The Hanoitimes - Vietnam is fast becoming one of the world`s factories and the base for large multinational companies producing products or services for the world market, according to Prime Minister Nguyen Xuan Phuc. The Vietnamese government will submit the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreement to the National Assembly for ratifiction next month, stated Phuc as reported by the government portal. Prime Minister Nguyen Xuan Phuc. Source: VGP. In addition to numerous advantages of the CPTPP, Phuc warned more challenges are to come along the way. To implement the regional trade deal, Vietnam would need to revise some legal frameworks, ensuring their compatibilities with the agreement. Moreover, Vietnam have to be able to compete with others for market shares of the member countries in the CPTPP, Phuc said at Vietnam Business Summit (VBS) held within the framework of the World Economic Forum on ASEAN in Hanoi on September … [Read more...] about Vietnam gov’t to seek parliament’s okay for CPTPP next month: PM
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Vietnam to approve CPTPP next month: PM
The Hanoitimes - Vietnam is fast becoming one of the world`s factories and the base for large multinational companies producing products or services for the world market, according to Prime Minister Nguyen Xuan Phuc. The Vietnamese government will submit the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to the National Assembly for ratifiction next month, stated Phuc as reported by the government portal. Prime Minister Nguyen Xuan Phuc. Source: VGP. In addition to numerous advantages of the CPTPP, Phuc warned more challenges are to come along the way. Specifically, the government would need to revise some legal frameworks, ensuring their compatibilities with the agreement. Moreover, Vietnam have to be able to compete with others for market shares of the member countries in the CPTPP, Phuc said at Vietnam Business Summit (VBS) held within the framework of the World Economic Forum on ASEAN in Hanoi on September 13. With efforts of … [Read more...] about Vietnam to approve CPTPP next month: PM
Foreign media: Vietnam, Japan call on US to rejoin CPTPP
Officials of the CPTPP member nations at the deal signing ceremony in Chile last March (Photo: AFP/VNA) Hanoi (VNA) – Vietnam and Japan on September 13 urged the US to rejoin the Trans-Pacific Partnership (TPP) deal, now renamed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), almost two years after US President Donald Trump withdrew from the deal, according to the AFP news agency. The AFP report quoted Japanese Foreign Minister Taro Kono, speaking at the World Economic Forum on ASEAN in Hanoi, as saying that CPTPP members believe that the agreement is still the best option for the US, and that it will be very attractive for US industries and farmers to join it. He added that the pact could be going into effect by the end of the year. Vietnam's Deputy Prime Minister and Foreign Minister Pham Binh Minh echoed Kono's appeal, calling the deal "a very high-standard agreement". The TPP used to be … [Read more...] about Foreign media: Vietnam, Japan call on US to rejoin CPTPP
PPP investment in Vietnam’s infrastructure and impact of EVFTA and CPTPP
Vietnam’s infrastructure has struggled to keep up with its robust economic and population growth. Rapid economic growth and urbanization are driving demand for roads, power, airports, ports, waste and water treatment, hospitals, and other public infrastructure for goods and services. Meanwhile, public funding is unable to meet these needs. The gap would have to be made up from other sources including private investment in the form of public-private partnerships (PPPs). To put it simply, the public sector has the ‘users’ (or customers) and land and can provide other incentives such as tax breaks. The private sector can bring in technology, capital and efficiency through experience. Other countries have successfully implemented PPPs. In Vietnam, a number of tools have been created to assist the government in its support for PPPs, aiming to create a much improved legal framework for PPP to revitalize investment in infrastructure projects. Legal issues update The … [Read more...] about PPP investment in Vietnam’s infrastructure and impact of EVFTA and CPTPP
Malaysian PM reaffirms commitment to CPTPP
Malaysian Prime Minister Mahathir Mohamad (Photo: Xinhua/VNA) Kuala Lumpur (VNA) - Malaysia will go ahead with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), said Malaysian Prime Minister Mahathir Mohamad. PM Mahathir reaffirmed Malaysia’s commitment to the CPTPP involving 11 nations in a recent interview with a Thai television. He said after the US pullout from the CPTPP, the condition which allows companies to sue governments is no longer something Malaysia needs to fear. Also, there is less overwhelming dominance of the US over the other countries. "The previous government had already signed to become a member. We can't withdraw without losing credibility, so we will have to go ahead with the CPTPP," he said. In an immediate response, an official said PM Mahathir's reply was a long-awaited reaffirmation of Malaysia's commitment to the CPTPP and it will clarify Malaysia's trade policy under the Pakatan Harapan government. Malaysia … [Read more...] about Malaysian PM reaffirms commitment to CPTPP