The third meeting of the APEC Business Advisory Council (ABAC III) is scheduled to take place in the northern port city of Hai Phong between July 15-18, according to an announcement at the city's press conference held on July 14.

This marks the biggest international event to be hosted by the new city of Hai Phong since it has been formed on July 1 as a result of the merger between the former Hai Phong and its neighboring province of Hai Duong.

Within the framework of the ABAC III, an investment promotion conference, themed “Hai Phong – A Strategic Destination in the New Era”, will be held, during which Hai Phong City will present investment registration certificates for 32 projects and sign seven Memoranda of Understanding, with total committed capital exceeding $15.6 billion.

These projects include investments from Europe and the US, reflecting the growing interest of global investors in the city's business environment and development potential.

The ABAC III and the investment conference are good opportunities for Hai Phong to introduce its investment environment, economic potential and investment and business promotion policies to APEC economies, according to Mr. Le Trung Kien, head of the Hai Phong Economic Zone Authority.

They will also create opportunities for Vietnamese enterprises to meet international investors and establish long-term partnership, he said at the press conference.