Viet Nam stands to gain the most among 12 countries concluding the Trans-Pacific Partnership (TPP) deal’s negotiation early this week, said the Los Angeles Times on October 8.

The US-based daily newspaper quoted the Peterson Institute of International Economics as saying that Viet Nam’s textile-garment and footwear sectors are very likely to boom once the TPP is effective. The pact will let the country ship many products tariff-free to a market where members together constitute two-fifths of the global trade.

The garment sector is likely to boom once the Trans-Pacific Partnership (TPP) is effective. (Photo: VNA)

The nation is also improving its tax and investment policies, developing infrastructure and pursuing other trade pacts to entice more investments, the newspaper noted.

Investment bank Goldman Sachs forecast that Viet Nam’s economy will jump from the 55th largest in the world to the 17th by 2025 with the gross domestic products (GDP) of 450 billion USD, up from 186 billion USD currently.

Sandeep Mahajan, the World Bank’s Lead Economist for Viet Nam, believed Viet Nam is among “the more competitive destinations” for overseas investors in the region.

(Source: VNA)