The first-ever Viet Nam Business Summit will be held in Da Nang City on November 7 within the framework of the Asia-Pacific Economic Cooperation (APEC) meeting of 21 leaders of economies, the Viet Nam Chamber of Commerce (VCCI) announced on Monday.

The Vietnam Business Summit (VBS) is one of four major business events planned for the APEC Economic Leaders’ Week. They also include the fourth meeting of the APEC Business Advisory Council from November 4 to 6, a meeting between the APEC Business Advisory Council (ABAC) and the APEC Economic Leaders, and the APEC CEO Summit, expected to draw 1,200 delegates from the forum’s member economies.

The VBS will be held in conjunction with investment promotion exhibitions by 63 provinces and cities across the country.

Focusing on business opportunities in Viet Nam, the VBS is expected to be held annually from next year.

“The activities of businesses during APEC will focus on two areas, which are the contribution to policy formulation and investment and business connection,” VCCI head Vu TienLoc said at yesterday’s press conferenc.

Reporting on the outcome of the previous ABAC meeting in Toronto in July, Hoang Van Dung, ABAC Chair, said participants agreed that trade liberalisation has generated great social benefits, helping millions of people escape poverty.

Dung said business leaders expressed their support for multilateral trade while agreeing to continue the Free Trade Area of the Asia-Pacific (FTAAP), pursuing the new agenda on services, removing non-tariff barriers, facilitating trade and investment, and putting forth a post-2020 Vision for APEC.

They also backed the APEC connectivity programme and suggested intensifying digital and internet connectivity, facilitating the movement of skilled workers, developing a contingent of quality labourers and enhancing the participation of micro-, small- and medium-sized enterprises in the global market via digital economy and e-commerce.

APEC Finance Minister Meeting

Also within the framework of APEC, the Ministry of Finance (MoF) will organise the 24th APEC Finance Ministers’ Meeting (FMM) on 21 October in Hoi An City in the centre province of Quang Nam, MoF announced yesterday.

Vu Nhu Thang, Director of the International Co-operation Department under the MoF said some 300 delegates including Finance Ministers, leaders and representatives of MoF and Central Banks from APEC member economies, leaders of international organisations such as International Monetary Fund (IMF), WB, ADB, OECD will participate in the FMM.

On the agenda are the global and regional economic outlook, outcomes of the FMP on the four policy priorites of 2017, updates on implementation of the Cebu Action Plan, and other relevant issues.

The Ministers will also spend time in a dialogue with the APEC Business Advisory Council (ABAC) and leaders of major enterprises and business groups in the region.