Vietnam most positive on the TPP across consumers and businesses

The polling, conducted between October 7- 9, reveals broad support for TPP and with 93 per cent of Vietnam businesses and 96 per cent of consumers demonstrating confidence that the partnership will benefit Vietnam’s economy compared to the global average of 69 per cent of businesses and 67 per cent of consumers.

Since the announcement of the agreement on October 5, commentary across the member nations and those watching from a distance have focused heavily on the challenges around the required ratification by each nation.

The poll of 1,000 consumers and 1,000 businesses surveyed across the TPP nations, excluding Brunei and Peru, was conducted to understand the business and consumer awareness and perspectives around TPP.

In Vietnam, awareness of the partnership ranks 2nd highest across the partner countries with 83 per cent of businesses and 86 per cent of consumers aligned with their beliefs that the partnership will bring beneficial transformations to the economy.

“In the days since the TPP agreement, we have seen significant commentary around what this means for businesses and consumers. Vietnam has been touted to be among the biggest winners from the partnership and from our findings, Vietnamese consumers and businesses are the most aware and have indicated their belief that the deal will positively boost our economy,” said Bui Ngoc Anh, managing director, AVC Edelman.

Across the TPP signatory nations surveyed, Vietnam businesses also rank the highest in terms of being prepared to take advantage of the TPP with 76 per cent compared to the global average of 52 per cent.

Similarly, Vietnamese businesses are the most confident of the positive impact to jobs and employment, 79 per cent compared to 53 per cent globally.

Vietnamese consumers are equally confident of the benefits that TPP will bring to them and their families, an overwhelming 80 per cent compared to the global average of 47 per cent.

“While each TPP government works out and ratifies the partnership, our polling shows that TPP is an issue that people care about and believe that it will positive benefits to them especially in Vietnam,” Anh noted.

In respect to the challenges following TPP enforcement, Anh commented, “Although the TPP has yet to be ratified, there is a broad consensus that it will happen in a year or so. Everyone must start to review their reputations and business methods right now. All member markets have different priorities but ultimately all companies are going to face significant new challenges in their marketing and business operations.”

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