How the Trans-Pacific Partnership benefits Vietnam’s economy

An article in Thanhniem News (March 28, 2016) titled “How the Trans-Pacific Partnership benefits Vietnam’s economy” (http://www.thanhniennews.com/commentaries/how-the-transpacific-partnership-benefits-vietnams-economy-60650.html) describes the impact that the TPP will have on Vietnam’s future growth. Three main benefits are analyzed: 1) Large trade volumes with the US and Japan, 2) Competitive manufacturing environment, and 3) Tariff cuts of key export and import products. It is expected that thanks to the TPP, Vietnam’s total export will increase by USD 68 billion by 2025, and that the Foreign Direct Investment to Vietnam will reach around USD 20 billion by 2020. As the TPP agreement is implemented, key export manufacturing sectors such as textile & garment, footwear and fishery will enjoy rapid growth. How will lead industry players define strategies to capitalize on Vietnam’s manufacturing sector as the Asian country boosts its economic growth thanks to the TPP?

 

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