71% of European businesses expect increases in revenue in Q4

15:58 | 09/11/2018 Global Economy

Approximately 71% of European businesses operating in Vietnam expect an increase in order volume or revenue in the fourth quarter of 2018 according to the latest data from the Business Climate Index (BCI) conducted by the European Chamber of Commerce in Vietnam (EuroCham) on the business sentiment among European companies in the third quarter of 2018.

Approximately 42% of businesses reveal their intention to maintain the same level of headcount in the next quarter of this year - Illustrative image

The latest BCI results showed that Vietnam has a positive business environment for European businesses to grow, with 68% of respondents considering it as "Excellent" or "Good", down from 74% in the previous quarterly survey.

European businesses also expressed their acknowledgement of the stabilisation and improvement of Vietnam's macroeconomic situation with 59% of respondents recognising the positivity, a slight increase from 57% from the last quarter.

Meanwhile, 42% of businesses revealed their intention to maintain the same level of headcount in the next quarter of this year, an increase by 8% over Q2, and 42% of respondents expected moderate increases in headcount development, down from the 49% of Q2.

Approximately 41% of European businesses intend to maintain the same level of investment in the next quarter, an increase of 10% over Q2, demonstrating their cautiousness when planning for investment.

The survey showed that European businesses still place confidence in Vietnam's business outlook for the final quarter of 2018, which is reflected through 71% of respondents answering "Excellent" or "Good".

The survey results represented the response of more than 200 European businesses in Vietnam which is expected to identify any potential changes in the economic climate in Vietnam.

Theo NDO