On the morning of July 16, at Pullman Hotel, Hai Phong City, President Luong Cuong attended and delivered the opening speech at the 3rd Session of the APEC Business Advisory Council (ABAC III) in 2025.
This is an important regional event to promote economic cooperation, connect businesses and prepare recommendations to APEC Leaders at APEC Summit Week 2025, South Korea.
In his opening speech, President Luong Cuong emphasized the essential role of ABAC in connecting businesses, creating initiatives to promote economic recovery, innovation and sustainable development in the region. The President highly appreciated the efforts of ABAC and the regional business community in proposing practical solutions, especially in the context of the world facing many challenges such as climate change, supply chain disruptions, geopolitical competition and uncertainty on trade policy.
The President affirmed: Vietnam always attaches importance to APEC cooperation and actively contributes to the common efforts to realize the APEC 2040 Vision on an open, dynamic, self-reliant and peaceful Asia-Pacific community. Vietnam is making strong efforts to become a developed, modern, green and digital country by 2045, with businesses at the center of the transformation process.
The President called on ABAC to continue to act as an important bridge between the private sector and APEC leaders, promote public-private partnerships, support micro, small and medium enterprises (MSMEs), and promote innovation initiatives.
Vietnam is ready to accompany the business community in the process of transformation and integration, and hopes to receive support and companionship from ABAC in the preparation process for APEC 2027 when Vietnam assumes the role of Chair - President Luong Cuong emphasized.
The ABAC 3 session was hosted by the Vietnam Federation of Commerce and Industry (VCCI) and SOVICO Group, Saigon Investment Group (members of ABAC Vietnam), taking place from July 15 to 18.18 in Hai Phong city. The event gathered more than 200 delegates who are ABAC members and assistants, including leaders of large corporations, multinational companies, and leading enterprises from 21 APEC member economies.
At the meeting, ABAC members discussed many priority topics in the APEC 2025 agenda, including: trade and investment, sustainable finance, digital transformation, green development, innovation, food security and health. ABAC's outstanding initiatives will be compiled and presented to APEC leaders in October 2025 in South Korea.
Within the framework of the 3rd ABAC Session, President Luong Cuong attended and gave a speech at the Hai Phong City Investment Promotion Conference, received ABAC 2025 President Hyun- Sang Cho and some outstanding members of ABAC, and visited the exhibition displaying typical Vietnamese products.
The ABAC III session was held in the context of Vietnam actively preparing for the role of host of APEC 2027. The presence and speech of the President at the event demonstrated Vietnam's strong commitment to supporting the business community, promoting multilateral cooperation and actively contributing to the regional integration process.
