President Nguyen Xuan Phuc attends the annual dialogue between leaders of the Asia-Pacific Economic Cooperation (APEC) economies and the APEC Business Advisory Council (ABAC). (Photo: VNA)

Mr. Phuc was speaking at the annual dialogue between leaders of the Asia-Pacific Economic Cooperation (APEC) economies and the APEC Business Advisory Council (ABAC) held as a videoconference on Thursday.

He said that all policies support both employees and employers, and the unemployment insurance fund, social welfare packages, and social resources are being used to help the poor and other vulnerable groups.  

He reiterated Vietnam’s strong commitment to net-zero carbon emissions by 2025 adding that Vietnam aims to cut 30% of its methane emissions by 2030 and raise its ratio of renewable energy to over 30%.

President Phuc called on APEC to combine economic recovery with digital transformation, green growth, and developing a circular economy, take bold measures against climate change, ensure the interests of the people, and support vulnerable groups. 

“Green growth and climate change response have been rolled out widely in Vietnam through different models. We need to enhance economic connectivity and ensure supply chains; bring the business climate closer to international standards while carrying out commitments under our new  free trade agreements (FTAs), including large-scale pacts with stringent standards such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam FTA (EVFTA) and the Regional Comprehensive Economic Partnership (RCEP)."

"Vietnam has more than 33,500 FDI projects with a total capital of 395 billion USD from 140 countries and partners. Vietnam will create every possible condition for the success of all businesses,” said President Phuc.