Comprehensive digital transformation fuels APEC new momentum

Prime Minister Nguyen Xuan Phuc has reiterated Vietnam’s determination to partnerwith APEC member economies to turn its vision and aspirations into peace, stability and happiness of people in the region.

VOV, VOVworld, 27th APEC Economic Leaders’ Meeting, 27th APEC Economic Leaders’ MeetingParticipants at the virtual 27th APEC Economic Leaders’ Meeting on Friday (chinhphu.vn)

Addressing the 27th APEC Economic Leaders’ Meeting on Friday, the Prime Minister shared orientations to promote economic recovery and response to the COVID-19 pandemic. He highlighted the need to uphold the spirit of cooperation and the sense of responsibility for the international community:

“Comprehensive digital transformation should be a new driving force for APEC to enhance its core values during the fourth Industrial Revolution. APEC must enhance its active role in the promotion of rule-based multilateral trade mechanism and renovated WTO in line with new framework of the digital economy. APEC needs to lead Asia-Pacific to become an innovation and technological hub, develop digital human resources, strengthen connectivity and narrow development gaps,” Mr. Phuc said.

The Prime Minister spoke highly of APEC’s development achievements and called for more efforts in securing sustainable and inclusive growth: “Sustainable and inclusive development, response to non-traditional security challenges, particularly natural disasters, water resources and climate change, need to become new pillars of regional collaboration.Accordingly, people and businesses should be placed at the centre of economic development and connectivity. APEC needs to help its member economies develop in a smarter, greener and more inclusive way.”

At the meeting, leaders of member economies approved the APEC Putrajaya Vision 2040 and the Kuala Lumpur Declaration 2020.

Leaders said the APEC Putrajaya Vision 2040 will be achieved by pursuing three economic drivers: trade and investment; innovation and digitalisation; strong, balanced, secure, sustainable and inclusive growth.

With this outcome, the 27th APEC Economic Leaders’ Meeting completed the implementation of the initiative on building the Post-2020 APEC Vision proposed by Vietnam and adopted at the 25th APEC Economic Leaders’ Meeting held in the central city of Da Nang in November 2017.

At the end of the event, Prime Minister of New Zealand Jacinda Ardern officially received the role as the host of the 28th APEC Economic Leaders’ Meeting.

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