Businesses optimistic about Vietnam’s economic outlook

Businesses are optimistic about Vietnam’s economic outlook over the next 12 months, a recent survey by Grant Thorton Vietnam reveals.
Businesses are optimistic about Vietnam’s economic outlook over the next12 months, a recent survey by Grant Thorton Vietnam reveals.

Conducted in the fourth quarter of 2013, the 10th biannual survey,“Private Equity in Vietnam – Investment Sentiment and Outlook”, is basedon responses by decision makers working in the private equity sector inVietnam.

Up to 43 percent of the respondents had bright views onVietnam’s economic prospects. The figure stood at 34 percent, 16percent and 27 percent in Q2 and Q4 of 2012 and this year’s Q2,respectively.

The survey also shows a sharp decline in negativeoutlook to 13 percent this time, from 27 percent, 51 percent and 31percent in the last respective quarters.

In particular, 46percent of the respondents said they plan to increase their investmentin the country, while another 44 percent will maintain the currentlevel.

According to the Foreign Investment Agency under theMinistry of Planning and Investment, Vietnam attracted 19.234 billionUSD of newly registered and added capital in the last 10 months, ayearly rise of 65.5 percent.

Such results are believed to indicate that investors have regained their confidence.

Nonetheless, investors are still concerned about business obstacles inVietnam. Up to 88 percent of them considered corruption to be thegreatest hindrance to their investment.

Meanwhile, red tape andcumbersome procedures are viewed as the second constraint by 76 percentof the respondents. These problems cause difficulties for not onlybusinesses but also the Government’s efforts against corruption.

The survey also looks into such issues as investment allocation,hands-on involvement with portfolio companies, and key factors to beconsidered when investing.-VNA

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