EU firms’ confidence in Vietnam increases again: EuroCham

The European Chamber of Commerce Vietnam (EuroCham) has announced its Business Confidence Index for the third quarter of 2023. It showed that the index has regained its upward trajectory in the period, which offers a glimmer of hope for the Vietnamese business environment.

The Business Confidence Index nudged up to 45.1 in the third quarter, from 43.5 the previous quarter. While still below the 50-point threshold for four straight quarters, this small rise indicates emerging positive economic momentum.

Furthermore, the Q3 survey revealed a shift in projections for the quarter to come. Compared to responses in the Q2 survey, there was an 11 percentage point rise in businesses anticipating economic stabilisation and growth for the upcoming quarter.

Vietnam's global investment appeal remains strong, with 63% of surveyed businesses positioning Vietnam within their top 10 foreign investment destinations. Even more striking, 31% ranked Vietnam among their top three, while an impressive 16% hailed it as their foremost investment destination. Reflecting this confidence, over half of those surveyed plan to increase their investment in Vietnam by the end of the year./.