Vietnam remains positive for long-term investment say American firms

Containers are seen at Tan Cang Cai Mep Terminal in Ba Ria-Vung Tau Province, March 2021. Photo by VnExpress/Dang Khoa

Seventy eight percent of American companies in Vietnam say the country remains a “positive” or “very positive” long-term investment destination.

According to VN Express, a November 15-17 survey by the American Chamber of Commerce (AmCham) in Vietnam also found 25 percent of the respondents saying they expect to recover to normal operations by the end of this year, while two-thirds anticipate recovery by the first half next year.

The survey, which polled 550 corporate members and 2,000 individual representatives, found 45 percent of AmCham member companies operating at 60 percent or more and one-fifth are at 80 percent or more.

The key risks limiting companies’ operations now was international travel restrictions, according to 66 percent of the respondents, followed by supply chain disruptions/costs (56 percent) and domestic travel restrictions/complications (49 percent).

Many companies said they were facing labor shortages, mainly because their staff had returned to their hometowns, according to 57 percent of respondents.

Fifty-six percent said another factor for the worker shortage was that schools were closed, and parents were struggling with managing work and online learning.

In response, companies are offering flexible work schedules and providing assurances of vaccine access to attract more workers.

Almost all the respondents (92 percent) felt that the key element of a rebound roadmap for Vietnam was consistent policies throughout the country that would allow people to living safely with the Covid-19 virus.

Other factors are more vaccines/herd immunity (83 percent) and streamlined procedures for foreign expert approvals and travel (73 percent).

Join our 3 x a week Vietnam News, Travel and Expat information newsletter and keep up to date. https://aseannow.com/newsletter.php