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Vietnam business confidence drops
The business-confidence index for the fourth touched 93 points, down 7 points from the previous quarter.This was revealed in a survey of 256 companies in various industries throughout Vietnam.
It was conducted by PetroVietnam Finance Investment and Consultancy Co. and Vietnam WVB Financial Intelligence Services.
The surveyed companies lead in brands, assets, revenue and numbers of employees. According to the survey, 66 percent of respondents say overall economic conditions have deteriorated in the last year.
About 41 percent believe customers will be able to afford their companies’ products and services for the next year, but 28 percent are pessimistic about the market.
About 47 percent anticipate improved profitability, but 25 percent expect profits to decline.
“Yet amid declining confidence in the economy, most CEOs and business managers still anticipate sales revenues and profits to increase over the upcoming year,” the researchers said in a press release.
Half are confident their company’s sales revenues will increase, 32 percent predict unchanged revenues.
Questions were asked about significant issues facing companies, such as inflation, the global economic crisis, the stock market, falling basic interest rates, and the weakening US dollar.
“Half of respondents still believe in a better economic outlook next year,” the press release said.
Fifty-four percent think the number of their employees will remain the same over the next 12 months, while only 14 percent think they will have to make cuts.
Half think they will maintain the same fixed expenditure for factory workshop equipment and machines, while 36 percent say they will continue to invest more in fixed assets.
VOV, VNS
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