Business

Hai Phong to host 3rd APEC Business Advisory Council meeting in July

Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.

The press briefing held by ABAC Vietnam and the Hai Phong People's Committee in Hanoi on June 19 (Photo: VNA)
The press briefing held by ABAC Vietnam and the Hai Phong People's Committee in Hanoi on June 19 (Photo: VNA)

Hanoi (VNA) – The third APEC Business Advisory Council Meeting (ABAC III) and a series of related events will take place in the northern city of Hai Phong from July 15 to 18, heard a press briefing held in Hanoi on June 19.

Nguyen Quang Vinh, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), said ABAC III and related events will kick start a series of important activities of Asia-Pacific businesses this year, gathering around 250 delegates from 21 APEC member economies. Participants include ABAC’s official and alternate members, many of whom are top business executives as well as representatives from trade promotion agencies, economic experts, and academics.

Notably, President Luong Cuong is expected to attend and deliver the opening remarks on July 16.

Key discussion topics will include free, fair, and sustainable trade and investment; digital transformation and innovation; capacity building for micro, small, and medium-sized enterprises (MSMEs); green finance, inclusive growth, and sustainable development; health security and supply chains amid global uncertainties; and the role of businesses in achieving the Sustainable Development Goals.

Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November. Thus, the discussions in Hai Phong will directly contribute to shaping regional economic and trade policies for the coming years.

Hosting ABAC III is not only a significant diplomatic opportunity for Vietnam but also an occasion to affirm its active role in the regional integration process and show its commitment to free trade along with inclusive and sustainable development – the core values pursued by both APEC and ABAC. The event is also expected to help introduce the country’s image to international friends.

In addition to the main agenda, Hai Phong will organise cultural exchange events, investment promotion activities, local business tours, and exhibitions highlighting the Vietnamese culture and specialties.

ABAC is the official representative mechanism of the business sector within the Asia-Pacific Economic Cooperation (APEC) forum. ABAC was established by APEC leaders in 1995, with the mission of directly advising the region's top economic leaders on strategic issues related to trade, investment, economic integration, innovation, sustainable development, and other global challenges./.

VNA
#Hai Phong #APEC Business Advisory Council #ABAC #APEC #Asia-Pacific businesses
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