EU firms consider Vietnam a gateway to the broader ASEAN market through the ASEAN Economic Community (AEC).

The latest survey reveals up to 73% of EU companies have reaped good or very good business results in Vietnam. Only 5.5% of respondents said their business performance was not as good as expected or they were making losses.

Besides, 76% of respondents said they are optimistic about Vietnam’s business prospects. Some 55% intend to step up employment to carry out their business expansion plans. Only 6.7% said they would lay off staff to scale down business. Meanwhile, 90% of the EU firms surveyed said they would sustain or expand their operations in the future.

The European Chamber of Commerce in Vietnam (EuroCham Vietnam) currently has over 900 members, with its offices in Hanoi, HCMC and Danang. This year, the organization intends to open a representative office in Haiphong to support EU businesses there.

In the BCI survey for the third quarter of 2016, 41% of respondents said they would maintain their current levels of investment in the country. Those planning to increase investment accounted for 39% and those having significant investment increase plans made up 17%. A mere 1% of the firms surveyed said they would divest their Vietnam operations, way below 7% in the preceding quarter.

At the press conference, Torrinha said that in 2017 the organization would continue focusing on EVFTA and activities related to the promotion of Vietnam as a gateway for European companies to gain access to the AEC market.

EuroCham Vietnam will publish its White Book 2017 in Hanoi in the next few days. This book will be different from the previous editions with the most important part dealing with EVFTA, and indicating the problems faced by EU enterprises in Vietnam and their recommendations for change.

Source:  thesaigontimes.vn