In April, Worldsteel estimated Vietnam’s crude steel output at 2.1 million tonnes, up 4 per cent on-year. With this production level, Vietnam surpassed Italy to break into the top 10 countries with the world’s largest steel industries.

In the first four months of 2026, Vietnam produced a total of 8.5 million tonnes of crude steel, representing an 8.4 per cent increase compared to the same period in 2025.

Iran, which had remained in the top 10 until February, dropped to 12th place with output of 1.8 million tonnes. This decline followed Israeli airstrikes on two major Iranian steel plants, which severely disrupted the country’s steel industry. Given the ongoing tensions between the US and Iran, Vietnam is expected to maintain its position among the world’s top 10 throughout 2026.

According to the Vietnam Steel Association, Vietnam’s industry has made remarkable progress in both production scale and product diversity. In 2000, domestic steel mills largely depended on imported billets to roll construction steel for the local market.

However, since 2010, Vietnam’s steel industry has achieved major breakthroughs in self-sufficiency, producing a full range of steel products to meet the demands of the economy, including mechanical engineering, shipbuilding, energy projects such as wind power and offshore rigs, as well as the defence industry.

Several large-scale and modern integrated steel complexes have been developed and put into operation, notably Hoa Phat Group’s Dung Quat integrated steel complex. The facility has pioneered the production of high-grade and technically demanding steel products, including engineering steel, tyre cord steel, welding wire steel, spring steel, bolt and screw steel, crane steel, prestressed steel, high-speed railway rail steel and structural steel.

In 2023, Vietnam ranked 12th globally in crude steel production, with an output of 20 million tonnes. By 2025, the country’s crude steel output reached 24.6 million tonnes, the largest in Southeast Asia and the 11th highest in the world.

Among producers, Hoa Phat Group made the largest contribution with 11 million tonnes, accounting for 44.7 per cent of total output. Other major contributors included companies under Vietnam Steel Corporation and Formosa Ha Tinh Steel.

In 2026, crude steel production at Hoa Phat is projected to exceed 14 million tonnes, up 30 per cent from 2025.

Steel industry faces challenges in 2026 The domestic steel industry has positive prospects in 2026, though rising competition and export headwinds are widening performance gaps among producers.

Hoa Phat launches steel pipe manufacturing facility in Tay Ninh On April 18, Hoa Phat Group held the inauguration ceremony for its Hoa Phat Long An Steel Pipe Plant in Tay Ninh, marking a new step in the group’s strategy to expand market share.

Pebsteel factory gains LEED Gold for sustainable operations Pebsteel’s factory in Ho Chi Minh City has been awarded LEED Gold certification from the US Green Building Council, marking a significant milestone in the company’s sustainable development journey.

The event took place while Vietnam and the European Union enter a new phase of cooperation, following the upgrading of bilateral relations to a comprehensive strategic partnership in January. The enhanced partnership provides a stronger framework for cooperation across trade and investment, green and digital transition, science and technology, energy, and sustainable development.

The event was attended by the European commissioner, the ambassador of the European Union to Vietnam, and ambassadors and diplomatic representatives from EU member states in Vietnam

Vietnam’s journey to net zero will be driven not only by policy, but by innovation, Commissioner Zaharieva said.

“Energy efficiency is one of the most practical and immediate ways to reduce emissions while supporting growth, competitiveness and energy security. Today, Vietnamese startups are already showing what is possible. Through initiatives like the EU-supported Startup Accelerator, we are proud to help connect Vietnamese innovation with European networks and expertise, so that more solutions like VEEP can scale and contribute to a sustainable future for Vietnam and beyond,” Commissioner Zaharieva said.

In her opening remarks, Nguyen Thi Lam Giang, director general of the Agency for Innovation, Green Transformation, and Industrial Promotion under the Ministry of Industry and Trade (MoIT), said: “We believe that today’s event is not only an opportunity to reflect on the achievements of the AIS4EE project, but also to open up new avenues for cooperation among government agencies, enterprises, investors, start-up support organizations, and development partners from Vietnam and the European Union.”

For Vietnam, energy efficiency plays an important role not only in cost optimisation, but also in balancing and managing energy demand, strengthening industrial competitiveness, and contributing to the realisation of the country’s climate goals. It is also an area where new technologies, entrepreneurship, and investment can come together to develop solutions that respond to the practical needs of the economy, particularly across industry, buildings, and transport.

The AIS4EE forms part of the EU–Vietnam Sustainable Energy Transition Programme, funded by the European Union and hosted by the MoIT. The AIS4EE is co-funded and implemented by the Global Green Growth Institute (GGGI). Supporting the implementation of Vietnam’s National Energy Efficiency Programme for 2019–2030, VNEEP3, the project has worked to strengthen innovation, investment readiness, and ecosystem conditions for energy efficiency solutions in three key sectors: industry, buildings, and transport.

Delegates visit the exhibition booths showcasing energy efficiency start-up solutions

Juhern Kim, country representative of the GGGI to Vietnam, highlighted, “Net zero depends not only on new technologies, but also on faster adoption. Through AIS4EE, we have seen a glimpse of what is possible when energy efficiency innovation is tested in real business environments. The opportunity ahead is to connect these solutions with capital and market pathways — from Vietnam to ASEAN, Europe, and beyond.”

A central pillar of the AIS4EE was the accelerator for energy efficiency innovation, a first of its kind in Vietnam. The programme supported selected start-ups and youth teams through technical guidance and mentoring, while participating start-ups received targeted investment-readiness support and engagement with domestic and regional investors. Following the programme, four cohort start-ups advanced their partnerships and investment opportunities, with more than €2.5 million ($2.9 million) mobilised — pointing to market interest in energy efficiency solutions with commercial and climate relevance.

The Startup Day showcase featured AIS4EE-supported solutions, including energy management, cooling efficiency, chiller plant optimisation, digital monitoring, and industrial energy performance, among others. The programme also recognised emerging collaboration among the participating start-ups, including partnership between VEEP and VOXCool with a view to further develop and apply energy efficiency solutions in the market.

Alongside the acceleration programme, the AIS4EE provided support on the wider enabling environment for energy efficiency start-ups. This included policy advisory to strengthen the enabling framework for innovation, training-of-trainers activities for university lecturers from across Vietnam, and practical knowledge resources for start-ups and ecosystem enablers.

Vietnam’s net-zero transition is opening new opportunities for technology, entrepreneurship, and investment to create economic value and contribute to green growth. Through AIS4EE, energy efficiency has served as a practical entry point for this wider agenda, demonstrating how public-private partnerships can connect innovation with market demand and real-economy impact.

What does a multi-domain innovation model look like in practice today, and how is Qualcomm evolving its R&D approach to support this?

Technologies such as AI, computing, connectivity, and silicon development are becoming increasingly interconnected. Advances in one area now directly shape performance and capabilities in another, making system-level integration far more important than in previous technology cycles.

This shift is fundamentally reshaping how global R&D organizations operate, including at Qualcomm. Our engineering teams are working across disciplines and geographies to develop technologies as part of integrated platforms rather than isolated components. The focus is no longer just on advancing individual technologies, but on how those technologies come together to deliver performance, power efficiency, scalability, and real-world usability across different industries and devices.

Within this model, Qualcomm’s teams in Vietnam contribute directly to core technology development while collaborating closely with engineering teams across Qualcomm’s global R&D network. Their role spans not only AI research, but also broader areas such as system integration and platform-level innovation across multiple technology domains. The expansion also reflects Qualcomm's long-term hiring focus in Vietnam: we are not building an AI-only team, but are actively expanding engineering capabilities across semiconductors, software, and system solutions. This breadth is intentional. Vietnam's engineering talent pool has matured significantly, and we see real depth across these disciplines — not just in software, but increasingly in hardware and silicon-level thinking.

What are the biggest barriers to scaling innovation from R&D into large-scale global deployment?

The greatest challenge today is no longer the invention of individual technologies, but the ability to optimise, validate, and scale them reliably in real-world environments. As technologies become more interconnected, maintaining consistent performance, quality, reliability, and energy efficiency across large-scale deployments also becomes significantly more complex.

That said, innovation is no longer driven by a single company or technology layer alone. Bringing new technologies to market increasingly requires coordination across the broader ecosystem - including suppliers, device manufacturers, operators, cloud providers, software developers, and industry partners.

From Qualcomm’s perspective, this is why platform-level engineering and long-term ecosystem collaboration have become increasingly important. The ability to scale technologies globally now depends not only on innovation itself, but also on how effectively that innovation can be deployed, adapted, and sustained across real-world environments.

Which sectors do you see as having the strongest potential, and how does Qualcomm plan to drive innovation across them?

At Qualcomm, we do not look at innovation through the lens of individual industries alone. Industries such as telecommunications, automotive, industrial IoT, and digital infrastructure are increasingly being shaped by the same underlying technologies like AI, connectivity, computing, and intelligent edge systems. Because of that, many of the core technologies we develop can be applied across multiple sectors at the same time. The difference usually comes later, at the product and deployment level, where solutions are adapted to the specific needs of a particular industry.

The Hanoi and Ho Chi Minh City teams are part of Qualcomm’s global R&D organisation and contribute to the development of core technologies that feed into our broader technology roadmap. For example, the team here has worked on AI use cases, and the technologies they developed have become part of our AI roadmap, which is then integrated into products we ship globally. The team also works closely with local partners such as Viettel and VNPT to gain a deeper understanding of local requirements and use cases, some of which may be unique to those partners or to the Vietnamese market. They then develop technologies and solutions to address those needs, and over time those contributions can become part of Qualcomm’s broader global technology roadmap.

So across many global markets that we operate, this is how innovation works. On one hand, we pursue innovation based on the technologies we want to develop. On the other hand, we also learn from customer feedback, which can sometimes reveal unique requirements or use cases. That feedback helps shape new solutions, which can eventually become part of the broader global roadmap.

How do you see Vietnam’s role evolving in the global technology value chain, and what role can Qualcomm play in this?

I think Vietnam is definitely moving in the right direction. With the government’s growing focus on areas such as AI, semiconductors, and advanced connectivity, we already see strong momentum in that direction. We are encouraged by the continued efforts to improve the policy environment for innovation, attract global technology investment, and enable more research and development activities in the country. Qualcomm sees growing opportunities for Vietnam not only as a market or manufacturing base, but increasingly as a contributor to global technology development through research, engineering, and localised innovation.

That is also why Qualcomm continues to expand our engineering presence in Vietnam across semiconductors, software, and system-level engineering, alongside AI research. These are not parallel tracks — they are deeply interconnected. Semiconductor work informs what is possible at the software and system level, while insights from AI research and real-world deployments feed back into how we architect silicon and platform solutions. By growing capabilities across all of these areas in Vietnam, we are enabling our teams here to participate in the full innovation cycle — from foundational research through to scalable, globally deployable technology.

From our perspective, this is where collaboration becomes especially important. Through partnerships with local technology companies, universities, startups, and the broader ecosystem, we see opportunities to help accelerate the development of engineering capability and connect Vietnamese innovation more closely with global technology platforms and markets.

Over time, we believe Vietnam has the potential to become not only a place where technology products are built, but also a place where globally relevant technologies and engineering capabilities are created and scaled.

The issuer is solely responsible for the content of this announcement.

The issuer is solely responsible for the content of this announcement.

The issuer is solely responsible for the content of this announcement.

Chow Kit Hui unveiled his strategically positioned AI fund, AlgoVision AI Growth Partners Foundation. Driven by computing power, capital, and application scenarios, it backs upstream tech breakthroughs and high-value downstream applications, bridging AI research with industrial use. From academic discourse to computing coordination, the summit revealed a new competitive landscape: core advantage now lies in integrating technology, data, scenarios, capital, and resources—not the capability of a single model. With data-driven rationality and risk control, Chow injected lasting long-termism into global AI deployment.

The issuer is solely responsible for the content of this announcement.

Official website: https://www.kithuiacademy.com/

The issuer is solely responsible for the content of this announcement.

Alibaba Cloud: https://www.alibabacloud.com

The issuer is solely responsible for the content of this announcement.

• Research and Innovation Centre, integrating the Library, STEAM and ICT to support inquiry, experimentation and interdisciplinary learning
• Dedicated Science Laboratories, designed for hands-on learning across Biology, Chemistry and Physics
• Cultural Learning Spaces, honouring Bhutanese History and Dzongkha as integral parts of the curriculum
• Multipurpose Sports Hall, supporting physical development, teamwork and wellbeing
• Dedicated Performing Arts Studio, enabling expression through music, drama and movement
• Reggio-inspired Ateliers, where children explore ideas through the hundred languages of expression, including light, sound, clay, mark-making and natural materials

The issuer is solely responsible for the content of this announcement.

1. Absolute Data Sovereignty & Local Processing: MonoClaw securely manages core contextual memory, session history, and sensitive credentials on the user's local device. To support high-performance workloads while respecting data privacy, the system utilizes a default secret redaction mechanism and an isolated local runtime profile. This architecture allows users to seamlessly leverage external cloud capabilities and filtered subprocess environments for risky host operations—such as web searches or specific cloud-model completions—while maintaining a secure, locally controlled baseline for sensitive data.
2. Zero-Subscription, Zero-Token Asset Investment: By utilizing premier local inference deployment options (such as Gemma 4 via LM Studio), Sentimento introduces a permanent "one-time software license" model. This fundamentally shifts a company's IT overhead from an endless operational expense (OPEX) into a controllable, high-value capital asset (CAPEX), eliminating the pricing unpredictability of cloud token billing.
3. Auditable Automation via "Human-in-the-Loop" Approval Gates: Automation does not mean losing control. MonoClaw places safety at its core by enforcing hard command boundaries and filtered subprocess environments for all risky host operations, data mutations, or external commands. Mona proactively pushes confirmation requests to the user via Telegram, WhatsApp, or email, executing tasks only upon explicit "one-click approval"—perfectly balancing autonomous efficiency with real-world risk management.

The issuer is solely responsible for the content of this announcement.

Our official website: https://www.sentimento.dev/
For more details about MonoClaw: https://www.monoclaw.app/en

The issuer is solely responsible for the content of this announcement.

This presents an opportunity for investors to access and evaluate investment in one of the petroleum potential blocks located in the Cuu Long Basin, offshore Vietnam.

• Key information

– Scope of Bidding: Block 17, Cuu Long Basin, offshore Vietnam

– Bid Registration: From 9am on June 1 to 4pm on June, 15 (during working hours)

– Data Review: From 9am on June 18 to 4pm on July, 31, 2026.

– Tender Dossier Issuance: From 9am on August 3, to 11am on August, 14, 2026 (during working hours)

– Deadline for Bid Submission: 3pm on September 16, 2026 (Hanoi time)

– Bidding Method: open tender

• Registration instructions:

Interested partners are kindly requested to submit an Expression of Interest (EOI) to the following address:

Vietnam National Industry - Energy Group (Petrovietnam)

Address: 18 Lang Ha, Giang Vo, Hanoi, Vietnam

Attn.: Vu Dao Minh, General Manager of Exploration & Production Division

Email: minhvd@pvn.vn

Tel: + 84 24 3825 2526 (ext 6717)

Fax:+ 84 24 3826 5942

Upon receipt of the EOI, Petrovietnam will provide the relevant documents and detailed guidance on the bidding participation process.

Petrovietnam Gas awards first multi‑year LNG deal to Shell PV Gas has signed its first multi‑year LNG supply contract, a five‑year agreement with Shell delivering about 400,000 tonnes per year to the Thi Vai terminal from 2027 through 2031.

EVN and PV GAS agree to supply LNG for Quang Trach power plants Vietnam Electricity (EVN) and Petrovietnam Gas (PV GAS) signed a framework agreement on the supply of liquefied natural gas (LNG) from the Vung Ang LNG terminal in Ha Tinh to the Quang Trach II and III power plants on April 3 in Hanoi.

Petrovietnam signs MoU with Vitol Asia to boost energy cooperation Vietnam National Industry - Energy Group (Petrovietnam) has signed an MoU with Vitol Asia Pte. Ltd. to cooperate in the energy sector and related areas, marking a strategically significant step for the Vietnamese state energy group.

The meeting took place on May 25, with the deputy minister welcoming Hayakawa Yuho, senior vice president of the Japan International Cooperation Agency (JICA), and his delegation during their working visit to the Ministry of Finance (MoF).

The deputy minister noted that cooperation between Vietnam and Japan has developed remarkably in recent years, particularly following high-level visits by leaders of both countries. Japan continues to be one of Vietnam’s leading economic partners, ranking first in official development assistance (ODA) provision and labour cooperation, third in investment, and fourth in trade and tourism.

During the 2025 fiscal year, Vietnam and Japan successfully signed three loan agreements worth nearly ¥90 billion ($570 million). The MoF expressed appreciation and thanked JICA for its close coordination in achieving these agreements.

On a visit to Vietnam by the Japanese Prime Minister Takaichi Sanae in early May, leaders of both countries agreed to deepen bilateral relations, elevating cooperation to a new level based on mutual interests and shared development goals.

Deputy Minister Phuong proposed that Hayakawa Yuho and JICA continue working closely with Vietnam’s MoF and relevant agencies to further advance ODA cooperation between the two countries. The MoF reaffirmed its commitment to supporting and closely coordinating the effective implementation of future cooperation projects and initiatives.

JICA senior vice president Hayakawa Yuho said he valued the discussion on future Japanese-funded projects, including strategic orientations and cooperation ideas built around four key pillars.

The first pillar focuses on developing high-quality workers in line with Resolutions 57-NQ/TW and 71-NQ/TW. Current initiatives include semiconductor engineering training activities at the Vietnam Japan University and high-tech courses at the University of Science and Technology of Hanoi. JICA is also preparing policy loans to support digital transformation and AI reforms, as well as projects aimed at strengthening satellite data analysis capabilities.

New ideas under consideration include using Japanese ODA loans to support study-abroad schemes in Japan focused on AI and semiconductors, or establishing advanced scientific research facilities in Vietnam.

The second pillar centres on developing supporting industries and strengthening supply chains. Vietnam and Japan are currently negotiating the O Mon 3 combined-cycle thermal power plant and support mechanisms for the Bac Ai pumped-storage hydropower plant, a technology that supports renewable energy development.

Japan could also support improvements to Vietnam’s power transmission systems and electricity grids to meet rising renewable energy demand through STEP Loans provided via commercial banks.

The third pillar focuses on institutional and policy development. JICA is currently implementing management training courses and scholarship schemes for young civil servants. Future ideas include using ODA to strengthen the capacity of local government officials, particularly following administrative restructuring, through a combination of study programmes in Japan and in-country training.

In addition, JICA expressed interest in supporting the development of a comprehensive startup ecosystem in Vietnam.

The fourth pillar concerns infrastructure development. Alongside ongoing projects, JICA is considering initiatives such as extending Metro Line No.1 in Ho Chi Minh City, supporting disaster resilience efforts in Central Vietnam, developing an urban railway system in Danang, and expanding Lach Huyen Port and surrounding airport infrastructure.

Deputy Minister Phuong thanked Hayakawa Yuho for sharing a range of valuable proposals and strategic cooperation ideas. He noted that all four pillars align closely with Vietnam’s socioeconomic development priorities and highly appreciated JICA’s research and planning efforts linked to key resolutions of the Communist Party of Vietnam.

Phuong proposed that JICA and the MoF formalise these four cooperation pillars as part of Vietnam’s strategic ODA mobilisation framework for the next five years. He also stressed the importance of close coordination among JICA, the MoF and relevant ministries and agencies to identify specific project portfolios for Vietnam’s 2026-2030 public investment plan.

Japan extends ¥50 billion loan for green transformation programme The Japan International Cooperation Agency (JICA) on March 30 signed a ¥50 billion loan agreement with Vietnam to provide official development assistance for its green transformation programme and climate change adaptation.

JICA and BIDV launch $50m sustainable financing for rural MSMEs Japan International Cooperation Agency and BIDV have announced a sustainable financing facility to support rural micro, small and medium-sized enterprises in Vietnam.

JICA and Vietnam sign ODA loan agreements for climate-resilient infrastructure development The Japan International Cooperation Agency on May 7 announced that it had signed a loan agreement with Vietnam to provide Japanese official development assistance loan for the two projects developing small-scale infrastructure in northern and mountainous regions.

The announcement was made on May 25. The businesses were selected for their potential to deliver meaningful climate impact while contributing to economic growth, job creation, and social inclusivity. They span sectors including clean energy and energy transition, e-mobility, waste management and circular economy, building and construction, and agriculture, forestry, and other land use (AFOLU).

From 2022 to 2024, Climate Finance Accelerator (CFA) Vietnam has supported 21 climate-focused businesses in accessing finance from investors. This year, the selected businesses represent a diverse range of sectors, each offering economically viable low-carbon solutions that also have the potential to create jobs in Vietnam.

Through the initiative, participating businesses will receive tailored technical support aimed at strengthening investment readiness and improving access to finance. PwC Vietnam, CFA Vietnam’s implementing partner, will provide strategic support through capacity building workshops and one-on-one guidance from financial, technical, and gender equality, disability and social inclusion experts, increasing their chances of securing funding.

In the clean energy and energy transition sector, selected companies include Phuc Sang Minh Gas and Alternō. The e-mobility sector features Viet Smart Mobility and Stavian Energy Technology, while circular economy and waste solutions companies include New Bioway Organic, BioWraps, and ARC-V. In sustainable agriculture and land use, selected companies include SATY, LAB2LIFE, VietRAP, Tay Bac Safe Food Agricultural, and Bamboo King Vina. Meanwhile, Zenwood operates in the sustainable construction materials sector.

Iain Frew, British Ambassador to Vietnam, said, “The new CFA cohort showcases how Vietnamese businesses are developing frontier climate solutions. From clean energy to circular economy and sustainable agroforestry, these innovators are not just tackling emissions reductions – they are contributing to a diversified economy that creates green jobs and builds the infrastructure required for an inclusive Just Energy Transition.”

Abhinav Goyal, director of Capital Projects and Infrastructure at PwC Vietnam, shared, "We are pleased to congratulate the 13 shortlisted projects selected for this phase of the CFA Vietnam Programme, representing approximately $352 million in total value. Emerging from 81 applications, this cohort reflects a strong and increasingly diverse pipeline of climate finance opportunities in Vietnam across clean energy, e-mobility, circular economy, green buildings, and AFOLU sectors."

"From a climate finance perspective, Vietnam is at an important inflexion point," Goyal said. "The country's net-zero commitment, evolving regulations, and growing demand for low-carbon infrastructure are creating stronger momentum for climate-aligned investment. At the same time, many projects still need support to strengthen financial structuring, viability, and investor readiness. Through CFA Vietnam, PwC is proud to continue helping project developers turn climate mitigation potential into investable propositions that can attract the right mix of capital."

Following the support phase, the businesses will engage directly with investors and financial institutions at a match-making event in October. This will allow project developers to further refine their financial structuring through personalised discussions with interested financial institutions. The event will also provide an opportunity for participants to network and for policymakers and others involved in the climate finance space to learn from the insights and recommendations of the CFA landscape mapping.

Eleven projects selected for Climate Finance Accelerator Vietnam unveiled On January 23, eleven exciting projects to help tackle climate change in Vietnam have been selected as the second cohort of Climate Finance Accelerator (CFA) Vietnam.

Attaining climate justice with climate finance goals The significant global changes are leading to three planetary crises – climate change, biodiversity loss, and environmental pollution. Therefore, climate finance, when invested sufficiently and appropriately, is the pathway to climate justice.

Climate Finance Accelerator Vietnam begins search for projects seeking investment The UK-funded Climate Finance Accelerator (CFA) Vietnam has launched a new call for proposals for low-carbon businesses looking for investment.

Workshop calls for natural capital to anchor Vietnam’s economic policy As Vietnam seeks to align economic growth with environmental sustainability, policymakers and financial leaders are stepping up efforts to embed natural capital into macroeconomic planning.

The agreement was signed on May 25. French Ambassador to Vietnam Olivier Brochet said, “This marks the first climate credit facility provided by the French Development Agency (AFD) to Agribank without a government guarantee. Beyond finance, the partnership marks a new development in the France and Vietnam cooperation in the sustainable finance and green transition field. We hope this will open up more ambitious collaboration between the two countries in the fields of green finance, climate, and energy transition.”

To Huy Vu, chairman of the Members' Council at Agribank, said, “Green growth and sustainable development have become the overarching direction for Vietnam in its next phase of development. Against the backdrop, green credit and green finance have been identified as the important tools to realise the country’s climate commitments.”

He added, “As a state-owned commercial bank playing a leading role in agriculture and rural development, Agribank is fully aware of its role as a bridge connecting international capital from development partners like AFD to farmers, businesses and green production models. Agribank is committed to managing and utilising the funding effectively, transparently, and in line with its intended purposes. Priority is given to renewable energy, smart and clean agriculture, low-emission production models, and climate adaptation initiatives.”

Julien Seillan, AFD country director in Vietnam, said, “Through this credit facility, AFD reaffirms its commitment to accompanying Vietnam’s major financial institutions during the transition towards a more sustainable, resilient financial system in line with Vietnam's climate goals.”

The partnership between Agribank and AFD is significant to both the economy and the bank's development strategy.

For the economy, climate credit facility contributes to diversifying the financial resources for ventures aimed at reducing greenhouse gas emissions and enhancing resilience to climate change, particularly in key sectors such as agriculture and rural development.

For Agribank, it is the first time the bank successfully gains access to direct medium- and long-term loans from foreign sources without government guarantee. This serves as a testament to Agribank’s financial capabilities and reputation in the international market. It paves the way for the bank to be more proactive in its capital structure, gradually asserting its leading role in Vietnam’s green finance landscape.

Through the tie-up with AFD, Agribank continues to advance its sustainable development strategy while expanding access to international resources for green growth. The bank also reaffirms its commitment to accompanying the government, businesses, and communities in the journey towards green transition, climate adaptation, and the development of a modern agricultural sector in Vietnam.

Agribank’s low-emission capital drive Agribank has emerged as a leading pioneer in large-scale green financing that supports clean production and agricultural modernisation, at a time when Vietnam’s accelerated green-transition goals are driving surging demand for sustainable-agriculture capital despite major constraints in green credit, from regulatory gaps to limited environmental, social, and governance capacity.

EU and AFD help North-central Vietnam strengthen resilience to climate threats On May 15, the "Climate Resilient Urban Infrastructure in North-central Vietnam" project concluded its Technical Assistance phase, marking a shift from planning to lasting community empowerment.

EU and France provide $78.5 million for Quang Nam and Quang Tri to tackle climate change The central provinces of Quang Nam and Quang Tri will receive financial support worth €72.3 million ($78.5 million) from the EU and France to tackle the impacts of climate change.

Mobile World Group (MWG), DMX’s parent company, represents the sole major shareholder with a 99 per cent stake, while the foreign ownership limit currently stands at 49 per cent.

The subscription timeline for the IPO will extend between May 27 and June 17, with official listing on the Ho Chi Minh City Stock Exchange commencing at a later date.

According to the company prospectus released on May 22, DMX is currently in a transition phase, shifting away from store-expansion-led growth to focus on operational efficiency and cash flow sustainability.

This quality-driven turnaround, which began in 2023, has already yielded substantial results, triggering a 3.2-fold recovery in 2025 net profit to approximately $232 million following the strategic closure of 412 underperforming outlets.

DMX now commands a dominant 60 per cent market share in mobile phones and a 40 per cent market share in consumer electronics across the nation.

At the first-quarter earnings call in late April, MWG management described DMX as the cash cow of the group, contributing up to 80 per cent of total consolidated revenue, while grocery retail chain Bach Hoa Xanh will serve as the next primary growth engine.

“DMX’s business model is complete, without much further capital expenditure, so the company is committed to paying cash dividends of at least 50 per cent of annual after-tax profits onwards,” the company’s management remarked at the call.

After restructuring its operations between 2023 and 2025, DMX has organised its business into five main areas. These include its core electronics retail chains (TGDD, DMX, and TopZone); consumer finance and utility services; after-sales repair and maintenance services under DMX Technician; its e-commerce platform SuperApp; and international expansion through the EraBlue joint venture in Indonesia.

The consumer finance division carries zero credit risk for DMX, operating entirely on a commission fee basis, with penetration rate reaching 35 per cent of total retail revenue in 2025.

Meanwhile, DMX Technician has evolved into the country’s largest technical service ecosystem, deploying 8,000 employees, 4,100 specialised technicians, 700 trucks, and 300 warehouses while securing lucrative B2B contracts with V-Green charging stations and Bach Hoa Xanh outlets.

For long-term growth, DMX is targeting Indonesia's underpenetrated information and communications technology and consumer electronics (ICT/CE) market through EraBlue. Operating on the island of Java, which has a population of 150 million and lacks a modern retail presence, EraBlue's smaller store model has proven highly efficient. It generates double the average revenue of similar domestic DMX formats with a short 16-month store payback period.

DMX revenue mix for 4M2026. Source: DMX

According to Vietcap Securities, Vietnam still remains the fastest-growing ICT/CE market in Southeast Asia, with the total market size projected to hit $15 billion by 2030 at a compound annual growth rate of over 8 per cent.

However, as penetration rates of key product categories approach the regional average of 90 per cent, consumer demands are shifting from first-time purchases to upgrade cycles, driven by a recent new wave of AI-integrated products.

Vietcap analysts saw DMX’s pivot towards advanced after-sales, digital ecosystems, and consumer financing mirrors this industry transition towards quality-centric value creation.

Reflecting this strategy, the company’s business results for the first four months of 2026 demonstrated robust momentum across all five pillars. Total revenue reached $1.74 billion, successfully completing 35 per cent of its full-year guidance of $4.9 billion. This performance represents a 32 per cent increase on-year, underpinned by a strong same-store sales growth rate of 33 per cent.

In the core retail segment, revenue expansion was broad-based across all brands despite no new store openings. TGDD and DMX chains recorded revenue growth of 33 per cent and 30 per cent, respectively. TopZone, Apple’s authorised retail chain, delivered a 39 per cent revenue increase, propelled by a 60 per cent surge in Apple product sales.

Internationally, the EraBlue joint venture in Indonesia posted a 94 per cent revenue jump on 20 per cent same-store sales growth, expanding its network by 123 stores on-year to reach 222 locations.

DMX’s service and digital ecosystems also displayed significant acceleration. Consumer finance services revenue surged 48 per cent on-year, accounting for 38 per cent of total company revenue and achieving a 96 per cent financing eligibility rate across products.

Concurrently, the gross merchandise value of utility payments and agent banking services rose 9 per cent on-year to $1.48 billion.

In the after-sales services segment, DMX Technician generated $50.08 million in revenue, a 60 per cent surge, with external client revenue rising 45 per cent to $6.12 million to make up 12 per cent of the segment’s total.

Dien May Xanh plans IPO in 2026 Electronics retail chain Dien May Xanh, under Mobile World Investment Corp, plans an initial public offering by selling 180 million shares, or a 16 per cent stake.

Indonesia-Vietnam retail chain EraBlue targets $790 million by 2030 EraBlue, an Indonesian consumer electronics retail chain joint venture between Vietnam's Dien May Xanh and Indonesia's PT Erajaya Swasembada, is targeting annual revenue of $790 million by 2030.

Dien May Xanh posts over $40,000 profit per hour in Q1 Dien May Xanh, Vietnam’s leading consumer electronics and home appliance retailer, recorded average profits of more than $40,000 per hour in the first quarter, as it accelerates ecosystem expansion ahead of a planned IPO this year.

The move is expected to create a new driving growth for the locality – a gateway connecting Ho Chi Minh City and Cambodia.

Industrial infrastructure tops the list with 83 ventures. Tay Ninh is calling for investments for some large-scale industrial parks, including Thanh Loi 1 Industrial Park, Thanh Duc 1 Industrial Park, Cau Khoi Industrial Park Phase 1, and Tan Long 1 Industrial Park, each spanning 500 hectares; Duc Hue 2 Industrial Park covering 450 ha; and the expanded Thanh Thanh Cong Industrial Park with a scale of 479 ha.

Moc Bai Border Gate Economic Zone is Tay Ninh’s key growth engine, with a slew of large-scale industrial–urban–service projects. They include Project 4-1 covering 360 ha, Project 4-2 spanning 454 ha, and Project 4-3 with an area of 206 ha. These ventures are expected to form an integrated ecosystem of industry, urban development and services in the international trade gateway area.

Another key focus area is the urban development and housing field, with 49 ventures. Notably, Long Huu New Urban Area covers more than 2,610 ha, Phuoc Lai New Urban Area spans 709 ha, and Luong Hoa Dynamic Urban Area has an area of 505 ha. This is coupled with multiple urban and residential initiatives in industrial and logistics development zones.

There are also 27 priority ventures in transport and logistics infrastructure. Key developments include the 150-ha Moc Bai Logistics Centre, the 260-ha Saigon Riverside Logistics Centre, and a 130-ha goods consolidation and distribution hub in Vam Co commune. The province also plans to develop an inland waterway port system to support cargo transportation and improve connectivity between industrial parks.

In the energy sector, Tay Ninh has listed 12 renewable energy initiatives, including solar, wind, and biomass power in its investment portfolio. Key projects include the 150-ha Solar Park 9 and Solar Park 10 projects in Duc Hue, alongside the Chau Thanh Wind Power Plant and the Long An Biomass Power Plant.

Furthermore, the province continues to promote the development of tourism, culture, and sports with six key initiatives. Some notable ventures include 460-ha Tan Tay Apricot Village Eco-tourism Area, a 1,200-ha medicinal herb cultivation project under forest canopies combined with ecotourism and medical services in Hoa Hoi Commune, and a theme park along the mountain road route within Ba Den Mountain National Tourist Area.

The list also covers five commercial and service initiatives, three environmental projects and two healthcare ventures.

According to Tay Ninh People’s Committee, the release of the priority list is intended to strengthen investment promotion efforts, provide businesses with easier access to information and research opportunities, and develop a database to support investment attraction in the 2026–2030 period.

Coca-Cola Beverages Vietnam to support sustainable rice farming in Tay Ninh Coca-Cola Beverages Vietnam, in partnership with agri-tech company Rize Vietnam and global innovation studio Ben & Archie, has launched a new sustainable rice farming project in Ben Luc commune in Tay Ninh province.

Swiss Asia Partner SA joins Prodezi on $100 million Be Milk plant Swiss Asia Partner SA, an international investment and financial advisory group headquartered in Lausanne on April 9 held a signing ceremony for a land reservation agreement with Prodezi Long An JSC (Prodezi) to develop a Be Milk dairy manufacturing factory with investment capital of $100 million in Tay Ninh province.

Hoa Phat launches steel pipe manufacturing facility in Tay Ninh On April 18, Hoa Phat Group held the inauguration ceremony for its Hoa Phat Long An Steel Pipe Plant in Tay Ninh, marking a new step in the group’s strategy to expand market share.

In May, the government issued three new resolutions aimed at reducing and amending conditional business sectors, decentralising authority, and simplifying administrative procedures and business conditions under a special mechanism designed to address legal delays pursuant to National Assembly Resolution No.206/2025/QH15.

In less than one month, the government has issued 11 resolutions abolishing 56 conditional business sectors and amending regulations for another 14 sectors. Together with ministerial circulars, these measures have decentralised 321 administrative procedures from central to local authorities, cut 697 procedures and 1,754 business conditions, simplified another 704 procedures and reduced compliance costs by approximately 54.6 per cent.

The core targets set out in Conclusion No.18-KL/TW of the Central Committee of the Communist Party of Vietnam have been largely achieved.

The time required to carry out administrative procedures has been reduced by 53 per cent, and administrative compliance costs by 54.6 per cent compared to 2024. Eleven resolutions recently issued by the government alone may save approximately $900 million annually.

In addition, the government and the prime minister are resolutely directing ministries and ministerial-level agencies to continue decentralising, reducing, and simplifying administrative procedures and business registration through amendments to decrees and circulars.

Vietnam is now entering a new phase of competition in foreign direct investment (FDI) attraction, centred on reform. Many foreign investors have already begun to notice these changes, bringing the country closer to attracting higher-quality and higher-tech investment flows in the coming years.

“Investment licensing procedures are being shortened from 30 days to 7–15 days. In some high-tech sectors, investment licensing requirements are even waived, while investors can benefit from preferential tax policies, including the ‘four-year exemption and nine-year reduction’ incentive scheme. This provides a strong foundation for attracting semiconductor, electronics and high-tech industries to Vietnam,” said Nguyen Phuong Nga, deputy CEO of CNCTech Group in Thang Long Industrial Zone, Phu Tho province.

Several “green lane” mechanisms have been activated to shorten processing times and facilitate new projects. In particular, Phu Tho Province has reorganised its administrative procedures under a more interconnected model, enabling closer coordination among departments while reducing unnecessary steps. Priority applications are classified and monitored separately to minimise delays and improve coordination among authorities.

Among these initiatives, the “24-hour green lane” has been introduced for selected investment and labour-related procedures. Applications that meet all required conditions can now be received, processed and returned within 24 hours, instead of several days as before.

Procedures eligible for expedited handling include adjustments to investment projects in certain cases; re-issuance, replacement or correction of Investment Registration Certificates; as well as the re-issuance and extension of work permits for foreign employees in Vietnam.

Efforts to streamline procedures and support business investment and production have delivered tangible results, helping companies save both time and costs.

“When we bring foreign investors to Bac Ninh, the province can immediately provide information on available industrial land, pricing and even arrange on-site visits right away. In some cases, responses are delivered within just one day,” said Ben Ding Khoon Yew, CEO of Soilbuild International Group, the developer of two ready-built factories and warehouses in Bac Ninh province.

Vietnam’s traditional advantage of low-cost labour is steadily eroding. Investors are now looking beyond tax incentives, placing greater weight on infrastructure quality, skilled labour availability, logistics capacity, power reliability and the stability of the legal framework.

“The competition for FDI is no longer about low costs, but the quality of the investment environment,” said British Chamber of Commerce Vietnam chairman Denzel Eades. He said Vietnam must strengthen its competitiveness by improving transparency, consistency and predictability in policymaking, while ensuring more effective law enforcement.

Concerns also persist over the effectiveness and implementation of administrative procedures related to investment and business activities. At a mid-May meeting in Hanoi between the Central Commission for Policy and Strategy, ministries, agencies and foreign business associations, overseas investors raised a number of recommendations.

While investors acknowledged improvements in the issuance of Investment Registration Certificates and Enterprise Registration Certificates, they said so-called “sub-licences” remain a major delay. Inconsistent implementation across localities also continues to raise costs and risks, with provinces often applying regulations differently.

Seck Yee Chung, vice chairman of the Singapore Business Association in Vietnam, said that business licensing procedures still take considerable time, particularly for foreign-invested enterprises. “This is an issue that the business community has repeatedly raised and hopes the authorities will soon address and resolve in the coming period.”

Bruno Jaspaert, chairman of the European Chamber of Commerce in Vietnam, suggested that during the revision of the Land Law, Vietnam could consider extending land lease terms to 90 years or longer, instead of the current common duration of 50 years.

According to him, longer land lease periods would give investors greater confidence in developing long-term strategies, particularly for projects with lengthy investment cycles and extended capital recovery periods, thereby enhancing the attractiveness of Vietnam’s investment environment.

“Many companies signed 50-year land lease agreements years ago, but as those terms approach expiration, the lack of clarity surrounding renewal conditions is creating difficulties for long-term investment planning,” he said. “Without certainty about future conditions, businesses will hesitate to upgrade or expand their projects. This is an issue Vietnam should address soon with clearer policy direction.”

Over the past decade, FDI has become one of the key pillars of Vietnam’s economy. From an economy once heavily reliant on public investment and state-owned enterprises, Vietnam is increasingly depending on the private sector and international capital.

Total social investment during 2021-2025 reached approximately $666 billion. Of this, the state sector accounted for only 27 per cent, while as much as 73 per cent came from domestic private businesses, foreign-invested enterprises and other non-state sources.

FDI has remained one of the strongest contributors to economic growth. During the same period, realised FDI capital increased by around 1.5 times, from $114 billion to approximately $165 billion, now accounting for roughly 16 per cent of total social investment.

According to the Ministry of Finance, Vietnam’s cumulative registered FDI has now reached around $184 billion, of which approximately $158 billion has been disbursed, equivalent to about 85 per cent of total committed capital. This relatively high disbursement ratio, compared with many regional peers, reflects Vietnam’s improving capacity to absorb investment capital.

Ho Chi Minh City introduces special procedures for industrial zone investment projects Ho Chi Minh City Export Processing Zones and Industrial Parks Management Authority will apply special investment procedures to special investment projects.

Vietnam moves to repeal inter-agency scrap import regulation Vietnam’s Ministry of Finance is proposing to repeal a key inter-agency scrap import regulation as environmental rules mature, and the government pushes to simplify overlapping administrative procedures.

Tax circular amendments aim to ease import-export procedures The Ministry of Finance is accelerating reforms to modernise import-export tax administration, expand digitalisation, and create a more transparent regulatory framework.

Ho Chi Minh City Department of Construction has granted a licence to the Guangzhou Metro Design & Research Institute (GMDI) – ARUP Vietnam – TEDI SOUTH consortium to carry out the feasibility study for Metro Line 4. The 47km route will begin at Dong Thanh Depot and end at Hiep Phuoc Station.

Under the licence, the consortium will undertake the feasibility study package in line with the contractor selection results announced by Sovico Group.

GMDI is a Chinese company headquartered in Guangzhou. GMDI previously engaged in the design of Guangzhou’s metro system in China and collaborated with TEDI SOUTH on the design of Metro Line 2 sections Ben Thanh-Tham Luong and Ben Thanh-Thu Thiem.

GMDI’s main operations include metro network planning, pre-feasibility and feasibility studies, technical design, engineering, procurement, and construction (EPC) contracting, system integration, and urban railway operation consultancy.

TEDI SOUTH, a member of the Transport Engineering Design Incorporated (TEDI), is a familiar name in transport infrastructure design consultancy. The company has engaged in major projects such as the North–South high-speed railway, the Ben Thanh – Suoi Tien metro line, Ben Thanh – Tham Luong metro line, Ben Thanh – Thu Thiem metro line, the extension of Metro Line 1 to Tran Bien Ward, Long Thanh International Airport.

ARUP Vietnam is a member of the UK-based ARUP Group, a global engineering consultancy brand with nearly 80 years of experience. The company has recently participated in research and proposals for Ho Chi Minh City’s urban railway network planning.

Under the city’s master plan, Metro Line 4 is one of Ho Chi Minh City’s key urban railway routes, serving as a key link connecting the northern area with the city centre and the southern area.

The proposed route will pass through major transport corridors and key areas including Ha Huy Giap, Nguyen Oanh, Nguyen Kiem, Tan Son Nhat International Airport, Ben Thanh, and Nguyen Huu Tho before ending in Hiep Phuoc Commune.

The line is designed to include 37 stations, including both underground and elevated sections. The total investment is estimated at VND157.4 trillion ($5.9 billion). The venture will be a public-private partnership.

Ho Chi Minh City to finance Metro Line 4 with public-private partnership Ho Chi Minh City is considering a proposal from Sovico Group to invest in Metro Line 4 using a build-transfer contract with payment via land funds combined with Transit-Oriented Development.

Visa and Ho Chi Minh City Metro Line 1 usher in seamless commuting On March 10, Visa announced its official co-sponsorship of the inauguration ceremony for Ho Chi Minh City Metro Line 1 (Ben Thanh – Suoi Tien), marking a pivotal step towards modernising public transport and enhancing the daily commute for millions of residents.

Delivering urban railways and transit-oriented development Vietnam’s efforts to expand urban rail and sustainable city development have increased attention on transit-oriented development and digital delivery tools. Giang My Huong, director of Capital Projects and Infrastructure at PwC Vietnam, shared with VIR’s Khanh Linh how PwC is supporting climate-resilient urban transport delivery.

The stakeholders are Enterprise Singapore (EnterpriseSG), Indonesia’s Ministry of Communication and Digital Affairs (Komdigi), the Vietnam National Innovation Centre (NIC), and the Startup and Innovation Hub of Ho Chi Minh City (SIHUB),

Google for Startups Accelerator: Southeast Asia is a new cross-border initiative that empowers founders to develop and commercialise proprietary agentic AI products. By offering integrated engineering and go-to-market partnerships with Google Cloud, it creates a pathway for Southeast Asia-based AI startups to scale internationally.

The initiative was launched during Google for Startups Sprint, a one-day event at Google’s Asia-Pacific headquarters that connects startups with Singapore-based investors and government leaders. The event showcased AI startups from the Google for Startups alumni network–a community of thousands of founders across 85 countries who have benefited from Google for Startups Accelerator programmes.

Since 2018, such accelerators have helped more than 200 early-stage startups in Southeast Asia build new products, raise $6.6 billion in funding, and create 11,300 jobs. They have facilitated scaled customer acquisition or new market entry for startups.

Sami Kizilbash, head of Developer Ecosystems, Asia-Pacific, Google Cloud, said, “Building on this success, Google for Startups Accelerator: Southeast Asia aims to serve Seed to Series B AI startups across industries and six countries, with EnterpriseSG, Komdigi, and NIC and SIHUB providing additional tailored support for startups from Singapore, Indonesia, and Vietnam, respectively.”

Ben King, managing director of Google Singapore, said, “AI startups have told us that the jump from product-market fit to international expansion is their hardest leap. Google for Startups Accelerator: Southeast Asia, which is part of Google’s ‘Majulah AI’ initiative, is designed to bridge this exact gap."

"By connecting founders and developers with best-in-class resources and global tech hubs through the innovation corridor, we’re providing them with a clear runway to commercialise frontier AI at scale. Our collaboration with EnterpriseSG also advances the global growth ambitions of local ventures aligned with Singapore’s AI Missions. Together, we’re supporting entrepreneurs at every stage of their innovation journey, cementing Singapore’s position as a trusted node for proven solutions that drive meaningful societal and economic impact.”

The programme features an immersive, in-person California residency, where founders undergo technical deep-dives at leading technology hubs–including Google’s Mountain View and San Francisco campuses–and engage directly with venture capital clusters along Sand Hill Road and Palo Alto. This immersion enables them to stress-test and optimise their products against global benchmarks while cultivating the peer-level collaborations and institutional ties crucial for international scale.

Vu Quoc Huy, director of NIC, said the “AI for the Future” initiative by NIC and Google had already supported more than 500 Vietnamese startups, helping connect local firms with partners in Singapore and Silicon Valley.

“Building on this momentum, Google for Startups Accelerator: Southeast Asia serves as a bridge between cutting-edge tech startups in our priority sectors and partners in Singapore and Silicon Valley. By facilitating collaboration in advanced fields like agentic AI and embodied AI, we’re helping to transform research breakthroughs into the next wave of enterprise and industrial solutions, boosting Vietnam’s national competitiveness and driving market productivity gains,” Huy said.

Meanwhile, Dang Thi Luan, director of SIHUB, said the partnership with Google Cloud would help accelerate the commercialisation of Vietnamese AI startups while creating stronger international connections for the country’s innovation ecosystem.

“As the nucleus of Ho Chi Minh City’s innovation ecosystem–now ranked among the world’s top 100–SIHUB is committed to fast-tracking the transition from technical proof-of-concept to commercial success. Our collaboration with Google Cloud creates a two-way corridor: a conduit for high-potential Vietnamese AI startups to scale internationally, and a trusted gateway for their regional peers to enter our vibrant market,” Luan said.

TVS invests $4 million in Dat Bike On March 5, Thien Viet Securities JSC announced a $4 million investment in Dat Bike, a Vietnamese electric motorbike manufacturer.

Ho Chi Minh City moves to establish venture capital fund for startups A venture capital fund is being established in Ho Chi Minh City to attract more investment for the local innovative startup ecosystem.

Lotte Ventures Vietnam launches L-CAMP Vietnam 2026 On May 25, Lotte Ventures Vietnam launched L-CAMP Vietnam 2026, an open innovation programme designed to identify and support high-potential startups in Vietnam through pilot collaboration opportunities with the Lotte ecosystem in Vietnam.

At the media briefing on APAC Wind Energy Summit 2026, which took place at VIR's headquarters on May 26, experts from across the wind power value chain highlighted Vietnam’s growing competitiveness in both onshore and offshore wind (OSW) development, while stressing the importance of stable policies and long-term project visibility.

Bui Vinh Thang, country manager of GWEC (Global Wind Energy Council) said that Vietnam could become a regional leader in wind power outside of China and India if it achieves the targets outlined in the national Power Development Plan VIII (PDP8). Under PDP8, Vietnam aims to develop around 26-38 GW of onshore wind power and approximately 6 GW of OSW power by 2030.

“Looking across Asia-Pacific, excluding China and India, Vietnam can be considered a leading country in both onshore and OSW,” he said.

He noted that Vietnam possesses OSW potential estimated at roughly 600 GW, with relatively shallow continental shelves allowing for fixed-bottom OSW projects, which are generally cheaper than floating wind farms required in markets such as South Korea, Japan, and Taiwan.

“The majority of Vietnam’s OSW potential is suitable for fixed-bottom foundations, helping lower investment costs compared to countries that rely on floating platforms,” he added and stressed that Vietnam’s double-digit electricity demand growth makes wind power increasingly important within the country’s future energy mix.

Alessandro Antonioli, country representative in Vietnam, Copenhagen Infrastructure Partners (CIP), said Vietnam stands out in the region because of its high wind speeds, stable wind conditions and long coastline. “I am a big fan of Vietnam,” Antonioli said, noting that he had previously worked in Japan, Taiwan and Australia before taking up his current role in Vietnam.

He added that Vietnam’s growing economy and manufacturing expansion are creating rising demand for stable, affordable and sustainable electricity.

“The shift of manufacturing supply chains from Europe and the US to Vietnam requires access to green energy,” he said. “This is both a challenge and an opportunity if the country can maintain supportive policies, a clear commercial framework and stronger local supply chains.”

Antonioli also pointed to the country’s existing offshore oil and gas industry as a major advantage for OSW development. “We already have excellent companies here with decades of offshore oil and gas experience. That is an incredible advantage,” he said.

Ngo Tien Dat, country manager, Suzlon Group - a global renewable energy solutions provider, said Vietnam’s fast-growing economy and young workforce were among the reasons why India-based Suzlon Energy chose Vietnam as its first regional hub in Southeast Asia.

“Suzlon sees Vietnam as a highly promising market in the APAC region,” Dat said. “Vietnam has a young, dynamic and capable workforce. That is why we selected Vietnam as our first hub to serve Southeast Asia and neighbouring countries.”

He added that the company hopes to work with local partners to further develop Vietnam’s wind energy sector and contribute to the country’s economic growth.

Meanwhile, Nguyen Ngoc Tu, director of Business and Project Development, IPC Engineering & Construction JSC (IPC E&C), said Vietnam already possesses many of the conditions necessary to accelerate renewable energy development. IPC E&C has participated in the installation of more than 2,000 MW of wind and solar power projects in Vietnam and overseas markets such as the Philippines.

“Electricity infrastructure must stay ahead of GDP and population growth,” Tu said. “The global green transition is inevitable, and Vietnam is moving in the right direction.”

For domestic companies, strengthening competitiveness in the OSW supply chain will require greater investment, coordination and policy support, according to Nguyen Tuan, Head Commercial, Petrovietnam Technical Services Corporation (PTSC). He said Vietnamese firms such as PTSC and IPC E&C are already participating in the global OSW supply chain through projects serving customers in Europe and Taiwan.

“When PTSC manufactures OSW foundations for European or Taiwanese clients, we do not work alone,” he said. “We bring along nearly 100 Vietnamese companies to participate in the supply chain.”

He stressed that local companies must continue investing in infrastructure, equipment, marketing and customer services to improve efficiency and reduce costs.

At the same time, he called for stronger government support mechanisms and, most importantly, a stable long-term project pipeline. “The most important thing is a stable pipeline,” Tuan said. “If the government can provide a predictable annual development plan in terms of megawatts, companies will have the confidence to make large-scale investments.”

As part of its longer-term strategy, PTSC is pursuing both OSW project investment and renewable energy supply chain development. The company is currently involved in plans to export OSW electricity from Vietnam to Singapore through a cross-border power project.

At the same time, PTSC is expanding fabrication yards in Vung Tau and investing in specialised vessels and heavy-lifting equipment to support OSW construction.

Tuan also revealed that PTSC is working with government agencies to encourage the establishment of inter-regional renewable energy industrial and service centres under PDP8, including hubs in northern and southern Vietnam. “These centres will not only support renewable energy, but also green hydrogen and green ammonia in the future,” he said.

On May 26, the Global Wind Energy Council (GWEC), in coordination with the Finance and Investment Newspaper, held a press conference to announce the summit.

The summit will feature two days of conferences and exhibitions, alongside dedicated networking activities and side events aimed at fostering business connections.

It is being deemed an opportunity to strengthen cooperation between domestic and international businesses, promote the development of green energy industries, and contribute to the goal of achieving net-zero emissions by 2050.

Discussions at the summit will provide practical perspectives and valuable insights for businesses, investors and readers, while further highlighting the importance of the wind power sector to Vietnam’s economic development.

Bui Vinh Thang, GWEC’s country manager for Vietnam

Bui Vinh Thang, GWEC’s country manager for Vietnam, described the event as one of the region’s most significant wind energy forums, bringing together policymakers, financial institutions, energy corporations and international technology companies.

“The event is expected to attract more than 600 international and regional delegates, with activities including high-level sessions, technology exhibitions, business matching and policy dialogues,” Thang said.

As Vietnam’s electricity demand continues to rise sharply in support of socioeconomic development goals, wind power will play an increasingly important role in the country’s national energy strategy.

Hosting the summit in Hanoi also sends a positive signal to the international investment community that Vietnam is a highly promising market for renewable energy development, particularly in onshore and offshore wind power, Thang added.

Through the event, organisers hope to strengthen Vietnam’s connections with global capital flows, technologies and supply chains, while opening up new cooperation opportunities in project development, equipment manufacturing, logistics, port infrastructure and wind power operations.

Thang stressed that the summit is a long-term cooperation platform aimed at advancing the wind power industry and green industrial development in Vietnam and across the Asia-Pacific region.

From high-level dialogues on finance, energy security, energy storage and electricity demand from the business sector, to in-depth technical sessions on floating offshore wind, grid integration, digitalisation and supply chain industrialisation, the summit will comprehensively reflect the key issues surrounding wind power development and the sector’s growth potential across the region.

Gia Lai tightens control of wind power project transfers Gia Lai People’s Committee has approved two large-scale wind power projects while imposing strict restrictions on project transfers in the renewable energy sector.

Pacifico Energy obtains survey licence for offshore wind venture Pacifico Energy on April 14 announced that the company is expanding its energy infrastructure footprint in Vietnam with a site survey licence for a 500MW offshore wind project.

Hanoi to host APAC’s premier wind energy event Media briefing on APAC Wind Energy Summit 2026 will take place at VIR's headquarters on May 26, highlighting the growing role of wind energy in powering economic growth and industrial transformation.

Surachai Nimla-or, Chairman of TCMA, stated that the collaboration reflects the proactive role of the industrial sector in advancing the country's climate commitments through a Public–Private Partnership (PPP) model. The initiative brings together industry, academia, government, and international partners, including Environment and Climate Change Canada (ECCC), the United Nations Industrial Development Organization (UNIDO), and the Global Cement and Concrete Association (GCCA), to accelerate the transition toward a low-carbon cement industry in line with the Thailand 2050 Net Zero Cement and Concrete Roadmap.

"This collaboration with Chulalongkorn University elevates our efforts into a long-term platform, from knowledge development and workforce readiness to pilot-scale technology deployment. It will be strengthened by Canadian expertise and real-world testing in the SARABURI SANDBOX, which will serve as a learning platform to develop scalable solutions for industrial application" Surachai said.

Professor Dr. Wilert Puriwat, President of Chulalongkorn University, emphasized the university's role as a Strategic Knowledge Partner in bridging research and real-world implementation, while fostering "Green Talent" to support industrial transformation.

"Chulalongkorn University sees this collaboration as a strategic mechanism to strengthen the knowledge base in low-carbon technologies alongside human capital development. This will enhance workforce capabilities in line with the transition and support Thailand's long-term green economy" Professor Dr. Wilert said.

H.E. Ping Kitnikone, Ambassador of Canada to Thailand, expressed Canada's strong support for the initiative, highlighting over 65 years of bilateral relations and shared commitment to climate action.

"This collaboration encompasses knowledge transfer, technology, and expertise in greenhouse gas mitigation, particularly through technical experts and capacity building. Carbon capture technology will serve as a bridge between innovation and industrial application, helping drive the transition toward a low-carbon economy," the ambassador noted.

From the government side, Dr. Pirun Saiyasitpanich, Director General of Department of Climate Change and Environment, Ministry of Natural Resources and Environment stated that the cement industry is a strategic sector in reducing national greenhouse gas emissions toward Net Zero 2050, while strengthening climate resilience.

"This collaboration serves as a key policy mechanism linking project-level implementation to national-level action, with SARABURI SANDBOX acting as a testbed for learning and development. The outcomes will inform policy design and enable effective scaling at the national level" Dr. Pirun said.

Teeratas Isarangkul Na Ayudhaya, Deputy Director General of the Department of Industrial Works, Ministry of Industry added that the initiative aligns with the "One MIND" policy, which integrates regulation with the promotion of green industry.

"The Department stands ready to support this collaboration in developing a scalable industrial model that enhances Thailand's competitiveness in a sustainability-driven global economy". Teeratas said.

Dr. Chana Poomee, Honorary Chairman of TCMA and President of ASEAN Federation of Cement Manufacturers (AFCM), highlighted the initiative as a key step in positioning Thailand as a "regional model" for industrial decarbonization.

"By integrating cross-sector collaboration through PPP, linking policy, technology, knowledge, and workforce development to real-world implementation, this initiative will establish the foundation of a Low-Carbon Industrial Ecosystem and evolve into a system-level model that can be scaled across the region," he said.

This collaboration marks the starting point of Thailand's low-carbon industrial ecosystem, connecting knowledge, technology, innovation, human capital, and policy into real-world applications and commercial pathways. It is expected to accelerate the transition to a low-carbon economy, strengthen climate resilience, and enhance the country's competitiveness in an increasingly sustainability-driven global landscape.

The issuer is solely responsible for the content of this announcement.

This latest agreement marks a continuation of the strategic partnership between the two organizations, building upon the success of Shama Lakeview Asoke, which ONYX manages on behalf of JR Kyushu Group. The property has earned recognition as one of the leading serviced apartments in Bangkok's central business district, reflecting the Japanese partner's strong confidence in ONYX's management capabilities and in-depth market expertise.

The development of Shama North Pattaya therefore represents not only an expansion into a high-potential location, but also a reaffirmation of ONYX's disciplined growth strategy. By collaborating with globally respected partners, the group continues to strengthen its footprint in the EEC.

Yuthachai Charanachitta, Chief Executive Officer of ONYX Hospitality Group, stated that this joint venture with JR Kyushu Group reflects the company's long-standing commitment to growing alongside its partners. It also marks ONYX's second joint venture with an international partner under its strategic expansion plan, underscoring continued investor confidence in the company's capabilities, as well as its ongoing pursuit of investment opportunities and strategic collaborations with high-potential partners.

"For ONYX Hospitality Group, growth is not defined merely by the number of projects we develop, but by the strength of the partnerships we cultivate. Our joint venture with JR Kyushu Group reflects a shared vision and a commitment to creating long-term value together.

The Shama brand has grown from a deep understanding of the long-stay market, which we have consistently studied and monitored over the years. We see clear future potential in this segment. Each Shama development is founded on comprehensive insights into resident needs and expectations, placing emphasis on the core of the living experience — comfort, flexibility and a genuine sense of home — all delivered to international standards.

Shama North Pattaya represents another important strategic property in strengthening and completing ONYX Hospitality Group's presence in Pattaya, a high-potential destination within the EEC, alongside our key brands Amari and OZO, helping to create a more integrated and cohesive hospitality cluster in the area."

Yuthachai added, "Shama North Pattaya reflects ONYX's commitment to strengthening Thailand's position as a leading destination for long-term residents while supporting the sustainable growth of the residential hospitality sector."

Toshihiro Mori, Representative Director and Senior Managing Executive Officer of Kyushu Railway Company stated that this joint venture marks an important next step in JR Kyushu Group's continued partnership with ONYX Hospitality Group in Thailand, building on the success of Shama Lakeview Asoke.

"Following our successful collaboration on Shama Lakeview Asoke Bangkok, we are pleased to deepen our partnership with ONYX Hospitality Group through Shama North Pattaya. We see strong potential in Pattaya as a leading resort destination within the EEC, and we have full confidence in ONYX's hospitality expertise to deliver an exceptional property that meets the evolving needs of both Thai and international guests. We look forward to creating lasting value together."

Strategically located in North Pattaya, a key tourism and economic hub within the EEC, Shama North Pattaya is designed to blend the comfort and convenience of serviced apartments with the refined services of a leading hotel brand. The project aims to cater to the steadily expanding long-stay segment, which is projected to continue its upward trajectory in 2026 and beyond.

The partnership between ONYX Hospitality Group and JR Kyushu Group not only highlights the complementary strengths of both organisations, but also serves as a strong indicator of Japanese investor confidence in Thailand's economic stability and long-term prospects. At the same time, it signals the readiness of Thai hospitality brands to compete and grow alongside global partners in a sustainable and forward-looking manner.

The issuer is solely responsible for the content of this announcement.

More information: www.onyx-hospitality.com