President Luong Cuong delivered this message at the opening ceremony of the third 2025 meeting of the APEC Business Advisory Council (ABAC III) on 16/7 in Hai Phong. This regional forum promotes economic cooperation and prepares recommendations for APEC leaders later this year.
The president highlighted ABAC's role in connecting the business community and fostering initiatives for economic recovery, innovation, and sustainable development in the region. He commended ABAC and regional businesses for proposing solutions, especially as the world faces challenges like climate change, supply chain disruptions, and trade policy uncertainties.
In the current landscape, the president believes that multilateral cooperation and public-private dialogue should be elevated. He called on the APEC business community to enhance collaboration, integrate supply chains, share technology, and encourage large corporations to support small and medium-sized enterprises.
"Competition is necessary, but cooperation is the key to ensuring all economies thrive," the president stated.
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President Luong Cuong speaks at the opening session of the third 2025 meeting of the APEC Business Advisory Council. Photo: Dam Thanh |
President Luong Cuong speaks at the opening session of the third 2025 meeting of the APEC Business Advisory Council. Photo: Dam Thanh
At the meeting, delegates will discuss core areas like free trade, digital transformation, artificial intelligence, and green finance. The president noted that these are key priorities in Vietnam's National Development Strategy to 2030, with a vision to 2045, aiming to make Vietnam a high-income developed country.
To achieve this, Vietnam is promoting institutional reforms and creating a transparent and stable business environment. "We recognize businesses as the driving force in our nation's modernization," he said.
By 2030, Vietnam plans to complete 5,000 km of expressways, begin construction on the North-South high-speed railway, and train 50,000 semiconductor engineers.
As the host of APEC 2027, Vietnam will continue to promote cooperative initiatives focused on people and driven by businesses. The president urged ABAC to continue bridging the gap between the private sector and APEC leaders, fostering public-private partnerships, and supporting micro, small, and medium-sized enterprises.
"Vietnam values APEC cooperation and actively contributes to realizing the APEC Vision 2040 for a dynamic, resilient, and peaceful Asia-Pacific community," he added.
The ABAC III meeting takes place from 15-18/7 in Hai Phong, with over 200 delegates, including leaders from major corporations and multinational companies from 21 APEC member economies. The initiatives from the conference will be compiled and presented to APEC leaders in October in South Korea.
Le Tan
