Vietnam is the second most listed location for business expansion in ASEAN, according to a survey results released on August 28 by the US Chamber of Commerce and the American Chamber of Commerce in Singapore (AmCham Singapore).

The poll was conducted from May 5 to June 5 with 588 senior executives representing US companies in all ten ASEAN countries, including 77 in Vietnam.

As many as 37 percent of respondents region-wide reported that their companies had plans for future business expansion in Vietnam, only after Indonesia with 41 percent.

More than half, 57 percent, of respondents in Vietnam expect their workforce to increase in 2014, 66 percent hope for a profit increase this year and 82 percent believe in a profit increase next year.

The American senior executives pointed to some strengths of Vietnam, including positive sentiments toward the US (66 percent), the availability of low cost labour (61 percent), the level of personal security (61 percent), and stable government and political system (60 percent).

Respondents indicated dissatisfaction about laws and regulations (49 percent), infrastructure and tax structure of Vietnam (48 percent).-VNA