|Foundry workers produce parts for machines at a mechanical company in northern Thai Nguyen Province's Song Cong Industrial Zone. Business confidence is said to be improving in Viet Nam while faster-growing economies focused on sustainable growth. — VNA/VNS Photo Hoang Hung
HA NOI (VNS)— Business confidence improved in Viet Nam while faster-growing economies focused on sustainable growth, according to a new survey.
A business-confidence index survey by Regus, which claims to be the world's biggest provider of flexible work space, says that more than 20,000 senior executives across 95 countries, found that while confidence levels have risen by five points to 109 in mature economies, a nine point drop occurred in 117 in emerging countries.
In Viet Nam, business confidence has increased from 109 points in April 2013 to 118, just above the global average of 113 points.
The report also indicated that Vietnamese businesses wanted to improve staff retention and find cost-effective service providers over the next 12 months, in a bid to lower costs and preserve expansion plans.
The gap in business confidence between mature and fast-growing economies fell as efficiency gains and improved competitiveness bolstered growth in emerging markets.
Findings also showed that firms prioritised cost-saving initiatives, ranging from talent retention to flexible work conditions, to improve gains on existing assets and enable fast and flexible expansions.
"While mature economies are showing confidence gains as their economic outlook turns positive, the emerging world is slowing the pace of growth as businesses aim to become increasingly efficient to promote productivity," said Regus Viet Nam manager Serge Dupaux.
"Our research also shows that utilising flexible workspaces can have a significant impact on the bottom line, encouraging sustainable growth," he added.
Meanwhile, the report also showed companies reporting revenue growth in Viet Nam fell from 55 per cent to 50 per cent.
The top four outcomes for Viet Nam included improved staff retention (58 per cent), cost effective services providers (42 per cent), higher return on investment on marketing and advertising (38 per cent) and less fixed office space (33 per cent). — VNS