President addresses APEC CEO Summit 2014

President Sang made the statement on November 10 at APEC CEO Summit 2014 in Beijing, which was attended by representatives of more than 1,500 regional leading economic groups.

The annual meeting was considered the most important event for the business community in the Asia-Pacific region to seek cooperation opportunities and send proposals to APEC senior leaders.

President Sang was invited to speak as a special guest at the session: "Strengthening Comprehensive Connectivity and Infrastructure Development".

The Vietnamese State leader emphasised that the Asia-Pacific region is enjoying new opportunities with the establishment of the ASEAN Economic Community and the signing of free trade agreements (FTAs), including the Regional Comprehensive Economic Partnership (RCEP) and the Trans-Pacific Partnership (TPP) agreements as well as connectivity in North East Asia.

He highlighted ASEAN’s great contributions to making initiatives, accelerating trade liberalisation and investment, and strengthening the connectivity in the framework of APEC and in the Asia-Pacific region.

Particularly, ASEAN member countries proposed “Bogor Goals” of free and open trade and investment in the Asia-Pacific at a meeting in Bogor, Indonesia, in 1994. They also made initiatives on the establishment of a free trade area in the Asia-Pacific region at a meeting in Hanoi in 2006. In 2009, they shed light on sustainable development and regional connectivity at a meeting in Singapore. Last year, they adopted a long-term plan on APEC investment and infrastructure development at a meeting in Bali, Indonesia, Sang said.

The Vietnamese President underscored that the 2014 - 2020 period will see a new development step of ASEAN, especially after the establishment of the ASEAN Economic Community that is expected to create a common market and a unified economic space for the whole region. Most commitments to trade liberalisation, investment and services mentioned in the free trade agreements between ASEAN and its leading partners will be completed, particularly the RCEP, with a view to enhancing FTAs between ASEAN and China, Japan and India, he stated.

Sang highly valued the leading role of regional enterprises in promoting regional connectivity. He called on businesses to make joint efforts in implementing the APEC connectivity roadmap adopted at high-level meetings in Bali and Beijing, with a focus on investment attraction via the PPP model.

APEC businesses should provide technical assistance to developing members to help increase their connectivity capacity, especially in education and training, human resource development, climate change adaptation, and other global challenges, Sang suggested.

The State Present also asked regional businesses to help ASEAN countries carry out overall plans on ASEAN connectivity and sub-region projects on infrastructure, as well as narrowing the development gap in ASEAN and the Greater Mekong Sub-region (GMS).

He hoped that regional businesses will help Vietnam in infrastructure development, capital mobilization, and capacity building.

Vietnam is currently giving priority to building the East-West Economic Corridor in the GMS and the development triangle between Cambodia, Laos and Vietnam. The country is also paying due attention to building the southern economic and the north-south economic corridors, seaport infrastructure, tourist attractions, industrial parks, and bordergate economic zones, Sang added.

Representatives from APEC businesses appreciated Vietnam’s positive results in its renewal, macroeconomic stabilization and economic restructuring process. They believed that Vietnam will continue to be an attractive destination for investors, and pledged to expand business in the country in order to grasp new opportunities. They also proposed recommendations to President Sang on policy measures to create favourable conditions for businesses operating in Vietnam.

The same day, President Sang and other APEC leaders attended a dialogue with member of the APEC Business Advisory Council (ABAC).

Participants at the dialogue spoke highly of practical recommendations made by the ABAC on orientations and measures to foster cooperation and tighten regional economic connectivity.