The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) officially came into force on 14 January 2019 for Vietnam. Vietnam is the 7th country approving CPTPP, which took effect for the first six other countries (Mexico, Japan, Singapore, New Zealand, Canada, and Australia) on 30 December 2018. The agreement creates a huge free economic region with a market scope of 500 million people and covers 13.5% of the global Gross Domestic Product (GDP). After the enactment of CPTPP, the Vietnamese economy will experience multi-dimensional impacts (both positive and negative). The visible negative impacts involve the legal and institutional environment, competition, commodity trade, banking and finance, and a liberalised public procurement market.