Cooperation and economic governance in the Asia–Pacific region

In a world of constant change, the gathering of leaders and heads of delegation from 21 APEC member economies once again underscored the forum’s indispensable role in advancing cooperation and economic governance across the Asia–Pacific.

The President delivers remarks at the APEC Summit. (Photo: XUAN KY)
The President delivers remarks at the APEC Summit. (Photo: XUAN KY)

It represents the convergence of leading global economic centres that sustain fair and stable trade and investment flows, ensuring harmonised benefits for all — people and businesses alike — while strengthening regional connectivity and integration.

Confidence in win–win cooperation

In late October, the city of Gyeongju in Gyeongsangbuk Province — renowned as one of the Republic of Korea’s foremost cultural and tourist centres — was unusually vibrant. The liveliness stemmed not only from its inherent vitality as a UNESCO World Heritage Site, but also from the flurry of political, diplomatic, and economic activities when leaders and heads of delegation from 21 APEC member economies gathered there for the APEC Forum.

State President Luong Cuong led the Vietnamese high-level delegation to attend the APEC 2025 Leaders’ Week, engaging in a series of multilateral and bilateral activities with leaders of other economies towards building a resilient, connected and forward-looking Asia–Pacific region. This also reflects the overarching theme of APEC 2025, “Building a Sustainable Tomorrow,” centred on three key priorities: Connectivity, Innovation, and Prosperity.

President Lee Jae Myung of the host country, the Republic of Korea, affirmed that the conference provided an opportunity for leaders to engage in open and constructive dialogue aimed at promoting trade and investment, strengthening mutual understanding, and working together towards the common goals of development and shared prosperity in the region.

In this overall context, as one of the fastest-growing economies in the region with an increasingly elevated international role and position, Viet Nam — confident and full of momentum as it enters a new era of development — will continue to make its utmost contributions to advancing APEC cooperation. The country aims to help build a future-ready Asia–Pacific that possesses the capacity and responsibility to play a pivotal role in ensuring global economic security and stability.

As President Luong Cuong shared at the APEC CEO Summit 2025, the success of Asia–Pacific region rests on deep economic integration, trade and investment liberalisation, a stable and transparent business environment, and leadership in science and technology. Equally important is the enduring belief in the power of solidarity and cooperation — core values that must continue to be nurtured and strengthened for the Asia–Pacific to remain the engine of global economic growth.

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President Luong Cuong attends the “Viet Nam Day” event. (Photo: XUAN KY)

The comprehensive and balanced viewpoints shared by Viet Nam on the Fourth Industrial Revolution, the region’s crucial role in the new era, and its practical proposals on APEC’s development directions and public–private partnerships in building an open, inclusive, and responsible AI ecosystem were warmly welcomed at this year’s summit.

The President’s messages and speeches across APEC events left a strong impression. Leaders and business communities expressed deep appreciation for Viet Nam’s decisive and transformative steps towards becoming a high-income developed country by 2045 and voiced confidence in the country’s success and enthusiasm for new opportunities for cooperation with Viet Nam in this process.

President Luong Cuong affirmed: “What matters most is mutual trust—the belief in win–win cooperation that will bring us the desired outcomes for a dynamic, modern, safe, happy, and prosperous Asia–Pacific for all its people.”

Walking alongside Viet Nam

Throughout his agenda, President Luong Cuong held numerous meetings with leaders of APEC economies and major global corporations, deepening bilateral ties with partners, mobilising resources, and conveying a strong message of a dynamic, open, and ever-progressing Viet Nam. Nearly four decades into doi moi (renewal), Viet Nam has achieved remarkable, historic accomplishments that lay a solid foundation for a breakthrough phase of national development to enter a new era.

The President affirmed that partners walking alongside Viet Nam will enjoy a secure and stable socio-political environment, a transparent and favourable business climate, a market of over 100 million people, a dynamic economy with strong growth and global connectivity; a young, abundant, well-trained workforce; and an increasingly modern and synchronised infrastructure system.

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President Luong Cuong meets with Park Heong-joon, Mayor of Busan, Republic of Korea. (Photo: XUAN KY)

The consistent, powerful directions and messages delivered throughout the visit generated strong resonance and engagement, inspiring greater interest in cooperation with Viet Nam among partners, friends, and businesses.

During his talks with President Luong Cuong, President Lee Jae Myung affirmed that the Republic of Korea always regards Viet Nam as a key partner in implementing its foreign policy in the region and stands ready to continue accompanying Viet Nam on its future development journey.

President Donald Trump also emphasised that the US values its Comprehensive Strategic Partnership with Viet Nam, supports ASEAN’s central role, and highly appreciates Viet Nam’s contributions to regional and international issues.

John Denton, Secretary-General of the International Chamber of Commerce (ICC), shared his deep admiration for Viet Nam’s economic development journey as well as the goals and solutions the country has set for itself. “We have always wished to be a friend and partner accompanying the growth of Vietnamese enterprises, and we look forward to participating in APEC 2027 events hosted by Viet Nam.”

Meanwhile, Li Li, founder of MEBO International (operating across 80 countries with headquarters in China and the US), noted that her group is implementing the first phase of a pharmaceutical and healthcare investment project in Viet Nam and hopes to receive government support to expand cooperation and make positive contributions to the development of Viet Nam’s pharmaceutical and medical industries.

Such companionship and collaboration not only foster development for Viet Nam but also for its friends, partners, and businesses themselves — laying the foundation for shared prosperity and a more just, humane international order, where innovation becomes the common language connecting humanity.

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