Optimism remains The latest survey results show a higher level of German business trust in the Vietnamese economy compared with their trust in other Southeast Asian economies. Specifically, while 82 percent of German investors have no option but to lower their revenue growth targets for the 2020 fiscal year due to Covid-19, 59 percent of them remain optimistic about business development in Vietnam. In the medium term, 72 percent of German businesses will continue investing in Vietnam and 27 percent will continue recruiting new employees. Market demand and economic policies will be major challenges to the development of German businesses in the next 12 months. Regarding Covid-19’s impacts on Vietnam’s macroeconomic situation, 43 percent of German businesses recognize the pandemic’s negative impact on the Vietnamese economy despite its impressive growth and existing advantages. One of every five businesses affirmed the belief that the Vietnamese economy will recover and resume its growth in the medium term. German businesses noted that the Vietnamese government has deployed relief packages to help businesses overcome the crisis, and said prompt implementation of business support policies are expected to help accelerate economic recovery and growth. Most businesses remarked on the adverse impacts of Covid-19 on their… Read full this story
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