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» Business Confidence Index increased 3 points in Quarter I, 2010

Business Confidence Index increased 3 points in Quarter I, 2010

Hanoi, 12th May 2010. Today, Vietnam WVB Financial Intelligence Services (WVB Vietnam) with PetroVietnam Finance Investment and Consultancy Company (PVFC Invest) jointly announced the WVB-PVFC Invest Business Confidence Index (BCI) for Quarter I, 2010.

This survey is jointly conducted quarterly by the two companies WVB Vietnam and PVFC Invest. The survey participants are the country’s leading enterprises regarding branding, total assets, total revenue, and number of employees across various industries in Vietnam. This survey extended from 12th April 2010 to the first week in May 2010 attracted the participation of 143 companies across 11 primary sectors and industries of Vietnam. Half of survey participants selected also is Small and Medium Enterprises (SMEs) as representatives of Vietnamese SMEs.

According to this survey results, the business confidence index (BCI) in the First Quarter of 2010 represents a 3 point increase over the Fourth Quarter of 2009, which also demonstrates a 38 point rise compared to the first index score in the Third Quarter of 2008.

The index in this First Quarter of 2010 increased only 3 point as compared with the last quarter (Fourth Quarter of 2009) partly reflecting the improvement from business confidence of business owners in the early months of the year

Here are some key results for the 06 subcomponents of the WVB-PVFC Business Confidence Index in Frist Quarter of 2010:

• 80% think the overall economic conditions have improved compared to one year ago.
• 89% expect the overall economic conditions will be better over the next twelve months while only about 1% is worried about a dismal economy over the upcoming year.
• Up to 52% of business expected to increase the total number of employees. Only 2% think they will cut the workforce in their companies but 46% think their company employees will remain the same over the next twelve months.
• 50% think they will keep the same investment in fixed assets over the next 12 months and 48% think they will continue to invest more. Only 2% think they will reduce investment in fixed assets over next 12 months.
• 78% are confident their company’s sales revenues will increase over the next 12 months, 22% think their company’s sales will keep the same.
• 71% of businesses believe their profits will increase in coming years. 28% of enterprises say that their profits will remain and 1% of enterprises are worried about the decline of their profits in 12 months.

The team survey WVB Vietnam and PVFC Invest also investigate the opinions of the enterprises on the significant issues their companies are facing in Vietnam such as impacts of domestic credit market and the major factors create changes in business confidence for business owners. More than half of businesses think that access to the domestic borrowing has become more difficult compared to 2009, and the majority of enterprises think the factors that influence essentially to their business confidence in the first quarter of 2010 is the changes of market demand, changes of production costs and the volatility of investment opportunities.

Survey Result
WVB-PVFCI Business Confidence Index Score- QI/2010:                  138
WVB-PVFCI Business Confidence Index Score- QIV/2009:     135
WVB-PVFCI Business Confidence Index Score- QIII/2009:     136
WVB-PVFCI Business Confidence Index Score- QII/2009:      130
WVB-PVFCI Business Confidence Index Score- QI/2009:         99
WVB-PVFCI Business Confidence Index Score- QIV/2008:      93
WVB-PVFCI Business Confidence Index Score- QII/2008:     100

Respondent breakdown by Sector/Industry         

Respondent breakdown by ownership    

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:
Mrs. Nguyen Khanh Ngoc
WVB FISL

+84 (4) 3 762 4811

For media enquiries:
Mr. Duong Hoang Trung
PVFC Invest

+ 84 (4) 3972 6126