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Opening Remarks by Chair of 2017 APEC CEO Summit Dr Vu Tien Loc at 2017 APEC CEO Summit

Posted: Thursday, November 09, 2017

Good afternoon!
President of Vietnam Tran Dai Quang,
Distinguished guests, ladies and gentlemen,

In the last few days, a massive typhoon hit central Vietnam. On behalf of each and everyone one of you here this week, I extend our deepest sympathies to the thousands of families facing hardship due to the devastation inflicted by Typhoon Damrey.

I would also like to express my sincere thanks to all of you who are in this beautiful and friendly city of Da Nang despite the typhoon. We are only 15-20 minutes away from the ancient seaport town of Hoi An which was known as the busiest international seaport for Vietnam and South East Asia in the 17th century. This is an evidence of Vietnamese spirit of openness and integration early on in our history.

This year, in Da Nang, Viet Nam has the honour to be the 2017 APEC host. More than 2000 top CEOs and APEC economic leaders are here to discuss the future of globalisation and measures to promote free trade and regional integration. This is the largest CEO Summit in APEC’s history. It takes place at a critical time for the region - a time when together we must create new dynamism for a shared future, a time when globalisation and regional integration need to be re-defined in order to meet the challenges of the new era.

We talk about globalisation and the future of the APEC economies. According to the agenda, we will start with jobs and human resources – the most important resources of our new economies. We will also talk about job-generating industries of the future. Putting human resources and jobs first means that we place people and businesses in the centre of development – the highest value that all APEC economies are following.

We will also discuss how to promote regional linkages, and new frontiers of free trade, digital age and technology, effective use of natural resources and sustainable development.

These are hot topics on the agenda, for the development of APEC and the world economy in the third millennium.

The 2017 APEC CEO Summit is the meeting venue of the giants and think tanks. It is the confluence of the future shapers of the global and regional economies.
In this forum, the APEC business community is pleased to welcome President of Vietnam Tran Dai Quang, President of the United States Donald Trump, President of China Xi Jinping, and other economic leaders of the region that accounts for almost 60% of the world GDP and 50% of global trade and investment.
It is hoped that the vision and the messages from the leaders will help define the future of the world and APEC economies, reinforcing our belief in a free and just trade.

We appreciate the efforts by the business community, represented by the leading CEOs here in this meeting. It is you, through trans-national value chain established in the recent decades, who have impacted changes in the development history of the APEC economies. As a result, APEC has become the champion in the global economy.

However, APEC is facing with a great number of challenges and difficulties which are seen as ‘the new normal’, including slow growth rates, low productivity and increasing inequality. These are obstacles to globalisation and reasons for a return of protectionism. More than ever, inclusive development and integration for a common future of prosperity is a must for all APEC economies. 

In order to achieve inclusive development goals, governments and businesses need to work together to create an enabling environment and a launching pad for strong development of micro, small and women-owned enterprises, especially in sustainable rural and agricultural development.

No matter which part of the vast Pacific rim you come from, I believe that we all share universal values. Jesus Christ teaches “love your neighbour as yourself”. Confucius teaches “what you do not want done to yourself, do not do to others”. In Vietnamese, a similar proverb says “love your neighbor as yourself” (thuong nguoi nhu the thuong than). The affinity in the ancient wisdom regardless of what culture it is from, shows that we can build a shared future for APEC as reflected in the theme of this CEO Summit.

I am confident that a three-horse carriage with three horses being globalisation, the fourth industrial revolution and institutional reform in APEC economies will help create favourable and transparent business environments, strengthen linkages among micro, small, medium and major enterprises in the global value chain. It is a win-win future where no one is left behind. It is not only an aspiration but should also be a reality in our time.

I am also confident that the 2017 APEC CEO Summit will go into history as an important milestone of that consensus.

With that, I wish to declare the opening of the 2017 APEC CEO Summit. I wish you success.

The 2017 APEC CEO Summit: We Mean Business!

Thank you!

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