The European Chamber of Commerce in Vietnam (EuroCham) today announced that the business confidence index of European businesses operating in Vietnam (BCI) reached 46.3 in the fourth quarter of 2023.

EuroCham President Gabor Fluit affirmed a positive trend and more optimistic feelings amongst businesses despite a long way to go to fully recover. According to Mr. Gabor Fluit, the European business community believes that it has gone through the most difficult times.

Specifically, more businesses are confident in their current situation with an increased number from 24 percent in quarter 3-2023 to 32 percent in quarter 4-2023. More businesses believed in the outlook for the first quarter of 2024 as 29 percent of businesses rated their outlook as excellent or good whereas fewer businesses expressed extreme worry with decreased percentage from 9 percent to 5 percent.

Furthermore, 31 percent of companies plan to expand their workforce in the first quarter of 2024 and 34 percent intend to increase investment in the Southeast Asian country. According to statistics, Vietnam will have strong growth momentum and opportunities in 2024.

EuroCham Vietnam, the voice of the European business community in Vietnam, has released the results of its highly anticipated Business Confidence Index (BCI) which was carried out quarterly. BCI provides an overview of European investor sentiment in Vietnam. Conducted since 2011, BCI surveyed more than 1,400 EuroCham members in many different fields.

Source: SGGP