German Businesses Appreciate Vietnam's Prompt, Effective Response to Covid-19

To assess novel Coronavirus (Covid-19)’s impacts on the German business community in Vietnam, the German Chamber of Industry and Commerce in Vietnam recently conducted a seven-question survey into 84 German investors from various sectors in the country.

The survey showed that the majority of German businesses (76%) are currently affected by the coronavirus outbreak. All scenarios concerning coronavirus developments show significant impacts on economic growth prospects in general and on business performances of German enterprises in Vietnam in particular. 55% of respondents have taken preventive measures to cope with the coronavirus epidemic in Vietnam.

One urgent measure that businesses are currently adopting is ending all business trips to China (47%), while 38% only stop part of their business trips. 38% temporarily do not receive customers and partners from China to make sure that their prevention and control measures work. 41% restrict the reception of customers who have just returned from China or transited in China. Other foreign visitors who do not go through China nor visit China are still welcomed (52%). 38% of businesses restrict business trips to countries with coronavirus infections.

Regarding the effectiveness of the Vietnamese government's preventive measures, 44% of German investors said that the response by the Vietnamese government is timely and effective, thus supporting them to minimize adverse impacts on business operations and employee health. 36% find that policies somewhat assist them in coping with coronavirus.

In addition, German investors expressed their recommendations, aspirations and requests to have better understanding and updates on current situations as well as change their business plans in the coming time in Vietnam. Most companies are optimistic about the chance to overcome this tough time.

By Thu Ha, Vietnam Business Forum