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Businesses optimistic about trade prospects
A majority of small and medium sized enterprises (SMEs) have talked confidently about an early rebound in the global economy, according to a recent survey conducted by HSBC in Vietnam.
The survey’s results, announced in Ho Chi Minh City on June 3, show that up to 54 percent of the respondents have forecast that the volume of trade transactions would surge in the next few months, the highest rate of optimism in the Asian-Pacific region.
Almost three quarters of the 300 business executives surveyed said they don’t expect any more risks to both clients and businesses and 54 percent expected access to financial assistance to increase, with the banking system being the major channel.
However, two thirds of them said that fluctuating forex rates are a huge risk to businesses and 62 percent said the unstable forex market would be the biggest barrier to their growth.
Vietnamese SMEs have the most confidence in China and its territories with 29 percent forecasting that the neighbouring economy will enjoy the region’s highest growth rate over the next three months.
While 42 percent of respondents were optimistic about the global economy, only 18 percent were pessimistic.
Director Nguyen Thanh Ha from the Hong Kong-Shanghai Banking Corporation (HSBC) said that Vietnamese businesses were very confident about the domestic market’s long-term development. The Government’s stimulus packages to develop businesses, an upgraded infrastructure and legal framework, enterprising young human resources and an ideal geographic position in the region have given the country many advantages.
Vietnamese businesses were only part of a general survey conducted by HSBC in Australia, China, Hong Kong, India, Singapore and the United Arabic Emirates, which involved over 2,100 business executives including many from import-export businesses.
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