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Slight increase in business optimism

Update: July, 11/2012 - 09:23

HA NOI — Vietnamese businesses have had higher hopes for national economic recovery as the Business Confidence Index (BCI) reflected an increase of 7 points in the second quarter against the previous one.

The survey was carried out among 154 leading businesses operating in core business activities at all large, medium and small scales across Viet Nam from June 15 to July 7, said Viet Nam World Vest Base (WVB) Financial Intelligence Services Limited Company.

According to the WVB Viet Nam, 44 per cent of surveyed businesses said Viet Nam's overall economic panorama had shown better signs while 36 per cent saw Viet Nam's economic conditions having remained the same. Only 20 per cent of businesses said Viet Nam's economic conditions had worsened since a year ago.

Predicting Viet Nam's economic situation in the next 12 months, 71 per cent of businesses expressed a positive view, while only 3 per cent worried about Viet Nam's economic future. 25 per cent of surveyed businesses saw their profits remaining the same and only 4.5 per cent of businesses said their economic profits would face the risk of loss next year.

As a result, 51 per cent of questioned businesses would maintain their workforce, 35 per cent planned to recruit more employees, and 14 per cent of businesses said they would cut down their labour force in the time to come.

The majority of businesses defined credit loan procedures and tax policy as their biggest challenges for the time being. Besides these, the fake good issue sparked great concern among businesses as it has damaged the quality of goods and their reputations.

Most businesses in the survey agreed that the best solution to tackle difficulties was to demand the stimulation of goods consumption and services. As a result, banks have to cut down lending interest rates, debt restructuring and improve accessible capital for businesses. — VNS

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