HCM City (VNA) – European companies have shown theiroptimism about their business activities in Vietnam in both the third andfourth quarters, as seen in the Business Climate Index (BCI) released by theEuropean Chamber of Commerce in Vietnam (EuroCham) on November 6.

The BCI for Q3 stood at 81 points, the secondhighest level since late 2016.

EuroCham said despite a slight BIC decline fromQ2, when the index hit an 18-month high, European firms’ sentiment in Q3remained positive, reflecting their confidence in Vietnam’s trade andinvestment environment.

EuroCham member businesses reported good performancebetween July and September, with 57 percent describing it as “good” and 10percent as “excellent”. Only 8 percent gave negative responses.

Regarding their outlook for Q4, the respondentsremain optimistic with nearly 60 percent believing that their businesssituation will be “good” and another 11 percent answering “excellent”. 

In the survey, more than 50 percent of theinterviewed firms said they will expand their workforce in Q4. The same rate ofEuropean companies said they will increase investment this quarter with 40.9percent anticipating a “moderate increase” and 10.8 percent expecting a“significant increase”. Only 6 percent plan a reduction in their investment.

EuroCham Co-Chairman Nicolas Audier saidEuropean investors now want to enter the Vietnamese market and expect theratification of the EU-Vietnam Free Trade Agreement. Therefore, EuroCham willcontinue working to promote the ratification of this historic deal andencourage trade and investment activities of European businesses inVietnam.-VNA