President of the Republic of Korea (RoK) Moon Jae-in (Source: Yonhap/VNA)

Hanoi (VNA) – President of the Republic of Korea (RoK) Moon Jae-in on November 18 proposed the establishment of the APEC Digital Innovation Fund to boost regional cooperation and build capacity for developing economies in the region.

He made the proposal at the 26th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting held in Port Moresby of Papua New Guinea.

The Korean leader reaffirmed his support for APEC’s digital economic vision, approved last year, to improve technology, services and cooperation. As part of this effort, Moon said the APEC Digital Innovation Fund will play a role as an investment fund that stimulates growth in order to draw the engagement of economists in each economy and help improve the capacity of developing economies.

The President also shared policies to support startup technologies, narrow digital gaps and protect consumers who use the Internet. He cited the RoK’s socio-economic policies as an example for the common goals of APEC regarding comprehensive growth and renovation.

He also took the occasion to reiterate his country’s determination to contribute to fostering the attainment of comprehensive and sustainable growth objectives in the region.

At the 26th APEC Economic Leaders’ Meeting, themed “Harnessing Inclusive Integration, Embracing the Digital Future”, the leaders of the 21 member economies discussed measures to enhance integration, maintain comprehensive growth and promote the digital economy.

APEC groups 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 United States and Vietnam.-VNA