Vietnamese President calls upon businesses to support APEC’s developing economies

Beijing, November 11 (VNA) - President Truong Tan Sang requested Asian-Pacific businesses continue their technical support in developing APEC economies at APEC CEO Summit 2014 in Beijing. As a special guest at the APEC CEO Summit 2014 on November 10 in Beijing, which focused on strengthening regional links and boosting investment, infrastructure and policy, he addressed representatives of more than 1,500 leading regional companies. He asked the business leaders to undertake maximum efforts to implement the APEC connectivity framework and roadmap passed at the Summits in Bali and Beijing by mobilising capital and involving in public-private partnership models. President Truong Tan Sang called upon Asian-Pacific businesses to increase their support for ASEAN members in implementing the ASEAN master plan on connectivity, as well as sub-regional projects on infrastructure and narrowing the development gap between the ASEAN mainland and Mekong sub-region. The Asia-Pacific region is facing new of great opportunities with the formation of the ASEAN Economic Community and a new generation of free trade agreements, including the Regional Cooperation and Economic Partnership (RCEP) and the Trans-Pacific Partnership (TPP), he said. The President highlighted ASEAN’s contributions to initiating and promoting trade liberalization and investment and increasing regional connections as part of the APEC framework and the Asian-Pacific region. ASEAN members put forward the Bogor goals in Indonesia in 1994, the idea for an Asian-Pacific free trade area in Hanoi in 2006, the sustainable development and regional connectivity initiative in Singapore in 2009, and the APEC long-term plan on infrastructure development and investment in Bali in 2013, he noted. He pointed out that the next few years will be a new and dynamic development period in the Southeast Asian region with the establishment of the ASEAN Community, creating a single market and a united economic space for the whole region. Almost all the negotiations with partners on the agreements on trade liberalisation, investment and services will be concluded soon, especially the RCEP, and the expanded and upgraded free trade agreements between ASEAN and China, Japan and India, he said. Regional connectivity is a key pillar in Vietnam’s processes of reform and comprehensive international integration, he said, calling on the business community to continue supporting Vietnam with infrastructure development, capital resources, technology and capacity building measures. The country’s current priorities include building the East-West Economic Corridor in the Greater Mekong sub-region; expanding the Cambodia-Laos-Vietnam economic triangle, the southern economic corridor and the north-south economic corridor; and developing seaport infrastructure, economic and tourism hubs, and industrial and border economic zones, the President said. Participants at the event spoke highly of Vietnam’s achievements so far in reform, macro-economic stabilisation and economic restructuring. Business leaders expressed their belief that Vietnam will continue to be an attractive investment destination, pledging to expand their operations in the country. The firms also proposed a number of measures and policies to create optimal conditions for investors in Vietnam. Entitled “New Vision for Asia-Pacific: Creativity, Integration, Prosperity,” the two-day APEC CEO Summit 2014 is the most important business event during the APEC Leaders Week, attracting the participation of more than 10 APEC leaders. The summit also provided space for discussions on major issues faced by APEC economies and regional enterprises, including the multilateral trade system, creative economy development and the establishment of an Asian-Pacific free trade area.-VNA