Delivering a keynote speech at the event, President Tran Dai Quang said throughout nearly three decades of evolution, APEC has not only witnessed turning-point changes of the world but also been part of these changes.
“As a premier regional economic forum, APEC has recorded many important achievements in economic and social development, and lifted hundreds of millions of people out of poverty.”
It has become the most effective economic cooperation mechanism in promoting the role of businesses and transforming the Asia-Pacific region into a driver of global growth and integration as well as the incubator of new ideas for the future.
“These achievements were not possible without crucial contributions from the Asia-Pacific business community that you represent,” he stressed.
Thanks to the essential contributions of the businesses, from the world leading enterprises to the MSMEs and woman-led businesses, the Asia-Pacific has become a driver of economic growth, and the hub of investment, science and technology, contributing nearly 50 percent to the global investment, trade and almost 60 percent of GDP, he said.
The APEC business community also plays a pioneer role in the development of new technology and energy industries, business cooperation, and next-generation trade and investment issues, bringing about greater resources to better meet the people’s material and cultural needs, he noted.
According to the President, during the past years, particularly over nearly a year of the APEC 2017, Vietnam has worked with other member economies to develop and implement a wide range of meaningful cooperation programs and activities for the people and businesses on human resource development in the digital age, development of MSMEs, cross-border e-commerce facilitation, promotion of internet and digital economy and financial, economic and social inclusion.
“Our overarching goal is to promote people- and business-centered development,” he affirmed.
The leader emphasized Vietnam’s priorities including generating further the momentum of global economic integration and recovery, upholding its leading role in trade and investment liberalization, and fulfilling the Bogor Goals by 2020.
Public-private partnership should be strengthened to promote comprehensive and inclusive connectivity, develop quality infrastructure, and enhance supply chain connectivity as well as next-generation trade and investment issues, he stated.
President Quang took this occasion to urge businesses to enhance cooperation and support member economies in promoting investment in education and training so that the economies and employees can better adapt to the new economic environment.
“APEC needs to bolster efforts to ensure the inclusiveness of growth. We need to turn “economic miracles” into “inclusive development miracles” in our region and APEC should continue to play a leading role in the implementation of the United Nations’ Sustainable Development Goals,” he said.
He went on to say that businesses need to place greater emphasis on social responsibility, make active contributions to building resilient and inclusive communities, ensuring food-water-energy security, infusing entrepreneurship, furthering women’s economic empowerment, and supporting MSMEs in gaining a stronger foothold in the global market.
“With the contributions and practical experience of businesses, we can develop a comprehensive and inclusive vision for the region, which ensures the interests of the people and businesses. This also provides the fundamentals for the sustainable development of the APEC economies and business community in the future,” he concluded.
During the three-day summit, delegates will discuss pressing issues such as the future of globalization, game changer, the future of work, the new job creators, connecting for growth, new frontiers in trade, the digital age, among others.
Chinese President Xi Jinping, US President Donald Trump and Japanese Prime Minister Shinzo Abe are expected to deliver keynote speeches at the event.
The APEC Economic Leaders’ Week from November 6-11 is drawing around 10,000 delegates from the 21 APEC member economies.
Established in 1989, APEC comprises Australia, Brunei, Canada, Chile, China, Hong Kong (China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the US, and Vietnam.
It represents 39 percent of the world population, 57 percent of the world GDP and 47 percent of the total trade.
Source: VNA