Vietnam’s sugar industry prepares for TPP

Vietnam’s agricultural sector could enjoy huge benefits if the Trans-Pacific Partnership Agreement (TPP) is approved. However, many experts are now worrying the country’s sugar industry will face significant challenges due to higher production costs compared other countries. Restructuring the sugar industry to improve its competitiveness is now an urgent task. So what are business and farmers preparing for upcoming challenges?

Restructuring to improve competitiveness is a must for the domestic sugar industry in preparation for the TPP. Although the tax cut road map following the TPP will take several years to complete, this task must be carried out more intensively from now.