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SMEs must adapt for global competition: economic expert (18/12)
06/08/2010 - 193 Lượt xem
Vietnamese firms will no longer be treated differently and will be able to assess their competitiveness when the country joins the WTO, said Cao Sy Kiem, deputy director of the Party Central Committe’s Economic Commission.
Kiem, who is also chairman of the small and medium enterprise (SME) association said most-favoured-nation status and the ability to trade normally would allow Vietnamese enterprises - particularly SMEs, which account for 99 per cent of the companies in the country - to assess their worth on the world stage.
SMEs should invest in new technology and improve the quality of their products, said Kiem, adding that when Viet Nam joins the world community domestic companies would be able to identify their shortcomings and advantages, which would enable them to become more efficient and to produce better-quality products.
Kiem added that Vietnamese companies must ensure they understand international law and meet international standards to avoid trade disputes. Many SMEs lacked the capital, the technology and the know-how needed to compete on the international stage, said Kiem.
"As a result, their products are of poor quality and are failing to meet customers’ needs,"he said.
Kiem said the SME association could provide enterprises with the support and advice they needed, but warned that companies that could not come up to standard would inevitably fail.
Source: Vietnam News
