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ECONOMIC HIGHLIGHTS OF THE WEEK

The Ministry of Finance said, there are a lot of financial commitments in the TPP, such as import tax, export tax, financial services and customs. Specifically, Related to import tax, the Finance Ministry said that Vietnam is committed to a common tax for all TPP countries, of which over 65% of all tax lines will be eliminated import tax immediately after entry force and nearly 98% of taxlines after 10 years; The remaining items on the 10-year roadmap or application of taz quotas (TRQ).

Foreign Investment Bureau (Ministry of Planning and Investment): incorporated in the May 10, 2015, total registered capital of newly added Korean and Vietnam are at 6.221 billion dollars. Korean investors have invested in 16 industry sectors, including the fields of industrial processing and manufacturing sector is attracting the interest of Korean investors with total capital of 5.633 billion dollars, occupying for 90.5%. It is followed by manufacturing sector, power distribution and field Wholesale, retail, repairs

US President Barack Obama affirmed Trans-Pacific Strategic Economic Partnership Agreement  (TPP) will help boost US economic growth, while ensuring the rights of workers and environmental protection. He also affirmed the TPP would create a level playing field for American businesses, while emphasizing the TPP is not only to remove obstacles to trade which creates difficulties for small businesses of America, but also set out the rules about the rights of American workers. Remarks by President Obama came shortly after the United States and 11 Member States simultaneously announced TPP TPP agreement Full Text

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