HSBC: Firms favour ‘home’ as protectionism bitesAlthough rising protectionism is a concern to businesses worldwide, they are optimistic about international business prospects, a new report from HSBC called ‘Navigator: Now, next and how for business’ shows. HSBC's report found that 77 per cent of 6,000 firms surveyed globally are rather optimistic about their international business prospects and expect trade to increase over the next 12 months. An increase in protectionist sentiment has not hampered the optimism of firms globally, but is causing concerns about the cost of doing cross-border trade and international business. In Vietnam, three quarters (67 per cent) of businesses agree that governments are becoming more protective of their domestic businesses. Economic analysis supports the strength of business confidence, pointing to a 7 per cent growth in trade value in 2018 (goods and services combined).

Source: VietNamNet News April 06, 2018 05:48 UTC