KBC

The 29th Asia-Pacific Economic Cooperation (APEC) Summit Week was held in Bangkok City, Thailand from November 14 to November 19, 2022. Attending the APEC Summit Week 2022 and participating actively in ABAC's activities, especially in the dialogue session between ABAC and Leaders of APEC member economies, Mr. Dang Thanh Tam - Chairman of the Board of Directors of KBC and the only official representative of Vietnamese enterprises - had the opportunity to meet and interact with many leaders and representatives of APEC member economies, as well as joined meetings with senior leaders of APEC and of many large organizations, enterprises attending the Summit, creating a premise and many valuable and effective opportunities to cooperate with sizeable partners for KBC and member companies of SGI Group.

The most important event of the APEC Summit Week was the APEC Economic Leaders' Meeting, which took place on November 18, with the participation of leaders and representatives of 21 member economies and 3 special guests of the host country’s government. With the theme "Open - Connect - Balance", the 29th APEC Economic Leaders' Meeting discussed three priority orientations of APEC cooperation, including: to be open to all opportunities, connected in all dimensions and balanced in all aspects, in order to promote economic growth along with environmental sustainability.

At the dialogue session between ABAC and leaders of APEC member economies, Mr. Dang Thanh Tam was in the table with: President of Indonesia, Prime Minister of Thailand, Prime Minister of Japan, Representative of the President of the United States, Representative of the economy of Taiwan, Vice President of Chile, Representative of the Sultan of Brunei

Chairman of KBC and ABAC member - Mr. Dang Thanh Tam participated in the direct dialogue with Prime Minister of Japan – Mr. Kishida Fumio

Mr. Dang Thanh Tam took a photo with Prime Minister of Canada – Mr. Justin Trudeau and ABAC members

Within the framework of the APEC Summit Week, the meeting of APEC Business Advisory Council (ABAC) was also held from November 16 to November 18. ABAC's primary role is to advise APEC leaders and officials on issues concerning in the trade sector. Mr. Dang Thanh Tam attended the Conference as a Member of ABAC. This year's ABAC aimed to reconnect the world with opportunities, engage in a new, sustainable and inclusive model of digital transformation, and facilitate collaboration on ideas, new creativity and possibilities.

Representative of President of the United States, Mr. Dang Thanh Tam, Prime Minister of Thailand - the host country of APEC 2022

Entrepreneurs representing 21 economies attended the 2022 APEC Summit Week

An important activity for ABAC at the APEC Summit Week was the dialogue session between members of the APEC Business Advisory Council (ABAC) and leaders of APEC member economies taking place on the afternoon of November 18. This dialogue session is an activity held annually within the framework of the APEC Summit Week, for leaders to listen to recommendations and to have substantive exchanges with the business community in the Asia-Pacific region.

ABAC’s dialogue session with Leaders of APEC member economies

Chairman Dang Thanh Tam participated in the dialogue session between ABAC members and leaders of APEC member economies

In a report submitted to APEC leaders, ABAC members expressed concern that major geopolitical, economic and environmental challenges would negatively impact the realization of APEC's 2040 Vision. Accordingly, ABAC has made many recommendations to control inflation, to end the wage-price spiral in the short term and to accelerate a sustainable economic recovery. To achieve sustainable, inclusive and resilient growth, APEC needs a comprehensive approach to implement and cooperate in the fields of environment and climate change; clean energy transition and digital transformation; regional economic linkage and integration; and support the business community to adapt to and recover from the pandemic.

The leaders welcomed the important recommendations and contributions of the business community to the post-pandemic economic recovery; stated that they would consider business proposals in the process of developing APEC's cooperation orientation, as well as in specific policies of each economy, in order to bring more practical results to the people and the business community.

Speaking at the dialogue session, President of Vietnam – Mr. Nguyen Xuan Phuc suggested that APEC committees and ABAC committees need to engage in dialogue and actively cooperate in implementing the long-term vision on trade and investment in Asia-Pacific region and strengthening the multilateral trading system. The President affirmed that Vietnam supported a multilateral trading system based on principles and rules, with the WTO as the center. In the context of many newly formed bilateral and regional mechanisms, the WTO is still considered as a "foundation" for multilateral cooperation mechanism to help maintain stability and equality in international trade and economic relations, which contributes to globally sustainable economic development. The President proposed ABAC shall continue promoting its active role in APEC for a peaceful Asia-Pacific region, sustainable development and prosperity for all people.

From November 16 to 18, the APEC CEO Summit also took place with the participation of more than 850 leaders of leading global and regional businesses and representatives of international organizations. President of Vietnam – Mr. Nguyen Xuan Phuc, President of China – Mr. Xi Jinping, Prime Minister of Thailand – Mr. Prayut Chan-ocha, President of France – Mr. Emmanuel Macron, President of Indonesia – Mr. Joko Widodo and Vice President of the US – Mrs. Kamala Harris were the main speakers of this year’s Summit.

Speaking at this conference, President Nguyen Xuan Phuc shared Vietnam's priority in attracting investment selectively, considering quality, efficiency, technology and environmental protection as the main evaluation criteria. Vietnam wished to attract FDI projects with high technology, to help promote innovation and research development, create conditions for Vietnamese enterprises to participate in regional and global value chains and to develop a digital – green – circular economy. President Nguyen Xuan Phuc emphasized from his experience that Vietnam shared the importance of "accompanying businesses"; considering businesses as the center; sharing, listening and solving difficulties and problems for enterprises in all situations; at the same time, promoting facilitation, reform and simplification of administrative procedures. Vietnam hoped that the APEC business community would uphold the spirit of cooperation, overcome difficulties and challenges, and continue to promote investment and business activities in the region. President Nguyen Xuan Phuc's speech received the attention and appreciation of the business community.

The Asia-Pacific Economic Cooperation (APEC) Summit Week ended at noon on November 19 with a joint statement of APEC economic leaders emphasizing their determination to raise cooperation in economic recovery, promote balanced, sustainable growth and inclusive connectivity.