Addressing the 3rd meeting of the APEC Business Advisory Council (ABAC) in Da Nang City on August 25, Mr Triet declared that Vietnam is actively integrating into the world economy and it is striving to fulfil bilateral and multilateral commitments to international organisations.
He said that together with other regional economies, Vietnam is making every effort to maintain production, stimulate consumption and get over an economic downturn. Measures adopted by the government have begun to take effect, said Mr Triet, citing the fact that the country has maintained industrial and agricultural production, stabilised its financial market, revitalised the stagnate stock market and kept the consumer price index (CPI) under control.
With these measures in place, Vietnam is expected to achieve a GDP growth rate of 5 per cent this year, said Mr Triet.
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He also insisted that despite being a developing economy, Vietnam has created a favourable business environment for domestic and foreign investors to operate efficiently in the country.
ABAC 2009 president Teng Theng Dar analysed the regional economic situation, which he said requires the governments and business communities of all APEC countries to work together to solve problems and create favourable conditions for investment. He asked businesses to share their issues with the government and make recommendations for improving the regional business environment.
He expressed his belief that ABAC will continue to receive support from policymakers and the business community to build strong public and private relationships.
He went on to say that ABAC continues to pursue the Bogor Goals for a strong business community and priority areas to accelerate regional economic integration, maintain the sustainable development model, enhance capacity building and expand regional integration.
He said in the face of global and regional economic fluctuations, ABAC has given top priority to tackling challenges arising from the global economic crisis by stepping up the APEC Programme in order to meet the Bogor Goals for a free and open trade and investment in the region.
The 3-day event brings together nearly 200 chief executive officers from the leading regional economic groups, plus researchers and officials from the 21 APEC members. It includes sessions of the Advisory Group on Financial System Capacity-Building, the Sustainable Development Working Group and the Trade Facilitation Working Group.
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