Sustainable development hinges on ABAC initiatives, according to the president's declaration.
The third meeting of the APEC Business Advisory Council (ABAC III) took place in Hai Phong, Vietnam, from July 15 to 18, 2025. This significant event brought together around 200 domestic and international delegates from all 21 APEC member economies, marking a pivotal moment in the Asia-Pacific region's economic recovery and sustainable development.
The core discussion topics and key initiatives centred around themes critical to addressing ongoing global challenges such as climate change, supply chain disruptions, and evolving trade policies. The main themes included:
1. **Free trade** and the promotion of regional economic integration to foster seamless cross-border commerce. 2. **Sustainable investment**, emphasizing environmentally responsible and inclusive economic growth. 3. **Digital transformation** and the adoption of **artificial intelligence (AI)** technologies as catalysts for innovation. 4. **Green finance** and **biotechnology innovation**, aligning with strategic priorities in Vietnam’s development roadmap toward 2030 and its vision for 2045.
These topics were framed as essential to ensuring a sustainable and resilient economic future for the Asia-Pacific region. The meeting served as a vital platform for dialogue between business leaders, economic experts, and policymakers to generate breakthrough ideas promoting economic recovery and innovation in the region.
One of the key initiatives accompanying the meeting was an investment promotion conference themed “Hai Phong – A Strategic Destination in the New Era.” During this conference, Hai Phong presented investment registration certificates for 32 projects and signed seven Memoranda of Understanding, with total committed capital exceeding $15.6 billion. This highlighted Hai Phong's growing appeal as an investment and logistics hub.
Vietnam's active role as host reinforced its commitment to enhancing institutional reforms, improving legal frameworks, and creating a transparent, stable, and competitive business environment. Moreover, the country is preparing for its hosting of APEC in 2027 and aims to work closely with ABAC to foster regional cooperation that centers enterprises and sustainable development.
President Luong Cuong emphasised that ABAC is a bridge between the business community and APEC leaders, and a birthplace of breakthrough ideas aimed at promoting economic recovery, innovation, and sustainable development. He also called on major corporations to actively support small and medium-sized enterprises (SMEs) through training, technology transfer, and market cooperation.
In conclusion, the ABAC III meeting in Hai Phong affirmed Vietnam's proactive engagement in regional economic integration and its commitment to shaping policies and collaborative frameworks that enable sustainable economic growth, innovation, and regional integration through business-led initiatives and public-private dialogue in a context of global uncertainty. The meeting served as a crucial stepping stone towards Vietnam's 2030 development roadmap and 2045 vision, reaffirming its international standing and promoting its image.
- Ai technologies, as catalysts for innovation, were strongly emphasized during the core discussions at the ABAC III meeting in Hai Phong, Vietnam.
- The promotion of regional economic integration, through free trade agreements, was a central topic during the ABAC III meeting, aiming to foster seamless cross-border commerce.
- Sustainable investment, prioritizing environmentally responsible and inclusive economic growth, was a key theme at the ABAC III meeting, aligning with strategic priorities in Vietnam’s development roadmap.
- Government institutional reforms and improvements to legal frameworks were highlighted by Vietnam as critical initiatives to create a transparent, stable, and competitive business environment.
- The adoption of green finance and biotechnology innovation were essential themes at the ABAC III meeting, addressing climate change and aligning with Vietnam’s long-term development vision.
- In the context of global uncertainty, the ABAC III meeting served as a crucial platform for business leaders, experts, and policymakers to generate breakthrough ideas promoting economic recovery and innovation.
- The digital transformation of businesses and their implementation of artificial intelligence technologies were discussed at the ABAC III meeting as keys to fostering regional economic integration and sustainable development.
- Business leaders were encouraged to actively support small and medium-sized enterprises (SMEs) through partnerships, training, technology transfer, and market cooperation at the ABAC III meeting.
- The investment promotion conference themed “Hai Phong – A Strategic Destination in the New Era” at the ABAC III meeting was significant, with total committed capital exceeding $15.6 billion for 32 registered projects and seven Memoranda of Understanding signed.
