European business confidence in Vietnam at new peak
(VOVWORLD) -The Business Climate Index of European companies in Vietnam reached its highest level since the Covid-19 outbreak at 63.6 points in the fourth quarter of 2020, VnExpress reported.
The index increased by 37 points over a historic low of 26.7 points recorded in the first quarter, when Vietnam detected its first COVID-19 patients.
A new report released this week by the European Chamber of Commerce (EuroCham) attributes the growth to Vietnam’s effective handling of the COVID-19 pandemic and the EU-Vietnam Free Trade Agreement (EVFTA) coming into effect last August.
The report, which surveyed more than 2,000 European business leaders in Vietnam, found the respondents were more positive about their own enterprises’ performance in the fourth quarter, with 48 percent describing it as either "excellent" or "good," higher than the 40 percent recorded in the third quarter.
In terms of economic prospects, 57 percent expected the economy to stabilize and improve in the first three months of 2021.