New-generation FTAs to have comprehensive impact on Vietnam's economy
(VOVWORLD) - New-generation free trade agreements will bring about new prospects for Vietnam’s economic growth. Researchers have gathered in a workshop co-hosted by the National Center for Social Economic Information and Forecast and the Embassy of Ireland to review opportunities and challenges emerged from new FTAs.
The center’s Deputy Director, Dang Duc Anh, expected further investment, exports and scientific application: "If Vietnam holds on its current growth model, potential growth rate would be around 7%. This remains a challenge given adverse international economic context. If Vietnam seizes opportunities generated by the Industry 4.0, its national economy could possibly grow at a higher pace and enjoy better competitiveness and economic performance.”
New-generation FTAs including the EU-Vietnam Free Trade Agreement and the CPTPP are expected to boost Vietnam's exports and GDP growth rate.