Vietnam's highly skilled workforce is a major attraction for European investors.
The above information was provided from a survey on the Business Confidence Index recently announced by the European Chamber of Commerce in Vietnam (Eurocham). According to the survey, 75% of Eurocham member businesses said that they hire more than 3/4 of their employees locally.
This is a very positive assessment because the previous survey in the fourth quarter of last year showed that only 24% of businesses were satisfied and 40% said that the Vietnamese labor force's qualifications were average.
European businesses expressed optimism about the Vietnamese economy in both the short and long term, with two-thirds of businesses feeling positive about the prospects for the next five years.
European businesses are more likely to recommend Vietnam as a top investment destination. 54% (1,400 EuroCham businesses participating in the survey) of those surveyed said they would be more likely to recommend Vietnam to other foreign businesses.
EuroCham highlighted Vietnam's growing appeal in the European business community, while also suggesting the potential to further increase Vietnam's profile and attractiveness to investors.
In addition, businesses also reported facing legal barriers in Vietnam that hinder market entry and long-term investment such as administrative burden; clarity and consistency to create an investment environment; and improvements to roads, ports and bridges to support trade and logistics.
EuroCham Chairman Dominik Meichle assessed that Vietnam has huge economic potential and addressing legal challenges is key to fully realizing that potential.
According to Mr. Dominik Meichle, simplifying procedures and establishing more transparent regulations will help both Vietnamese and foreign businesses succeed. This will help Vietnam become a leading investment destination in the region, benefiting domestic businesses, attracting international capital and strengthening economic partnerships.
According to VTV
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