European firms optimistic about Vietnam’s business environment

Hanoi (VNA) – European companies expressed optimism about the business environment in Vietnam during a recent meeting with the press, Cong Thuong (Industry & Trade) newspaper reported.

The European Chamber of Commerce in Vietnam (EuroCham) revealed the positivity from a survey on Vietnam’s business environment in the fourth quarter of 2016.

Nearly 73 percent of European businesses were optimistic about their operations in Vietnam, and only 5.5 percent were pessimistic.

Up to 90 percent of companies said they will maintain or increase investment in the Southeast Asian country, while 56 percent said they plan to keep or increase the number of employees, and a mere 6.7 percent plan to reduce staff.

The European chamber has held various activities to encourage enterprises to invest in Vietnamese localities such as Buon Me Thuot in the Central Highlands province of Dak Lak and the northern port city of Hai Phong along with other Central Highlands provinces.

It established a branch in the central region to help businesses step up investment in Quang Nam, Da Nang and Thua Thien – Hue, and hopes to set up more branches in Hai Phong and other localities.

This year, the chamber will accelerate the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA) and clear up concerns raised by European firms, as well as host more dialogues between Vietnamese government representatives, ministries and agencies with European companies.

EuroCham expects the Vietnamese government to further improve the business environment and increase the competitiveness of the economy. 

The chamber will devises measures to help businesses implement the EVFTA.

EuroCham’s Whitebook 2017 highlighting issues relevant to trade and investment in Vietnam is scheduled to be launched on March 2 this year.-VNA