Vietnam an ideal venue to do business: AmCham
Vietnam an ideal venue to do business: AmCham
Despite concerns, 94 percent of U.S. enterprises in Vietnam that participated in a survey by the American Chamber of Commerce in Vietnam (AmCham) believe Vietnam remains a good place to do business, citing its growing infrastructure, skilled workforce, and strategic location.
A view of downtown Ho Chi Minh City. Photo: Van Trung / Tuoi Tre |
About 98 percent of the participating U.S. enterprises are manufacturers, according to the results of AmCham's snap survey conducted among its members.
The survey also revealed significant concerns about the potential impact of tariffs on goods from Vietnam.
Conducted from February 4 to 11, the AmCham survey gathered insights from over a hundred member companies, providing a timely assessment of business sentiment on this critical issue.
The survey showed that U.S. enterprises remain confident in Vietnam.
Strong trade relations between the U.S. and Vietnam benefit both nations, said Travis Mitchell, AmCham executive director.
He added that open communication and collaborative efforts are essential to preserving this vital partnership.
The survey also indicated widespread concern across industries. Up to 81 percent of the respondents expressed concern about potential tariffs. This sentiment is particularly strong within the manufacturing sector (92 percent concerned).
Many businesses fear that increased costs due to tariffs could disrupt supply chains and force them to rethink their operations.
“If these tariffs go through, it will be a major setback for our industry. We rely heavily on exports to the U.S., and additional costs will mean reduced competitiveness,” said one respondent from the manufacturing sector.
Vietnam is considered as a country that has made significant efforts to participate and play an important role in the global supply chain. Businesses have considered diversifying export markets to maintain control over their production and business processes.
According to the General Department of Vietnam Customs, the country’s import and export value totaled nearly US$63.3 billion last month, down 10.3 percent month on month.
Of the total, exports reached about $33.19 billion, a decline of 6.6 percent.
Foreign direct investment enterprises’ import-export turnover was $42.6 billion in January, down 6.8 percent.
- 21:15 21/02/2025
