Seminar addresses benefits of the TPP
(VOV) - The National Institute for Finance (NIF) in collaboration with the US Agency for International Development (USAID) organized a seminar on June 19 in Hanoi to discuss the impact of the proposed Trans-Pacific Partnership (TPP) on the nation’s tax collections.
According to Dr. Inkyo Cheong, Professor of Economics at Inha University in the Republic of Korea (RoK), the methodology to assess the full impact of the TPP on state revenues is an inherently complex task, but that they could potentially increase 20-30%.
To maximize the benefits, he suggested the government strive to improve infrastructure and devise policies to support small businesses in developing an appropriate strategy to benefit from the trade pact.
Dr Nguyen Duc Thanh, director of the Vietnam Centre for Economic and Policy Research, in turn underscored the importance of the business community and small businesses, which are the engines driving the country’s economic growth.
Truong Ba Tuan, NIF deputy director, said international integration will boost economic growth and exports but also affect domestic production. Therefore, the government should perfect policies to support businesses.