On the morning of July 16, at the Pullman Hotel in Hai Phong, President of the Socialist Republic of Vietnam Luong Cuong attended and delivered the opening speech at the third 2025 meeting of the APEC Business Advisory Council (ABAC III). This important regional event aimed to promote economic cooperation, connect businesses and prepare recommendations for submission to APEC Leaders at the 2025 APEC Economic Leaders’ Week in Korea.
Attending the opening, Hai Phong city leaders included Le Tien Chau, Member of the Party Central Committee, Secretary of the Municipal Party Committee and Head of the Hai Phong National Assembly Delegation; and Le Ngoc Chau, Deputy Secretary of the Municipal Party Committee and Chairman of the People’s Committee.
In his speech, the President emphasized ABAC’s essential role in connecting businesses and creating initiatives to promote economic recovery, innovation and sustainable development in the region. He praised the efforts of ABAC and the regional business community to propose practical solutions, especially as the world faces many challenges such as climate change, supply-chain disruptions, geopolitical competition and uncertainty over trade policies.
The President affirmed: “Vietnam always attaches importance to APEC cooperation and actively contributes to the joint effort to realize the APEC 2040 Vision of an open, dynamic, resilient and peaceful Asia-Pacific community.” Vietnam is making strong efforts to become a developed, modern, green and digital nation by 2045, with businesses at the center of the transformation process.
On this occasion, the President called on ABAC to continue serving as an important bridge between the private sector and APEC leaders, promote public-private cooperation, support micro, small and medium-sized enterprises (MSMEs), and advance innovation initiatives. Vietnam is ready to accompany the business community through transformation and integration, and hopes to receive ABAC’s support and partnership in preparing for 2027, when Vietnam will assume the APEC Chair.
ABAC III was hosted by the Vietnam Chamber of Commerce and Industry (VCCI), SOVICO Group and Saigon Investment Group, which are members of ABAC Vietnam, and took place from July 15 to 18, 2025, in Hai Phong with the city’s support. The event brought together more than 200 ABAC members and assistants, including leaders of major groups, multinational corporations and leading businesses from 21 APEC member economies.
At the meeting, ABAC members discussed many priority topics on the 2025 APEC agenda, including trade and investment, sustainable finance, digital transformation, green development, innovation, food security and healthcare. ABAC’s key initiatives will be consolidated and submitted to APEC leaders in October 2025 in Korea.
ABAC III took place as Vietnam was actively preparing to host APEC in 2027. The President’s presence and speech at the event demonstrated Vietnam’s strong commitment to supporting the business community, promoting multilateral cooperation and making an active contribution to regional integration./.
Source: Hai Phong City Electronic Information Portal