The Asia-Pacific Economic Cooperation (APEC) has not only been serving as a driver for global growth, facilitating trade and investment, but also playing a pioneering role in responding to natural disasters, developing clean energy, preserving biodiversity, and stepping up trade in environmental goods.

President Nguyen Xuan Phuc made the remarks while addressing as an honorary guest at the APEC CEO Summit 2021.

The event, hosted by Auckland city of New Zealand, takes place both in person and via videoconference on November 11 - 12, attracting about 4,500 participants who are leaders of top enterprises in the Asia-Pacific region.

In his speech, President Phuc highly valued the role of APEC over the last three decades, affirming that sustainable development and climate change response bears strategic importance to not only the business community, but also to APEC member economies and the world as a whole.

He held that responding to climate change is the shared responsibility of all countries and economies. It requires innovative and effective international cooperation, enhanced assistance in providing more resources and new technologies, and capacity building for developing countries.

In its policy, each State needs to pursue long-term interest, and promote a comprehensive approach. All states, given their leading role, should avoid doing the work of other actors in the society. They instead should encourage the formulation of suitable institutions and benefits to mobilise resources from businesses and the people, and build upon public - private projects for green growth, according to Phuc.

Giving several recommendations to enterprises, he said each business needs to develop a roadmap to cut emissions in line with the greenhouse gas emission goals and indexes of their respective countries; invest in the future by focusing on projects in clean energy and new technology development; and establish green supply chains and encourage environmentally-friendly behaviours by consumers.

He noted that the State, businesses and people of Vietnam fully understand the intertwined risks and opportunities beforehand, and pledge to take bold action to transition to a green growth model and comprehensive response to climate change.

“In this process, Vietnam looks forward to the closer cooperation with APEC member economies, countries, and businesses at home and abroad. Apart from further improving its business and investment environment, Vietnam is also offering incentives for enterprises to seize the opportunities to provide green products and services. In addition, Vietnam is also ameliorating its institutions and policies pertaining to green and innovative corporations, and eco-industrial parks,” he remarked.

"These policies, together with our market of 100 million people and vast network of ratified 14 FTAs, will open up opportunities for foreign investors to work with the country, and together share the fruits of sustainable development," President Phuc added./.

Source: VNA