European firms more positive about Vietnam’s business climate
| |
Chairman of EuroCham Nicolas Audier |
Accordingly, during the COVID-19 pandemic, when social distancing and travel restrictions brought normal business operations to a halt, the EuroCham BCI fell to its lowest-ever score of 27% in the first quarter of 2020.
However, after the Government implemented a world-leading public-health and economic response, Vietnam was able to return to business-as-usual much sooner than other countries, who continue to struggle with the impact of the virus.
As a result, the positive sentiment of European business leaders began to bounce back, recording a 7% jump between February and April to reach 34%.
The BCI also found that more than 25% of European enterprises had benefited from the Government’s postponement of tax, while around one-in-five had benefited from a reduction in rent and a suspension of social insurance contributions.
Despite these positive signs, however, challenges remain for European enterprises, according to the survey.
A large proportion, 88% of the interviewed businesses, felt negative effects as a result of the pandemic in the three months to April. Meanwhile, more than 50% said that a reduction in taxes such as corporate income tax, personal income tax and value added tax would help them emerge stronger from the crisis.
Chairman of EuroCham Nicolas Audier said, “This data is further evidence that Vietnam is one of the international success stories of the COVID-19 pandemic. It also shows that the Government’s effective and sure-footed handling has had a tangible impact on the confidence of European business leaders.”
The next challenge will be adapting to the “new normal” where COVID-19 is present in other countries but where global trade remains essential to domestic economic growth. This will require imaginative solutions to address issues such as the return of foreign experts on whom many international companies depend, he added.
Related News
![Improving the competitiveness of businesses is an important factor](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/12/15/croped/img-41672024070914481720240712154952.jpg?240712040310)
Improving the competitiveness of businesses is an important factor
16:03 | 12/07/2024 Import-Export
![Total budget revenue in first half of year reaches 60% of estimate](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/04/14/croped/tien-thuong-tet-co-phai-dong-thue-thu-nhap-ca-nhan-khong2023092809180020240704143731.jpg?240707042903)
Total budget revenue in first half of year reaches 60% of estimate
16:29 | 07/07/2024 Finance
![Dong Nai Customs Department creates positive changes in import and export activities](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/062024/25/16/z5561116943450-f674bfb7a7d0a00a84e7200648a8ec082024062205064120240625163414.jpg?rt=20240625163417?240626103520)
Dong Nai Customs Department creates positive changes in import and export activities
10:35 | 26/06/2024 Customs
![The carbon credit market opens up many opportunities for businesses](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/052024/20/08/4-anh-t23-120240513094141-jjj20240513192028-120240520081906.jpg?rt=20240520081909?240521094130)
The carbon credit market opens up many opportunities for businesses
09:41 | 21/05/2024 Headlines
Latest News
HCM City annual international travel expo in September
15:15 | 26/07/2024 Import-Export
![Đồng Nai](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/361692-4902364192590514-images2439387-z3245301932583-8e0fcec4c0298cbdd1a67efc377e87d420240726151202.9807900.jpg?240726031245)
Đồng Nai's key export item hopes for recovery
15:12 | 26/07/2024 Import-Export
![Rice exports to set record turnover of 5 billion USD in 2024](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/1911gaoxuatkhaujpg-410520240726150836.9178600.jpg?240726030900)
Rice exports to set record turnover of 5 billion USD in 2024
15:08 | 26/07/2024 Import-Export
![4 export markets of tens of billions of dollars](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/image0012024072408363920240725154929.png?rt=20240725154931?240726081916)
4 export markets of tens of billions of dollars
08:19 | 26/07/2024 Import-Export
More News
![Difficult for phones to regain No. 1 position in exports](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/croped/image0012024072309572920240725155916.png?240726081749)
Difficult for phones to regain No. 1 position in exports
08:17 | 26/07/2024 Import-Export
![Indonesia licenses certificates of lobster cultivation for three Vietnamese companies](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/14/croped/lobster-409720240725140435.9377380.jpg?240725020459)
Indonesia licenses certificates of lobster cultivation for three Vietnamese companies
14:04 | 25/07/2024 Import-Export
![Vietnamese spend nearly 150 trillion VND on online shopping](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/14/croped/e-commerce-901820240725140330.8978560.jpg?240725020351)
Vietnamese spend nearly 150 trillion VND on online shopping
14:03 | 25/07/2024 Import-Export
![Four tens of billion USD export markets](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/22/croped/image00120240724083639-120240724220432.png?240725091715)
Four tens of billion USD export markets
09:17 | 25/07/2024 Import-Export
![Successful digital transformation solutions for wood industry enterprises](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/18/16/152024071210255720240718165847.jpg?rt=20240718165850?240725091456)
Successful digital transformation solutions for wood industry enterprises
09:14 | 25/07/2024 Import-Export
![Vietnamese lychee sold well at Costco stores in Australia](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/screenshot-2024-07-24-091517-547920240724140956.8680410.jpg?240724021028)
Vietnamese lychee sold well at Costco stores in Australia
14:10 | 24/07/2024 Import-Export
![Durian exports forecast to top 3 billion USD in 2024](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/durian-979820240724140848.8204690.jpg?240724020914)
Durian exports forecast to top 3 billion USD in 2024
14:09 | 24/07/2024 Import-Export
![FTA - support to promote pangasius export](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/15/16/17-ca2024012216053120240715164806.jpg?rt=20240715164809?240724091910)
FTA - support to promote pangasius export
09:19 | 24/07/2024 Import-Export
![Vietnam - France trade reached nearly US$2.5 billion in the first half of the year](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/23/14/croped/image0012024072010161720240723142729.png?240724091832)
Vietnam - France trade reached nearly US$2.5 billion in the first half of the year
09:18 | 24/07/2024 Import-Export
Your care
HCM City annual international travel expo in September
15:15 | 26/07/2024 Import-Export
![Đồng Nai](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/medium/361692-4902364192590514-images2439387-z3245301932583-8e0fcec4c0298cbdd1a67efc377e87d420240726151202.9807900.jpg?240726031245)
Đồng Nai's key export item hopes for recovery
15:12 | 26/07/2024 Import-Export
![Rice exports to set record turnover of 5 billion USD in 2024](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/medium/1911gaoxuatkhaujpg-410520240726150836.9178600.jpg?240726030900)
Rice exports to set record turnover of 5 billion USD in 2024
15:08 | 26/07/2024 Import-Export
![4 export markets of tens of billions of dollars](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/medium/image0012024072408363920240725154929.png?rt=20240725154931?240726081916)
4 export markets of tens of billions of dollars
08:19 | 26/07/2024 Import-Export
![Difficult for phones to regain No. 1 position in exports](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/croped/medium/image0012024072309572920240725155916.png?240726081749)
Difficult for phones to regain No. 1 position in exports
08:17 | 26/07/2024 Import-Export