The European Chamber of Commerce in Vietnam (EuroCham) has announced a significant rise in its Business Climate Index (BCI) to 66.5 points, surpassing pre-US tariff levels and reaching a three-year high. This milestone underscores the resilience and adaptability of European businesses amidst a turbulent global economic landscape.
According to the report, 31% of surveyed companies reported adverse effects from new US tariffs, nearly doubling since Q2. However, a net 9% of businesses also noted positive impacts, highlighting their agility in leveraging opportunities from the reshaping of global supply chains.
EuroCham remains optimistic about business prospects in Vietnam.
Notably, the trend of supply chain relocation away from Vietnam remains minimal, with only 3% of businesses considering departure, while another 3% plan to expand investments. The majority of companies maintain their operational strategies, despite ongoing discussions on “transshipment” regulations and trade negotiations with the US.
Furthermore, the report highlights a robust improvement in EuroCham business sentiment, with 80% of respondents optimistic about the next five years and 76% willing to recommend Vietnam as an investment destination. This resilience underscores Vietnam’s enduring appeal despite external challenges.
The recent upgrade of Vietnam’s stock market from “frontier” to “secondary emerging” status by FTSE Russell further bolsters this BCI result, reflecting growing international investor confidence and Vietnam’s rising prominence on the global investment map.
EuroCham Chairman Bruno Jaspaert remarked, “Maintaining stable confidence in an uncertain world is remarkable, especially amid geopolitical tensions, technological shifts, and climate challenges reshaping global trade and investment strategies.”
These developments vividly illustrate European investors’ perspective on Vietnam’s future: a high-potential economy that must continue addressing institutional bottlenecks to sustain growth and enhance long-term competitiveness.
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