HSBC Navigator survey shows optimism of Vietnamese firms

Tuesday, 2019-11-05 16:21:40
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100% of survey companies hoped that their business will grow in the next five years. (Illustrative image)
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NDO – The latest HSBC Navigator survey showed that97% of surveyed enterprises operating in Vietnam expecthigher growth next year.

According to the survey released on November 5, 39% of Vietnamese firms looked for growth in excess of 15% in the next year.

In particular, 100% of survey companies hoped that their business will grow in the next five years. The Asia-Pacific region was said to continue being the main market of Vietnamese enterprises.

According to Chief Executive Officer of HSBC Vietnam, Tim Evans, Vietnam is one of the potential markets for international trade, so businesses have good reason to be optimistic. For example, Vietnam's economy is in a very good position, with a growth rate of 7.1% in 2018, the highest level over the past 10 years. In addition, the growth momentum in 2019 has been maintained as the economic growth was announced at 7.31% in the third quarter of 2019.

About 98% of surveyed firms in Vietnam also believed that international trade will promote innovation and creativity in the next year while 96% of firms said that international trade will bring about new business opportunities.

Notably, 32% of companies are studying the application of digital technologies to boost the supply chain and accelerate the market access of their products and services.

The survey also indicated that Vietnamese enterprises have raised their awareness of sustainable development,the attraction of talents, the protectionism trend, and geopolitical risks.

The Navigator survey is a global survey that quizzes more than 9,100 firms to find out their expectations and belief in the business operation and growth in 15 markets across the globe.