SMEs believe in decisive role for national development

A majority of Vietnam’s small-and medium-sized enterprises (SMEs) believed in their decisive role for the future of the national economy and their business development prospects.

The result was indicated in an annual survey on Asia’s business situation conducted by the world’s leading transportation group UPS called Asia Business Monitor (ABM) which was announced on September 29.

The 2010 ABM was conducted on around 1,350 leaders of SMEs from 13 countries and territories, including Australia, China, Hong Kong, India, Indonesia, Japan, the Republic of Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. This was the first time Vietnam took part in the survey.

According to the survey, 59% of Vietnamese SMEs showed their optimism about further development of the Asia-Pacific economy, 9% said the regional economy sees a downward trend and the remaining 32% said it will remain unchanged.

Vietnam was the second optimistic market in the region in business development prospect in 2010 with 72% of interviewed businesses saying their companies will reap better results this year. Indian businesses are the most optimistic about this prospect with 85%.

Although nine out of ten Vietnamese SMEs pay attention to business activities in the Asia-Pacific market, they also expect their growths in other regions. Eighty-one% of surveyed businesses forecast that Vietnam’s business activities will increase 61% in North American and 60% in Europe.

Fifty-eight% of Vietnamese SMEs said international business has positive impacts and opens up new opportunities for their operations. They added that architecture-construction, information technology and tourism will be key sectors in 2010.

Although the national economy is forecast to keep growing this year, Vietnamese businesses are facing a lot of challenges, particularly, high credit interest rate and competitiveness pressure.

Vietnam’s SMEs said the government’s supportive polices are very necessary for them to improve their competitiveness. – VOV

Tags: Vietnam companies, Vietnam enterprises, Vietnam SMEs

Posted by VBN on Sep 30 2010. Filed under Economy News, Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry