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Mr. Kenneth Atkinson, Founder and Senior Board Adviser at Grant Thornton Vietnam, shares his thoughts about Vietnam's Optimism Soars as Global Recession Fears Subside based on International Business Report's finding.

Grant Thornton Vietnam is pleased to release Grant Thornton International's Women in Business Report 2024, marking 20 years of surveying on women senior management in mid-market companies globally.

A Dragon in Chinese culture is a mythical, auspicious, and supreme being/creature. In Chinese mythology, Dragons have great power to control wind and rain, soar through the skies, and turn over rivers and seas, as well as bringing prosperity to the world.

Last November, Vietnam legalised rules regarding the introduction of global minimum tax (GMT). It is set at 15 per cent in Vietnam for enterprises considered as constituent entities of multinational corporations (MNCs) with consolidated revenue from €750 million (around $815 mil- lion) in two of four consecutive years.

Grant Thornton’s latest International Business Report survey indicated that the ambition for cross-border trade among mid-market businesses in Vietnam reduced remarkably as a result of the global economic slowdown.

Do Vu Bao Khanh of Grant Thornton Vietnam explains that Vietnam’s intention to implement the OECD global minimum this year will have repercussions for multinational enterprises investing there and for the country’s tax policy.

Mr. Kenneth Atkinson, Founder and Senior Board Adviser at Grant Thornton Vietnam, shares his thoughts with VET on FDI inflows in 2023 and what can be expected in 2024. FDI capital to Vietnam reached $28.85 million in the first eleven months of 2023. How do you view Vietnam’s FDI attraction in 2023 and the prospects for 2024?

Economic development has always been associated with urbanisation and this should be put into context. In 1950, the world had only reached an urbanisation rate of 30 per cent, and 2007 was the first year when more than half the world's population had moved to live in cities. In Vietnam, the level of urbanisation is reported at 38 per cent, which is the same rate as Europe was at the end of World War II.

Results of Grant Thornton’s latest International Business Report survey found that more mid-market companies in Vietnam are aiming to remarkably increase investment in technology, human resources, and R&D in the next 12 months, compared to second half of last year. This upward trend in Vietnam also aligns with the global results of the survey, reflecting the awareness and desire of maintaining competitiveness among firms despite continuing economic uncertainty.

The latest data from the International Business Report (IBR), Grant Thornton’s global survey of mid-market companies, shows that business leaders plan to increase investment over the next 12 months. Despite firms in many countries dealing with the highest interest rates they have seen in years (making credit more costly), investment intentions are up in every category compared to last year.

The latest data from the International Business Report (IBR), Grant Thornton’s global survey of mid-market companies, shows that business leaders plan to increase investment over the next 12 months. Despite firms in many countries dealing with the highest interest rates they have seen in years (making credit more costly), investment intentions are up in every category compared to last year.

Grant Thornton Vietnam is pleased to release Grant Thornton International's Women in Business Report 2024, marking 20 years of surveying on women senior management in mid-market companies globally.

According to Grant Thornton's latest International Business Report (IBR), a leading global survey of mid-market enterprises, business sentiment among mid-market firms globally has improved since the previous survey in the same period of second half of 2022. Particularly, in the US market, confidence has increased significantly, with 70% of mid-market firms expecting profits to increase in the next year, up 6% compared to the second half of 2022.

Optimism among global mid-market business leaders rose from 59% to 67% in the first half of this year, according to the latest data from Grant Thornton’s International Business Report (IBR). Although the worldwide numbers hide significant regional variation, every region has an improved outlook compared to where they were last year.

As the global economy continues to display what the IMF calls “remarkable resilience,” mid-market business leaders are being emboldened to explore new export markets in the search to add growth to their revenues. [i]

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