The best replacement for g729 is g729a.

The best alternatives to g729 are rated as following:
★★★★★  g729a
★★★★★  g711
★★★★  ulaw
★★★★  gsm
★★★★  ilbc
★★★  g723
★★★  g722
★★★  pcmu
★  opus
★  speex
  amr
  g711u

Your alternative for g729 is not listed? Suggest!
Speaking about g729, one probably shouldn't forget about vad.

Other search terms related to g729 and their ratings are:
★★★★★ vad
You have in mind a companion for g729 and it is not yet here? Propose!



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g729
g729a
g711