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» Business Confidence Index increased 6 points in Quarter III, 2009

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 III, 2009.

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 15 September to the first week in October 2009 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 third quarter this year increased by 6 points over the previous sthe quarter, which also demonstrates a 36 point rise compared to the first index score in third quarter, 2008.

In comparison with the last quarter BCI, the index in this third quarter, 2009 gains only 6 points, a much lower level compared with a 31 point quarter on quarter increase in the second quarter this year. If we only view the survey this quarter in terms of numerical results, we can observe there is almost no improvement from the business confidence of CEOs, business owners compared with the last quarter. However, if we consider this more objectively, we will recognize that the business confidence stayed the same after a recovery period and jumped sharply in the second quarter.  In the light of almost other major economics are concerned about the return of inflation in the last months, this is a good sign of the country’s economy.
Here are some key results for the 06 subcomponents of the WVB-PVFC Business Confidence Index QIII, 2009:

  • 71% think the overall economic conditions have improved compared to one year ago.
  • 77% expect the overall economic conditions will be better over the next twelve months while only about 4% are worried about a dismal economy over the upcoming year.
  • Up to 57% of business expected to increase the total number of employees. Only 1% think they will cut the workforce in their companies but 41% think their company employees will remain the same over the next twelve months.
  • 40% think they will keep the same investment in fixed assets over the next 12 months and 59% think they will continue to invest more.
  • 69% are confident their company’s sales revenues will increase over the next 12 months while and businesses don't have to worry about sales decline of them within 12 months.
  • 71% of businesses believe their profits will increase in coming years. 29% of enterprises say that their profits will remain without any business concerned about the decline of their profits in 12 months.

In this survey, the team survey WVB VN and PVFC Invest also investigate the opinions of the enterprises on the hot issues that businesses are most concerned about the effectiveness of the first demand stimulus package, the necessity of the second package, the nature of the past economic recovery and the market outlook in the near future, the recent signs of economic recovery indicated that the country is escaping from the recession and making progress. According to the results, 54% of enterprises believed that the recent signs of economic recovery indicate the economy in the country is escaping from the recession and making progress. This is a quite high rate, which expresses the firm belief of the enterprises in the economic recovery of the country.
Regarding questions about the effectiveness of the first stimulus package, the results show that the first package is really effective (accounting for 40% of total respondents). In contrast, 48 % of the businesses think that the effect of the package is normal. The rest of interviewees covering only about 13% think that it is ineffective.

Survey Result
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


Component Name

Component Score (percent)


Current economic conditions



Economic outlook



 Expected change in employment



Planned fix investment



Expected revenue growth



Expected profit growth


Respondent breakdown by Sector/Industry         






Transport, shipping, Automobiles & Parts



Oil & Gas


Agri-forestry, Fisheries. Food & Beverages



Health care and education/training


Real Estates, Construction & materials



Trade, Tourism , Consumer services


Financial services, Bank, Insurance





Cosmetics, Chemicals,





Textile, footwear





Electronics,  Electrical Equipment





Industrial equipment, Computer & Software Services, telecommunication





Respondent breakdown by ownership    



100% foreign owned


Joint stock


Joint venture


Limited liabilities


Private owned







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

+84 (4) 3 762 4811

For media enquiries:
Mr. Duong Hoang Trung
PVFC Invest

+ 84 (4) 3972 6126