DaiViet
FULL MEMBER
- Joined
- Oct 12, 2013
- Messages
- 557
- Reaction score
- 0
- Country
- Location
tpp puts Vietnam on the bright pot
according to the latest data, Vietnam's economy received a boost from lower energy costs and increased foreign investment. The nation's central bank is also well situated in commencing more easing strategies in the event of an economic downturn. Vietnam's central bank devalued the dong, increasing exports and foreign investment.
The central bank is prepared to contend with setbacks, but business activity surged 29 percent from January to September. Vietnam's economy also grew 6.3 percent, the fastest rate since 2008, and the Asian Development Bank notes that Vietnam is set to become the fastest growing Southeast Asian country. The nation's economic transformation has had positive effects on poverty, with extreme poverty potentially falling to 1.0 percent by the time 2017 arrives. This is astounding news when considering Vietnam's history of rampant disease and instability, and such improvements have attracted more tourists.
Vietnam also gained strength by becoming a stronger competitor against other world markets. Unlike Malaysia and Indonesia, for instance, Vietnam took steps in diversifying exports and attracting a wider consumer base. Further, Vietnam poses a greater threat to the Chinese. China's market and economic troubles received much of the focus, but more investors are turning away from the Chinese and looking to other emerging markets.
China is still an emerging market, but undercutting the Chinese are markets that offer low-wage workers and a friendlier investment atmosphere, most notably Vietnam. Foreign investment surged by 53 percent in the past nine months in Vietnam. Moreover, Vietnam's investment surge has been a good buffer against lower demand from China.
Vietnam's reliance on the Chinese economy lessened in the wake of the Trans Pacific Partnership Agreement (TPP), which is an agreement of various trading guidelines and lower tariffs. The trade deal has been veiled in secrecy and controversy, but TPP will give nations such as Vietnam a leg up because international markets will have greater access to Vietnamese goods.
Industry minister Vu Huy Hoang stated that he expects TPP to increase exports by $68 billion by 2025 in his country, including a GDP rise of $23.5 billion by 2020, notes Zacks. In fact, experts peg Vietnam as the number one nation that will benefit from TPP.
Vietnam is also committed to pollution reduction, pledging to slash emissions by 8.0 percent by 2030. Like China, Vietnam recognizes that pollution mitigation is a good way to attract more foreign investment and integrate further into the world community.
according to the latest data, Vietnam's economy received a boost from lower energy costs and increased foreign investment. The nation's central bank is also well situated in commencing more easing strategies in the event of an economic downturn. Vietnam's central bank devalued the dong, increasing exports and foreign investment.
The central bank is prepared to contend with setbacks, but business activity surged 29 percent from January to September. Vietnam's economy also grew 6.3 percent, the fastest rate since 2008, and the Asian Development Bank notes that Vietnam is set to become the fastest growing Southeast Asian country. The nation's economic transformation has had positive effects on poverty, with extreme poverty potentially falling to 1.0 percent by the time 2017 arrives. This is astounding news when considering Vietnam's history of rampant disease and instability, and such improvements have attracted more tourists.
Vietnam also gained strength by becoming a stronger competitor against other world markets. Unlike Malaysia and Indonesia, for instance, Vietnam took steps in diversifying exports and attracting a wider consumer base. Further, Vietnam poses a greater threat to the Chinese. China's market and economic troubles received much of the focus, but more investors are turning away from the Chinese and looking to other emerging markets.
China is still an emerging market, but undercutting the Chinese are markets that offer low-wage workers and a friendlier investment atmosphere, most notably Vietnam. Foreign investment surged by 53 percent in the past nine months in Vietnam. Moreover, Vietnam's investment surge has been a good buffer against lower demand from China.
Vietnam's reliance on the Chinese economy lessened in the wake of the Trans Pacific Partnership Agreement (TPP), which is an agreement of various trading guidelines and lower tariffs. The trade deal has been veiled in secrecy and controversy, but TPP will give nations such as Vietnam a leg up because international markets will have greater access to Vietnamese goods.
Industry minister Vu Huy Hoang stated that he expects TPP to increase exports by $68 billion by 2025 in his country, including a GDP rise of $23.5 billion by 2020, notes Zacks. In fact, experts peg Vietnam as the number one nation that will benefit from TPP.
Vietnam is also committed to pollution reduction, pledging to slash emissions by 8.0 percent by 2030. Like China, Vietnam recognizes that pollution mitigation is a good way to attract more foreign investment and integrate further into the world community.
