The central city of Da Nang will host the Asia-Pacific Economic Co-operation (APEC) Summit from November 5 to 11. Top officials and more than 1,000 CEOs along with 15,000 guests from 21 member economies will take part.

People and expats living in Da Nang share their views on the event with Viet Nam News reporters Hoai Nam and Phuoc Buu.

Dale Gerstenslager, US expat

When I first heard that Viet Nam’s central city of Da Nang would host APEC 2017, I was strangely proud and thought that it was an exciting opportunity to showcase the remarkable progress and development that Viet Nam has accomplished over the last decade.

Showcase: American Dale Gerstenslager believes APEC is a testament to Viet Nam’s growing importance.

Hosting APEC is quite a coup and one more testament of Viet Nam’s importance and growing stature on the world stage. Let’s pull together and show the world what’s being done in Viet Nam.

I think it is chance to develop relationships that will build trust.

Kozaburo Yazawa, Japanese expat

Since the media multitude represents the world, it is a big opportunity for people to learn the name of Da Nang. It is also great that the President of the United States will come. This should lead to investment from more member economies - and more tourists.

APEC is similar to the Olympics and Expo. As the Government had to arrange the international conference, public works projects increased. After APEC is over, many foreigners will visit after learning about Da Nang.

However, regarding the construction of hotels, it is a matter of over-supply I feel. I expect that the value of real estate will fall a little after APEC. Many rules were changed for APEC. I could not get a construction licence for a restaurant on the main street for a long time.

There are many problems, but that is due to the development of Da Nang, not a negative thing I suppose. As Japan’s Prime Minister Abe will also visit  APEC, I hope it leads to more Japanese visitors and investment.

Nguyen Thi Kim, 58

I feel APEC is a strange event for local people. Pavements have been newly tiled and sign boards promote the event at busy traffic roundabouts and road crossings.

Little impact: Hotel owner Nguyen Thi Kim says APEC is largely for upmarket hotels and restaurants.

I manage a coastal three-star hotel, but it’s still quiet in the low season - as usual. APEC’s delegates may stay at four and five-star hotels and resorts, but not two and three-star hotels.

APEC may be a major event for the city’s administration, but not really many local people. The city hosts the event, but main preparations are covered by central governments and agencies in co-operation with local departments.

I have some hope APEC will lead to economic and tourism growth in the city.

Nguyen Xuan Binh, 41

I really hope APEC will help boost Da Nang City’s economic growth. It will not happen in a few weeks or months after APEC, but the city will become known worldwide when its name is repeated at business forums and in APEC member economies.

Time: Nguyen Xuan Binh believes it will take time for the benefits of the summit to sink in.

APEC is a big opportunity for Da Nang as business people, CEOs and journalists from 21 member economies attend. The preparation of the city will be highly appreciated by officials, businesses and tourists.

The many destinations available through Da Nang - and its pristine white beaches - will be remembered by participants, while the hospitality of residents, volunteers, restaurants and hotel owners will boost the tourism brand of the city. The city also launched the Da Nang Smile campaign during APEC to promote good manners.

APEC will be really a field trip in exploring the investment opportunities and potential of Da Nang and central Viet Nam. It’s also a big chance for industries such as tourism, hi-tech, property, green tech and services seeking partners.

I think the impact of APEC on Da Nang’s economic growth will come several years after APEC as foreign businesses learn of the city’s investment environment and priority policies.

Victor Ceano, candy maker, Spain

I think that an event like APEC, apart from helping to put Da Nang in the map, will generate a psychological push for the local economy.

Candy maker: Victor Ceano thinks APEC will provide a psychological push for Da Nang.

At the end of the day, it is possible that the direct influence on the local economy will not be enormous, but it is clear to me that the momentum that it will generate will be highly positive.   

I founded Pop Keo, a sweets and chocolate company in Da Nang last year using Ben Tre chocolate and Quang Trị honey. Thanks to the event, some embassies and companies will order chocolates and sweets from me as gifts for their contacts.

Stuart Neal, publisher, Australian

The fact that APEC will be held in Da Nang is not particularly relevant for big picture decisions and high level summit meetings. A lot of that stuff is probably known in advance by the main players and the meeting of economists with politicians at this level could happen anywhere.

New deals: Australian Stuart Neal believes the summit is the place where new deals will be forged.

Viet Nam is playing host to some of the most influential decision makers in the world, creating a fantastic opportunity to be heard before and after the big summit meetings and at dinners and functions during the process in every economic sphere of interest to Viet Nam.

This is where new deals may be forged and probably these unofficial discussions will be of more importance to Viet Nam than attempts to reach consensus in an environment where growing protectionist policies from the US appear to be disrupting former accords and creating mayhem.

Le Thi Thuy An, accountant

The APEC Summit provides a good chance for people to get to know Da Nang, the most vibrant city in the country. The event is also helpful for local businesses servicing delegates from 21 member economies.

Paving the way: Accountant Le Thi Thuy An believes the event will pave the way for better understanding of women.

The city’s leadership is shifting from old to new. And I think APEC held in the city offers a great chance for city authorities to have an overview on both achievements and shortcomings.

Furthermore, I overheard that the summit will make decisions over discussions by APEC forums in Hue on women and women-owned businesses. I believe APEC leaders will agree on policies that pave the way for greater contribution of women in economic development. 

VNS