Five years after
joining the WTO, Vietnam’s GDP per capita reached $1,300, and its export market
have been expanded to 149 WTO economies.
Vietnam’s export turnover last year, over $96 billion, was double
2007’s figure.
The information was unveiled at a seminar on March 9 to discuss the
competitiveness of Vietnamese businesses after five years in the WTO.
The event was co-organized by the Communist Review and the Ministry of
Industry and Trade.
According to economists, after five years of WTO membership, the number
of enterprises has increased 2.3 times and 7.3 times in registered capital
compared to 2007. Many local businesses have affirmed their foothold in
regional and international markets by penetrating demanding markets. As of
2010, Vietnam has had 19 traditional markets with export turnover reaching more
than $1 billion.
Export turnover grew by more than 19 per cent on average from 2007 to
2011 compared to 18 per cent before Vietnam's entry to the largest trade
organization.
Economists also agreed that after WTO admis;sion, Vietnamese
businesses’ competitiveness has improved remarkably. However, they still reveal
weaknesses such as small- scale operation, low capacity of applying science and
technology, and limited market share. Many businesses have failed to work out a
competitive strategy to affirm their prestige and quality in the region and the
world.
Cao Sy Kiem, President of the Vietnam Association of Small and
Medium-sized Enterprises (SMEs), said that although SMEs have developed
rapidly, they have not been fully equipped with capital sources, advanced
technology, highly-skilled human resources and business administration
experience, putting them in a fix to ensure the quality of product design and
competitive prices, even in the domestic market.
To improve the competitive edge of SOEs in the future, it is necessary
to restructure state owned enterprises (SOEs) by eradicating weak enterprises,
strengthening inspection and training qualified business administration
managers.
VOV
Business & Investment Opportunities
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