Global trade

According to Grant Thornton's latest International Business Report (IBR), a leading global survey of mid-market enterprises, business sentiment among mid-market firms globally has improved since the previous survey in the same period of second half of 2022. Particularly, in the US market, confidence has increased significantly, with 70% of mid-market firms expecting profits to increase in the next year, up 6% compared to the second half of 2022.

The latest data from the International Business Report (IBR), Grant Thornton’s global survey of mid-market companies, shows that business leaders plan to increase investment over the next 12 months. Despite firms in many countries dealing with the highest interest rates they have seen in years (making credit more costly), investment intentions are up in every category compared to last year.

Results of Grant Thornton’s latest International Business Report survey found that more mid-market companies in Vietnam are aiming to remarkably increase investment in technology, human resources, and R&D in the next 12 months, compared to second half of last year. This upward trend in Vietnam also aligns with the global results of the survey, reflecting the awareness and desire of maintaining competitiveness among firms despite continuing economic uncertainty.

Grant Thornton’s latest International Business Report survey indicated that the ambition for cross-border trade among mid-market businesses in Vietnam reduced remarkably as a result of the global economic slowdown.

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The entrepreneurial culture of Ho Chi Minh City, combined with a youthful, progressive workforce and excellent trading links, make this a fantastic destination for businesses looking to expand into the region.

Whilst much has been spoken in the past on the need to improve institutions and the business environment, in order to attract and retain foreign direct investment, progress has been slow. However, it would seem that the Government is now paying more attention to this problem.