The Vietnam Chamber of Commerce and Industry (VCCI) recently held a working session with Hai Phong City to prepare for the third meeting of the APEC Business Advisory Council (ABAC 3), scheduled to take place from July 15 to 18, 2025.
Overview of the meeting between VCCI and Hai Phong People’s Committee to organize ABAC 3
This event is not only an important APEC business forum but also a valuable opportunity for Vietnamese enterprises to connect with leading corporations in the Asia-Pacific region.
At the meeting, Mr. Nguyễn Quang Vinh – Vice President of VCCI – emphasized that hosting ABAC 3 in Hai Phong is a strategic move to promote Vietnam’s investment and business environment, while also allowing the city to showcase its development potential in high technology, logistics, and green industries.
Mr. Vinh noted that in 2025, South Korea will chair APEC, and the 2025 ABAC Chair will be the Vice President of the Hyosung Group. Hyosung is currently the third-largest South Korean FDI investor in Vietnam, with a total capital of USD 4 billion and around 10,000 jobs created. The group is also developing two major projects in Ba Ria - Vung Tau: a biotechnology manufacturing plant and a carbon fiber production facility, with a combined capital of USD 1.3 billion.
According to Mr. Vinh, Hai Phong should seize this opportunity to make a strong impression on ABAC in general and the leadership of Hyosung in particular, thereby increasing its chances of attracting further investment.
During the session, VCCI leaders highlighted the significance of ABAC 3 for both Vietnam and Hai Phong. ABAC is a highly influential business forum in the Asia-Pacific region, comprising business leaders appointed by APEC heads of state. In 2025, Vietnam will host ABAC 3 under the theme “Bridging. Business. Beyond,” which emphasizes the role of international cooperation and the strength of the business community amid global economic uncertainties.
The event is expected to attract around 180 delegates, including leaders of major corporations, high-ranking APEC officials, and economic experts. The program will include closed-door ABAC meetings, trade and investment promotion conferences, and side events to connect Vietnamese businesses with global markets.
Notably, VCCI plans to invite the President of Vietnam to attend and deliver the opening speech, signaling the country’s strong commitment to the APEC business community. Additionally, delegates will tour exemplary economic models such as the LG Display Vietnam Industrial Park in Trang Due, and experience local culture and specialties through exhibitions.
Mr. Nguyễn Văn Tùng, Chairman of the Hai Phong People’s Committee, stated that ABAC 3 would reinforce Hai Phong’s position as an industrial, seaport, and logistics hub, and open up new opportunities for cooperation with multinational corporations.
The Chairman affirmed the city’s readiness to provide full support, assigning departments and agencies to prepare investment promotion materials. The Department of Planning and Investment will develop a detailed program, while the Economic Zone Authority will prepare a comprehensive investment promotion plan and closely coordinate with VCCI on all activities.
Hai Phong, strategically located as the northern economic gateway, is emerging as a center for high-tech investment and sustainable development. A notable participant in the event is Hyosung Group (South Korea) – a major FDI investor in Vietnam, currently implementing high-tech projects totaling USD 4 billion. Hosting ABAC 3 will provide Hai Phong with a golden opportunity to attract more investment from such corporations and strengthen its regional economic stature.
In fact, Vietnam is not the first country to use APEC forums to promote investment. Economies like Singapore and Chile have successfully leveraged ABAC to drive economic growth, attract global businesses, and enhance national branding. With its growing and increasingly integrated economy, Vietnam can learn from these models to enhance its appeal to international investors.
Hosting ABAC 3 in Hai Phong is an opportunity for Vietnam to affirm its regional role and drive development for domestic enterprises. To maximize the benefits of the event, authorities and businesses must work closely together to ensure high-quality organization, effectively promote the business environment, and seize cooperation opportunities with strategic partners.
Looking ahead, the success of ABAC 3 will lay a solid foundation for Vietnam to host even larger APEC events in 2027. This is a critical moment for Vietnamese businesses to go global, capitalize on integration advantages, and assert their position in the international economic arena.