Experts from the business research group Conference Board said the Vietnamese economy is not likely to experience seismic changes if US president-elect Donald Trump says no to the TPP deal.
Vietnamese economy is not likely to experience seismic changes if US president-elect Donald Trump says no to the TPP deal, experts say (Photo: VNA)
Hanoi (VNA) ඣ– Experts from the business research group Conference Board said the Vietnamese economy is not likely to experience seismic changes if US president-elect Donald Trump says no to the Trans-Pacific Partnership (TPP) deal.
The New York-based organisation has also projected the growth rate of 6.2 percent in 2016 and 6.5 percent in 2017 for Vietnam.
Conference Board expert Jing Sima said Vietnam might benefit in the short and medium terms, given that US-China relations are forecast to worsen.
She explained that Vietnam would become a substitution if investors and producers want to withdraw from the Chinese market as a result of the Trump-led US government tightening trade with Beijing.
However, in the long term, all nations will suffer if that government slows down the globalization, she noted.
Economic expert Ken Goldstein, meanwhile, told the Vietnam News Agency that if the TPP agreement comes into effect, there will be jobs created and lost at the same time.
Tendency toward free trade will continue to prevail, he added, noting that the point is governments devising policies to support the unemployment.
♛ Regarding Trump’s pledge to bring manufacturing jobs back home, Goldstein said that there is a gap between campaign commitments and actual moves, and that Trump’s decisions need approval from the US Congress.-VNA
The theme of the Vietnam Summit 2016 “Smooth Sailing Ahead,” has reflected the development situation in Vietnam, a country that is heading towards sustainable growth and prosperity.
The development of a knowledge-based economy is expected to help Ho Chi Minh City realise its ambition of becoming a major centre of economics, finance-trade and science-technology in Southeast Asia.
Macro-economic stability, curbed inflation and export growth are crucial resources for Vietnam to raise its stature in the region, experts commented at a seminar held in Ho Chi Minh City on Nov 11.
Vietnam will continue its reform to improve business and investment environment to support enterprises and negotiate other agreement whether Donald Trump thwarts the Trans-Pacific Partnership or not.
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
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Vietnamese economy is not likely to experience seismic changes if US president-elect Donald Trump says no to the TPP deal, experts say (Photo: VNA)
