Ladies and gentlemen, this morning, in Hai Phong city, State President Luong Cuong attended and delivered the opening speech at the 3rd meeting of the APEC Business Advisory Council (ABAC III) in 2025. This is an important regional event to promote economic cooperation, connect businesses and prepare recommendations to be presented at the APEC 2025 Summit in Korea. 

Mr. Le Tien Chau, member of the Party Central Committee, Secretary of Haiphong Party Committee, Head of the National Assembly Delegation of Hai Phong City; Mr. Le Ngoc Chau, Deputy Secretary of Haiphong Party Committee, Chairman of the City People's Committee attended the meeting.
Speaking at the opening plenary session, State President Luong Cuong emphasized the essential role of ABAC in connecting businesses, creating initiatives to promote economic recovery, innovation and sustainable development in the region. The President highly appreciated the efforts of ABAC and the regional business community in proposing practical solutions, especially In the context of profound geopolitical shifts, and global challenges such as climate change, extreme weather, changes in trade policies, and supply chain disruptions. The President affirmed that “Vietnam has always valued its cooperation with APEC and actively contributed to the concerted efforts to realize the APEC Vision 2040 of an open, dynamic, resilient, and peaceful Asia-Pacific community for the prosperity of all people and future generations.” Vietnam is making great efforts to become a developed, modern, green and digital country by 2040. The President called on ABAC to continue playing the role of a key bridge between the private sector and APEC economic leaders, promoting public-private cooperation, supporting micro, small and medium sized enterprises as well as promoting innovation. Vietnam is ready to accompany the business community in the process of transformation and integration into the world economy, and hopes to receive support and companionship from ABAC as Vietnam assumes the role of Chair of the Asia-Pacific Economic Cooperation (APEC) Forum 2027.  The ABAC III meeting is hosted by the Vietnam Chamber of Commerce and Industry (VCCI) and SOVICO Group, Saigon Investment Group, taking place from July 15-18, 2025 in Hai Phong city. The event brings together more than 200 delegates who are ABAC members and assistants, including leaders of large corporations, multinational companies, and leading enterprises from 21 APEC member economies. At the meeting, ABAC members discussed many priority topics in the APEC 2025 agenda, including: trade and investment, sustainable finance, digital transformation, green development, innovation, food security and health. Outstanding initiatives of ABAC will be compiled and presented to APEC leaders which is expected to be hold in Korean in October 2025.
Within the framework of the opening program of ABAC III, President Luong Cuong, Hai Phong leaders and delegates visited exhibition booths introducing local specialties, culture and economic potential of Hai Phong city, learned about special policies and mechanisms, the situation of attracting FDI investment, developing high-tech industry, supporting industry, seaports, logistics./.