President Cuong welcomed Cho, who is also Vice Chairman of Hyosung Group of the Republic of Korea (RoK), to Vietnam and expressed appreciation for the RoK’s leadership role in hosting APEC 2025. He praised ABAC’s decision to hold its third meeting in Hai Phong city, which he said reflects the council’s recognition of Vietnam’s role and credibility within the Asia-Pacific region.

He emphasised that this ABAC meeting is not only a key preparatory step for the APEC Economic Leaders' Meeting to be held in the RoK in October 2025, but also a crucial opportunity to build consensus among APEC’s business communities on recommendations for inclusive and sustainable regional growth.

Vietnam, he assured, will actively contribute to these recommendations, which aim to shape an open, resilient, and forward-looking economic future for the region.

President Cuong also noted that this meeting also marks an important beginning in Vietnam’s preparations for its hosting of the APEC Summit in 2027. He called on APEC member businesses to continue supporting and partnering with Vietnam in its efforts to successfully assume the APEC presidency role.

Cho, for his part, acknowledged Vietnam’s strong support for the international business community, as well as Hai Phong’s good preparations for the ABAC meeting. He highlighted Vietnam’s continuous efforts to improve its investment climate, enhance public-private dialogue, and create favourable conditions for long-term and sustainable foreign investment.

He also shared ABAC’s 2025 agenda priorities, including accelerating regional economic recovery, fostering deeper integration, and contributing to a cohesive, inclusive, and prosperous APEC business environment.

President Cuong acknowledged the positive development of Vietnam’s trade and investment relations with APEC economies and underscored Vietnam’s commitment to supporting foreign enterprises, including ABAC member businesses, in long-term and successful operations in Vietnam.

As Vice Chairman of Hyosung Group, Cho briefed his host on the corporation’s ongoing investments across various Vietnamese localities and expressed appreciation to the government for its strong and consistent support for Korean businesses. He reiterated Hyosung’s commitment to further contributing to Vietnam’s economic growth.

President Cuong welcomed Hyosung’s investment projects and reaffirmed Vietnam’s strategic focus on high-tech development, science, and innovation. He encouraged Cho, in his capacity as ABAC Chair, to continue fostering connections between Vietnamese enterprises and their regional counterparts and to serve as an advisor and partner in Vietnam’s successful hosting of APEC 2027.

On this occasion, Cho extended a formal invitation to President Cuong to attend and deliver a keynote speech at the APEC CEO Summit to be held in the RoK in October 2025.

Hai Phong boosts investment promotion, highlights strategic role in new era

VOV.VN - The northern port city of Hai Phong signed a number of cooperation contracts and handed over investment certificates to domestic and foreign businesses at an investment promotion conference on July 15.