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» Business Confidence Index drops 07 points in Quarter IV, 2008

Hanoi, 17 December 2008:  Today, Vietnam WVB Financial Intelligence Services (WVB FISL) with PetroVietnam Finance Investment and Consultancy Company (PVFC Invest) jointly announced the  WVB-PVFC Invest business confidence index (BCI) for quarter IV, 2008.

The business confidence survey of the fourth quarter in 2008 was conducted in 2 weeks from 13 November to 27 November 2008 with the participation of 256 companies across 11 primary sectors and industries of Vietnam. They are the country’s leading enterprises regarding branding, total assets, total revenue, and number of employees across various industries in Vietnam. Half of survey participants selected also is Small and Medium Enterprises (SMEs) as representatives of Vietnamese SMEs.

With an index score of 93, the fourth quarter 2008 score represents a 7 point drop from 100 point as the index base in quarter III this year. Yet amid declining confidence in the economy compared to quarter III, most of CEOs and business managers still anticipate sales revenues and profits to increase over the upcoming year. 50% respondents still trust a better economy outlook over the next 12 months.

 Here are some key results for the WVB-PVFC Invest Business Confidence QIV/2008 survey :

• 66% think the overall economic conditions have worsened compared to one year ago
• 50% expect the overall economic conditions will be better over the next twelve months
• 54% think their company employees will remain the same over the next twelve months. Only 14% think their company will reduce the employee number.
• 50% think their company remains the same fixed expenditure for factory, workshop, equipments & machines over the next 12 months. 36% still think they will continue to invest more for fixed assets over the next 12 months.
• 50% are confident their company’s sales revenues will increase over the next 12 months but 32% think their sales revenue will remain the same.
• 47% are anticipating improved profitability over the next 12 months but 25% predict their profitability will decrease.

In this quarter, topical questions were also asked to find CEOs and business manager’s opinion on the significant issues their companies are facing in Vietnam such as inflation, the impact of global economic crisis, basic interest rate dropping, customer purchasing capacity, weakening value of US dollars and the impact of unstable stock market. 67% of respondents anticipate that the inflation rate in the next 12 months will be from 15% to 20%. About 41% respondents believe in the customer purchasing capacity for their companies’s products and services over the next year but 28% are pessimistic about the market.

Survey Result

WVB-PVFC Invest Business Confidence Index Score- QIV/2008:    93
WVB-PVFC Invest Business Confidence Index Score- QIII/2008:    100

About World Vest Base:
Established in 1985 in Chicago, USA, World'Vest Base (WVB) has becomes the world’s leading global provider of financial fundamentals serving the research and analytic needs of thousands of top companies in the financial services, media and corporate markets. The WVB global database is the financial industry’s premier source of detailed and transparent financial statement data on public companies. The database universe spans over 50,000 public companies over 130 countries from Asia, Africa, Australia, Europe, Latin America and North America. WVB Regional databases also cover hundreds of thousands of private companies in Thailand, Vietnam, Laos, Cambodia, Malaysia and Egypt. WVB also provides databases with Insider & Major Shareholders Transactions, specialized End-of-Day pricing for emerging markets and worldwide credit risk and business risk scoring.
Further information can be reached at the company’s official website: http://www.wvb.com

About PVFC Invest
PetroVietnam Finance Investment and Consultancy Company (PVFC Invest) is the subsidiary of PetroVietnam Finance Company (PVFC). Our main investment priority fields are oil and gas industry, energy, high-end tourism, real – estate, manufacturing... Besides, PVFC Invest’s professional consulting services includes: financial advisory, investment advisory, merge and acquisition. PVFC Invest is proud of 100 employees who obtain in-depth experience, full-understanding about financial market and management from working for domestic and international financial organizations or graduated from privilege universities in Viet Nam and abroad. At present, The Company has more than 500 customers spreading all over the country.
For further information, please visit website: http://www.pvfcinvest.vn

For media enquiries:
Mr. Dam Hoang Giang
WVB FISL

+84 (4) 3762 4811

For media enquiries:
Mrs. Mai Thu Giang
PVFC Invest

+84 (4) 3972 6126