(VOVworld) - Vietnam’s agriculture sector is likely to benefit greatly from the Trans-Pacific Partnership (TPP), Argentina’s Clarin newspaper has reported.

A rice field in the harvest season (Photo: VNA)

An article entitled “Vietnamese agriculture seeking investment” says Vietnam will attract millions of USD of investment and see a boom in food production.

The TPP can multiply Vietnam’s rice shipments to Asian markets by six, which also means new environmental challenges from growing multiple crops a year and heavy use of pesticides and fertilizers.

The article suggests that the most viable solution will be industrializing food production using foreign investment.

The TPP agreement will attract more foreign investment to Vietnam, especially from the US and Japan. For the first time, Vietnam will be able to draw foreign investment into the agriculture sector.

The article notes that Vietnam’s economy could grow by 6.7% this year. Joining the TPP, Vietnam’s GDP is likely to increase 11% while export turnover could grow 12% or more in the next decade.