Small and medium–sized enterprises (SMEs) have been urged to improve their competitiveness amid rapid global integration, to grab opportunities as signs of economic recovery are already emerging in 2015.

Workers make small motors at a factory run by the Mabuchi Motor Vietnam Co. in Dong Nai Province

Bui Thu Thuy, Deputy Director of the Agency for Enterprise Development under the Ministry of Planning and Investment, said at a conference held by the Viet Nam Chamber of Commerce and Industry in Ha Noi on January 27 that SMEs will continue to struggle this year, despite their large contribution of 50% of the GDP.

She added that enterprises should also improve technologies and boost technology transfer to enhance quality, productivity and competitiveness, coupled with the government's support to encourage SMEs to participate in the supply chain.

The restructuring of the financial market, simplification of procedures and provision of preferential loans are also important measures to improve businesses' access to capital, Thuy said.

At the conference, Nguyen Thi Thu Trang, Director of the VCCI's WTO Centre, said that 2015 will be a year of preparation for new policies and a new stage of integration, with the negotiations for the new-generation free trade agreements (FTAs) to be concluded and signed.

Enterprises must understand clearly the opportunities as well as challenges arising from these FTAs in order to outline their strategies, Trang said.