"Vietnam is committed to promoting sustainable economic growth among APEC member economies," President Luong Cuong said on July 15.

Vietnam strives to foster an open, inclusive, and sustainable economic future for the Asia-Pacific region, Cuong told Cho Hyun-sang, Chair of the APEC Business Advisory Council for 2025 and Vice Chairman of South Korea’s Hyosung Group, at their meeting.

Cuong also expressed his satisfaction with the recent progress in trade and investment relations between Vietnam and the other APEC member economies.

He added that Vietnam offers foreign investors favorable conditions for long-term, sustainable operations.

“Vietnam welcomes investment in high-tech industries in line with the country’s strategic development orientation based on science, technology, and innovation,” President Cuong said.

He called on the ABAC Chair and Vietnamese agencies to strengthen partnerships between Vietnamese companies and Asia-Pacific businesses.

He expected these partnerships to promote shared prosperity across the region and the world.

Cuong also praised the progress made under the 2025 APEC and ABAC meetings chaired by South Korea.

"The fact that Vietnam was selected to host the ABAC 3 meeting reflects our growing reputation in the Asia-Pacific region," he said.

“The ABAC 3 meeting is an important milestone for businesses to present their ideas, which will be submitted to the 2025 APEC Economic Leaders’ Meeting in October in South Korea,” Cuong added.

As this is one of the first events marking Vietnam’s preparations to host APEC in 2027, President Cuong called for support from businesses in APEC member economies.

President Luong Cuong said that Vietnam will make active contributions to the recommendations made by the APEC Business Advisory Council (ABAC) during its third meeting in 2025.

Cho Hyun-sang said that his meeting with the president and the presence of Vietnamese leaders at the ABAC III conference prove Vietnam’s strong commitment to supporting international businesses.

He said that Vietnam has shown its determination to improve its investment environment, enhance public-private dialogue, and support foreign investors in conducting sustainable operations in the country.

Cho also thanked Vietnam’s top leaders for helping Korean businesses, including Hyosung, with their operations in Vietnam over the years.

He said that the ABAC remains committed to making a positive contribution to building a prosperous, inclusive, and cohesive APEC economic community.

Hyosung’s vice chairman reaffirmed the corporation’s commitment to contributing more to Vietnam’s economic development in the future.