Vietnamese leader insists on APEC’s role in addressing global economy challenges

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(VOVWORLD) - At the APEC Business Summit on Thursday, President Vo Van Thuong proposed promoting international cooperation on economic security, especially enhancing the resilience of member economies and businesses in the region in the face of future crises.

Vietnamese leader insists on APEC’s role in addressing global economy challenges  - ảnh 1President Vo Van Thuong speaks at the APEC Business Summit. (Photo: Thong Nhat/VNA)
Mr. Thuong called on the business community to accompany the State in implementing commitments on sustainable development, pursuing long-term economic, environmental, and social goals, increasing investment in science, technology, and people, and building inclusive, resilient communities.

He underscored the need to restore and strengthen confidence in free trade and investment. International trade has experienced ups and downs, but trade has contributed greatly to the development and prosperity of countries. Since 2019 more than 3,000 trade barriers have been set up, making the world economy unstable and threatening a decline in global economic output.

“More than ever, APEC needs to honor its commitment to market openness, promote international economic links, and support an open, inclusive, and sustainable global economy,” Mr. Thuong said, adding, “Benefits from trade should be distributed widely and equitably. Free trade and investment will help Asia-Pacific economies improve their competitiveness and continue to attract investors.”

President Thuong called on businesses to invest in Vietnam in science, technology, innovation, the green economy, the digital economy, the circular economy, semiconductors, new energy, and green finance. 

He said Vietnam always respects and protects the legitimate rights and interests of investors and considers the success of businesses as its own success and the failure of businesses as the failure of the State in managing policies.