The perceptions of European businesses about Vietnam’s business climate fell to 48.0 in the fourth quarter of 2022 but the country remains one of leading investment destinations in the world, according to Chairman of the European Chamber of Commerce in Vietnam (EuroCham) Alain Cany.

The 48-point result was a fall of 14.2 points compared to the third quarter of 2022 and 25 points compared the first, the latest Business Climate Index (BCI) published by EuroCham shows.

The report said that although Vietnam’s economy grew 5.92 per cent in the fourth quarter and 8.02 per cent for the year as a whole, the results come amid continued global economic volatility from a perfect storm of factors such as slowdowns in global growth, interest rate hikes, sustained inflation, and bruised consumer confidence.

However, Mr. Cany said the economic opportunities in Vietnam continued to outperform competitors in the region and the world as many members of EuroCham still consider Vietnam a center of their global investment strategies.

The BCI is the leading indicator of sentiment in the European business and investment community in Vietnam. EuroCham invited its 1,300 members, who represent virtually all sectors of Vietnam’s economy, to provide quarterly feedback on the country’s business environment and forecasts for their own businesses in Vietnam.