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Vietnam gets its first index of business-confidence
The Vietnam WVB Financial Intelligence Service (WVB FISL) and the PetroVietnam Finance Investment and Consultancy Company (PVFC Invest) have devised their own Business Confidence Index (BCI) for Vietnam.
The new system will come into operation for the fourth quarter of this year and end in December. It will be based on an average of 100 points. Readings of 100 and above will denote expansionary situations, while those below this level will, according to the private assessors, reflect a contraction.
The result of a survey in the third quarter of this year indicates that the majority of respondents have a strong belief in the positive changes and improvement in Vietnam’s economy.
The survey and research team appointed to grade companies has selected the following six criteria: economic conditions, economic outlook, expected change in employment, planned investments, expected revenue growth and expected profit growth.
These six questions will be asked quarterly to build an index database. Besides these six questions, other topical questions will also be included in the survey.
“After careful consideration, we finally have a list of survey participants across various industries. They are the country’s leading enterprises in branding, assets, revenue and in numbers of employees,” said Nguyen Van Xuyen, CEO of PVFC Invest.
“Half of the survey participants selected are small and medium-sized enterprises (SMEs) because SMEs account for more than 95 percent of all businesses and contribute greatly to our economy.”
VOV
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