KBC

ABAC III (Apec Business Advisory Council) was hosted by Vietnam and organized by VCCI and ABAC consultant members: Pham Tan Cong, Dang Thanh Tam and Nguyen Thanh Hung in Ha Long city, Quang Ninh province from July 26 to July 29, 2022 with the theme "Embrace - Engage - Enable" - with the desire to embrace the opportunities when the world is engaged again; enabling the cooperation to come up with ideas and initiatives; and participating in digital transformation, inclusive and sustainable development.

Thailand is taking the role of Chair of APEC and ABAC in 2022. According to ABAC's operation plan, in 2022 ABAC has 4 meetings: the first meeting in Singapore from February 15 to February 18, 2022; the second meeting in Vancouver, Canada from April 25 to April 28, 2022; the third meeting in China in July 2022 and the fourth meeting in Bangkok, Thailand from November 13 to November 16, 2022. However, as China is still maintaining the "zero Covid" policy, the ABAC meeting of session 3 cannot be held in China as scheduled. Therefore, the Chair of ABAC 2022, Thailand, asked ABAC Vietnam to host the 3rd session.

On July 27, 2022 in Quang Ninh province, President Nguyen Xuan Phuc attended and spoke at the third meeting of the APEC Business Advisory Council (ABAC III 2022). Also attending were Mr. Nguyen Xuan Ky, Member of the Central Committee of the Communist Party of Vietnam, Provincial Party secretary, Chairman of the People's Council of Quang Ninh Province; Mr. Pham Tan Cong, Chairman of Vietnam Confederation of Commerce and Industry (VCCI) and other 150 delegates representing 21 APEC economic members.

President Nguyen Xuan Phuc spoke at the meeting

In the opening, President Nguyen Xuan Phuc emphasized: The world and the APEC region are facing unpredictable fluctuations of the pandemic, headwinds of politics, disruptions in the supply chains and the wobble of financial markets. All these difficulties are testing the bravery and cooperation of APEC member economies, in which we pay special attention to the resilience of businesses whether they are large, medium-sized, small or micro enterprises.

President Nguyen Xuan Phuc, leaders of Quang Ninh Province and representatives of 21 APEC economic members

The President also expected ABAC III to come up with new and effective proposals, initiatives and solutions, making practical contributions. It included the increase in trade and investment in APEC with the central role of the SIZO system..., connection of disrupted supply chains, human resources, and support for businesses to maintain production and business activities on the basis of a green digital economic production with green technologies and green energy; promoting the cooperation in the development of clean energy, renewable energy, and reducing greenhouse gas emissions in the region. Vietnam and other APEC economies always highly appreciate and support the initiatives and recommendations of the APEC community to report to the conference between APEC leaders and ABAC.

Mr. Dang Thanh Tam spoke at the opening of ABAC III

Earlier, President Nguyen Xuan Phuc met a delegation of the APEC Business Advisory Council, led by Mr. Kriengkrai Thiennukul - Chairman of the APEC Business Advisory Council - ABAC 2022, and visited KBC's booth at the 2022 Investment Promotion Conference in Quang Ninh Province.

As a member of ABAC, Mr. Dang Thanh Tam also made a speech to the council to propose groups of strong solutions to promote trade, digitization and cyber security, support small and micro enterprises; to develop a circular economy and financial ecosystems.

Mr. Dang Thanh Tam spoke at the Conference where President Nguyen Xuan Phuc met the delegation of the APEC Business Advisory Council

President Nguyen Xuan Phuc highly appreciated that the APEC Business Advisory Council set out many important goals and solutions to promote APEC's trade and investment activities, and believed that this meeting would bring forward many proposals and initiatives on business and promote trade and investment liberalization, which shall be sent to APEC leaders at the summit in upcoming November.

This is a good opportunity for the province to promote and attract FDI inflows from large and potential investors from 21 APEC economic members to invest in Quang Ninh province in particular and Vietnam in general, creating a new breakthrough in the development of processing and manufacturing industries, the development of high-class general services, tourism, marine economy, renewable energy, digital economy and circular economy.

President Nguyen Xuan Phuc visited KBC's booth at Quang Ninh Investment Promotion Conference 2022

Right after the opening session, ABAC III members implemented the agenda of the meeting, focused on the following group contents: A group specializing in finance - economics of ABAC members; Regional economic integration of ABAC members, A group specializing in MSME and all of ABAC members; and a group specializing in ABAC members’ digitalization task and ABAC Secretariat drafting sessions.

With a throughout message, Vietnam is affirming that APEC continues to be a regional forum with a voice, that plays the role of promoting multilateralism and multilateral cooperation, and rapidly recovering from Covid-19, developing the economy sustainably, continuing to be the driving force for the growth of the regional and global economy. The ABAC III conference will contribute to enhance Vietnam's position and become a fundamental basis for the international advocacy for Vietnam to assume the role of APEC Chair in 2027.