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Monday, June 17, 2024

Rising optimism

By Do An

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European businesses in Vietnam are beginning to exhibit increased optimism, despite the EuroCham’s business confidence index (BCI) for the fourth quarter of 2023 remaining below the midpoint. Some are starting to believe that the worst of the economic downturn is behind them. Conducted by Decision Lab since 2011, this quarterly release offers insights into the sentiments of over 1,400 EuroCham members from various sectors, providing valuable perspectives on Vietnam’s business landscape. Since Q4 2022, the index has consistently stayed below the midway mark, and the latest results are no exception. The BCI registered a score of 46.3 in the final quarter of 2023, indicating a cautious approach by European firms due to persistent market challenges. Analysts say that over one-third of businesses are anticipating a decline in performance during this period. Nonetheless, Gabor Fluit, EuroCham chairman, remains optimistic, stating, “While a full recovery may still be a long way off, businesses are beginning to feel more hopeful.” Rising hope and growing confidence In a promising turn of events, business confidence staged a notable upswing from 24% in Q3 to 32% in Q4, signaling an improvement in satisfaction levels among companies during the final quarter of 2023. Furthermore, 29% of firms […]
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