HSBC survey shows upturn in Vietnam’s business confidence

Vietnamese small- and medium-sized enterprises (SMEs) scored a confidence level of 150 points, a rise of 19 points over six months ago and the highest in Asia, according to a survey by the HSBC on emerging markets.

The survey, which reflects the views of 3,400 SMEs in 12 markets across Asia, Latin America and the Middle East, found that 62 percent of Vietnamese SMEs believe the growth of the domestic GDP will improve.

Fifty-eight percent said that they will increase their capital investment while 49 percent said they will increase recruitment.

Forty percent said the Government’s policies and measures are among the major factors fuelling Vietnam’s economic recovery, while 28 percent cited the recovery of regional and world economies.

The Vietnamese economy rebounded in the second quarter of 2009 thanks to the government’s stimulus packages and interest rate subsidies for SMEs, encouraging them to increase their capital investment and personnel, said Huynh Buu Quang, Head of Commercial Banking of HSBC Vietnam.

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