Vietnamese businesses stay confident, expect higher growth

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The optimism of Vietnam's business community continues to outpace many other markets with local companies expecting high growth this year, a new survey has found.

According to the latest Business Barometer Survey by The Nielsen Company Vietnam, business sentiment in the country is very "positive."

Senior business leaders now predict even higher growth, at 13.6 percent versus the previous forecast of 11.3 percent.

"Despite the slight dip in consumer confidence, business leaders still expect double-digit growth for their business and industry," Managing Director Darin Williams said in a statement Tuesday.

He said companies plan to hire more staff this year and "are looking at new avenues of growth to support these aggressive growth targets."

Businesses anticipate that consumers will purchase more local Vietnamese brands over the coming six to 12 months and will continue their cost-conscious shopping behavior.

Consumer confidence in Vietnam slipped a few notches in the first quarter, bringing the country down seven spots to rank 11th in the list of most confident nations, according to another Nielsen survey published last month.

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