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

President Nguyen Xuan Phucmade the remarks while addressing as an honorary guest at the APEC CEO Summit2021.

The event, hosted by Aucklandcity of New Zealand, takes place both in person and via videoconference onNovember 11 - 12, attracting about 4,500 participants who are leaders of topenterprises in the Asia-Pacific region.

In his speech, President Phuchighly valued the role of APEC over the last three decades, affirming thatsustainable development and climate change response bears strategic importanceto not only the business community, but also to APEC member economies and theworld as a whole.

He held that responding to climate change is the sharedresponsibility of all countries and economies. It requires innovative andeffective international cooperation, enhanced assistance in providing moreresources and new technologies, and capacity building for developing countries.

In its policy, each State needs topursue long-term interest, and promote a comprehensive approach. All states, given their leading role, should avoid doing the work of otheractors in the society. They instead should encourage the formulation ofsuitable institutions and benefits to mobilise resources from businesses andthe 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 withthe greenhouse gas emission goals and indexes of their respective countries; invest in the future by focusing on projects in clean energy and new technologydevelopment; and establish green supply chains and encourage environmentally-friendlybehaviours by consumers.

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

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

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