CEO Confidence Index below expectations

July 31, 2017 | 15:42
The results of the CEO Confidence Index (CEO.CI) survey, launched for the first time at the second Vietnam Private Sector Forum 2017 (VPSF), reported 58 out of 100 points, quite low compared to the expectations of investors and enterprises.
VPSF 2017 will centre its activities around the survey results

Among the survey index results, the figure expressing the evaluation of investors and enterprises of the Vietnamese business environment was 46 points.

Besides, between 33-37 per cent of surveyed enterprises see advantages in their business sectors in Vietnam and 63 per cent admitted intentions to expand their operations in Vietnam in the next two years.

44 per cent of respondents lost opportunities for business operation due to legal barriers, including administrative procedures, tax policies, as well as difficulties in land access and capital arrangement. These are general barriers, but there are numerous specific problems in three key areas discussed at the forum, namely agriculture, tourism, and the digital economy.

The negative results of the CEO.CI show the modern thinking of the young businessmen of the Vietnam Young Entrepreneurs’ Association (VYEA). They dare to speak the truth to look for solutions to improve the business environment in Vietnam. Notably, they proposed a list of short- and long-term solutions for each sector. These solution were collected from consecutive dialogs between the survey group and representatives of ministries, departments, and leaders of cities and provinces.

The survey for CEO.CI was conducted by VYEA with technical assistance from the Asia Development Bank (ADB).The results will be one of the most important foundations for the public-private dialogue at VPSF 2017 and will serve as the basis for Vietnam’s private sector recommendations in the VPSF’s White Book, which will be published in August.

Speaking at the forum, Tran Anh Vuong, vice chairman of VYEA and director of the VPFS 2017 organisation board, said that the second forum is organised right after the issuance of Party Central Committee's Resolution 5, emphasising the important impact of the private sector on economic development, leading to the need for the government and private enterprises to build specific action programmes.

“Mekong Business Initiative (MBI) will continue to go together with the forum in upcoming years to build dialogue activities. I hope that the forum will become an annual activity in the long term,” said Dominic Mellor, ADB’s economic expert and representative of MBI.

Tran Ba Duong, chairman of Truong Hai Auto Joint Stock Company and representative of the VPSF 2017 Advisory Board, told Vneconomictimes that the private sector needs a dialogue to develop action plans, with a focus on economic restructuring, innovation, and startups.

VPSF is an initiative of VYEA and MBI, funded by the Asian Development Bank (ADB) and the Australian Government.

Second Vietnam Private Sector Forum to take place tomorrow Second Vietnam Private Sector Forum to take place tomorrow

The second Vietnam Private Sector Forum (VPSF), chaired by Prime Minister Nguyen Xuan Phuc, is scheduled to be held on July 31 at Melia Hanoi.

By By Ha Vy

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional