August 27, 2020

EuroCham BCI Q2 2020: Confidence of European Business Leaders Stabilizing

The confidence of European business leaders continues to stabilize despite uncertain times – according to the latest Business Climate Index (BCI) from the European Chamber of Commerce (EuroCham) and Decision Lab. The BCI is a regular barometer of EuroCham members and their perceptions of the trade and investment environment. Each quarter, it tracks the performance of EuroCham’s member companies and their perceptions of the economic environment in Vietnam.
 
The overall BCI score saw a slight increase over the last three months. It rose from 27 per cent in Q1 to 34 per cent in April, and remained stable into Q2. This confirms that confidence is returning to the market after a fall during the initial emergence of COVID-19. However, the BCI also shows that European business leaders continue to feel the impact of the global pandemic, and remain cautious about the future prospects of their enterprises.
 
The latest BCI reveals that European enterprises fared better over the last three months than first anticipated during the height of the COVID-19 pandemic. In Q1, just one-in-ten EuroCham members had foreseen a short-term improvement in their performance. However, businesses outperformed these predictions, with 24 per cent describing their business situation as “good” or “excellent” over the last three months.
 
Looking ahead there are more grounds for optimism, with around a quarter of EuroCham members predicting a rise in orders in Q3. Meanwhile, a further 28 per cent anticipate a similar level of orders to Q2, and this should help to drive growth into the autumn. Despite these positive signals, companies continue to feel the impact of COVID-19 on their business operations, with around half predicting a drop in headcount in the next quarter.
 
Nicolas Audier, Chairman of EuroCham, said:
 
“Despite the stormy waters of a global pandemic, our data shows that the government’s swift and effective response to COVID-19 has successfully steadied the ship here in Vietnam. While the confidence of our member companies has improved and stabilized, business leaders continue to feel the effects of this virus and remain cautious about the future prospects of their business operations.
 
“The BCI also found that international travel restrictions are having an impact on European enterprises in Vietnam. The government has worked with foreign business communities to facilitate the safe return of essential workers, and we are grateful for their assistance. Looking ahead, global trade will remain unpredictable for some time. But we can be confident that European business will be one of the factors driving long-term economic growth in Vietnam, now that the EU-Vietnam Free Trade Agreement has entered into force.”
    
BCI Q2 2020

 

 

More News

See all

March 05, 2023

EuroCham Shared Our Views on Boosting Vietnam’s Business and Tourism on VTV4

Read more

March 02, 2023

Vietnam Business Forum (VBF) 2023 Scheduled for March 17, 19 – Register Now!

Read more

March 02, 2023

Food, Agri and Aqua Business Sector Committee (FAABS) Elected its 2023 Board

Read more

February 27, 2023

[CORPORATE]Vietjet opens new flight routes Ho Chi Minh City – Sydney; Ho Chi Minh City – Melbourne only 0VND

Read more

February 23, 2023

EuroCham and HAWA Sign MOU at HawaExpo 2023 to Boost Industry Cooperation and Trade Activities

Read more

February 22, 2023

[Work @ EuroCham] Sector Committee Coordinator

Read more

February 22, 2023

EuroCham Spoke at a Meeting Between HCMC’s Leaders and Foreign Business Associations

Read more

February 21, 2023

[CORPORATE] Discover the EIS Educational Village – Open Day 25th March 2023

Read more

February 21, 2023

[CORPORATE] EMS Vietnam – Vietnam Post’s High quality International Express Service

Read more

February 21, 2023

EuroCham Vietnam and DOLISA Met to Discuss Work Permit Process Difficulties in HCMC

Read more

February 20, 2023

Vice-Chair Claudia Anselmi Shared Perspectives at Human Rights Due Diligence (HRDD) Forum

Read more

February 13, 2023

[Work @ EuroCham] Head of Office Hanoi cum External Relations Manager

Read more

February 09, 2023

EuroCham Will Unveil Our 2022/2023 Whitebook and GEFE 2022 Report on Feb. 16

Read more

February 06, 2023

Chairman Alain Cany Sat Down for an Interview with Forbes Vietnam

Read more

January 30, 2023

Deutsches Haus Ho Chi Minh City Ushered in the New Year with a Lion Dance

Read more

January 19, 2023

The European Business Organization Worldwide Network’s (EBO WWN) Southeast Asian Network Kicked Off Its First Meeting of 2023

Read more

January 16, 2023

Q4 2022 Business Climate Index Results Released

Read more

October 05, 2022

EuroCham’s GEFE 2022 Press Conference in Hanoi

Read more

September 20, 2022

EuroCham Met with Prime Minister Pham Minh Chinh three times last week

Read more

August 24, 2022

EuroCham and its Nine Affiliated European BAs Held the “GEFE and You – How You Can Get Involved” Webinar

Read more

August 17, 2022

Restricted content

Read more

August 11, 2022

[Corporate] EMS International Services to Japan, Korea, Taiwan with extremely preferential rates in July and August 2022

Read more

August 05, 2022

EuroCham attended program on “Connecting the suppliers in the Mekong Delta of Vietnam with distributors, exporting businesses and trade promotion organizations”

Read more

August 01, 2022

EuroCham attended the Workshop "Evaluation Framework for Business regulation reforms and Data Analysis solutions"

Read more

July 28, 2022

[Corporate] BASF Q2 2022: BASF again with strong earnings despite continued high prices for raw materials and energy

Read more

July 08, 2022

Digital Sector Committee – Newsletter Issue No.3 / 2022

Read more

July 01, 2022

[BCI Q2 2022] European Business Stakeholders’ Confidence in Vietnam’s Business Environment Declined Slightly Following Global Economic Uncertainty

Read more

June 30, 2022

EuroCham Ventured to Vung Tau for a Field Trip

Read more

June 13, 2022

[Business Luncheon] Leveraging Artificial Intelligence: The Future of Banking and Financial Services in Vietnam

Read more

June 10, 2022

EuroCham Participated in the Fourth Vietnam Economic Forum

Read more

Pour une expérience optimale, veuillez tenir votre mobile à la verticale !

Platinum Partners

Gold Premium Partners

Gold Partners

Silver Partners

Premium Service Partners