President Nguyen Xuan Phuc attends the annual dialogue between leaders of the Asia-Pacific Economic Cooperation (APEC) economies and the APEC Business Advisory Council (ABAC). (Photo: VNA) This year’s event focused on efforts by the Stateand businesses to overcome crises and speed up economic recovery.
In his remarks, President Phuc lauded contributions ofAPEC businesses to the COVID-19 combat as well as profound and result-orientedrecommendations the council has sent to APEC leaders, saying ABAC should continueto uphold its important role.
Given unpreceded challenges and difficulties facingthe world, he suggested economies put forth a comprehensive, breakthrough and strong approach in which the resilience of each economy and regional and global cooperation shouldbe promoted.
APEC should shed light on new opportunities, combineeconomic recovery with the transformation towards the digital and circulareconomy, and green growth, take strong measures to respond to climate change, ensureinterests of people, and promote potential of vulnerable groups, he continued.
The leader reiterated Vietnam’s strong commitments tonet-zero carbon emissions by 2025, cutting 30 percent of methane emissions by2030 and raising the ratio of renewable energy to over 30 percent.
Vietnam is taking various strong measures and a comprehensiveapproach, and integrate plans and strategies on economic recovery in the “newnormal” into the transformation to digital economy, green growth and climate changeadaptation, he said.
According to the President, all policies are set tosupport both employees and employers, while the unemployment insurance fund, socialwelfare packages and social resources are mobilised to assist vulnerable groupsand the poor.
Green growth and climate change response have been rolledout widely in Vietnam through different models, he added.
It is necessary to enhance economic connectivity and ensure supply chains; improve business climate closer to international standards when carrying out commitments under free trade agreements (FTAs), including large-scale ones with stringent standards such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam FTA (EVFTA) and the Regional Comprehensive Economic Partnership (RCEP).
Vietnam will create every possible conditions for the success of all businesses, he affirmed.
President Phuc underlined that the current difficulties and challenges also offer opportunities for businesses that dare to restructure and sharpen their competitive edge for sustainable and inclusive business operations.
The ambitious goals of APEC economies on economic recovery and climate change adaptation, among others, can only be realised if the APEC business community joins hands for the innovative and effective implementation of the roadmap for greenhouse gas emission reduction, and bolster investment in renewable energy projects, the application of new technologies and formation of green production and supply chains, he added.
At the end of his remarks, the Vietnamese leader affirmed that Vietnam always welcomes APEC and international investors. He called on ABAC members to stand side by side with APEC economies and people in overcoming the pandemic, restoring the economy and obtaining new achievements, for an Asia-Pacific of peace, sustainable development and prosperity for all citizens./.
