European firms hope for Vietnam’s continuous policy adjustments: EuroCham survey
(VOVWORLD) -The European Chamber of Commerce in Vietnam (EuroCham) on Monday released its Business Confidence Index (BCI) report for the second quarter of 2024, which revealed a marginal decline from 52.8 in Q1 to 51.3 in Q2, underscoring the necessity for ongoing policy adjustments to maintain momentum.
 Production at SCAVI Hue, a French-invested garment company in Phong Dien Industrial Park, Phong Dien district, Thua Thien-Hue province. (Photo: Tran Viet/VNA) |
Dominik Meichle, Chairman of EuroCham Vietnam, said that Vietnam's economic potential is undeniable, and the European business community remains confident in its long-term growth.
Although the survey points to areas for improvement, EuroCham believes that working together to address administrative and regulatory hurdles can create a more efficient and attractive business environment that benefits both the European and Vietnamese business communities, Meichle said.
The survey showed that carbon neutrality progress is key to attracting quality European FDI. In addition, the recent signing of the Direct Power Purchase Agreement (DPPA) decree offers a ray of hope. Swift and successful implementation could address some of these challenges, particularly by improving access to clean energy sources and potentially providing better sustainability incentives, it said.
The quarterly BCI, which is conducted by Decision Lab, serves as a vital tool for understanding the perceptions of European and Europe-related companies and investors in the Vietnamese market.
Conducted since 2011, the BCI collects feedback from EuroCham Vietnam's extensive network of 1,400 members across a diverse range of sectors. This survey provides valuable insights into the current business landscape in Vietnam and offers a glimpse into future expectations.