Investment News

BIDA publishes COVID-19 survey findings

Jan 19, 2021

BIDA has published the findings of its survey on registered businesses of BIDA. The survey conducted in June last year was a systematic monitoring approach to learn the impacts of the pandemic on business activities, business confidence and policy expectations. The survey questionnaire and report have been developed with technical support from IFC.

The online survey was able to reach 748 businesses thanks to the BIDA officials who systematically corresponded with respondents. BIDA selected sample by applying “random-sampling” on registered businesses, including 100% foreign, domestic and joint ventures.

Key findings

Domestic businesses seem to be amongst the hardest hit in COVID-19Majority of JVs expected sharp declines in revenue, net income and liquidity over the next 3 months 100% foreign companies expressed concern over revenue/net income losses While domestic businesses took the highest hit and a good number of them experienced positive impact, foreign investment showed more resistanceWhile majority of businesses experienced supply chain disruptions, 100% Foreign and JV were impacted lessJV and 100% foreign companies retained more jobs compared to domestic businesses. However, domestic businesses reported higher job creationWorker productivity plunged during COVID-19, says majority businessesDomestic and JV businesses take lead in demand for stimulus allocationRevenue performance during COVID-19 is overwhelmingly negative for majority domestic, 100% foreign and joint ventures  Despite the adversities of COVID-19, over 90% businesses showed high confidence