The report shows that in the first quarter of 2022, BCI increased by 73 percentage points, reaching the highest level since the fourth outbreak. This number increased by 12 percentage points compared to the fourth quarter of 2021, in addition to an increase of nearly 58 points compared to the third quarter.

BCI is a periodic report that consults with more than 1,200 European investors and business leaders who are EuroCham members from all sectors of the economy, providing quarterly updates on the environmental assessment. Vietnam’s trade and investment as well as making forecasts on the business prospects of companies. This research has been conducted since 2013 and conducted by YouGov Vietnam since 2020.

According to the EuroCham report, European business leaders are now more optimistic, with Vietnam loosening anti-epidemic regulations and continuing to recover and develop its economy. BCI is likely to maintain this upward trend in the next quarter, with a more upbeat business outlook.

EuroCham also noted that European business leaders have positive forecasts for the future growth of the Vietnamese economy. More than two-thirds of respondents believe that the Vietnamese economy is likely to stabilize and improve in the second quarter of 2022, while in the fourth quarter of 2021 only 58% have positive predictions. This is far ahead of the 5% of survey respondents who predict a recession for the next quarter.

The European business community also indicates ambitious Q2 forecasts for their companies, especially when compared with Q1 forecasts. Nearly 66% of survey respondents expect revenue increased in the second quarter of the year, compared with 52% in the previous quarter. Likewise, more than 46% of respondents predict the number of employees will increase in the next quarter.

For the first time, BCI has surveyed enterprises’ assessment of Vietnam’s future green growth. More than 82% of respondents said that the outlook is positive about the potential for sustainable development, reflecting confidence in Vietnam’s green future.

Commenting on the BCI results, EuroCham President Alain Cany said that Vietnam’s economic recovery is happening quickly. According to him, Vietnam has the opportunity to attract a new wave of green, high-quality FDI from European investors looking for a safe and competitive investment destination.

“Given that BCI participants have expressed deep enthusiasm for Vietnam as a green growth investment destination, there is no better time than now to get up to speed in the sustainable development sector in Vietnam,” he said.

“To this end, green development will be the main theme of EuroCham’s activities throughout 2022, with the highlight being the Green Economy Forum and Exhibition (GEFE) 2022. GEFE 2022 will be a platform for exchange and participation among relevant individuals and organizations, the business community and government agencies from both Europe and Vietnam.”

Source: Saigon Times