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» The Business Confidence Index increased 23 points in the First quarter of 2022

On April 28, 2022, Vietnam World Vest Base Financial Intelligence Services Company Limited (WVB FISL) published the results of  WVB’s survey about business confidence index for the first quarter of 2022.
This survey is conducted quarterly by WVB Company. Main objects of the survey are companies which have the most well- known brand, the largest number of Total Assets, Total Revenues and Employees. Being performed from the middle of March 2022 to the middle of April, 2022, the survey attracted 166 Companies which active in many different fields in Vietnam, such as: construction, agriculture, forestry, electronics, telecommunications, trading, services…
According to the survey, Business Confidence Index (BCI) in the first quarter of 2022 reached 120 points, increased 23 points compared to the fourth quarter of 2021 and increase 18 points as the same period last year. This shows that the Vietnam enterprises have relatively optimistic about the current economy. Most of the companies have said that the Vietnam's economy is stabilizing and has better future prospects.

Summary survey’s result from 6 parts creating to the Business Confidence Index (BCI) in the First Quarter of 2022 as following:
 - On the general economic situation of Vietnam today: About 48.19%of  participating  enterprises said that the general economy of Vietnam is now better than it was 12 months ago, 40.36% of these participants said that Vietnam economic conditions haven’t changed as of yetand 11.45% complained that economic conditions were less than 12 months ago.
The war between Russia and Ukraine has created a major humanitarian crisis affecting millions of people. At the same time, it is also a shock that has a serious impact on global growth. The increase in prices of commodities, especially crude oil, natural gas and liquefied natural gas, which increased by the most since 2011 has put great pressure on global inflation.
The retail price of thick gasoline has been increased by the Ministry of Finance and the Ministry of Industry and Trade from 3pm on March 1. Each liter of gasoline increases by more than 500 VND. Specifically, gasoline E5 Ron 92 costs 26,007 VND / liter, Ron 95 gasoline is 26,830 VND / liter. This is the highest price ever. The rapidly increasing fluctuations of gasoline prices have had a great impact on transportation costs, logistics, commodity prices, etc. This factor generally makes production and business activities of enterprises more and more difficult, which reduces the competitiveness of enterprises, especially while the Covid-19 epidemic continues to be complicated.

- Prediction of Vietnam’s general an economic situation in the next 12 months: Approximately 72.29% of participating enterprises believed that Vietnam's economy will be better in the next 12 months. 27.71% of these supposed to be unchanged and 0% predicted the future Vietnam's economy in 2023 is worse.
- Plans to use employees: 31.93% of participating  enterprises expected to increase human resources, 57.83% of these expected to remain the same and 10.24% reduce in the future.
- Investment plans for fixed assets: 52.41% of participating enterprises plan to increase the cost of fixed assets; 42.17% of these still have no plan and 5.42% plan to reduce the cost of fixed assets in the next 12 months.
- The faith in the revenue growth: 40.36%  of  participating  enterprises are confident that their revenue will be higher in the next 12 months, 50% of enterprises will remain the same and 9.64% of enterprises are concerned about their sales in the next 12 months.
- The faith in the profit growth: 71.08% participating enterprises believed that Their profit will increase in the following year, 28.92% of enterprises believed that profit will remain unchanged and 0% of enterprises are concerned about the decline in profits in the next 12 months.
Decree 15/2022/ND-CP reducing value-added tax to 8% from February 1, 2022. Decree 15/2022/ND-CP dated January 28, 2022 stipulating the tax exemption and reduction policy according to Resolution 43/2022/QH15. The policy of reducing VAT by 2% will help businesses and people alleviate some of their economic difficulties and create momentum for recovery from the impact of the Covid-19 pandemic. Therefore, up to 54.17% of surveyed enterprises believe that this policy has strongly supported businesses in difficult times.

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About World Vest Base
Established in 1985, in Chicago, USA, World' Vest Base (WVB) has become 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.
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