Mr. Herb Cochran adresses an event. (Source: AmCham Vietnam)
The economic models are based on the expectation that Vietnam’s firms will be able to join global supply chains, and that Vietnam’s government will reform its administrative procedures, based on TPP commitments, to make businesses more efficient and Vietnam more competitive compared to neighboring countries, Mr. Cochran told BizNEWS via email.
“We need to cooperate with Vietnam’s business associations and government, at the national and local level, to make sure this happens. Otherwise, Vietnam companies may not benefit so much from TPP opportunities”, he added.
“We are very pleased, and excited, by the successful conclusion of the TPP negotiations. But we also recognize that it will take a lot of work and close cooperation for Vietnam to benefit from the opportunities and challenges that TPP offers”, the executive director said.
He noted that Vietnam will be the greatest beneficiary from TPP. Vietnam’s exports will be 28.4% higher in by 2025 than without TPP, and Vietnam’s GDP would be 10.5% higher, according to economic models.