President Luong Cuong attended and delivered remarks at the first session of the 2025 APEC Economic Leaders’ Meeting on the morning of October 31 (local time), at the Gyeongju Hwabaek International Convention Center (HICO) in the Republic of Korea, following a formal welcome ceremony for APEC leaders.

The session gathered leaders and heads of delegation from the 21 member economies, along with special guests including the Crown Prince of Abu Dhabi (United Arab Emirates) and the Managing Director of the International Monetary Fund (IMF).

Under the theme “Building a Sustainable Tomorrow: Connect, Innovate, Prosper”, the session focused on two main areas: promoting trade and investment amid global uncertainty, and strengthening public-private cooperation to unlock private-sector potential for inclusive and sustainable growth.

In his opening remarks, President of the RoK Lee Jae Myung emphasized that this meeting provides an opportunity for leaders to engage in open and constructive dialogue, aiming to enhance trade and investment, strengthen mutual understanding, and jointly advance the development and shared prosperity of the region.

The IMF Managing Director briefed leaders on the global outlook, urging APEC economies to focus on four priorities: ensuring public financial sustainability, particularly public debt; maintaining financial stability and addressing macroeconomic imbalances; fostering a transparent business environment to support private-sector development; and stepping up regional cooperation to tackle disparities among economies.

The meeting featured in-depth discussions on initiatives and solutions to enhance the resilience of member economies and promote international economic connectivity in response to shared global challenges. Leaders agreed on the need to leverage the private sector’s role and potential, generate employment, improve livelihoods, and enhance coordination of fiscal and monetary policies to adapt to global economic fluctuations.

Expanding dialogue and public-private cooperation is a crucial and effective tool for mobilizing resources toward common development goals, including promoting green investment, developing sustainable infrastructure, advancing digital trade, and enhancing the competitiveness of small and medium-sized enterprises.

APEC leaders and invited guests also emphasized the importance of inter-regional economic integration and connectivity, calling for strengthened experience sharing and policy dialogue among regions, facilitating trade and investment, and building safe, flexible, and sustainable supply chains.

Speaking at the meeting, President Luong Cuong underlined the urgent need to enhance connectivity and resilience among APEC economies, particularly developing economies, in the face of external shocks and the mixed impacts of technology.

He proposed three key priorities for APEC. First, the forum should address major bottlenecks in regional supply chains and infrastructure by digitizing customs procedures efficiently, upgrading and harmonizing transport, logistics, and information technology infrastructure, standardizing cross-border data and payment regulations, and narrowing technological gaps among economies.

Second, APEC should promote trade and investment cooperation by implementing the Asia-Pacific Free Trade Agreement and multilateral agreements under the World Trade Organization, such as the Trade Facilitation Agreement, and by reducing non-tariff barriers. Third, support should be provided to the private sector, especially small and medium-sized enterprises, to improve access to capital, technology, and markets, and to increase management capacity to adapt and thrive in the digital era.

The President emphasized that amid macroeconomic instability, a solid microeconomic foundation is key for long-term growth, and the region’s development lessons have also underscored the crucial role of the private sector.

He affirmed that, as host of APEC 2027, Vietnam will work closely with both APEC and non-APEC economies to strengthen economic integration, promote green growth, and create a conducive environment for cooperation and development, aiming for a peaceful, stable, and prosperous Asia-Pacific region.

Vietnam always welcomes APEC businesses, says President Luong Cuong

VOV.VN - Vietnam always keeps its doors open to APEC businesses, said President Luong Cuong in a keynote speech delivered at the APEC CEO Summit Korea 2025 on the afternoon of October 30 (local time) as part of the APEC 2025 Economic Leaders’ Week in Gyeongju, the Republic of Korea.

President Luong Cuong attends APEC leaders’ welcome dinner

VOV.VN - President Luong Cuong attended a special welcome dinner hosted by President of the Republic of Korea (RoK) Lee Jae Myung in the ancient capital of Gyeongju, marking the first official event for APEC leaders at the start of the 2025 Economic Leaders’ Week.

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