Moving beyond conventional camera hardware, USI's AI Smart Camera integrates a high-performance, low-power edge computing platform, high-resolution imaging technology, and proprietary AI vision software to deliver real-time image analysis and actionable insights at the edge. Designed for modern manufacturing environments, the solution enables automated inspection, early defect detection, and faster, more consistent quality decisions. By reducing inspection costs, improving production efficiency, and enhancing product quality, it helps manufacturers accelerate their transition toward smarter and more autonomous production operations.

For manufacturers, the journey to AI-powered vision extends beyond object detection and defect identification. Success depends on turning AI from a proof-of-concept project into a production-ready solution that delivers consistent performance, scales efficiently, and seamlessly adapts to evolving manufacturing requirements.

USI addresses this challenge with an integrated AI Smart Camera platform that supports the complete AI development lifecycle—from data collection and dataset generation to model training and deployment. Its no-code/low-code AI model training platform further simplifies development, enabling customers to develop and deploy vision applications with greater efficiency and less dependence on specialized AI expertise.

Key features of USI AI Smart Camera include:

• Real-Time Edge AI Processing: Performs image analysis and AI inference at the edge, enabling fast visual decisions and timely responses without relying solely on centralized computing.
• High-Quality Imaging for Industrial Inspection: Combines a high-resolution, low-lux-capable camera module with powerful Edge AI computing to support demanding inspection and machine vision applications.
• Faster AI Deployment: Integrates hardware, embedded software, and AI vision development tools into a production-ready platform, helping customers shorten development cycles and accelerate the transition from proof of concept to production.
• Flexible AI Vision Applications: Supports object detection, defect identification, OCR, key-part positioning and tracking, assembly verification, product classification, and operation behavior detection and analysis.
• Seamless Integration with Industrial Environments: Ruggedized design with industrial-grade interfaces, including Ethernet, Power over Ethernet (PoE), HDMI, and MicroSD, ensuring seamless compatibility with existing equipment, machine vision systems, and automation platforms.

By automating visual inspection and defect identification, the AI Smart Camera can reduce reliance on manual QA operations while improving inspection consistency. Its real-time visual intelligence can also provide actionable data to help manufacturers quickly identify process deviations, reduce defect rates, and lower production costs. The platform can further serve as an intelligent visual decision layer for automated production, providing real-time visual guidance and feedback to robotic systems. This enables manufacturers to move beyond inspection automation toward more responsive and autonomous production processes.

"Demand for AI-powered vision applications is growing rapidly across the manufacturing sector. Today's manufacturers are seeking more than just camera hardware. They need complete, end-to-end solutions that can be deployed quickly and deliver measurable business value," said Justin Chang, Director of the Vertical Mobility Solution Center at USI. "By combining advanced Edge AI capabilities with our integrated vision platform, we enable customers to accelerate the adoption of smart manufacturing, quality inspection, and industrial automation applications. Our solution helps bring AI from proof of concept to production faster and more efficiently."

As a global ODM partner, USI combines expertise in product design, manufacturing, and Edge AI integration to deliver complete solutions tailored to customer requirements. The AI Smart Camera is already deployed within USI's own manufacturing operations, providing a production-proven reference platform for industrial AI vision applications.

Building on this experience, USI can customize AI vision solutions around customers' specific production environments and business requirements, helping shorten development time, reduce implementation risks, and accelerate their smart manufacturing journey.

In the smart ward scenario, Huawei collaborated with Cadi Scientific and Lachesis to launch the AI+ Smart Ward Solution. Combining continuous vital-sign monitoring, intelligent sensing, RTLS and smart medical carts, the solution transforms care from periodic monitoring to continuous observation and from reactive response to proactive risk prevention. It streamlines point-of-care workflows, reduces repetitive nursing tasks and enables earlier risk detection, helping hospitals enhance patient safety and improve ward operational efficiency.

In the pathology scenario, Huawei collaborated with TEKSQRAY to launch the AI+ Pathology Scenario Solution, combining TEKSQRAY's digital pathology and AI capabilities with Huawei OceanStor. Evolves from manual microscope-based slide examination to AI-powered analysis of digitized pathology images, enabling faster, more consistent, and data-driven disease diagnosis, and from single case research to population level insights. By reducing repetitive diagnostic workloads and bridging gaps in pathology expertise, it improves diagnostic efficiency and helps extend more consistent, high-quality pathology services to patients.

In the clinical decision support scenario (CDSS), Huawei collaborated with GuidelineX to launch the AI+ CDSS Scenario Solution, supported by Huawei OceanStor and Ascend. The scenario augments clinical decision-making with AI assisted diagnosis, evidence-based treatment support, and early risk alerts, helping clinicians make more precise and consistent decisions while improving the patient experience.

In the full-cycle clinical intelligence scenario, Huawei collaborated with Runda Medical Technology to launch the AI+ Clinical Intelligence Scenario Solution, leveraging Huawei OceanStor and Ascend to enable coordinated AI across care workflows. It brings AI coordination to patient care, enables multi-step workflow orchestration, and helps shift patient journey management from reactive to proactive, streamlining care delivery while allowing clinicians to focus more on patient care.

During HIMSS26 APAC, Huawei also showcased scenario-based solutions across Preventive Healthcare, telemedicine and Hospital Operation Center (HOC) demonstrating how digital and intelligent technologies can extend across the healthcare journey.

Together Huawei will continue to work with customers and partners across APAC to accelerate scenario-based AI innovation and bring intelligence into more healthcare workflows.

Following IMDA's rigorous evaluation, ThreatBook is now part of the IMDA Accreditation program, which recognizes innovative and high growth information, communications and media (ICM) technology companies as qualified contenders to service government and large enterprise entities. The program provides end users with independent assurance that accredited companies possess solutions with validated core product functionalities and the capability to consistently deliver. The company's solutions were independently assessed and the company's technology, operational capabilities, and ability to support enterprise deployments were validated.

Being accredited effectively places the company in the green lane government procurement process, making it easier for public sector entities to purchase ThreatBook solutions. ThreatBook is one of a limited number of vendors that have been accredited to date, further cementing the company's highly respected status among Singapore's tech community.

A global cybersecurity company specializing in advanced threat intelligence, detection, and response, ThreatBook equips customers with the clarity and context needed to defend against evolving digital risks. By combining artificial intelligence (AI) with deep threat intelligence, ThreatBook delivers real-time visibility, hyper-accurate detections, and early-warning insights against nation-state actors, cybercriminal groups, and emerging attack campaigns. With unparalleled insights on the tactics, techniques and procedures (TTPs) used by both Eastern and Western perpetrators, ThreatBook is able to detect attacks emanating from Asia that rival security vendors typically miss.

"Being accredited by IMDA is a significant milestone for the company, expected to streamline the government's procurement process for us going forward. It is also a landmark moment for Singapore-based customers, who now have the peace of mind that our full cycle suite of industry leading security solutions is IMDA-recognized, and genuinely deliver what they promise," said Mr Chase Li, Co-founder and Managing Director for International Business at ThreatBook. "That Singapore is one of the world's leading digital and technology hubs, recognized for its pioneering excellence across all disciplines including cybersecurity and AI, adds further prestige to our accreditation — empowering us to further grow here in Singapore and the rest of the world."

"Cyber resilience has become a strategic priority for organizations navigating an increasingly sophisticated digital landscape. We are pleased to accredit ThreatBook, whose advanced threat intelligence capabilities complement Singapore's growing ecosystem of trusted cybersecurity innovators. We look forward to supporting ThreatBook's regional expansion and helping enterprises access proven solutions that strengthen their cybersecurity posture," said Mr Edwin Low, Director for Enterprise & Ecosystem Development at IMDA.

ThreatBook's AI-powered applications service all stages of the security lifecycle — protecting cloud environments, networks, endpoints and perimeters with precise threat detection, automated triage and analysis, and coordinated remediation and response. The company's solutions address three key features today's security operations (SecOps) demand: precision; the capability to spot APAC-emanating threats that Western solutions usually overlook; and being able to identify threats long before they strike.

ThreatBook's best-of-breed AI-powered solutions include:

• ATI, providing unmatched intelligence accuracy and actionability at scale.
• DRPS, identifying and removing rogue sites, apps and dark web exposures.
• Investigator, an online research tool that lets security analysts investigate suspicious IPs, domains, file hashes, and threat actors.
• ThreatBook TDP, a network detection and response solution fusing threat intelligence with behavioral analytics.
• SafeSkill, protecting SecOps against AI agent skills threats.
• OneDNS, blocking suspicious web addresses.
• Flocks, an agentic SecOps platform organizing activities and agents within a single operational loop.

To learn more, visit www.threatbook.io

Suunto today announced the global launch of Suunto Run 2, a new-generation running watch built for road running and marathon training. It is designed for runners who train with intent, from a first marathon to a personal best, and brings running, training and recovery together in a 35 g watch body that is light enough to forget and quick enough to read at a glance.

Run 2 builds on the success of Suunto Run with upgrades runners feel on every outing: a three-times-brighter 2,000-nit AMOLED display, 29 percent more battery capacity, a redesigned 12-channel wrist heart rate sensor, new-generation dual-band GNSS, and free worldwide offline maps. Alongside a broad range of running modes and training tools, Run 2 is as ready for an easy morning loop as it is for a structured interval session, a long weekend run or race day.

A 35 g Watch Body, Built to Stay On

Run 2 is designed to stay out of the way of the run. At 35 g for the watch body and 11.7 mm thick, it sits close on the wrist through the working day, through sleep and through the longest sessions of a training block. Runners can put it on and leave it on, which means training, sleep and recovery all land in the same picture.

The 1.32-inch AMOLED display reaches 2,000 nits, three times brighter than Suunto Run, keeping pace, heart rate and distance readable in direct sunlight. Numbers are large, clear and quick to take in, so runners can check them and stay in rhythm.

A 29 percent increase in battery capacity over Suunto Run delivers around 10 days of everyday use with training and up to 24 hours of dual-band GNSS, enough to cover a full training week and leave the charger at home. Actual battery life may vary depending on settings, usage and operating conditions.

Built for everyday life as well as training, Run 2 combines a stainless steel bezel, Gorilla Glass and 5 ATM water resistance in a compact design made to handle changing weather, long runs and everything in between.

Confidence in Every Kilometer

The most important numbers on a running watch are the ones runners can trust. Run 2 introduces a redesigned 12-channel wrist heart rate sensor behind 2.5D curved sensor glass, improving accuracy from an easy recovery run through hard intervals and race-day surges.

For runners who want to take heart rate training further, Run 2 pairs with the Suunto Smart Heart Rate Belt 2 for beat-to-beat data and deeper analysis. That includes Suunto ZoneSense, which uses heart rate variability to show exercise intensity as it actually is on the day. Where fixed heart rate zones give a general guide, ZoneSense follows how the body responds during the session, showing whether a runner is working aerobically, moving into anaerobic intensity or approaching a maximum effort. Because fatigue, recovery and conditions shift from day to day, it gives dedicated runners a far more personal picture of how hard the work really is.

Run 2 also features new-generation dual-band GNSS, tracking L1 and L5 signals across GPS, GLONASS, Galileo, BeiDou and QZSS to keep position, distance and pace closer to the actual route. Together with wrist heart rate measurement, it gives runners information they can act on, in everyday training and on race day alike.

Suunto Smart Heart Rate Belt 2

Launching alongside Run 2, Suunto Smart Heart Rate Belt 2 brings precision to serious training. Built for endurance athletes who train by intensity, it delivers accurate exercise heart rate and high-resolution beat-to-beat R-R interval data across road running, trail running, cycling, triathlon, and the winter and mountain sports where a wrist sensor struggles to hold skin contact.

ECG-based detection identifies QRS-complex artifacts in heart rate and R-R interval measurement, while a new chest-strap construction guards against ESD noise. The result is a heart rate trace that follows intervals, sustained surges and long efforts more consistently, and the quality of R-R data that ZoneSense needs to read intensity as it is on the day. ZoneSense requires a compatible Suunto watch.

A compact transmitter and a soft strap with silicone grip features keep the belt securely in place through long sessions, with less bulk on the chest and fewer adjustments along the way. Approximately 460 hours of battery life keep maintenance rare.

Paired with a compatible Suunto watch, a six-axis IMU adds running-form measurement, covering cadence, ground contact time, vertical oscillation, flight time, GCT/FT ratio and left/right ground-contact balance, so athletes can see how form changes with speed and fatigue. Up to 20 hours of rolling memory holds data on the belt, and a compatible Suunto watch reads it back by timestamp to keep the record continuous through a temporary signal interruption.

Smart Heart Rate Belt 2 connects to as many as three devices at once over a protected Bluetooth connection, sending the same live heart rate to a watch, a bike computer and a phone together. Running-form measurement and workout memory are available with compatible Suunto watches.

Pricing and Availability

SHRM2 pricing and availability pre-orders open on September 8, 2026, with global availability from September 15, 2026, at a recommended retail price of AUD 249.

Real-Time Insight During the Run

Effort is easy to misjudge in the moment. Energy Sense shows current effort against remaining capacity, so runners can see what they are spending and what is still available while the decision is still theirs to make.

Live Finish Prediction takes the current pace and shows where it leads, giving a real-time view of the finishing time. Both features are built to inform the call while there is still road left to act on it: hold the pace, ease off, or push.

From the First Kilometer to Race Day

For runners working toward a goal, Training Plan turns a target such as a sub-four-hour marathon into the individual sessions that get there, from easy runs and intervals to long runs. Training Zone brings training load, HRV, sleep and recovery into one view, making progress across a whole block easy to follow.

Run 2 covers every kind of running, with dedicated running modes for daily training, speed work and racing. When race day arrives, Marathon Mode adds Ghost Runner and race-focused tools that keep the target in sight from the start line to the finish.

Every Route, from City Streets to Trails

Run 2 is also ready when the familiar roads end. Free worldwide offline maps download directly to the watch and work entirely from the wrist, so routes, streets and surroundings stay available anywhere the run goes. Exploring a new city, following an unfamiliar route or heading off the road at home all start the same way: download the map, then run.

Music and podcasts can also be stored on the watch and played through wireless headphones, so the phone can stay at home on the days when a run is just a run.

Pricing and Availability

Suunto Run 2 pre-orders open on September 8, 2026, with global availability from September 15, 2026, at a recommended retail price of AUD 599 (4GB) / AUD 699 (64GB).

Suunto Run 2 will be available through the official Suunto website, Suunto's authorised Australian distributor, Suunto's authorised New Zealand distributor, and Amazon Australia.

Colorways: All Black, Feather Gold, Aloe Green

Notes to editors: Suunto Run 2 launches as part of the See the Run Ahead campaign, featuring US Olympic marathoner Clayton Young.

www.suunto.com

Company No. 1391040

NOTICE is hereby given pursuant to Section 204, subsection 1 (b) of The BVI Business Companies Act, 2004 that the Company is in voluntary liquidation. The voluntary liquidation commenced on 25 August 2026. The Liquidator is Mrs. Cassandra Glasgow-Penn with address at Chapel Hill, East End, Tortola, VG 1120 British Virgin Islands.

Dated 8 September 2026

For and on behalf of PA Investment Opportunity II Limited

On August 28, Long Chau joined People’s Army Newspaper, the Ho Chi Minh City Military Command, and the Party Committee and People's Committee of Con Dao Special Administrative Zone to organise the “Journey of Gratitude – For a Healthy Vietnam” programme, featuring activities to honour people who have contributed to the country, provide healthcare, and support social welfare.

The programme marked the anniversary of the August Revolution and National Day (September 2), while encouraging the tradition of “when drinking water, remember its source.” It provided support for policy families, people who contributed to the revolution, and residents of coastal and island areas.

The initiative also aligns with the spirit of the Politburo's Resolution No.72-NQ/TW on breakthrough solutions to strengthen the protection, care, and improvement of people's health.

Speaking at the opening ceremony, Dao Xuan Bo, editor-in-chief of People’s Army Newspaper, said, “The programme was an expression of gratitude from today’s generation to those who devoted their youth and lives to the country. Through concrete actions, the organisers sought to care for the material and spiritual wellbeing of families and people who contributed to the revolution, while preserving and passing on the values for which previous generations had sacrificed.”

Le Dinh Son, Vice Chairman of Con Dao People’s Committee, emphasised the programme's humanitarian significance. He said it not only honoured the tradition of gratitude but also provided practical and timely support for social welfare and community healthcare in Con Dao.

The programme also helped mobilise community resources, promote social responsibility, and strengthen solidarity among government agencies, organisations, businesses, and local residents. Con Dao authorities expressed their appreciation to People’s Army Newspaper, Long Chau, healthcare professionals, and other organisations for their support.

Photo: Hoang Khanh

Hoang Trung Kien, CEO of FPT Retail and representative of Long Chau, said, “Long Chau has always worked to bring modern and safe healthcare products and services closer to people across the country. With a network of more than 2,700 pharmacies, over 230 vaccination centres, and more than 22,000 staff, Long Chau aims to leverage its resources to improve access to quality healthcare services in communities nationwide.”

“Given Con Dao’s unique geographic conditions, Long Chau particularly valued the opportunity to work with local authorities and organisations on stroke prevention and community healthcare activities. We hope these activities will provide useful knowledge and encourage a proactive approach, enabling people to better care for their own health and that of their families.”

One of the programme’s highlights was a consultation seminar on proactive stroke prevention. Healthcare experts provided residents with practical information on recognising stroke warning signs using the F.A.S.T. method, first-aid skills for emergencies, and the management of underlying health conditions.

Long Chau also worked with other organisations to provide free health screenings and stroke-risk consultations. On the morning of August 28, hundreds of Con Dao residents had their blood pressure measured and were screened for atrial fibrillation to help identify stroke-related risks. They also received medicines and free healthcare products. Doctors provided individual consultations and guidance on further medical monitoring to residents showing abnormal signs.

According to healthcare experts, such screenings and stroke-prevention consultations not only give residents greater opportunities to monitor their health but also raise awareness of disease prevention. The initiative encourages people to proactively manage risk factors through regular health checks rather than seeking medical attention only after illness develops.

Photo: Hoang Khanh

Alongside the healthcare activities, the delegation held a memorial ceremony at Hang Duong Cemetery to pay tribute to martyrs who sacrificed their lives and rest in Con Dao.

Following the ceremony, the delegation visited and presented gifts to dozens of families of martyrs, wounded and sick soldiers, former Con Dao political prisoners, and veterans in difficult circumstances. This was an opportunity to meet and listen to the stories of historical witnesses.

FPT Long Chau named top Vietnamese winner at Healthcare Asia Awards FPT Long Chau Pharma has been named the only Vietnamese recipient of the Health & Wellness Initiative of the Year award at the 2026 Healthcare Asia Pharma Awards.

Digital Citizen Stations bring new health services A Digital Citizen Station has appeared on Nguyen Hue Pedestrian Street, Ho Chi Minh City, offering free digital healthcare services to residents and visitors.

Digital Citizen Station recognised as ministry-level initiative The Digital Citizen Station has been recognised by the Ministry of Public Security as a ministry-level administrative reform initiative.

Broad Applicability Across Various Ethnicities and Mutations

β-hemoglobinopathies are among the most common monogenic disorders, with SCD affecting over 300,000 and TDT over 40,000 newborns annually worldwide. Pathogenic mutations vary significantly across populations. The team previously developed the ultra-high-precision tBE (Wang et al., Nat Cell Biol, 2021) to precisely edit the HBG1/2 promoter region in autologous HSPCs collected from patients, reactivating γ-globin expression. The four patients' genotypes in the current study encompassed β^S/β^S SCD and three TDT genotypes—β⁰/βᴱ, β⁰/β⁰ with a large deletion, and β⁰/β⁰ with single-nucleotide insertion—validating the strategy's universal applicability.

Clinical Data: Rapid Engraftment, Durable Response, Complete Transfusion Independence, and No Off-target Mutations

The SCD patient (21-year-old female from Nigeria), who experienced more than four VOCs during the year prior to enrollment, achieved neutrophil and platelet engraftment on days 13 and 21 post-infusion. Total hemoglobin level increased from 7.7 g/dL at baseline to 12.9 g/dL at month 3, remaining above 11 g/dL; HbF level increased from 3.5% to 62.2%, while HbS level decreased from 76.1% to 31.6%, stabilizing at a ~6:4 ratio. At 15.5 months follow-up, no VOCs occurred.

The three TDT patients (ages 3-29, from Laos, Malaysia, and Pakistan) achieved median neutrophil engraftment at 13 days and platelet engraftment at 27 days. Mean total hemoglobin concentration reached 11.6 ± 1.2 g/dL and mean HbF concentration increased to 9.8 g/dL at month 3. At median follow-up of 17.5 months, all achieved sustained transfusion independence. No off-target edits or product-related adverse events were detected.

Comparison with Nuclease-Based Gene Editing Therapies: Faster Engraftment, Higher Expression, Better Safety

In SCD clinical trials, tBE achieved superior neutrophil engraftment (13 days) compared to Cas9 (27 days) and Cas12a (23 days), and superior platelet engraftment (21 days) versus Cas9 (35 days) and Cas12a (25 days). tBE sustained HbF >60% of total hemoglobin, markedly outperforming Cas9 and Cas12a regimens (<50%).

Unlike nucleases that rely on DNA double-strand breaks (DSBs), tBE enables precise base conversion without cutting DNA, avoiding p53 activation, apoptosis, large deletions, and chromosomal rearrangements. Its dual gRNA and "lock-and-key" design further minimizes off-target risks. Through a cleavable "lock", tBE becomes active only at on-target sites to induce highly efficient editing. When binding at off-target sites, tBE was "locked" to avoid triggering off-target mutations.

Global Progress and Regulatory Pathway

To date, CS-101 and CS-206 have treated more than 30 patients across China, Africa, Southeast Asia, and South Asia, with 100% of patients achieving transfusion independence or freedom from VOCs, accompanied by sustained, high-level hemoglobin expression. CS-101, the world's first ongoing base-editing therapy candidate to enter clinical development, with the first patient dosed in October 2023, has completed Phase I and is now being evaluated in pivotal trials. All patients treated in Phase I have maintained transfusion independence for more than one year, with the longest duration approaching almost three years.

Professor Chen Jia, founder of Correctseq and Director of the Gene Editing Center at ShanghaiTech University, stated: "This Cell Stem Cell paper validates tBE's broad applicability across diverse genetic backgrounds, completing the translational journey from bench to global clinical application. Our team is also exploring RNA editing, prime editing, and mitochondrial DNA editing for other therapeutic areas."

Dr. Mou Xiaodun, CEO of Correctseq, added: "The data demonstrate tBE as a global Best-in-Class platform. We are also expanding into metabolic and cardiovascular diseases including hypertriglyceridemia/familial chylomicronemia syndrome (FCS), ASCVD/hyperlipoproteinemia, homozygous familial hypercholesterolemia (HoFH), and metabolic dysfunction-associated steatohepatitis (MASH). We are accelerating multiple pipelines toward global IND submission to bring China-originated gene editing to more patients worldwide."

Cell Stem Cell paper link: https://doi.org/10.1016/j.stem.2026.08.009

For more information, visit www.correctsequence.com.

• 2023 Alarm.com Silver Premier Partner
• 2024 Alarm.com Silver Premier Partner
• 2025 Alarm.com Silver Premier Partner

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

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

• Prelude & "Meet the Experts" Webinars: A digital-first series starting as early as August 2026 to guide exporters through market entry requirements, compliance, and international trade facilitation mechanisms.
• Pocket Talk: Concise, high-impact physical sessions focused on emerging industry trends, rapid innovation, and practical market solutions delivered live by Halal trade experts.

• #SembangBlog / #SembangSantai Podcast: A new flagship live podcast format bringing a conversational edge to MIHAS 2026, featuring industry pioneers, leaders, and changemakers sharing real-world business journeys and bold ideas for the future Halal economy.

• Power Talk (The Finale): Taking place on 23 September 2026 at 10:00AM at MITEC Kuala Lumpur, this flagship session features corporates leaders from DHL Express, UOB Malaysia, and Farm Fresh. The panel will address supply chain resilience, e-commerce fulfilment, trade financing, and strategies for navigating geopolitical headwinds.

The expansion builds on the success of the 2025 edition, which drew 2,000 participants across 23 physical sessions and 16 international "Meet the Experts" webinars that featured 74 industry experts, connecting local businesses directly with trade experts across ASEAN, East Asia, the Middle East, Europe, and the Americas.

Beyond strategy, the platform acts as a direct preparation runway for MATRADE's flagship International Sourcing Programme (INSP), equipping local sellers with the market data and confidence required to convert B2B meetings into signed export contracts.

MATRADE Chief Executive Officer, YBhg. Dato' Indera Abu Bakar Yusof said, "Export success today depends not only on having quality products and services, but also on understanding international market dynamics, buyer expectations, regulatory requirements, and emerging trends. These are key success factors in gaining market access globally."

"The MIHAS Knowledge Hub helps businesses bridge that gap by connecting them with industry experts, buyers, and policymakers who provide practical, actionable insights. By introducing more accessible formats such as live podcasts alongside our technical sessions, we are making critical market intelligence easier to engage with and apply," he added.

MIHAS 2026 takes place from 23 to 26 September 2026 at MITEC, Kuala Lumpur. Malaysian exporters, SMEs, and industry stakeholders are invited to register early to access exclusive trade insights, expert networks, and global business opportunities via the official MIHAS website.

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

Xenohelix, a biotechnology company spun off from Yonsei University, will support Minré's development of an upcoming skincare range featuring its patented miPDRN® technology. The collaboration will make Minré the first Singapore skincare brand to work with Xenohelix's proprietary miPDRN® technology.

PDRN, or polydeoxyribonucleotide, is increasingly discussed in regenerative and aesthetic skincare. Minré believes consumers should look beyond whether a product contains PDRN to the quality and science behind the technology.

"Great science happens when different expertise comes together," said Dr Zach Pang, Co-founder of Minré. "By combining Singapore's strengths in biotechnology with Korea's leadership in beauty and aesthetic innovation, we're bringing together complementary expertise to create better skincare."

Dr Chee Wai Fhu, Co-founder of Minré, added: "The future of skincare will be shaped by science-backed innovation, not short-lived trends. Better science ultimately allows us to build better skincare."

Micro PDRN for Next-Generation Skincare
Xenohelix's miPDRN® is designed to support enhanced skin penetration. At approximately 12 kDa and around 20 base pairs, it is described by Xenohelix as the world's smallest PDRN molecule, with its ultra-small size designed to support more effective absorption and deeper penetration into the skin. (Source: Xenohelix company profile, Vegan & Clean Beauty Fair 2026; COSIN Korea, 2026.)

Minré and Xenohelix will work together on product co-development, formulation optimisation and scientific validation.

Pairing Skincare Science with Korean Delivery Technology
Minré is also collaborating with UMECO Group, a South Korean beauty technology company specialising in nanoporation, regenerative phototherapy and professional aesthetic solutions.

The partnership combines Minré's regenerative skincare expertise with UMECO's proprietary nanoporation technology, designed to support the delivery of skincare formulations through the skin.

Developed under the clinical advisory of dermatologist Dr Jung Jae-Yuk, who has served as a medical advisor to the President of South Korea, UMECO's technology will support joint exploration of treatment protocols, scientific evaluation, user studies, practitioner education and future product-technology innovations.

Singapore-Korea Collaboration
The two Memoranda of Understanding (MOUs) mark the first stage of Minré's strategy to connect Singapore's biotechnology ecosystem with international expertise in beauty, dermatology and aesthetic technology, beginning with South Korea.

Minré plans to continue working with universities, biotechnology companies, clinicians and technology innovators internationally as it develops its science-driven skincare portfolio.

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

Which policy measures will have the greatest impact in shifting Vietnam from a cost-driven to an innovation-driven growth model?

Five measures are likely to have the greatest impact. First, with credit-to-GDP above 140 per cent, Vietnam can benefit from greater access to equity, venture capital and corporate bonds. The FTSE upgrade from September and targeted MSCI upgrade in 2028-2031 can therefore be seen as part of the broader innovation policy.

Second, the 200 per cent research and development (R&D) super-deduction is a positive step, but Vietnam’s R&D spending remains only 0.4–0.5 per cent of GDP. Tax incentives alone are insufficient; direct government co-funding could also help support early-stage, high-risk R&D.

Third, Vietnam could shift from a “managing” to a “facilitating” state by introducing regulatory sandboxes, cutting processing times and business conditions by at least 30 per cent, moving away from the “request-and-approval” model, and ensuring faster, more predictable approvals.

Fourth, develop sector-specific talent. Talent policies could focus on strategic areas such as semiconductor integrated circuit design and AI, with training aligned closely with industry needs. Existing initiatives by Google and Intel provide a foundation but could become more targeted.

Finally, Vietnam could prioritise anchor investors committed to technology transfer and stronger domestic links, helping build industrial ecosystems and making foreign direct investment (FDI) a catalyst for innovation, technology upgrading, and domestic value creation rather than mainly low-cost production.

How do you assess Vietnam’s position in AI, semiconductors, data centres, and biotech, and how can Resolution No.10-NQ/TW on foreign investment be implemented for regional edge?

Vietnam has a strong base in semiconductor assembly, packaging and testing, but could move into chip design and, longer term, fabrication.

AI is also growing rapidly, with investment rising 13-fold since 2023 to $130 million. Data centres have strong potential, supported by a digital economy accounting for around 14 per cent of GDP, but face power and land constraints. Biotech remains at an early stage and could benefit from more investment in R&D, infrastructure, talent and industry linkages. Regionally, Vietnam’s advantages include its young population, diversified global value chain participation, disciplined workforce and rapid institutional reform. Yet competition is intensifying, with Malaysia leading in semiconductor packaging, Singapore in capital depth and biotech, and India and Indonesia offering larger talent pools.

Converting these advantages into a durable regional edge will depend on how effectively policy translates them into action.

To gain a regional edge, Resolution 10 could adopt outcome-based incentives tied to technology transfer, local suppliers, R&D and domestic capability development. These incentives could be backed by reliable power, industrial land and efficient permitting, with consistent implementation across all provinces and centrally governed cities.

Finally, the resolution could build on existing National Innovation Centre (NIC) partnerships with global technology leaders such as Nvidia, TSMC, Samsung, Qualcomm, and ASML, and align with the national semiconductor industry master plan. A priority could be to scale existing initiatives and strengthen domestic capabilities rather than create overlapping programmes.

What incentives would help the private sector see R&D as an investment, not a cost?

A simple tax deduction mainly benefits profitable companies, while many R&D-intensive startups and early-stage technology firms remain loss-making. Vietnam could therefore consider broader, targeted incentives to encourage R&D as a long-term investment.

One option is refundable R&D tax credits for loss-making, R&D-intensive firms, providing support before they generate taxable profits. Vietnam could also consider “patent-box” tax treatment, offering preferential taxation on income from commercialised intellectual property and encouraging firms to turn R&D into valuable products and technologies.

Government co-funding or matching grants could also help share the risks of early-stage R&D, following models such as South Korea’s. These mechanisms are especially important for technologies with long development cycles, high upfront costs and uncertain returns.

Stronger intellectual property protection is equally essential. R&D incentives will have limited impact unless companies can trust that their technologies, patents and other intellectual assets will be effectively protected, giving them confidence to invest in innovation.

Vietnam could also develop R&D-linked financing, including venture debt and intellectual property-backed lending, as its bank-based, collateral-driven system is poorly suited to asset-light, R&D-intensive businesses whose value lies mainly in intellectual property, technology and talent.

Finally, R&D incentives should be linked to talent development, for example by increasing tax credits based on the number of domestic researchers hired or trained.

How will FDI decisions be influenced over the next 5-10 years, and what is critical to implementation?

Resolution 10 is likely to make FDI more selective rather than simply increase or reduce inflows. High-quality investments in semiconductors, AI, data centres and eco-industrial parks could deepen their commitment to Vietnam, while low-value assembly and transshipment projects may face less favourable treatment amid tighter origin scrutiny and anti-fraud measures.

This mirrors Singapore’s shift from prioritising FDI volume to investment quality. As Vietnam follows this path, headline FDI may grow more slowly, while domestic value and technological capabilities generated per dollar increase. This could be viewed as a sign of the policy working as intended.

Implementation will depend on policy predictability, infrastructure and talent. Investors need consistent policies across all provinces and centrally governed cities, reliable power, suitable industrial land, and efficient approvals. Vietnam could also develop specialised talent alongside investment attraction, particularly for high-tech industries.

Finally, relevant resolutions could be implemented in a coordinated manner, with clear responsibilities and aligned mechanisms. The ultimate measure of success could extend beyond FDI volume to include tech transfer, stronger domestic supply chains, higher productivity and greater domestic value creation.

What aspects could be prioritised to build a globally competitive innovation ecosystem?

There are six main areas to look at. First, strengthen collaboration among government, businesses, research institutions and startups, building on the NIC’s existing initiatives and partnerships.

Second, deepen capital markets to finance scale-ups and provide credible exit opportunities. The expected $3-5 billion initial public offering pipeline for 2026-27, alongside the market upgrade process, can be viewed as part of innovation policy.

Third, concentrate resources in two or three flagship technology clusters rather than spreading them too thinly, for example, semiconductors in Bac Ninh, Bac Giang, and Thai Nguyen; AI in Hanoi and Ho Chi Minh City; and green technology and fintech through the international financial centre in Danang.

Fourth, strengthen talent absorption and retention through joint R&D labs, localisation targets and closer links between companies, universities and research institutions, following models such as Taiwan’s Industrial Technology Research Institute-Hsinchu ecosystem. Stronger intellectual property protection should also be treated as essential innovation infrastructure.

Fifth, empower strong domestic companies to lead key technology sectors while developing broad supplier and small and medium-sized enterprise ecosystems around them. The target of two million enterprises can help strengthen domestic supply chain depth and resilience.

Finally, deepen international integration, connecting Vietnam with global capital, overseas Vietnamese talent, universities and research institutions. This would complement domestic capabilities and accelerate the transfer of knowledge, tech, and talent.

Nguyen Thuy Hanh, CEO and head of Coverage at Standard Chartered Vietnam, at a signing ceremony for a $721 million international syndicated social loan, photo Standard Chartered Vietnam

At the same time, resilient domestic consumption, supported by a growing middle class and expanding retail sector, is emerging as a key driver alongside exports and investment.

Despite ongoing global uncertainties, Vietnam’s economy continues to demonstrate resilience, with GDP growth accelerating to 8.4 per cent on-year in the second quarter. Beyond strong manufacturing performance, growth is also supported by domestic consumption, investment inflows and ongoing economic transformation efforts.

While inflationary pressures and global uncertainties remain challenges to monitor, the latest data highlights the strength of Vietnam’s economic fundamentals and its ability to navigate a more complex external environment.

The continued expansion of Vietnam’s retail sector is also reinforcing the country’s growth outlook. Rising household incomes, changing consumer preferences and accelerating digital adoption are creating new opportunities across consumer goods, services, payments and financial solutions.

As financial needs become more sophisticated, demand for savings, investment and wealth management solutions is expected to grow alongside broader economic development. According to the OECD’s FDI Qualities Review 2026, companies are prioritising diversification, resilience and operational agility, creating new opportunities for Vietnam to move further up the value chain and attract higher-quality investment.

“Vietnam is entering a new era of growth characterised by stronger domestic demand, increasing investment in infrastructure and technology, and a growing focus on higher-value economic activities” said Nguyen Thuy Hanh, CEO and head of Coverage, Corporate and Investment Banking for Standard Chartered Vietnam. “These trends are creating new opportunities for businesses and investors while reinforcing Vietnam’s position as one of the region’s most dynamic growth markets.”

Vietnam’s long-term development ambitions are reshaping the investment landscape. Alongside efforts to strengthen key economic centres and modernise infrastructure, the country is placing greater emphasis on innovation, productivity, digital transformation, demonstrated by initiatives such as Ho Chi Minh City’s venture capital fund launched in late April and the development of a more sophisticated private sector.

At the same time, global investors continue to monitor Vietnam’s ongoing market reforms and capital market development. Continued progress in these areas is expected to further enhance market accessibility and support Vietnam’s attractiveness as a long-term investment destination.

Standard Chartered Vietnam believes that investors will focus on the country’s ability to strengthen productivity, accelerate digital transformation and support innovation-led growth. As businesses continue to invest in technology and operational resilience, these factors are expected to play an important role in sustaining long-term competitiveness.

“Vietnam’s opportunity today extends beyond its traditional strengths,” Hanh noted. “The next era of growth will be driven by innovation, connectivity, productivity improvements and the ability to attract high-quality investment that supports long-term economic transformation.”

Access to efficiency

As Vietnam pursues its long-term development ambitions, financing will play a critical role in translating opportunity into economic value. Significant capital will be needed across infrastructure, energy, innovation and supply chain development.

At the same time, the focus is shifting from the availability of capital to its effective deployment, with greater emphasis on productivity gains, operational resilience and sustainable returns.

For businesses, this means navigating a more complex operating environment with access to solutions that support international expansion, strengthen resilience, improve liquidity management and enable companies to respond more effectively to changing market conditions.

“Future competitiveness will depend not only on access to capital, but also on how effectively businesses leverage technology, manage risk and optimise liquidity across their operations. As companies pursue international expansion, they are seeking trusted partners that can help them access new markets, navigate complexity and accelerate long-term growth,” said Hanh.

This is particularly relevant as Vietnamese businesses continue expanding into international markets while global companies seek to strengthen their presence in Vietnam.

“Vietnam’s ability to attract and deploy capital effectively will depend on continued reforms and a supportive business environment. A transparent and predictable regulatory framework will be key to sustaining investor confidence and attracting long-term investment. At the same time, effective implementation of policies will be critical in enabling businesses and investors to turn opportunities into real economic value,” Hanh said.

The development of Vietnam’s International Financial Centre represents an opportunity to deepen the country’s connectivity with global capital flows, broaden funding channels and strengthen Vietnam’s position as an attractive destination for international investors.

“As investor expectations continue to evolve, transparency, governance and operational resilience are becoming integral to investment decisions, alongside traditional considerations,” she added.

Photo Standard Chartered Vietnam

Mainstream business strategy

Another defining feature of Vietnam’s next investment cycle is the growing integration of sustainability into business and investment decisions.

“Rather than being viewed solely through the lens of large-scale green projects, sustainability is becoming embedded in broader corporate strategies, risk management frameworks and supply chain requirements,” said Hanh.

“Beyond environmental objectives, sustainability is closely linked to business resilience, governance standards, supply chain expectations and access to international markets. As global investors and trading partners raise expectations, sustainability is becoming an important component of long-term business resilience and value creation.”

Many businesses are now seeking ways to balance growth ambitions with evolving stakeholder expectations around environmental and social impact.

“We are seeing awareness among corporates that sustainability is becoming an important component of long-term competitiveness and resilience. Businesses are exploring how sustainability considerations can be integrated into their operations, financing strategies and growth plans in ways that support both commercial and long-term objectives,” said Hanh.

Standard Chartered Vietnam has responded to these evolving needs through a range of solutions across sustainable finance, transaction banking, trade and treasury services. This includes supporting landmark sustainable financing transactions, such as MB Bank’s $500 million syndicated green loan and HDBank’s $721 million international syndicated social loan, alongside other participating banks.

According to the Sustainable Finance Impact Report 2025, Standard Chartered Vietnam recorded a 23.4 per cent increase compared to 2024 in green and social assets which resulted in 177,635 tonnes of CO2 emissions avoided in the last year, and 445 loans for small- and medium-sized enterprises.

As Vietnam’s capital needs evolve, the role of financial institutions is also changing. Beyond providing financing, banks are expected to play a broader role in facilitating connections between markets, investors and businesses, while helping clients navigate complexity and capture growth opportunities.

“At Standard Chartered, we see ourselves as a long-term partner in Vietnam’s growth journey,” said Hanh. “Our focus is on supporting clients through capital mobilisation, trade facilitation, cross-border connectivity and innovative financial solutions that help them seize opportunities both within Vietnam and across global markets.”

Vietnam’s next era of growth will be determined by how effectively that investment is transformed into innovation, productivity and long-term economic value.

“Achieving this will require strong collaboration between the public and private sectors, investors and businesses, supported by an enabling policy environment,” Hanh explained. “By combining our international network with deep local expertise, we are committed to helping clients strengthen resilience, unlock opportunities and contribute to Vietnam’s long-term economic transformation.”

Standard Chartered Vietnam appoints first Vietnamese CEO Standard Chartered Bank Vietnam announced the appointment of Nguyen Thuy Hanh, CEO and head of Banking and Coverage, effective October 1.

Standard Chartered committed to Vietnam’s financial success According to the International Monetary Fund’s World Economic Outlook Report in April this year, Vietnam is the only Southeast Asian representative in the top 10 countries with a forecast of 6.4 per cent growth from 2024 to 2029.

Fiscal measures to be based on upcoming US status The financial world continues to prepare for a new US administration next month. Standard Chartered Vietnam’s CEO and head of Banking & Coverage Nguyen Thuy Hanh explained to VIR’s Hong Dung the effects of a USD rally and gold price dynamics on economic growth.

Vietnam’s journey to sustainable growth and innovation With 30 years of banking and finance experience, Nguyen Thuy Hanh steps into her new role as Standard Chartered’s CEO for Vietnam, bringing her global expertise and deep local understanding to drive the country’s next chapter of sustainable growth and innovation.

Photo: DatVietVAC

The shares represent approximately 10 per cent of the enterprise's post-IPO equity, valuing the group at around $244.4 million.

Share allocations are scheduled to be completed on September 9, followed by a payment window running from September 10 to 17. The group plans to officially list its shares on the Ho Chi Minh City Stock Exchange (HSX) in October.

The transaction pulled in prominent international and domestic institutional investors alike, including Hong Kong-based Blue Pool Capital, an asset management firm linked to Alibaba co-founder and chairman Joseph Tsai.

Blue Pool, which has raised $1.4 billion for its inaugural private equity fund, joined Thailand’s BBL Asset Management and local firm Phoenix Holdings in subscribing to the offering.

Net proceeds from the share sale will be deployed to bolster capital at a subsidiary, execute financial restructuring, and settle outstanding bank debt.

Specifically, $21.48 million will be injected into DatViet VAC Media to support two subsidiaries, Dat Viet Media, and TKL, while $2.96 million will be injected into DatViet VAC Entertainment to enhance the production capacity of content units Vie Channel and Dong Tay Promotion.

The funding surge comes on the back of solid financial performance across the group's core divisions. In 2025, the organisation recorded net revenue of $128 million and a net profit of $15.16 million.

For the full year, the company targets $140 million in revenue and $16.8 million in net profit, placing the offering price at a forward price-to-earnings ratio of 13 to 14 times.

As of late June, total assets stood at nearly $87.6 million, of which cash and bank deposits accounted for $50.4 million, or 57 per cent. With short-term borrowings at $19.64 million and no long-term liabilities, the group plans to distribute a cash dividend of at least $0.10 per share in the fourth quarter (Q4) of this year.

DatVietVAC is transitioning towards a comprehensive intellectual property lifecycle model, extending the commercial vitality of successful content across multiple seasons, live concerts, artist management, and direct-to-consumer offerings.

The group currently commands a library of over 2,000 protected intellectual property assets alongside popular entertainment franchises such as Rap Viet, The Masked Singer, 2 Days 1 Night, and the Say Hi music series.

DatVietVAC’s programming line up for 2026. Photo: DatVietVAC

Across digital platforms including Facebook, TikTok, YouTube, and Threads, the firm reaches 270 million followers and generates 67 billion annual views.

Commercialisation of artists generated $22.4 million in revenue in 2025, with management aiming to scale this figure to $60 million by 2030 through an upcoming artist development joint venture slated for launch in Q4.

DatVietVAC intends to launch a dedicated direct-to-consumer interaction platform in Q4, aiming for direct consumer spending to contribute 20 to 30 per cent of total group revenue by 2030. Long-term financial objectives set out by the company target $200 million in revenue and $31.2 million in net profit by 2030.

DatVietVAC set for IPO to unlock growth capital DatVietVAC, the producer of Anh Trai Say Hi, has announced its market debut with an offering of 11.15 million shares at VND54,800 ($2.11) each.

Vietnam's securities sector leads new IPO wave Vietnam's stock market is ready to welcome a new wave of corporate initial public offerings (IPOs).

Ambitious profit goals and IPO wave signal confidence Listed Vietnamese companies are entering 2026 with ambitious growth plans, including sharply higher profit targets and a wave of IPOs, signalling growing confidence in both corporate earnings and stock market prospects

Deputy Prime Minister Nguyen Van Thang chairs the third meeting of VIFC’s Executive Council. Photo: Government Portal

Reporting at the meeting, Deputy Minister of Finance Nguyen Thi Bich Ngoc said that the institutional and organisational framework of VIFC has been largely established.

Ngoc noted that the International Financial Centre is organised in Ho Chi Minh City and Danang, with an Executive Council at the central level, two Operating Authorities in the two cities, and a common Supervisory Authority.

The two Operating Authorities have issued procedures for member registration and recognition, which have been implemented uniformly since August 17.

“A number of banks, securities companies, asset management organisations and investors have signed MoUs, certificates of commitment, or submitted applications,” she said.

According to the Ministry of Finance (MoF), VIFC's competitive positioning should be based on Vietnam's prevailing advantages in terms of economic scale and growth prospects, its position in production, trade and logistics chains; demand for medium- and long-term capital for infrastructure, energy and green transition, as well as vast room for development in capital markets, fund and asset management, and fintech.

“For the immediate term, the MoF proposes focusing on several key programmes, encompassing selecting a raft of energy, infrastructure, logistics and green-transition projects associated with partner banks and strategic investors; developing an ecosystem for international investment funds and asset management; and developing commodity markets linked to trade and supply chain financing,” Deputy Minister Ngoc said.

At the meeting, representatives of the Operating Authorities in Ho Chi Minh City and Danang reported on progress in completing operational conditions, attracting members and implementing specific products and projects.

The Ho Chi Minh City Operating Authority representative said the city had identified a shift from the development phase to ‘substantive operations’, focusing on four pillars: institutions, members, products and infrastructure.

“Ho Chi Minh City is also screening prospective members, with a focus not on expanding indiscriminately but on selecting organisations associated with specific products and actual projects in the economy.

Regarding products, the city is working with investors to mobilise capital for infrastructure projects, while preparing the groundwork for the issuance of international bonds and municipal bonds,” said the representative.

Meanwhile, the Danang Operating Authority representative said it was focusing on implementing a number of specific projects through VIFC.

The two Operating Authorities are also coordinating to finalise procedures, criteria for member selection and the necessary legal framework, based on the principle that VIFC is a unified entity while leveraging the strengths of each locality.

Concluding the meeting, Deputy Prime Minister Nguyen Van Thang stressed that building and putting VIFC into operation is an important task that must be carried out urgently, in a coordinated and substantive manner, ensuring a full legal foundation as well as management and supervisory mechanisms so that financial products and services can be rolled out safely and effectively at an early stage.

"The Operating Authorities in Ho Chi Minh City and Danang are now officially operational. Therefore, we should not wait until all conditions have been completed before taking action. Instead, institutional development must proceed in parallel with the selection of a number of products for which there is already supply and demand so that we can work and negotiate with investors," the DPM said.

DPM Thang also asked the two Operating Authorities to proactively work with investment funds and businesses. For products that are ready and meet all necessary conditions, proposals should be made for their immediate implementation.

Regarding the development of financial products, the DPM requested that the necessary policies for each product be clearly identified, along with the drafting agency, the authority competent to issue them and the implementation deadline, so that progress can be monitored.

At the same time, a feasible and effective inspection, examination and supervision mechanism should be developed without creating many additional administrative procedures.

Regarding IT infrastructure, the DPM tasked the Ho Chi Minh City Operating Authority with studying the hiring of consultants to develop the architectural design of VIFC’s IT platform.

VIFC set to raise the bar for Ho Chi Minh City’s office market Vietnam's International Financial Centre is expected to add substantial office space to Ho Chi Minh City's market while raising competitive standards across the sector.

Vietnam invites Swiss investors to join international financial centre Deputy Prime Minister Nguyen Van Thang has chaired a business dialogue in Zurich to promote Vietnam's investment opportunities in finance and high technology.

Dutch businesses upbeat about Vietnam's reforms and IFC ambitions Dutch businesses have expressed confidence in Vietnam's economic prospects, institutional reform agenda, and plans to develop an international financial centre, while signalling interest in expanding cooperation in finance, logistics, high technology, and the green transition.

VIFC investment conference focuses on unlocking capital flows Policies, legal frameworks, infrastructure, and global financial trends were among the key issues discussed at an investment promotion conference for Vietnam's International Financial Centre.

Photo: SC Vietnam

The wave in pickleball, or any other sport, is a very positive sign that people are becoming increasingly attentive to their health. However, at a deeper level, we do not see running as a short-lived trend that can easily be eclipsed by other sports.

Over the years, running in Vietnam has evolved from a phenomenon into a way of life, which is a regular habit embraced by millions. It is also highly inclusive and community-oriented: all you need is a pair of shoes to get started, regardless of age, gender, or social status.

The Standard Chartered Hanoi Marathon Heritage Race is part of the globally renowned Standard Chartered Marathon series, which has been held in more than 10 markets where we operate. When we brought the race to Vietnam, our objective was never to follow a short-term trend. We wanted to build an international-standard sporting platform that promotes the spirit of pushing beyond limits, perseverance, and the values of diversity and inclusion. Therefore, no matter how many new sports emerge, our commitment to running will remain consistent and enduring.

What are the biggest challenges in organising a major race in Hanoi, especially as the city undergoes urban infrastructure changes?

Organising an international-standard marathon for tens of thousands of runners in the heart of a historic capital such as Hanoi is never a simple undertaking.

The greatest challenge is balancing the runners’ race experience with the daily lives of residents. Hanoi has high traffic density and many narrow streets. At the same time, the city is upgrading infrastructure, redesigning traffic flows and overhauling key roads. These developments directly affect the design and finalisation of the race route.

A World Athletics-certified course requires accuracy down to the metre. If a road is unexpectedly scheduled for construction or subject to traffic-flow changes close to race day, the Organising Committee must immediately recalculate the entire plan, from route measurement to the placement of hydration and medical stations and traffic-control arrangements. In addition, securing permits and ensuring absolute safety and security for tens of thousands of people on open roads require a substantial investment of both time and manpower.

The Standard Chartered Hanoi Marathon Heritage Race 2026 launch ceremony. Photo: SC Vietnam

How has the Organising Committee overcome these challenges, and what new features will the 2026 race offer participants?

To address infrastructure challenges, the only solution is to be proactive and maintain close coordination. We work continuously with the relevant authorities, ministries and agencies well ahead of the event.

Some of the groundbreaking new features introduced this year include race shirts made from fabric fibres sourced from recycled materials, helping reduce plastic waste, promote responsible consumption and support Vietnam’s goal of achieving net-zero emissions by 2050.

Another highlight is the 2026 Enterprise Cup, which allows companies to form five-member teams, with a maximum of two teams per company, to compete in the 10km race based on their combined finishing time. The winning team will receive a four-day, three-night trip to Shanghai to participate in the Standard Chartered Shanghai 10KM Run, giving representatives of Vietnamese businesses an opportunity to compete internationally, experience one of the races in the Standard Chartered Marathon series and gain a deeper appreciation of the global connections Standard Chartered continues to foster through sport.

The event will also enhance its digital experience through the SC Word Race minigame, a TikTok filter challenge inspired by the 'Together, we run further' spirit of the Standard Chartered Hanoi Marathon 2026. Players can 'run' online in a digital environment while taking on a fun English-pronunciation challenge designed to test their agility, concentration and perseverance as they push beyond their limits.

In addition, we will introduce several creative, prise-based challenges on social media to provide running enthusiasts with more engaging experiences.

Standard Chartered Hanoi Heritage Marathon attracts a turnout of local and international runners. Photo: SC Vietnam

Standard Chartered Vietnam launches innovative Sustainable Deposit On May 5, Standard Chartered Bank (Vietnam) launched its Sustainable Deposit solution in Vietnam.

Standard Chartered sets out latest growth plan On May 19, Standard Chartered announced plans to invest ahead of long-term trends to maintain strong growth, boost productivity, further improve the quality of earnings, and maximise its competitive advantages.

Standard Chartered assess Vietnam's performance in first six months of 2026 Vietnam's GDP growth is estimated at 6.5 per cent in the first half of the year, with the economy entering a phase of normalisation amid global challenges, according to a Standard Chartered report.

• Asia's wealth is newer: Approximately 94 percent of wealth held by Asia's wealthiest families sits with first- or second-generation wealth holders, compared with roughly 85 percent in high-income economies outside Asia. The relative newness of wealth influences how wealth is held, the degree of family involvement in operating businesses, the availability of liquid assets, and the form philanthropy takes.
• Asian families retain tighter control of their businesses: Approximately 95 percent of Asian families maintain control of the businesses that generated their wealth, compared with roughly 68 percent outside Asia. Where wealth remains closely tied to an operating business, philanthropic decisions often sit alongside broader considerations such as government relationships, succession planning, and reputation.
• Families fund remarkably similar issues across regions: Education, health, and support for marginalised and vulnerable populations are among the top issues supported by wealthy families. In Asia, families are more likely to support elderly care, religion, and sports, while families from other regions more frequently fund science and technology initiatives, including those related to artificial intelligence.
• Few families publicly report outcomes from their giving: More than 80 percent of families in Asia publicly report outputs from their giving, such as schools built or teachers trained, compared with just 45 percent of high-income families outside Asia. However, outcome reporting, such as learning gains or graduation rates, remains uncommon across all groups.

1. Taking risks others cannot or will not: Families often have the autonomy to move from decision to deployment more readily than institutional or corporate funders. In Singapore, for example, the Lien Foundation made a decade-long push into early childhood development, a sector that few had championed when it began. Its sustained work alongside government and other stakeholders contributed to broader sector development over time.
2. Facilitating collective action: Families with trusted relationships across sectors can bring together stakeholders who might not otherwise gather, helping fragmented efforts to evolve into coordinated action. In 2024, the Jollibee Group Foundation, led by Tony and Grace Tan Caktiong, partnered with the Provincial Government of Basilan, the Zuellig Family Foundation, and the League of Corporate Foundations to expand its school feeding programme. Together, the partnership supports the delivery of nutritious meals to nearly 25,000 children in 250 schools.
3. Mobilising multiple types of capital: A family with authority across philanthropic and investment decisions may be able to move capital across different instruments with fewer external negotiations, board approvals, or fiduciary obligations to outside investors.

• https://www.bridgespan.org/insights/high-impact-family-philanthropy-what-makes-family-giving-distinctive
• https://www.bridgespan.org/insights/how-the-worlds-wealthiest-families-give

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

According to the statement on August 20, the recognition highlights the efforts of Ho Chi Minh City Department of Public Security in advancing sci-tech and innovation as well as improving the quality of public services. The initiative contributes to building a modern, professional, and efficient public administration.

The initiative is spearheaded by the Police Division for Administrative Management of Social Order (PC06) under Ho Chi Minh City Department of Public Security in coordination with the Department of Administrative Management of Social Order Police, and relevant agencies.

The model strengthens interaction and support between authorities, police forces, and residents at the grassroots level, creating an important foundation for building a modern, transparent, and people-centric e-government.

Colonel Ngo Xuan Tho, head of PC06 under Ho Chi Minh City Department of Public Security, said, “The Digital Citizen Station, with its wide range of utilities, represents a shift from administrative management to public service. Notably, the model places individuals and businesses at the centre.”

Photo courtesy of FPT Long Chau

The stations provide centralised, multifunctional digital devices free of charge within residential areas. The initiative enables residents to access services without discrimination or restrictions on eligible users.

The model offers numerous advantages, such as serving citizens around the clock; reducing the time, costs, and travel associated with administrative procedures; integrating multiple utilities into a single device; enhancing the citizen experience; alleviating the burden on administrative agencies; increasing the uptake of online public services; and effectively leveraging population data. The model is flexible, easy to deploy, highly practical, scalable, and suitable for implementation through socialised investment.

Initial implementation has delivered tangible results, meeting the requirements for developing digital government, the digital economy, and the digital society in the new era.

Built on Vietnam's national electronic identification and authentication platform, VNeID, the Digital Citizen Station provides a wide range of services to support residents’ daily lives. Its offerings have been expanded into six essential service groups, including public administration, security and safety, digital healthcare, essential community services, traffic fine lookup and payment, and finance and banking.

Thanks to the application of modern technology, these services can be processed at the stations quickly, safely, and securely. The system provides over 200 public administrative procedures, focusing on areas directly related to daily life, such as residence registration, electronic identification, citizen ID issuance, and certain civil status procedures.

Meanwhile, digital healthcare helps increase residents’ access to healthcare services. The stations are equipped with specialised medical devices that meet stringent standards. With a simple process, residents can receive health check-up free of charge covering various health indicators such as height, weight, body mass index, blood oxygen saturation, blood pressure, heart rate, body fat, and body water levels free of charge.

Meanwhile, they can also schedule vaccinations, consult doctors online, access digital pharmacy services, and have medications delivered free of charge.

High-quality, modern medical solutions have been implemented at the station with absolute data security. Long Chau pharmacy and vaccination system operates healthcare utilities at the stations thanks to its extensive network, modern technology platform meeting all information security standards, and a track record of trust among millions of citizens.

Photo courtesy of FPT Long Chau

A representative of Long Chau expressed the company’s honour in supporting Ho Chi Minh City Department of Public Security in bringing the initiative into life, contributing to the development of a public-private service ecosystem at the grassroots level and bringing digital services closer to people.

The partnership also reflects efforts to expand the healthcare network and improve access to advanced and safe healthcare services for everyone, contributing to a healthier Vietnam.

In May, the government approved the Project 06 programme for the 2026–2030 period. One of the key tasks is to study the deployment of Digital Citizen Stations at public locations, government offices, and service centres, with a view to replicate the model nationwide starting from 2027.

This provides an important foundation for further expanding the model and accelerating digital transformation and administrative reform from the grassroots level, while delivering digital services that support people’s daily lives.

There are currently eight Digital Citizen Stations across Ho Chi Minh City, located in Hoa Binh Ward, Tan Hung Ward, Binh Phu Ward, Nguyen Hue Pedestrian Street, Celadon City urban area, Vinhomes Ba Son, Diamond Island, and Cityland Park Hills. Relevant agencies plan to expand the model across the city and to other localities nationwide.

Digital Citizen Stations bring new health services A Digital Citizen Station has appeared on Nguyen Hue Pedestrian Street, Ho Chi Minh City, offering free digital healthcare services to residents and visitors.

Opella and Long Chau join forces to enhance digestive and bone health Opella, Long Chau Pharmacy and Vaccination Centre System are partnering to enhance awareness and health management practices in the country, while accelerating community-focused projects for digestive and bone health in 2026.

FPT Long Chau named top Vietnamese winner at Healthcare Asia Awards FPT Long Chau Pharma has been named the only Vietnamese recipient of the Health & Wellness Initiative of the Year award at the 2026 Healthcare Asia Pharma Awards.

According to the disclosure on September 2, TYM is one of the largest microfinance institutions operating in Vietnam with a geographical focus on the north and central regions of the country.

Targeting rural, female microentrepreneurs, TYM's vision is to provide financial services to low-income individuals. TYM provides unsecured loans and savings products to more than 228,000 customers through 23 branches and 51 transaction points.

Additionally, TYM provides free health checks, capacity building for its customers, scholarships and various other community activities.

FMO will provide a $10 million equivalent loan in VND with a tenor of five years. The funding supports TYM's growth, enhancing access to finance for microentrepreneurs in rural areas.

The project aims to improve access to finance for underserved borrowers who need credit assistance to support their income-generating activities.

Providing financial products to poor households, near-poor households, women from poor households, women from near-poor households, low-income women, low-income households, and microenterprises, primarily in rural areas, combined with non-financial services, enables TYM to make significant contributions to promoting financial inclusion and reducing inequalities, and aligns strongly with FMOs strategy.

This investment aims to support activities that contribute to gender lens investing and inclusive growth contributing to the United Nations Sustainable Development Goals.

Dutch bank FMO grants $15 million to Phuc Sinh The Dutch Entrepreneurial Development Bank (FMO) signed a funding contract worth $15 million with Phuc Sinh Corporation in Ho Chi Minh City on April 4.

SeABank secures $80m from Proparco and FMO for inclusive, green growth SeABank has received $80 million in funding from Proparco and FMO to expand support for SMEs, women-led businesses, and green finance initiatives.

HDBank joins forces with FMO to advance green finance Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has expanded its international sustainability agenda through a new cooperation agreement focused on advancing green finance.

GELEX’s headquarters at 27–29 Ly Thai To street. Photo courtesy of GELEX

LEED, developed by the US Green Building Council, assesses buildings across a range of areas, including energy efficiency, water use, materials and indoor environmental quality. Today, however, the conversation around green buildings is also about the people who use them: how can a building be both efficient to operate and a better place to work?

At 27–29 Ly Thai To street, that thinking starts with the location and design.

The building is in central Hanoi, just a few minutes’ walk from Hoan Kiem Lake, making it convenient for meetings with customers and partners, as well as the group’s day-to-day business activities. It also became GELEX’s new headquarters in 2026, at an important point in the group’s development.

Designed to Grade A office standards, the building combines an open layout with modern design and technology. The design is intended to make it easier for people to work flexibly, collaborate and stay connected across teams.

The workplace experience at 27–29 Ly Thai To. Photo: GELEX

It also reflects the changing role of the workplace. A modern workplace needs to be more than attractive and well-equipped. It should make everyday work easier, give people space to focus, create opportunities for interaction and simply be a comfortable place to spend the working day.

Green office projects and recent workplace research also point to the growing importance of flexibility, lighting, air quality, technology and opportunities for connection, alongside energy efficiency and environmental performance.

A workplace that is more than just a building

For GELEX, the workplace is about more than the physical environment.

Before 27–29 Ly Thai To, GELEX Tower at 52 Le Dai Hanh had already achieved LEED Platinum v4.1 certification for operations and maintenance. The tower has been optimised in areas including energy and water use, indoor air quality and the working environment, while also being developed to provide a better experience for its tenants.

Achieving LEED Gold certification at its new headquarters reflects GELEX’s focus on creating workplaces that are efficient and comfortable for the people who use them every day.

Developed to Grade A office standards, the building balances aesthetics, functionality, and efficiency. Photo: GELEX

But the workplace is only one part of what shapes an organisation. How people work together, how managers lead, the technology they use, how feedback is shared and opportunities to learn and develop all matter, too.

That is why GELEX is investing in its people alongside its workplaces, with development programmes for senior leaders, managers and the next generation of talent.

The workplace as foundation for growth

A good office does not automatically create a good organisation.

But the right workplace can make a real difference: a conversation that happens more easily, a team that connects more quickly, an employee who has the space to focus, or an idea that emerges from an ordinary interaction during the working day.

GELEX’s LEED Gold-certified workplace is part of its approach to creating a sustainable working environment. Photo: GELEX

Seen in this way, the value of a green building is not measured only when it receives its certification. It is also reflected in how the building is used and the value it creates throughout its lifetime.

For GELEX, 27–29 Ly Thai To street is therefore more than a LEED Gold-certified headquarters. It is part of the workplace GELEX is building for its people – helping them work more effectively, connect more easily and continue to grow, while creating a stronger foundation for the group’s next stage of development.

Gelex Infrastructure to expand land bank for growth Gelex Infrastructure JSC has announced a major expansion of prime land banks in Haiphong, Dong Nai, and potentially Ho Chi Minh City to complement core IP and construction material segments.

GELEX’s credit rating outlook upgraded to 'Positive' by VIS Rating GELEX Group JSC has once again been given a long-term issuer credit rating of A by Vietnam Investors Service Rating (VIS Rating), while its outlook has been upgraded from “Stable” to “Positive”.

Frasers Property and GELEX Infrastructure propose new joint venture Frasers Property and GELEX Infrastructure are expanding their partnership to pursue new real estate development opportunities in Vietnam, reflecting continued investor interest in the country’s property sector.

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

For more information, please visit www.ifastfinancial.com.hk or www.ifastcorp.com

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

]]> https://vir.com.vn/dusit-hotels-opens-268-room-dusit-princess-ipoh-on-1-october-160256.html Dusit International Tue, 08 Sep 2026 10:45:49 +0700 https://vir.com.vn/huafuli-opens-2800-square-foot-showroom-in-hong-kong-expansion-160250.html Building materials manufacturer HUAFULI secured fifty percent market growth before opening a 2 800 square foot retail space to expand operations into Hong Kong HONG KONG SAR – Media OutReach Newswire – 7 September 2026 – HUAFULI, a high-end decorative panel brand under the Shanghai Stock Exchange main board listed company "Dongguan Huali Industries Co., Ltd." (Stock Code: 603038.SH), has leveraged its 30 years of brand heritage and formidable R&D and supply chain strength to achieve a rapid growth of over 50% against recent market downturns! Backed by a robust brand history, HUAFULI served as a supporting furniture materials supplier for top-tier international events, including the 2008 Beijing Olympics, the 2010 Guangzhou Asian Games, and the 2011 Shenzhen Summer Universiade, earning national-level recognition for its quality.

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

]]> https://vir.com.vn/huafuli-opens-2800-square-foot-showroom-in-hong-kong-expansion-160250.html HUAFULI Tue, 08 Sep 2026 10:32:18 +0700 https://vir.com.vn/huawei-unveils-mate-xt-2-smartphone-with-logicfolding-tau-chip-160261.html Huawei launched the Mate XT 2 tri fold smartphone on 7 September featuring the LogicFolding Tau chip to mark its commercial market debut GUANGZHOU, CHINA – Media OutReach Newswire – 7 September 2026 – On September 7, Huawei officially unveiled the latest addition to its tri-fold lineup, the HUAWEI Mate XT 2 | ULTIMATE DESIGN. As the first smartphone to feature the LogicFolding Tau (τ) Chip, HUAWEI Mate XT 2 | ULTIMATE DESIGN marks the chip's official entry into mass commercialization.

The phone debuts with a wing-like tri-fold design, continuously pushing the boundaries of ultimate aesthetics, craftsmanship, and innovation. It is the first device powered by the Kirin 9050 Pro chip and introduces several industry-first features and experiences, including the Xuanwu Ultra-Durable Tri-Fold Architecture, Smart Shield Privacy Screen, True-to-Color Camera 3.0, and the HarmonyOS 7 large-screen experience. As the pioneer of tri-fold phones, this new generation once again redefines the extraordinary.

The new HUAWEI Mate XT 2 | ULTIMATE DESIGN features a wing-like tri-fold design that opens from both sides, offering a more intuitive unfolding experience. The design philosophy draws on Chinese aesthetics, with a cloud pattern on the back panel created using Brocade Cloud craftsmanship. It is available in three colors: Purple, White, and Black. The camera ring inherits the iconic Star Diamond Glow design, crafted from Yttrium Crystal and fired at 1,800°C. Combining gemstone design and cutting techniques, it undergoes eight steps of fine polishing to form 33 star diamond facets, delivering a dazzling gemstone-like luster.

The device features the Xuanwu Ultra-Durable Tri-Fold Architecture, which re-engineers the hinge and screen technology for layered protection from the inside out. It is the first tri-fold phone to support IP58/59 dust and water resistance. The cover screen, made of Xuanwu Kunlun Glass, resists daily scratches and impacts with ease. It also features anti-glare technology, ensuring clear visibility even under direct sunlight. The main screen uses a multi-layer composite ultra-tough structure, including a large UTG glass layer, aerospace-grade ultra-thin high-strength steel, and a carbon fiber support layer, providing robust impact resistance. The Advanced Precision Hinge System 2.0 employs a 5 curved arm structure and a synchronized linkage mechanism for even force distribution and reliable pressure resistance.

Ultimate Performance: Kirin Chipset, a Leap in Power

The HUAWEI Mate XT 2 | ULTIMATE DESIGN is the first to feature the Kirin 9050 Pro chip, delivering a dual leap in performance and energy efficiency. Through deep collaboration between hardware, software, chips, and cloud, overall device performance is improved by 42% compared to the previous generation. The LinxiCore CPU, combined with the Ultra-smooth HUAWEI Ark Engine, enables faster loading of large files and superior performance when running multiple apps or multitasking. The Maleoon GPU features doubled computing units and cache, significantly enhancing rendering performance. In gaming scenarios, it supports 50 MRPS hardware-level real-time ray tracing, delivering a more immersive and realistic experience. The HUAWEI Da Vinci Architecture NPU brings a leap in on-device AI computing power, supporting large models of various sizes. For the first time in the industry, it natively supports the Pangu 30B-A2B MoE LLM, enabling smart experiences such as on-device AI album management with Celia.

The innovative heat dissipation architecture distributes heat sources across three frames, working with ultra-large vapor chambers and highly thermally conductive graphene materials to efficiently conduct heat across axes. Intelligent collaboration of multiple communication systems and 32 distributed antennas ensures faster 5A connectivity. It supports Tiantong satellite communication and Beidou satellite messaging, ensuring connectivity anywhere in the world. The Mobile Security Processor, combined with an independent security chip, enables post-quantum cryptography algorithm detection and has passed EAL5+ CCRC security certification, providing dual protection for personal data and assets.

Ultimate Technology: A Masterpiece of Innovation for Peace of Mind

The industry's first foldable Smart Shield Privacy Screen is now available, marking the first time hardware-level privacy protection is achieved on a foldable device. It features an independent dual-pixel design, ensuring consistent screen resolution before and after activating Privacy mode, maintaining a clear front-facing view. With intelligent sensing capabilities, it provides smart reminders when entering airports or train stations. It also supports elegant activation of Privacy mode through methods such as double-tapping the cover screen or the Smart controls button.

The HUAWEI Mate XT 2 | ULTIMATE DESIGN is equipped with ECG analysis software and has obtained the NMPA Class II Medical Device Registration Certificate. Users can initiate an ECG measurement by holding the unfolded large screen with both hands. Celia intelligently interprets and analyzes the report, providing thoughtful care.

Ultimate Photography: True-to-Color Camera 3.0, Capturing Every Moment

The HUAWEI Mate XT 2 | ULTIMATE DESIGN undergoes a comprehensive upgrade from optical hardware to computing power. It is the first to feature the True-to-Color Camera 3.0, which effectively filters out infrared light interference, improving color reproduction by 95% compared to the previous generation. It also features an ultra-HDR main camera, ultra-wide aperture periscope telephoto camera, and Ultra-wide angle camera, delivering true-to-life colors, realistic portraits, and clear night shots, with excellent performance at both close and long distances. Video recording supports an ultra-high dynamic range of 18 EV, ensuring outstanding image quality in every frame.

XMAGE SmartCapture has been upgraded to intelligently recognize people, scenery, and food scenes, and supports AIGC real-time previews for clear composition and lighting recommendations. Its unique tri-fold form enables Desk-calendar mode shooting, making it easy to capture warm moments, whether for selfies or group photos.

Ultimate Experience: A Superior Large-Screen Experience

HUAWEI Mate XT 2 | ULTIMATE DESIGN is powered by the new HarmonyOS 7, redefining the large-screen interaction experience. The Live-Multitask capability supports three windows displayed in parallel, with adjustable window sizes and independent volume control. This large-screen experience covers core scenarios such as financial management, social entertainment, smart office, shopping comparison, and travel guides. Furthermore, it has been deeply adapted to leading industry apps, continuously driving innovation in the tri-fold large-screen ecosystem.

HUAWEI Mate XT 2 | ULTIMATE DESIGN starts at RMB 19,999 and will be available for purchase along with a stylus set, with official sales beginning at 10:08 on September 12^th.

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

]]> https://vir.com.vn/huawei-unveils-mate-xt-2-smartphone-with-logicfolding-tau-chip-160261.html Huawei Tue, 08 Sep 2026 10:23:31 +0700 https://vir.com.vn/vietnams-challenge-to-turn-market-reform-into-long-term-capital-159033.html According to Mickey Maini founder of Solstice Laboratory an independent research centre focused on markets geopolitics and finance following Vietnam s market upgrade the next challenge is to turn this upgrade into sustained capital inflows and deeper economic development Mickey Maini, founder of Solstice Laboratory. Prior to founding Solstice Laboratory, Mickey Maini spent two decades as a senior banker, chief executive and adjunct professor. He is the author of the Entropy Trap and writes The Solstice Letter.

You argued that Vietnam’s market upgrade was “a receipt, not a prize.” What do you mean?

Start with one unusual number. Foreign investors have sold about $3 billion worth of Vietnamese shares this year, while Vietnamese investors absorbed the selling and the index remained near record levels. The reason is that Vietnam did much of the work before receiving the reward.

For years, a barrier stood at the market’s border: foreign investors had to pre-fund the full value of a trade before buying a share. The rule was designed for safety, but it also kept some serious international capital on the sidelines. That barrier has gradually become a valve. Pre-funding requirements were removed in 2024, a new trading system was introduced in 2025, and failed trades could be handled through market mechanisms rather than simply being prevented.

Those changes allowed smaller risks to emerge and be priced. The September upgrade is therefore a receipt for work that has already been done. Vietnamese investors understood that progress before many foreign investors did.

What practical advice would you give Vietnamese managing wealth today?

The old rules are changing. The traditional 60 per cent stocks, 40 per cent bonds portfolio and the assumption that prices will always recover worked for decades because we lived within a relatively stable dollar-based financial system built around promises. That system is now changing shape.

You do not have to take my word for it. Watch the central banks. They have bought more than 1,000 tonnes of gold a year for three consecutive years. When the institutions at the centre of the system start buying insurance, investors should pay attention.

The new rules begin with identifying the source of stress before choosing an asset. Economics, geopolitics and technology now interact as a single chain. Own things that are scarce and needed, rather than assets whose value depends solely on continued growth. Respect volatility because it shows where the system is under pressure, and keep cash available for those moments.

Most importantly, measure wealth against real things, not only against paper money. Five principles have survived previous financial resets: real assets over financial claims, scarce assets over abundant ones, short-duration over long-duration exposure, distributed systems over concentrated ones, and liquid assets over illiquid ones.

Plan calmly and act when the signal is clear.

What advice would you give founders raising capital today?

First, understand that the investment story has changed. My decade was largely a consumption story: roughly 90 million people entering the modern economy. Today, capital is increasingly targeting technology and resources: chips, data centres, energy and minerals.

The bigger opportunity lies in bringing those two stories together: applying technology to agriculture, manufacturing and household consumption. Vietnam is one of the few countries that has all three ingredients: consumers, resources and engineers.

That leads to five rules. Pitch the combination of technology and the real economy, not the consumption story alone. Make your business verifiable. In 2011, we closed what was then the largest private-equity deal in Vietnam’s history, and the cheque came after two years of preparing to be thoroughly checked.

Own something that is difficult to replicate, whether that is a power contract, a long-term customer relationship or proprietary data. Take capital that raises your standards. And remember that the funds arriving after September will be new owners of Vietnam. Make your company the easiest first investment they ever make in the country.

Which major trends should Vietnamese businesses build towards over the next decade?

One rule comes first: the trend gets the headlines, but the bottleneck inside the trend gets the money. Businesses should therefore look for the queue rather than simply follow the story.

Four queues matter most for Vietnam. First is the rerouting of global production. Every factory moving to Vietnam needs to demonstrate to Western buyers where and how its products were made. Helping companies provide that traceability and verification is becoming a major business opportunity.

Second is the power grid. Factories locate where power infrastructure is available, while critical equipment can now take years to order. Vietnam is among the countries building power capacity ahead of demand, which is relatively rare. Companies that can shorten equipment and infrastructure bottlenecks could capture significant value over the next decade.

Third are minerals. The opportunity is increasingly in processing rather than simply extracting resources. Vietnam’s policy direction points toward processing more materials domestically and exporting higher-value products rather than raw rock.

Fourth is the market infrastructure created by the upgrade itself. As foreign capital enters Vietnam, investors will need custody, market data, English-language research and fund services. Gulf markets spent years building those layers after 2014. Vietnam is now entering that phase. The index brings the customers; businesses will need to provide the tools.

What makes you worried about Vietnam, and what keeps you optimistic?

My concern can be summed up in one word: pace. My optimism comes from a 40-year perspective.

Much of what remains on Vietnam’s market-development checklist is now visible. Ownership room, information flows and market infrastructure have been identified, published and, in many cases, scheduled by the Vietnamese authorities. A graduation certificate is also a job description: the challenge is to keep moving after the ceremony.

The long-term picture is encouraging. Vietnam had just two listed companies in 2000. Today it has more than 1,600, with the market’s value equivalent to roughly a year of national output. Doi moi began in 1986, and the market’s progress over the past 40 years has come through patient, incremental steps rather than a single leap.

I have watched Vietnam absorb shocks for 25 years, first as someone building businesses inside the country and now as someone measuring its systems from outside. I would not bet against that habit of adaptation.

Your book, The Entropy Trap, uses physics concepts to explain market breakdowns. How did leading a business shape your understanding of how systems fail?

They break at the weakest link, not at the average. An average can look healthy right up until the moment the system fails.

A company’s balance sheet can double in three months. A port cannot double its capacity that quickly. Neither can a cold chain or a trained workforce. Serving 90 million consumers taught me that the real constraint is usually something tangible, and that the most dangerous problems often sit at the edges of an operation rather than in the middle of a spreadsheet.

So I learned to walk the edges. Which supplier, licence, employee or machine could we not afford to lose? Write those down and you have the beginning of a real risk report.

Countries work in much the same way. That is why I now spend my time measuring the weakest links in entire systems. The method came from the factory floor.

What are the three things you watch in Vietnam from outside the country?

Three numbers, and all three are about motion rather than levels. First, does the new foreign capital stay? Money that turns over quickly can import global shocks; money that stays has more capacity to absorb them.

Second, watch credit against production. Every failed upgrade in history has had periods when lending moved faster than the underlying economy’s ability to produce. Vietnam currently has the relationship in the healthier direction: last quarter, producers grew profits about three times faster than lenders. That is one of the strongest signals a market can have during an upgrade. It will be important to protect that balance when cheaper money arrives.

Third, watch the pace of reform after the applause. Central clearing is due next year, while listed companies are expected to provide English-language reports by the end of this year. Both are part of Vietnam’s published roadmap.

Reforms undertaken for a review can fade. Reforms built into the system are much more likely to survive the celebration.

]]> https://vir.com.vn/vietnams-challenge-to-turn-market-reform-into-long-term-capital-159033.html Nguyen Huong Tue, 08 Sep 2026 09:16:13 +0700