Sign up | Log in



Home  >>   Daily News  >>Vietnam>>Economy>>Post TPP outlook bright for VN economy: experts
NEW UPDATES Asean Affairs  15 January  2016  

 Post TPP outlook bright for VN economy: experts

A brighter outlook is forecast for the Vietnamese economy this year and the following years amid difficulties and challenges, according to economic expert Nguyen Quynh Nga.

Nga, deputy head of the Multilateral Trade Policy Department under the Ministry of Industry and Trade, told participants at a seminar on Viet Nam's Socio Economy in 2015 and Opportunity – Challenges held yesterday in Ha Noi, that the Trans-Pacific Partnership (TPP) was expected to be signed on February 4, 2016, in New Zealand, and added that the relevant Vietnamese agencies were preparing a document for the occasion.

Nga said signing free trade agreements with big partners including the US, Japan, the European Union would help Viet Nam to expand its trade relations with countries and boost exports as well as enhance participating regional value chains and service development.

Viet Nam has renewed its economic mechanism, boosted renovation and improved the business climate with a view to attracting more foreign investors.

In addition, challenges facing the country include the reduction in the State budget from import tax and the pressure on competition from foreign service and goods, even as human resource and high-tech quality remain poor.

Can Van Luc, director of BIDV Training School at the Bank for Investment and Development of Viet Nam (BIDV) said Viet Nam would enjoy much more benefits from the TPP once it become effective after two years. The World Bank predicted that Viet Nam's economic growth may increase a further 10 per cent after it joins the TPP.

Luc said Viet Nam and Cambodia would become the largest beneficiaries after the establishment of the ASEAN Economic Community (AEC) in 2015. The country's GDP would grow a further 3.5 per cent thanks to the AEC and it could increase a further 10 per cent after Viet Nam joins the TPP.

According to Luc, all sectors can benefit from the TPP such as textiles, fisheries, infrastructure, and logistics, apart from real estate, steel and timber products, and drugs. Meanwhile, the sectors facing difficulties are automobile, ports, beef, and sugar, in addition to consumer goods, processed foods, and foodstuff and alcohol.

Concerning the outlook for 2016, Associate Professor Trung Thanh of the National Economic University said world economic growth tended to improve thanks to the developed countries such as the US.

This year, Viet Nam's economy will continue to recover as the world economy bounces back stronger than before in which foreign direct investment (FDI) plays an important role, Thanh said.

Viet Nam will participate in the global value chain and receive numerous opportunities from the free trade agreements so as to increase exports and attract more investment capital.

Thanh predicted that in 2016, monetary policy would be narrowed and the exchange rate can be adjusted.

Prices of some commodities would become higher. The increased pressure on public debt and limited participation of private companies due to their poor finance and abilities would influence the country's economy.

Moreover, Viet Nam lacks a long-term motivation for growth, so it needs to renew its growth model and restructure the economy by focussing on important industries. — VNS

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                           January 15 , 2016 Subsribe Now !
• Thai bourse market report for 2015 and December 2015 Subcribe: Asean Affairs Global Magazine
• Post TPP outlook bright for VN economy: experts
• Kingdom’s auto importers cast a wary eye on gov’t tax decree
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Philippines may import up to 1.2m tonnes off rice this year 
Car sales down 21 per cent in 2015
Asean Analysis                   January 8, 2016
• Asean Analysis January 8, 2016
Sunnylands Summit Provides Opportunity to Bolster U.S.-Southeast Asia Ties
Advertise Your Brand

Asean Stock Watch January 14, 2016
• Asean Stock Watch-January 14, 2016
The Biweekly Update
• The Biweekly Update January 8, 2016

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2019 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand