is considered one of the key trade and economic development partners, but in order to make the most of the preferential treatment offered from the EUVFTA, the local business community should take the initiative on all spheres, including market orientation, partnerships, manufacturing renovation and business culture.-VNA
Enterprises operating in the processing and manufacturing sectors are optimistic about growth in export orders for 2016, Cong Thuong ( Commerce and Industry) newspaper reported on January 11.
Foreign experts are positive about Vietnam’s reforms and open-door policy, suggesting that the country should seize opportunities to become a major Asian export hub.
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.
Illustrative Image (Photo:VNA)
