Download A great opportunity for Vietnamese economics for reducing taxes

JOURNAL OF TESOL, VOL. 1 (1), 2016
01/30/2016
A great opportunity for Vietnamese economics for two main reasons: reducing taxes and
extend the export market
Nguyen Ngoc Thao Vy
According to Pham Quoc Tru (2010), in 11/ 2006, Viet Nam was admitted to World
Trade Organization (WTO). Since then, that has given the economy of Viet Nam many
advantages and opportunities to improve the economy. Recently, Vietnam government has
tried to get Vietnam into the world trade markets by entering the TPP (Trans-Pacific
Strategic Economic Partnership Agreement) among 12 countries. Many people are happy
and hope that this event will help increase the Vietnamese economics as well as enhance
the GDP of the nation. However, some people still suspect for the adverse effects of it on
the Vietnamese farmers and the competition of the domestic companies. In fact, I think this
is a great opportunity for Vietnamese economics for two main reasons: reducing taxes and
extend the export market.
First, there is no doubt that when Viet Nam join in TPP, we will get many benefits
from reducing taxes on imported goods of TPP countries. As stated in the article “Lợi ích
từ việc giảm thuế hàng nhập khẩu và lợi ích khác” (2015), the consumers and the industries
which use imported raw materials from these countries as input raw materials will benefit
from cheap goods and cheap raw materials. This will help lessen production costs and
improve competitiveness index. Vietnamese people can also access to good qualified
foreign products with a low price. In short, we will get many benefits from reducing taxes
on imported goods after joining in the TPP.
Second, when Viet Nam participate in TPP, we can extend the export market in
many foreign countries. Especially, it is Vietnamese agricultural product in the export
market. Pham Thi Thanh Binh claimed that after joining in TPP, Viet Nam will access
deeply to two largest economies. Not only that, Tung Lam (2015) said that international
capitals into Viet Nam will increase drastically, which creates an opportunity for the
banking system to reinforce the liquidity and access to the international capital sources
with a low price. To sum up, by taking part in the TPP, our country can access to many
large economies and extend our export market.
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JOURNAL OF TESOL, VOL. 1 (1), 2016
01/30/2016
However, some people believe that there will be the adverse effects of it on the
Vietnamese farmers and the competition of the domestic companies if Viet Nam joins in
the TPP. Typically, as reported by Ngoc Le (2015), Vietnamese farmers will cope with
seven risks before joining in The TPP. There are Rag producing, taking high risks, the
Weak resistance of trauma ability, Weak informational access, Low commercial ratio,
Unlink to the value sequence, Not satisfying the standard and quality in products. Although
those risks are unavoidable, Viet Nam still has to take this opportunity to be a member of
TPP. According to Ngoc Le (2015), Ph.D. Thang said that in order to help the Vietnamese
farmers, it needs creating conditions to improve competitive ability, apply technological
science, produce basing on standard, promote the commerce and investment for them.
In conclusion, participating in the TPP will be a great opportunity for the economy
of Viet Nam. First, Viet Nam get benefit from reducing taxes on imported goods. Besides,
Viet Nam can also extend the export market in many foreign countries. Therefore, I think
it is important for Viet Nam to join in the TPP (Trans-Pacific Strategic Economic
Partnership Agreement).
References
Bình, P. T. (2015, Sep. 07). TPP - Cơ hội và thách thức đối với Việt Nam. Retrieved Jan.
15, 2016, from Tạp Chí Tài Chính: http://tapchitaichinh.vn/nghien-cuu--traodoi/trao-doi-binh-luan/tpp-co-hoi-va-thach-thuc-doi-voi-viet-nam-68758.html
Lâm, T. (2015, Oct. 06). Cơ hội và thách thức khi Việt Nam gia nhập TPP. Retrieved Jan.
15, 2016, from Nhân Dân: http://www.nhandan.com.vn/kinhte/tintuc/item/27622002-co-hoi-va-thach-thuc-khi-viet-nam-gia-nhap-tpp.html
Lê, N. (2015, Dec. 12). 7 bất lợi của nông dân Việt khi tham gia TPP. Retrieved Jan. 15,
2016, from Dân Việt: http://danviet.vn/nha-nong/7-bat-loi-cua-nong-dan-viet-khitham-gia-tpp-647242.html
Lợi ích từ việc giảm thuế hàng nhập khẩu và lợi ích khác. (2015, Oct. 16). Retrieved Jan.
15, 2016, from HIỆP ĐỊNH TPP MỚI NHẤT NĂM 2015:
https://hiepdinhtpp.wordpress.com/2015/10/16/loi-ich-tu-viec-giam-thue-hangnhap-khau-va-loi-ich-khac/comment-page-1/
Trụ, P. Q. (2010, Mar. 25). Phạm Quốc Trụ, KINH TẾ VIỆT NAM SAU BA NĂM GIA
NHẬP WTO. Retrieved Jan. 15, 2016, from Nghiên Cứu Biển Đông:
http://nghiencuubiendong.vn/toan-cau-hoa-hoi-nhap-kinh-te/824-phm-quc-tr
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