With or Without U.S.-Led Trade Pact, Vietnam Forging Ahead
- Government working to improve conditions for small businesses
- Economy has been transformed by boom in foreign investment
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For Vietnam’s government, talk of a collapse in a trade pact stretching across the Pacific Ocean from the U.S. to Malaysia is failing to dent confidence.
Whether the Trans-Pacific Partnership -- a 12-nation preferential trade agreement that covers about 40 percent of the global economy -- is approved by the U.S. Congress or not, authorities in Vietnam are forging ahead with plans to cut taxes and reduce red tape for businesses to make them more globally competitive.