Related Keywords: Chinese imports to Vietnam will increase, discourage enterprises to spend money, framework of FTAs, negative impact on Vietnam economy, TTP, Vinatas, yuan weakening
The yuan weakening likely to have negative impacts on Vietnam’s economy in the long term, according to Dang Phuong Dung, deputy chair of the Vietnam Textile and Apparel Association (Vinatas), as Chinese imports to Vietnam will increase in the time to come as a result of the weaker yuan. This will discourage enterprises to spend money to increase their localization ratios. With low locally made content, Vietnamese products will not be able to satisfy the requirements on product origin to enjoy preferential tariffs within the framework of FTAs and the Trans Pacific Partnership (TPP).
