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Businesses in Vietnam are less likely to expand this year and next because of an "uncertain" economic environment, according to a study by the Vietnam Chamber of Commerce and Industry and the US development agency.
The 9,890 enterprises surveyed from June to September showed that 65 percent intend to increase their businesses in the next two years, compared with 78 percent the prior year.
Business owners are reluctant to expand because "they are uncertain both about economic events outside of the control of Vietnamese policy makers and about the policy decisions of Vietnamese officials themselves," said the report published Friday.
Although figures show that Vietnam has gone through the worst of the financial crisis, business confidence has dropped, the report showed. Small firms were more affected than others, with only 47 percent saying they had plans to expand.
The study, known as the Vietnam Provincial Competitiveness Index, was undertaken by the VCCI and the US Agency for International Development.
Source: Bloomberg
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