APEC 2017: CEOs gathers to discuss pressing issues

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.

President Tran Dai Quang delivers a keynote speech at the APEC 2017 CEO Summit

“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 to nearly 50% of the global investment, trade and almost 60% of GDP, he said.

The APEC business community also plays a pioneering 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 also emphasised APEC’s priorities including generating further the momentum of global economic integration and recovery, upholding its leading role in trade and investment liberalisation, and fulfilling the Bogor Goals by 2020. 

He urged 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 noted.

According to President Quang, in the years ahead, Vietnam will continue to carry out the comprehensive reform with three strategic breakthroughs to improve market economy institutions, promote quality human resources development, and develop a modern infrastructure system.

“At the same time, we need to focus on transforming the growth model, developing knowledge economy and advanced technology, modernising agriculture, supporting industries, maritime economy and tourism. We also place importance on fine-tuning the institutional, policy and legal frameworks, protecting the environment, providing an enabling business environment for all sectors, releasing all potentials of businesses, enhancing law enforcement and upholding the rule of law,” he said.

The leader added that along with the comprehensive renovation, Vietnam continues to deepen its international integration and make active contributions to multilateral mechanisms.

“The State and people of Vietnam always highly value the support of the APEC business community to Vietnam during our 30 years of renovation,” he concluded.

During the three-day summit, delegates will discuss pressing issues such as the future of globalisation, 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 addresses at the event.