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HSBC survey: Vietnamese businesses more confident
The latest Trade Confidence Index, a survey by the Hong Kong and Shanghai Banking Corporation (HSBC), shows that small- and medium-sized Vietnamese businesses are more confident.
The Vietnamese businesses participating in the survey received 110 points- two points more than in the last survey conducted by HSBC in the second quarter of the year.
According to the survey, 65 percent of the businesses believe that trade volume will increase.
With the figure, Vietnam tops the list of 12 markets engaged in the survey-Vietnam, Indonesia, Malaysia, Singapore, mainland China, Hong Kong (China), UAE, Brazil, Australia, the US, the UK, and India.
As a result of this confidence, 65 percent of businesses also say that they will have increased trade finance needs in the next three months.
The survey also shows that 63 percent of import-export businesses from Vietnam foresee a growth in the global economy in the next three months, as opposed to 42 percent in the last survey.
In the latest survey by HSBC, the businesses express their concerns over barriers to their business, with 81 percent of Vietnamese businesses saying that fluctuating exchange rates are one such obstacle.
Additionally, the costs of essential services such as shipping, logistics and storage, and some government trade regulations are also impeding trade./.
Vietnamplus
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