A keynote speaker, Cuong emphasised that as the world is undergoing profound and transformative changes that shape the international political and economic landscape and impact every nation and business alike, APEC provides an essential platform for reflection, dialogue, and the creation of an economic governance system that underpins the growth of the member economies.

State President Luong Cuong addressing APEC CEO Summit 2024.

To fulfil the shared objectives, the member economies must focus on four key priorities, he said. Firstly, they must ensure a peaceful and stable international environment that nurtures global trade and investment, alongside economic integration and connectivity.

Secondly, it is essential to ensure that every nation and individual have equal access to opportunities and can fully benefit the outcomes of cooperation and development.

Thirdly, the member economies must develop comprehensive solutions for transitioning to clean, green energy to effectively tackle humanity's most pressing challenge of climate change.

Lastly, it is necessary to ensure that disruptive technologies, particularly artificial intelligence, are developed and applied responsibly and inclusively, becoming essential drivers of economic growth and social progress.

Affirming that the business community plays a crucial role in the remarkable successes of the Asia-Pacific and in fostering APEC cooperation, the President highlighted several key areas where they can make impactful contributions, including leading the way in innovating business models and production processes toward green, circular, and digital economic practices, and becoming a driving force in both the green and digital transitions, inspiring and facilitating the growth of critical sectors; and increasing investment in research and development to nurture the growth and application of groundbreaking technologies that tackle pressing global challenges.

They should actively participate in shaping the regulations and standards for emerging and strategically important sectors of the global economy; and serve as a vital bridge to connect economies, enhance people-to-people exchanges, and contribute to building and strengthening cooperative and friendly relations among nations, President Cuong stressed.

The leader affirmed that Vietnam is entering into a new era with a renewed mindset, propelled by a strong aspiration to become a prosperous and contented nation, backed by unwavering confidence in a bright future.

“Our strong foundations consist of a rapidly expanding and dynamic economy ranked 25th globally; a robust and stable political system that places the people at its core; a patriotic, self-reliant, and resilient population of over 100 million; and a wide network of international friends and partners across every continent,” he said.

The country persists the principles of independence, self-reliance, resilience, diversification, and multilateralism with a focus on peace, cooperation, and development, while fully supporting the multilateral trading system, recognising the pivotal role of the World Trade Organization, firmly believing in the values of free trade, connectivity, and international integration, and engaging responsibly and contributing positively to global politics, the world economy, and human civilisation, thus positioning it as a friend, a reliable partner, and an active, responsible member of the international community.

President Cuong went on to say that Vietnam’s vigorous growth will unlock new opportunities for both domestic and international enterprises across a diverse range of sectors, including commerce, industry, agriculture, tourism, infrastructure, logistics, and high-tech industries.

The Vietnamese market has consistently offered exceptional benefits and distinct advantages that few places can match, he emphasised.

Concluding his speech, the State leader stressed that as the world is navigating significant global upheaval and confront risks of protectionism, fragmentation, and decoupling, APEC must once again embrace its vital role as a bridge that connects and promotes cooperation among its members.

“Together, we must endeavour to build a transparent and equitable international economic governance system that ensures balanced benefits for all parties involved,” he stressed.

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