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EuroCham President Alain Cany In comparison to the first quarter of 2022, European investors' confidence in Vietnam's growth potential has decreased. Approximately 60 percent of respondents predict that Vietnam's economy will stabilize or improve in the third quarter of 2022, while this figure was 69 percent the previous quarter. Around 45 percent of survey respondents said they were very satisfied or satisfied with Vietnam's efforts to attract and retain foreign direct investment (FDI), while 76 percent expect their company to raise capital. FDI into Vietnam before the end of the third quarter. However, regarding Vietnam's green growth prospects, 79 percent of business leaders said their assessment of Vietnam's green development potential has improved. Nearly 90 percent of respondents think that Vietnam should strengthen the development of the green sector to attract more foreign investment. The survey also identified barriers to European investment in Vietnam and trade … [Read more...] about Business Climate Index in Vietnam drops: EuroCham Vietnam

Vietnam's potential growth is also being viewed with less favor by European business leaders, as 60 percent of respondents predicted that the Vietnamese economy would stabilize or improve in the third quarter of 2022, compared to 69 percent who held this belief entering the second quarter, according to a report released Monday by the European Chamber of Commerce in Vietnam (EuroCham). But most European business leaders remain upbeat about investing more in Vietnam, with 76 expecting their company to increase foreign direct investment (FDI) in Vietnam before the end of this quarter. Positive views were expressed about Vietnam's prospects for green growth too, with 79 percent of participants saying their assessment of Vietnam's green development potential improved from the first quarter. Regarding the link between green growth and FDI, nearly 90 percent of respondents believed Vietnam should increase green sector development to attract more foreign investment. Some barriers … [Read more...] about European business sentiment declines in Vietnam driven by global headwinds

The Business Climate Index is the leading indicator of the European business and investment community in Vietnam. European businesses in Vietnam expressed their positiveness about Vietnam’s prospects for green growth, according to the latest Business Climate Index (BCI) released by the European Chamber of Commerce in Vietnam (EuroCham) and YouGov Vietnam. CEOs of European businesses gather an event in Ho Chi Minh City last April. Photo: EuroCham According to the BCI, nearly 80% of participants said their assessment of Vietnam’s green development potential improved from the first quarter of this year. About 44% of the respondents have good and excellent outlook regarding the potential for Vietnam’s green and sustainable development. Regarding the link between green growth and foreign-direct investment (FDI), nearly 90% of the respondents believed Vietnam should accelerate green sector development to attract more foreign investment. EuroCham Chairman Alain … [Read more...] about European businesses positive about Vietnam’s prospects for green growth

Frozen shrimp production at a factory in the Mekong Delta province of Hau Giang. (Photo: VNA) HCM City (VNA) – Vietnam’s aquatic exports spiked 40% year-on-year to reach nearly 5.8 billion USD in the first half of 2022, the Vietnamese Association of Seafood Exporters and Producers (VASEP) has reported. The country earned more than 3.2 billion USD from aquatic exports in the second quarter of 2022, an increase of 36% from the same period last year. According to VASEP, shipments of shrimp picked up 7% – a quite modest pace – to total 450 million USD as a result of input shortages. Though, the sector experienced a strong growth of 33% in H1 to bring home 2.3 billion USD, accounting for 40% of the total seafood exports. Several producers have raised the shipments of high value-added processed shrimp products, instead of raw ones, to major markets like Japan, the US and the EU as a way to address input shortages. Exports of lobster posted a record-high 30-fold surge … [Read more...] about Aquatic exports spike 40% in H1

The factory of the Far Eastern New Apparel Vietnam Co. Ltd in Bac Dong Phu Industrial Park of Binh Phuoc province (Photo: VNA) Binh Phuoc (VNA) – Binh Phuoc , a province in the southern key economic region , recorded a trade surplus of nearly 700 million USD in first half of 2022, according to the provincial People’s Committee. The administration said thanks to proactive moves to ensure material supply for manufacturing and diversify export markets, local businesses have maintained the strong recovery trend and enjoyed good exports growth. They exported over 1.95 billion USD worth of goods in H1, rising 23.26% from a year earlier and equivalent to 50.74% of this year’s target. Meanwhile, the import turnover stood at 1.26 billion USD. The People’s Committee noted though there remain difficulties in export markets and goods flows, thanks to the experience gained during the long social distancing period in 2021, businesses have gradually ensured material supply … [Read more...] about Binh Phuoc posts nearly 700 million USD in H1 trade surplus

According to GSO, the country's socio-economic development in the first six months of 2022 has prospered in most industries and fields, especially processing and manufacturing industry ; retail sales of consumer goods and services; and exports. The agriculture-forestry-fishery sector increased 3%, contributing 4.5% to the overall growth of the economy. The industry and construction sector was up 8.9%, making up 46.8%, while the service sector rose by 8.6 percent, contributing 48.6 percent to the general GDP growth. In the January – June period, the country's GDP grew by 6.4%, higher than 2% and 5.7% growth rates of the same periods in 2020 and 2021, respectively. In terms of economic structure in the first two quarters, the agriculture-forestry-fishery sector accounted for 11% of the country’s economy; the industry-construction and service sectors made up 39.3% and 40.6%, respectively, the GSO said./. VNA … [Read more...] about Vietnam’s GDP expands 7.72% in Q2