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TPP is the new driving force for economic Vietnam
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TPP is a driving force for Vietnam and structural reforms to liberalize the economy, the fundamental factors contributing to improved productivity and attract investment," - said Fitch
The rules in the TPP will remove tariff barriers, open doors for Vietnam to move further in the major markets of the world such as USA, Canada, Japan, Australia.
Notably, in August last, Vietnam has basically ended negotiations of free trade agreements (FTA) with the European Union (EU). Thus, Vietnam is on the way finishing FTA with 3 of the 4 largest export market is the EU world, Japan and the US.
In recent years, Vietnam has achieved impressive growth thanks to stable FDI inflows. 3Q 2015 GDP growth 6.5% above. Besides, the stability of macroeconomic momentum plus sustainable development are major factors that Fitch raised the credit rating of Vietnam to "BB-" in June 11/2014.
The ability to raise financing from abroad has been the strength of Vietnam in recent years. However high credit growth has boosted demand for imports and the trade balance tightens. Fitch estimates that the current account surplus of Vietnam will be reduced from 5% in 2014 to 1% in 2015.
Hong Lam
According to Young Intellectuals
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18/8/2025
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