A survey by the General Statistics Office among manufacturing and processing firms found that 81 percent of respondents expected stable or better business results this year.

 

A previous survey by Vietnam Report among the 500 largest enterprises in Vietnam found they were all optimistic about revenue, profit and overall business results for 2017.

 

Experts said business optimism would become a major driver for economic growth this year.

 

According to Le Duy Anh, general director of the furniture maker Xuan Hoa Joint Stock Company, said that business confidence is growing. “This is driven by the improved business climate and the Government’s efforts to remove difficulties for businesses.

“2017 will be a better year for the overall economy with stable macro-economy and higher growth,” Duy Anh said, adding that his company expects to reach 20-percent growth compared to 2016.

 

Last year saw a record of 110,000 new firms registered, reflecting improved confidence in the economy two years after the amended laws on investment and business came into force.

 

Nguyen Anh Duong from the Central Institute for Economic Management said the Government is more active in undertaking dialogue with firms, listening to their difficulties and proposing solutions.

 

At the same time, the country’s rapid integration into the global economy is also providing significant opportunities for businesses, such as the participation in trade deals with the EU and the foundation of the ASEAN Economic Community.