European enterprises upbeat about Vietnamese business environment

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Accordingly, European enterprises had positive assessment of Viet Nam’s investment and trade environment after the Covid-19 outbreak. 

In Q1, BCI dropped to an unprecedentedly low level of 27 percentage points. However, thanks to effective measures on economics and public health, Viet Nam early resumed investment and business activities. 

Hence, BCI increased by 7 percentage points between January and April, to 34%. Over 25% of European businesses in Viet Nam benefited from the Government’s policies on tax breaks. In addition, about 20% of them were given subsidies of land lease reduction and temporary social insurance payment. 

However, up to 88% of European enterprises reported that they were negatively affected by the pandemic. 

Over 50% of enterprises responded that more tax reduction including corporate income tax, personal income tax, and added value tax (VAT) would support them to get out of the crisis.

EuroCham Chairman Nicolas Audier said that the BCI showed that Viet Nam was one of the most successful countries in coping with the pandemic.  

The Chairman suggested Viet Nam take more creative measures to deal with urgent issues including bringing foreign experts back to work in enterprises and international organizations./. 

By Kim Anh