Vietnamese business community is placing new expectations in 2015 amidstthe deeper economic integration into the world and toughercompetitiveness, the Nhan Dan (People) online newspaper reported.

Alongwith the recovery of the whole economy in 2014, production and businessactivities also saw improvements despite a high number of dissolved andsuspended enterprises.

According to the General StatisticsOffice (GSO), nearly 15,500 enterprises resumed business operations in2014, up 7.1 percent compared to 2013.

Over 74,400 enterprisesregistered to establish with a total registered capital of over 432trillion VND (20.3 billion USD), down 2.7 percent in number ofenterprises but up 8.4 percent in registered capital. The averageregistered capital per new enterprise in 2014 was 5.8 billion VND(272,600 USD), an increase of 11.5 percent against the previous year.Newly-established enterprises in 2014 also created jobs for more thanone million people, up 2.8 percent over the previous year.

Theyear 2014 also witnessed more than 67,800 dissolved enterprises but GSODirector Nguyen Bich Lam said that this was not a worrisome number as93.7 percent of them had capital less than 10 billion VND (470,000 USD).

Lam said that Vietnamese enterprises are in the screeningprocess under the market rules which eliminate weak ones. Thus, thebankruptcy of enterprises also helps restructure the economy, clean upthe business environment and be the basis for the sustainabledevelopment, the GSO Director affirmed.

Looking back on 2014, itcan be said that it was a difficult year for many enterprises. Van DucMuoi, General Director of Ho Chi Minh City-based food producer Vissan,said that the Government has built trust in the business communitythrough commitments on administrative reform in the field of economy.However, enterprises, particularly small-and medium-sized enterpriseswith weak distribution networks met lots of difficulties in sellingproducts as consumers continued to be sparing with shopping, coupledwith the economic recession and limited public investment in tradeinfrastructure.

2015 will witness big changes in policies andinstitutions with the revised Law on Investment and revised Law onEnterprises, the two 'backbone' laws for the economic activities. Thetwo laws are expected to reduce administrative procedures and enhancethe freedom right of doing business and the role of enterprises.

In2015, Vietnam will also participate in the ASEAN Community and othereconomic agreements which forces enterprises to change themselves andmake the economy more dynamic.

Le Phuoc Vu, Chairman of the Boardof Directors of Hoa Sen Group said extensive economic integration willhelp enterprises to expand trade transaction, attract investment, boostexports, cut cost and improve their competitiveness. Besides advantages,Vietnamese enterprises will face tougher competition even in their homemarket which requires them to put forth appropriate businessstrategies.

Chairman Vu suggested the Government have a mechanismto ensure the harmony of interests between domestic and foreignenterprises operating in Vietnam. It is also crucial to fight againstthe counterfeit goods to protect enterprises and consumers. TheGovernment should work closely with enterprises to facilitate theirexport activities amidst the upward trend of protectionism through tradebarriers, added Vu.-VNA