ILD Coffee Vietnam Company Limited (ILD), a joint venture between Instanta Sp. Z o o, Poland and Louis Dreyfus Company Asia Pte Ltd, Singapore. (Photo: VNA)

The BCI score saw a notable increase from 45.1 in Q3 of 2023 to 52 this quarter, signaling a strong year-on-year recovery.

EuroCham’s BCI survey is conducted by Decision Lab to gather and analyze insights from the chamber’s network of 1,400 members. This quarterly assessment acts as a barometer of sentiment among European businesses operating in Vietnam, providing real-time insights into the evolving business landscape in the country. The BCI gauges perceptions of current conditions and future expectations, helping to inform strategic decisions and policy advocacy.

The damage caused by Typhoon Yagi, which severely impacted the infrastructure and agricultural sectors in Northern Vietnam, has led the Vietnamese government to forecast a 0.15% reduction in GDP for 2024. Yet EuroCham’s latest survey, conducted after the typhoon from September 12 to 25, shows that 47.4% of respondents are confident their companies will see improvement in the coming quarter.

Long-term optimism remains high, with 69.3% expecting a favorable business climate over the next five years.