Hanoi, July 15, 2025 – The Europe Today: State President of Vietnam Lương Cường on Tuesday received Cho Hyun-sang, Chair of the APEC Business Advisory Council (ABAC) 2025 and Vice Chairman of the Republic of Korea’s Hyosung Group, along with ABAC members representing all 21 APEC economies. The meeting took place within the framework of the council’s third meeting (ABAC III) in the northern port city of Hải Phòng.
President Cường expressed appreciation for the selection of Vietnam as the host of ABAC III, calling it a reflection of the international business community’s high regard for the country’s growing stature and strategic role in the Asia-Pacific region.
He emphasized that this meeting holds particular importance, as it will help formulate policy recommendations from the business community for submission to APEC leaders at the upcoming summit in the Republic of Korea this October. The President expressed confidence in Việt Nam’s active contributions to shaping forward-looking recommendations that promote sustainable development, resilience, and inclusive growth across the APEC region.
President Cường noted that ABAC III is one of the initial activities marking Việt Nam’s early preparations for hosting APEC in 2027. He called on APEC business communities to continue their partnership and support to ensure the success of this future responsibility.
For his part, Cho Hyun-sang highlighted that ABAC III in Việt Nam signifies the country’s strong support for international business and its commitment to improving the investment climate. He noted the importance of public-private dialogue and applauded Việt Nam’s efforts to provide long-term, effective, and sustainable opportunities for foreign investors.
Outlining ABAC’s priorities for 2025, Cho emphasized the council’s focus on economic recovery and enhanced regional integration. He reaffirmed ABAC’s dedication to building a prosperous, inclusive, and interconnected APEC community. Cho also expressed his gratitude for President Cường’s presence at ABAC III and the Hải Phòng Investment Promotion Conference.
President Cường welcomed the progress in Việt Nam’s trade and investment relations with APEC members and reiterated that the Vietnamese Party and State continue to provide favorable conditions for foreign businesses, including ABAC members, to operate with confidence and success.
In his capacity as Vice Chairman of Hyosung Group, Cho shared updates on the company’s investments across various Vietnamese provinces. He reaffirmed Hyosung’s long-term commitment to contributing to Việt Nam’s economic development and thanked the Vietnamese Government for its continued support of Korean enterprises operating in the country.
President Cường commended Hyosung’s business operations and reiterated Vietnam’s encouragement of investment in high-tech and innovation-driven sectors, which align with the country’s national development goals centered on science and technology.
He also called on Cho and ABAC leaders to support enhanced cooperation between Vietnamese businesses and partners across the Asia-Pacific and assist in Vietnam’s preparations to host APEC in 2027.
On this occasion, ABAC Chair Cho Hyun-sang extended an official invitation to President Lương Cường to attend and deliver remarks at the APEC CEO Summit in October 2025.
