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Why the foreign business community believe that Vietnam's economy will recover in a V-shape

Why the foreign business community believe that Vietnam's economy will recover in a V-shape

Friday 15, 05 2020
Most foreign associations who shared at the Prime Minister's Meeting with businesses recently expressed their confidence in Vietnam's decisions.

The general judgment of associations is that if appropriate measures are taken, the economy will recover quickly after Covid-19.


EuroCham President Nicolas Audier said European businesses appreciated Vietnam's measures taken to protect businesses during the Covid-19 pandemic. "Vietnam is well-positioned to take on new opportunities," said Nicolas Audier.

According to him, Vietnam is becoming a model of disease prevention for other countries. This helps maintain and strengthen the confidence of the European business community. He also emphasized that besides supporting domestic enterprises, Vietnam should pay more attention to the difficulties of foreign enterprises, because this was an important factor contributing to promoting growth when the economy recovered. Nicolas Audier also suggested that Vietnam should take advantage of ASEAN's chairmanship to call for a package of economic recovery and a public-private partnership package in the whole of ASEAN.

The US

Vu Tu Thanh, Deputy Director of the Regional Operations of the US-ASEAN Economic Council, also appreciated the anti-pandemic measures that Vietnam has taken. According to him, American businesses are very impressed with Vietnam's undertakings, assertiveness, and determination. Compared with other countries in the ASEAN region, Vietnam ranks 1st in the perspective of the commitment of the leaders, which are the highest decision-makers - he said.


Mr. Hong Sun, Vice President Korcham said that Korean businesses highly appreciated Vietnam constantly reforming and improving its investment environment, especially the pandemic prevention measures that help to strengthen the confidence of investors.

"With a stable business environment and effective anti-pandemic solutions by the Government, Korcham will continue to introduce quality businesses to invest in Vietnam, ensuring the policy of selectively attracting FDI under the Resolution 50 of the Politburo on foreign investment ", he affirmed. Accordingly, Korean businesses will cooperate with Vietnamese enterprises to create sustainable links to build new supply chains and accompany Vietnam to restore the economy.

Why the foreign business community believe that Vietnam's economy will recover in a V-shape


Mr. Funayama Tetsu, the representative of JCCI, said that if there are appropriate measures, the Vietnamese economy will soon recover in the "V-shape" after being damaged by the epidemic. He also said that improving the business environment would help increase the attraction of FDI in general and Japanese companies in particular.

Despite acknowledging many optimistic aspects, Mr. Funayama Tetsu said that Vietnam would experience a challenging year with a dual goal: fighting disease and recovering the economy. Therefore, Japanese businesses expected the Government to maintain a regular dialogue channel, including policy comments in the "post-COVID-19" period on topics to enhance cooperation between Vietnam and Japan in the coming time.

​>> Vietnam's Economy Is Doing Well - Despite The Global Trend


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