Small and medium-sized enterprises (SMEs) expressed their strong belief in Vietnam’s economic growth for its quite impressive performances, according to a survey released by the Hong Kong and Shanghai Banking Corporation (HSBC).
The survey, covering 501 SMEs in Hanoi and Ho Chi Minh City, was aimed to measure local business confidence in Vietnam’s economy.
Vietnamese SMEs felt positive about Vietnamese economic prospects in the next six months, the HSBC said.
Up to 76 per cent of the interviewees believed that Vietnamese economy would reach a robust growth of over 8 per cent in 2007, while just 4 per cent of those thought the business environment would remain unchanged.
Around 74 per cent of the respondents showed their willingness to expand operations in the country by the year-end. None of them has plans to stop operation or cut production, proving their growing confidences in the business climate.
The survey also said that some 70 per cent of these SMEs would to employ more laborers this year.
Besides, the interviewed enterprises also expected that their trade ties with countries over the world, particularly China and Asia would grow fast in the next six months.
The HSBC Small Business Confidence Survey is the largest of its kind in Asia, also questioning other 1,800 SMEs across nine countries and territories including Hong Kong, mainland China, Taiwan, Singapore, India, South Korea, Malaysia, Indonesia and Australia.
Companies were asked about their expectation in local economies, plans to invest and recruit and others.
Vietnam now has more than 270,000 SMEs making up some 96 per cent of total enterprises in the country, generating 2.6 million jobs and contributing nearly 40 per cent of the country’s GDP.
Vietnam has set a goal to raise the number of SMES to 500,000 by 2010, state media said. (Youth, VNS)
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