VN second for business expansion in ASEAN

August 30, 2014 | 10:10

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Viet Nam is the second most listed location for business expansion in ASEAN, according to a survey released on Thursday by the US Chamber of Commerce and the American Chamber of Commerce in Singapore (AmCham Singapore).

A production line at the Japanese invested EXEDY Viet Nam Company in Khai Quang Industrial Park in Vinh Phuc Province. Asurvey has found that 37 per cent of respondents in ASEAN reported their companies had plans for future expansion in Viet Nam. - VNA/VNS Photo Danh Lam

The poll was conducted from May 5 to June 5 with 588 senior executives representing US companies in all ten ASEAN countries, including 77 in Viet Nam.

As many as 37 per cent of respondents region-wide reported that their companies had plans for future business expansion in Viet Nam, only after Indonesia with 41 per cent.

More than half, 57 per cent, of respondents in Viet Nam expect their workforce to increase in 2014, 66 per cent hope for a profit increase this year and 82 per cent believe in a profit increase next year.

The American senior executives pointed to some strengths of Viet Nam, including positive sentiments toward the US (66 per cent), the availability of low cost labour (61 per cent), the level of personal security (61 per cent), and stable government and political system (60 per cent).

Respondents indicated dissatisfaction about laws and regulations (49 per cent), infrastructure and tax structure of Viet Nam (48 per cent).

VNS

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