Particularly strong growth is expected for the apparel and footwear sector, which accounts for roughly 20% of Vietnam's total exports, the newspaper said.

Reuters said the EVFTA will open up Vietnam’s post, banking, shipping, and public procurement services.

The World Bank said in May that the EVFTA could boost Vietnam’s gross domestic product 2.4% and exports 12% by 2030 and lift hundreds of thousands of people out of poverty.