European firms remain optimistic about business situation in Vietnam
European companies have shown their optimism about their business activities in Vietnam in both the third and fourth quarters, as seen in the Business Climate Index released by the EuroCham on November 6.
The Business Climate Index for Q3 stood at 81 points, the second highest level since late 2016 (Photo: VNA)
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
The central city of Da Nang has been compiling simplified investment procedures to support European businesses with more transparency and a reduction in informal charges.
Vietnam gained 84 points for the second quarter of 2018 in the Business Climate Index (BCI), up 6 points from the previous quarter, according to new data from the BCI survey released by the European Chamber of Commerce in Vietnam (EuroCham) on October 4.
European businesses expressed their support for the signing and ratification of a free trade agreement between the European Union (EU) and Vietnam (EVFTA) at a conference on October 8.
The European Parliament (EP)'s Committee on International Trade (INTA) on October 10 held an opening hearing on the Free Trade Agreement (FTA) and the Investment Protection Agreement (IPA) between Vietnam and the European Union (EU).
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
The Business Climate Index for Q3 stood at 81 points, the second highest level since late 2016 (Photo: VNA) 
