European businesses express long-term commitment to Vietnam

European businesses are demonstrating significant long-term interest in Vietnam, with 23% of surveyed companies planning operations with a vision exceeding 20 years. According to the latest Business Confidence Index (BCI) from EuroCham, the index stands at 78.3/100, and 90% of surveyed enterprises are willing to recommend Vietnam as an investment destination.

During a high-level seminar involving Vietnamese President To Lam and leaders from the European Commission and the Belgian Senate, EuroCham announced the ‘Give Back to Vietnam’ initiative to promote community contributions. Major corporations active in sectors such as infrastructure, telecommunications, energy, and aerospace, including Siemens, Ericsson, and Heineken, participated in discussions regarding technological cooperation and investment expansion.

While the BCI saw a slight quarterly decrease of 1.4 points due to global demand fluctuations and rising input costs, confidence remains high. The agriculture and food value chain sectors showed the strongest improvement, while the tourism and hospitality sectors experienced a decline. Businesses expressed a desire for more streamlined administrative procedures to better predict business outcomes amidst Vietnam's robust GDP growth.