Ho Chi Minh City, April 27th, 2020
Vietnam has shown positive results in disease containment and started to ease social distancing measures from April 23rd. However, the COVID-19 pandemic has raised heightened concerns on the business environment and prospect of many businesses and industries.
CBRE Vietnam conducted a flash survey of 180 occupier clients, from 9 to 10 April 2020, in order to gauge the industry response to the COVID-19 outbreak.
According to the results:
A broader survey, which reviewed occupiers’ opinions in the Asia-Pacific region, found that the retail industry was significantly impacted by the disease, with many stores suspending their expansion plans. Such delays in rental decision will have a lasting impact on the following months. However, 24% of participants in the region still expected revenue growth in 2020, of which the Information Technology industry is the most optimistic.
According to Ms. Thanh Pham, Associate Director of CBRE Vietnam: “There will be many new trends on Business Continuity Planning that occupiers will focus on in the coming time. Companies are now more aware of the importance of evaluating and developing effective office use/allocation strategies. The application of technology will be a leading factor in various industries, including the technology industry. More than half of occupiers in finance and banking sector are considering splitting up their teams across multiple buildings.”