More significant than the growth figures themselves is the revival of business confidence across the corporate sector.

During the first half of the year, 169,800 enterprises were newly established or resumed operations nationwide, up 11.2% compared with the same period in 2025.

This renewed confidence is also reflected in the outlook of foreign investors.

According to a survey by the European Chamber of Commerce in Viet Nam (EuroCham), the Business Confidence Index (BCI) in the second quarter of 2026 rose to 79.7 points, up seven points from 72.7 in the first quarter and only slightly below the seven-year record high of 80 points recorded at the end of 2025.

Notably, 54% of EuroCham member businesses continue to regard Viet Nam as a key strategic market and their primary operating base.

It is not only EuroCham that has expressed optimism. The International Monetary Fund (IMF) has recently revised up its forecast for Viet Nam’s GDP growth in 2026 to 7.5%, 0.4 percentage points higher than its April projection of 7.1%, while noting that Viet Nam remains among Asia’s fastest-growing economies and the fastest-growing in ASEAN.

These encouraging indicators suggest that Viet Nam’s investment and business environment continues to improve, while also reflecting the business community’s growing confidence in the country’s economic prospects. The government’s determined reform efforts in recent years have gradually brought improvements to the investment and business climate.

In just over a month, the government issued 11 resolutions aimed at cutting, decentralising and simplifying administrative procedures. Nearly 700 administrative procedures and more than 1,700 business conditions have been abolished, while processing times have been significantly shortened, helping businesses save tens of trillions of Vietnamese dong in compliance costs each year.

More importantly, these reforms are increasingly being translated into stronger market confidence and greater investment momentum among businesses.

The economy’s robust performance in the first half of the year is certainly welcome. However, a more fundamental question is whether today’s positive growth figures are sufficient to build lasting confidence among businesses if institutional bottlenecks are not comprehensively addressed.

Many enterprises continue to report overlapping regulations, while procedures relating to land, investment and construction remain time-consuming. In some localities, old barriers have been removed only for new requirements to emerge during implementation.

What businesses need now is not merely additional support policies, but a transparent, stable and predictable business environment.

This was also the central message emphasised by Prime Minister Le Minh Hung at the government’s mid-July conference with the business community.

He called on ministries, agencies and local authorities to shift decisively from identifying problems to building a stronger foundation for development; from dialogue to resolute action; and from commitments to tangible, accountable and time-bound results, all aimed at sustainably achieving the country’s double-digit economic growth target.

Economic growth can be driven by a range of short-term factors, but confidence can only be built through sustained and consistent reform, a high-quality investment environment, stable policies and effective institutional reform.

When businesses have genuine confidence in the business environment, they are more willing to expand production, pursue innovation and make long-term investments.

That is the solid foundation that will enable Viet Nam not only to sustain its current growth momentum but also to realise its ambition of achieving double-digit economic growth and rapid, sustainable development in the years ahead.

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