TPP may bring a second investment boom to Vietnam

Vietnam’s “Investment News” reported on December 19 that Vietnam’s Ministry of Industry and Trade said that the Trans-Pacific Partnership Agreement (TPP) negotiating countries hope to conclude negotiations in early 2015. After the TPP is signed, it will help Vietnam maintain a trade balance with its major trading partners and avoid being overly dependent on one country.
According to reports, companies are more concerned about the benefits that the TPP will bring to tariffs. After the TPP is signed, tariffs on some goods, including textiles, will be reduced from the current 17-25% to zero tariffs. Compared with other countries such as Thailand and the Philippines, Vietnamese companies will be more competitive. In addition, the signing of the TPP will attract more foreign investment in Vietnam. Compared with joining the WTO in 2007, Vietnam will usher in a second investment boom.