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Vietnamese chart new paths for expansion as TPP hopes fade

Soon to assume office of the US president, Donald Trump had in his election speech vowed that he would trash the much awaited TPP on the very first day he assumes office.

This changed the mood inside the offices of Vietnam's Garment companis. It was then, Than Duc Viet, deputy general director of the state-run textile company, breaking into a rousing speech had observed that if the TPP falls through, his country can always look to Europe or South Korea. After all, Vietnam hasn't been making all these improvements just for the TPP.

Duc was referring to the Trans-Pacific Partnership, the comprehensive 12-nation trade pact that would have given Vietnamese exports easy access to a vast market. Unfortunately for Hanoi, Trump’s vow to scrap the deal on his first day in office, did it in. But while this is a setback for Vietnam's industrial policy, resourceful companies already have chalked out their own plans for going global well underway.

Garment 10, or Garco 10 for short, is a symbol of Vietnamese industry. Revolutionary leader Ho Chi Minh toured its factory on the outskirts of Hanoi in 1959. During the Vietnam War, workers of the company manned anti-aircraft guns on the roof when they were not busy sewing. The company is taking the likely failure of the TPP in stride, confident that the improvements Duc referred to will serve it well.

 
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