Vietnam’s SME optimism index ranks 2nd in world

January 22, 2011 | 10:47

(0) user say

Vietnamese small and medium-sized enterprises (SME) business growth optimism index has ranked second in the world behind Arab Saudi, according to HSBC survey results announced on January 20.

illustration photo

One fourth of surveyed businesses in developed markets said economic growth would be slower in the next six months while 43 per cent of businesses in emerging markets said that the economy would bounce back. In particular, 60 per cent of Vietnamese businesses were optimistic that the local economy will continue to develop.

Asked about business plans in international markets in the next two years, 42 per cent of Vietnamese businesses said that they had plans to expand business and about 18 per cent of businesses plan to expand into international markets.

Acknowledging difficulties in expanding businesses to international markets, about 49 per cent of Vietnamese respondents said that access to capital and knowledge of trading with foreign currency were major obstacles.

Three top concerns of Vietnamese businesses in the next six months are inflation (62 per cent), economic growth conditions (52 per cent) and difficulties in accessing capital (52 per cent).

The survey results also pointed out that 53 per cent of local respondents believe that monetary policy and economic stimulus packages were responsible for economic growth in the past, while 28 per cent of businesses said that domestic demand is the main driver of growth.

Alan Keir, HSBC’s global director of Commercial Banking said that the SME optimism trend was a glad sign for emerging markets which play an important role in promoting the global economy.

Conducted two times per year, this largest-ever survey recorded opinions of over 6,300 SMEs from 21 markets in Asia, Africa, the Middle East, Europe, North America and Latin America.

VIR/ VNA

What the stars mean:

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