EuroCham: Vietnam's economic growth boosts European businesses’ confidence
The European Chamber of Commerce Vietnam (EuroCham) on April 8 released the Business Confidence Index (BCI) for the first quarter of 2024, saying that the index reached 52.8 points - the highest level since 2022.
Labourers working at Global Dynamics Mechanical Co., Ltd in Giang Dien industrial park, Trang Bom district, Dong Nai province. (Photo: VNA)
HCM City, (VNA) – The European Chamber of Commerce Vietnam(EuroCham) on April 8 released the Business Confidence Index (BCI) for the firstquarter of 2024, saying that the index reached 52.8 points - the highest level since 2022.
The index shows that Vietnam's economic growth boosts the optimism of European businesses. It isalso evidence of increased strong confidence in the Vietnamese economy among European businesses operating in the SoutheastAsian country.
“This positive trend underscores the European businesscommunity’s view of Vietnam as a dynamic market with promising growth prospects,” said EuroCham Chairman Dominik Meichle.
According to him, the index once again risingabove the 50 threshold reaffirms the country’s growing appeal. Continuedefforts to enhance stability and predictability will further strengthenVietnam’s global competitiveness and unlock its full potential, he said.
Meanwhile, Thue Quist Thomasen, CEO of Decision Lab - the unit that conductedthe BCI survey, said the hard data from the BCIpaints a clear picture – investor optimism is steadily improving. Vietnam certainly has the capacity to become the region’s preeminent investment destination. Proactive and investor-focused policies will further accelerate its rise, he said.
European businessesexpress optimism about Vietnam’s economy, both in the near and long term. While a third of businesses feel optimistic about their individual Q2 outlooks, nearly 40% are neutral, over half of respondents anticipate higher orders and revenues in Q2, the index indicates.
Looking to the long term, this optimism strengthens, with 71% ofbusinesses feeling positive about their long-term prospects in Vietnam over thenext five years.
Vietnam’s skilled workforce is a major draw forEuropean investors, with 75% of EuroCham members hiring 76% or more of theirstaff locally, according to the report.
The quarterly BCI serves as a vital tool forunderstanding the perceptions of European and Europe-related companies andinvestors in the Vietnamese market. Conducted since 2011, the BCI collectsfeedback from EuroCham Vietnam’s extensive network of 1,400 members across adiverse range of sectors. This survey provides valuable insights into thecurrent business landscape in Vietnam and offers a glimpse into futureexpectations./.
Vietnam has become one of the leading countries in Southeast Asia in attracting foreign direct investment (FDI), according to an article published on September 21 on the website gfmag.com of Global Finance Magazine.
The European Chamber of Commerce Vietnam (EuroCham) announced on October 9 its Business Confidence Index (BCI) for the third quarter of 2023, showing that the BCI has regained its upward trajectory in the period, which offers a glimmer of hope for the Vietnamese business environment after a turbulent year.
The attraction of large foreign direct investment (FDI) inflows from the US and Europe, especially into industries with high added value such as manufacturing, technology and pharmaceuticals, is a positive signal about Vietnam’s economic development and international cooperation as well as the country's efforts in improving its position on the global value chain, according to Savills Vietnam experts.
Industrial land rents are expected to increase by up to 10% in the next two years in both the north and south thanks to growing demand from various industries, experts have said.
Confidence among the European businesses operating in Vietnam is showing signs of resilience as the latest Business Confidence (BCI) from the European Chamber of Commerce in Vietnam (EuroCham), conducted by Decision Lab, reached 46.3 points in the fourth quarter of 2023.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Labourers working at Global Dynamics Mechanical Co., Ltd in Giang Dien industrial park, Trang Bom district, Dong Nai province. (Photo: VNA) 
