Even among businesses that have been operating for more than five years and are classified as medium- or low-risk, more than 40 per cent have never accessed bank credit. In the trade sector, which has the largest concentration of SMEs, an estimated 70,000 low-risk businesses have yet to secure bank loans.

According to the State Bank of Vietnam (SBV), as of September 18, 19 commercial banks had registered to participate in the programme, with a total credit scale of around $16.28 billion. Loans under the programme carry interest rates at least 1 percentage point per year below the lending rates applied by each participating bank to loans of the same tenor.

“Credit remains one of the essential resources enabling businesses to maintain, recover, and expand their operations. Therefore, the banking sector has implemented a range of coordinated measures to facilitate SMEs’ access to capital,” said Nguyen Ngoc Canh, Deputy Governor of the SBV. “But we also need to acknowledge frankly that SMEs still face problems in accessing capital that need to be addressed. A bank may have funding available, but lending decisions still have to be based on its ability to assess risk and the borrower’s capacity to repay. Meanwhile, many SMEs face limitations in financial data, corporate governance, collateral or their ability to develop sufficiently convincing business plans. Therefore, if banks are simply asked to open the credit tap without changing how information is generated, shared, and used, the bottleneck may remain.”

In practice, however, SMEs still have to pass through multiple doors when seeking financing. Each bank has its own procedures, forms, assessment criteria, and documentation requirements, forcing businesses to prepare, supplement, and explain similar information repeatedly.

Nguyen Thanh Nghi, CEO of Thien Minh Rating (TMR), pointed to a broader issue behind this administrative burden: information asymmetry.

“Banks need to know whether a business can generate sufficient cash flow and repay its debt, but they do not always have access to sufficiently standardised, transparent, and reliable information to make that assessment quickly. Conversely, a business may have sound operations but still have to spend considerable time proving its financial strength to each individual bank,” he said. “When the due diligence process is prolonged, costs rise for both sides. For businesses, delayed access to capital can mean missing an order, a contract or an opportunity to expand production. Against this backdrop, TMR has proposed digitising and standardising corporate documentation, incorporating independent credit-rating results to create a digital passport.”

Photo: SBV

Nghi said the approach goes beyond simply replacing paper documents with electronic files, instead seeking to create a comprehensive and standardised information package supplemented by an independent assessment of a company’s creditworthiness. When working with banks, businesses could use this package rather than starting the process from scratch each time, while banks would gain an additional independent reference point in their risk assessments.

“If widely adopted, this could become a common language between businesses and capital providers, helping shorten the due diligence process and reduce transaction costs,” he said. “More broadly, the value of a digital passport lies not in the technology itself, but in the quality of the information behind it. TMR is focusing on three areas: helping businesses digitise their corporate profiles; advising them on standardising their documentation and financial management; and providing independent risk assessments to create an objective and transparent reference point for both businesses and banks.”

From a policy perspective, the TMR representative proposed that the SBV allow or encourage banks to pilot the use of digital corporate profiles combined with independent credit ratings when assessing credit applications.

Nghi also called on regulatory authorities, particularly the Ministry of Finance, to study mechanisms for managing and sharing data between credit institutions and licensed independent credit-rating agencies.

“Data connectivity, if implemented in accordance with regulations, could make credit assessments faster and more efficient,” he said. “But for the market to establish a new standard, the responsibility does not rest solely with banks or regulators. Businesses also need to rethink how they manage and provide information. A company with standardised financial records, reliable data and independently verified creditworthiness will have a stronger basis for demonstrating its capacity when seeking capital.”

SBV credit policy shift puts banks and developers in spotlight The State Bank of Vietnam's easing of capital rules and special credit treatment for strategic projects is expected to expand lending capacity, with banks, property developers and infrastructure companies emerging as the biggest beneficiaries.

SBV excludes tourism and resort loans from real estate credit growth The State Bank of Vietnam has issued Official Letter No.8509/NHNN-CSTT to 25 credit institutions, adjusting the calculation of certain loan balances when controlling real estate credit growth in 2026.

Announced on September 21, the company expects the Phase 1 production line to reach a maximum capacity of tens of millions of modules, generating approximately $30 million in annual production output based on current purchasing interest from potential customers across the United States, Japan, and Southeast Asia.

The facility is designed to support production of AMC Robotics' current robotics products and related core modules, with initial trial production expected to commence in early 2027.

The manufacturing investment is supported by strong tailwinds in the global warehouse automation market, estimated at $34.2 billion in 2026 and projected to grow at a compound annual growth rate of just under 14 per cent to reach $65.74 billion by 2031, according to Mordor Intelligence.

The Vietnam facility's management team is led by general manager Aron Wang, who brings more than 20 years of experience in electronics manufacturing, including chip-on-board, surface mount technology, and optical packaging at companies including Siemens and ASMPT. The company expects to grow its local team to approximately 20 to 25 employees by early 2027, recruiting primarily from Vietnam's electronics manufacturing and precision assembly talent pool.

AMC Robotics selected Vietnam for its established electronics supply chain, skilled manufacturing workforce, and proximity to key component suppliers. The facility will also diversify the company's manufacturing and supply chain footprint, supporting scalable production of its AI-powered robotics solutions.

"Our team is working closely with local partners and suppliers to bring the facility online on schedule," said Aron Wang, general manager of AMCV Co., Ltd. "We are building a local team with world-class manufacturing and quality capabilities, and we look forward to welcoming customers and partners to the site once trial production begins."

"The progress at our Bac Ninh facility reflects the meaningful steps we have taken to build a scalable manufacturing platform," said Sean Da, chairman and CEO of AMC Robotics. "With our management team in place and the buildout on track, we believe we are well-positioned to begin trial production in early 2027 and to meet the growing demand for our AI-powered robotics solutions in the warehouse automation market."

AMC Robotics establishes Vietnam subsidiary to support robotics manufacturing AMC Robotics Corporation, an AI-driven robotics solutions company, has announced the establishment of a Vietnamese subsidiary in Ho Chi Minh City.to support the manufacturing and production scale-up of its robotic dog, Kyro.

AMC Robotics signs lease agreement for manufacturing facility in Vietnam AMC Robotics Corporation, an AI-driven robotics solutions provider, on June 24 announced it has signed a lease agreement for a 6,150-square-metre manufacturing facility in Bac Ninh, which has been identified as a long-term hub for production and operations in Southeast Asia.

AMC Robotics targets $2.1 million warrant raise for Vietnam plant AMC Robotics Corporation, an AI-driven robotics solutions provider, announced on August 21 that it had entered into warrant inducement agreements with two investors for up to $2.1 million in gross proceeds.

The forum discussed two areas closely linked to the development of an international financial centre: the institutional and legal conditions for attracting international investors, and the market infrastructure needed to support green finance and carbon markets.

It also marked the signing of an MoU between the Executive Agency of VIFC-DN and ACCA, covering cooperation in finance and accounting, professional development, international experience-sharing, and access to international expert networks.

The agreement was signed by Ren Varma, head of ACCA Mainland Southeast Asia, and Le Son Phong, vice chairman of the Executive Agency of VIFC-DN.

ACCA and VIFC-DN sign an MoU to strengthen cooperation. Photo: ACCA Vietnam

The focus then moved to the conditions that shape investor confidence in international financial centres.

Kevin Iwanaga, senior advisor on Strategy and Coordination at the Executive Agency of VIFC-DN, said international financial centres are built on more than physical infrastructure and investment incentives. Trust, transparency, regulatory certainty, and institutional capacity are key considerations when investors decide where to establish a presence or commit capital over the longer term.

Those issues framed the first panel, “From Institutions to Capital Flows: Governance Framework and Legal Mechanisms to Attract International Investors”, which brought together Helen Brand, chief executive of ACCA, Truong Hanh Linh, deputy general director of KPMG Vietnam, Samir Safar-Aly, director and head of FinTech & Financial Services at PwC Legal Middle East, and Dr lawyer Nguyen Trung Nam, deputy director of the Vietnam Mediation Centre and founding lawyer of EPLegal.

The panel examined the role of international standards in attracting capital, the legal and governance foundations required by VIFC-DN, and the factors considered by international investors when choosing a financial centre. Financial crime, cyber threats, operational disruption, climate risks, and changing regulatory requirements were among the risk-management issues considered.

Regulatory certainty was discussed alongside the need to accommodate new financial activities and innovation. Effective implementation and enforcement were also highlighted as part of the institutional framework supporting investor confidence.

The discussion extended beyond regulation to the people and professional services required to support a financial centre. Finance, accounting, auditing, risk management, legal services, and fintech were among the areas covered in relation to professional capacity, alongside mechanisms for attracting international specialists and service providers.

Experience from established financial centres in Asia and the Middle East also featured in the discussion, particularly in considering how VIFC-DN can develop within a regional financial landscape where international investors have established alternatives.

The VIFC-ACCA Forum 2026 in Danang focuses on international capital and sustainable finance. Photo: ACCA Vietnam

The second panel shifted the focus to green capital and the market infrastructure required to support sustainable investment.

“Mobilising International Green Capital through VIFC: From Carbon Markets to Sustainable Investment Platforms” brought together Pham Nam Hung from the Ministry of Agriculture and Environment, Pham Thi Thanh Huyen of the International Finance Corporation, Chang Hung Chun of KPMG Vietnam, and Jeffrey Lee of Moody’s Ratings, with Iwanaga as moderator.

The availability and quality of nformation on environmental, social, and governance standards was among the key issues raised. Comparable data, independent verification and assurance, and mechanisms for monitoring performance were discussed in relation to how investors assess sustainable-finance opportunities.

The discussion also turned to Vietnam's emerging carbon market, including the policy and market infrastructure needed to support transparency, credibility, and compatibility with international expectations.

The integrity of carbon credits was considered alongside the development of common data standards, verification and assurance, credible assessments, and performance monitoring. These issues were discussed as part of the infrastructure needed to support sustainable and sustainability-linked finance.

Taken together, the two panels placed the development of VIFC-DN within a broader set of requirements, spanning regulation and governance on one side and financial-market infrastructure, professional capacity, and green-finance mechanisms on the other.

KPMG Vietnam and ACCA partner to support development of IFC KPMG in Vietnam and the Association of Chartered Certified Accountants have joined forces to support the development of Vietnam’s international financial centre.

Trust and transparency take centre stage at VIFC forum Policy predictability, the reliability of financial information, and a green standards framework aligned with international practices are emerging as key foundations for Vietnam’s International Financial Centre to build investor confidence and expand its ability to attract international capital flows.

The MoF delegation has held direct meetings with financial institutions and investors in the US. The investor engagement programme comes as a series of diplomatic activities in the US has delivered strong messages about Vietnam’s commitment to reform and deeper international integration.

Party General Secretary and State President To Lam stated Vietnam’s determination to accelerate reforms, improve its institutional framework, and create the most transparent and favourable investment environment possible for international financial institutions and investors.

The consistent direction from the Party and State leadership to boost economic interests and strengthen the country’s financial standing serves as a guiding principle for the MoF’s efforts to manage public finance and public debt.

The delegation held direct discussions with leading global institutional investors, including globally scaled asset management and hedge funds, as part of its programme in the US.

Representatives of the MoF provided an overview of Vietnam’s macroeconomic outlook and growth prospects, as well as the government’s strategy to diversify its capital mobilisation channels.

The delegation also engaged in dialogue with investors and gathered their assessments of the Vietnamese market, as well as their level of interest in debt instruments issued by the Vietnamese government.

Members of international investment community expressed appreciation for Vietnam’s macroeconomic stability and long-term development potential, while recognising the MoF’s efforts to improve transparency and strengthen information sharing.

Feedback from the roadshow will provide an important basis for the MoF to closely monitor developments in international capital markets and study options for securing cost-efficient funding for the government.

MoF delegation and leadership of Moody’s Sovereign Risk Group. Photo: Thanh Binh

The Vietnamese MoF delegation met with Elisa Parisi-Capone, vice president and senior analyst in Moody’s Sovereign Risk Group, in New York as part of its regular engagement with Moody’s under the sovereign credit rating assessment arrangement established in 2010.

In May, Moody’s announced the results of its sovereign credit rating assessment for Vietnam, maintaining the country’s rating at Ba2 while upgrading the outlook from “Stable” to “Positive”.

The result reflected Moody’s assessment of Vietnam’s long-term growth prospects, dynamic trade performance, ability to attract foreign investment, fiscal position supported by relatively low and stable government debt, strong debt-servicing capacity, and improvements in institutional quality and governance.

At the meeting, the delegation updated Moody’s on economic, financial, budgetary, and public debt developments, as well as institutional reform efforts and the government’s policy measures to maintain macroeconomic stability and pursue its target of double-digit economic growth.

Moody’s also shared experience from countries that have achieved investment-grade ratings, noting that Vietnam’s continued focus on institutional reform and management of risks in the banking sector and state-owned enterprise debt would contribute positively to the country’s sovereign credit rating upgrade path in the coming period.

Minister of Finance Ngo Van Tuan and senior executives of J.P. Morgan in the US. Photo: Thanh Binh

Alongside meetings with investors and credit rating agencies, Minister of Finance Ngo Van Tuan held an important bilateral meeting with senior executives of J.P. Morgan in the US. The two sides held extensive and substantive discussions on the potential for strategic cooperation in the future.

The roadshow is a regular strategic activity of the MoF aimed at maintaining and strengthening dialogue with the international financial community.

Vietnam congratulated as an emerging market Vietnam’s elevation to FTSE Russell’s Secondary Emerging Market marks a hard-earned recognition of the country’s economic progress and the growing maturity of its capital market.

Vietnam-US trade talks near final outcome Vietnam and the United States are nearing an outcome in reciprocal trade negotiations, as both sides deepen economic cooperation and work towards a more balanced trade relationship.

VinSpeed will be responsible for project development, track construction and civil works, whereas Siemens Mobility – a global leader in high-speed rail technology and solutions – will serve as the technology partner, providing advanced rail systems and the necessary technical expertise.

The Velaro Novo train model for deployment in Vietnam. Image courtesy of Siemens

Siemens Mobility will deliver 10 Velaro Novo trains for two rail lines, including the 121-km Hanoi-Quang Ninh line with four stations and the 54-km Ben Thanh-Can Gio line with two stations, together with communications and electrification.

Velaro Novo is Siemens Mobility’s next-generation distributed-power electric multiple unit, with speeds of up to 350 km/h.

Each 200-m-long train set comprises seven cars with 760 seats and is designed to optimise energy efficiency and passenger capacity.

With its wide body and ‘empty tube’ structural design, Velaro Novo offers at least 10 per cent more passenger capacity than previous generations, enhancing operational efficiency for operators.

The train sets will feature Automatic Train Operation (ATO) technology integrated with a European Train Control System (ETCS) Level 2 signalling platform, enabling automatic optimisation of train spacing while improving precision and energy efficiency through intelligent control of speed, acceleration and braking.

This will mark the world’s first deployment of ATO over ETCS in a national high-speed rail network, marking a new step towards a safer, more efficient and environmentally friendly future for the rail sector.

Pham Thieu Hoa, CEO of VinSpeed, said, “The signing of the contract with Siemens Mobility marks an important step in realising VinSpeed’s high-speed rail lines in Vietnam. The combination of VinSpeed’s project implementation capabilities with Siemens Mobility’s advanced rail technology and global experience will provide a foundation for bringing modern, efficient and sustainable operating solutions to the new rail lines, while laying the groundwork for the development of an integrated high-speed transport system in Vietnam.”

Michael Peter, CEO of Siemens Mobility, said, “Vietnam is entering an exciting new era of mobility, and we are proud to contribute to this transformation. With our Velaro Novo trains, which consume 30 per cent less energy than previous models and offers more than 10 per cent additional passenger capacity, combined with state-of-the-art ETCS Level 2 signalling and advanced electrification systems, we are providing Vietnam with a truly sustainable and efficient transport solution.”

VinSpeed was established with the mission to pioneer the development of high-speed rail and modern transport infrastructure projects in Vietnam, applying leading standards of technology, efficiency, and sustainability. It is aiming to become a driving force in the transformation of transport infrastructure, shaping the future of Vietnam’s rail industry in line with international benchmarks.

Siemens Mobility is a separately managed company of global tech giant Siemens AG. In fiscal year 2025, which ended on September 30, 2025, Siemens Mobility posted revenue of $14.2 billion and employed around 43,400 people worldwide.

Siemens Mobility finalises contract for 2,000km high-speed rail system in Egypt Siemens Mobility and its consortium partners Orascom Construction and The Arab Contractors have signed a contract with the Egyptian National Authority for Tunnels, a governmental authority under the jurisdiction of the Ministry of Transport of Egypt, to create the sixth-largest high-speed rail system in the world, according to a statement released by Siemens AG on May 28.

VinSpeed and Siemens strengthen cooperation for high-speed rail development VinSpeed ​​High-Speed ​​Railway Investment and Development JSC (a member of Vietnam's leading conglomerate Vingroup) and Siemens Mobility signed a deal on December 17 in Hanoi, launching a broad cooperation for high-speed rail in Vietnam.

How Siemens supports the green and digital transitions Anchored in the EU-Vietnam Comprehensive Strategic Partnership and Global Gateway, Siemens leverages its expertise in electrification, automation and digitalisation to support Vietnam’s greener, digital economy, CEO Pham Thai Lai told VIR’s Khoi Nguyen about how the company is partnering for impacts.

Siemens and Infineon advance with silicon carbide technology Infineon Technologies AG and Siemens AG are partnering to advance electrical protection and ensure reliable operations in data centres, production facilities and battery storage systems, according to a joint statement released on June 8.

Vietnamese Minister of Finance Ngo Van Tuan received three Country Programme Documents from the United Nations Development Programme, the United Nations Children’s Fund, and the United Nations Population Fund.

The handover ceremony took place in New York on the afternoon of September 22 on the sidelines of the 81^st session of the United Nations General Assembly. The event was witnessed by Party General Secretary and State President To Lam and UN Deputy Secretary-General Amina Mohammed.

The three programmes were approved by the executive boards of the respective organisations in September 2026.

The three country programmes have a combined expected resource envelope of approximately $221.2 million, including about $115.5 million for the UNDP programme, $85 million for UNICEF, and $20.7 million for UNFPA.

The documents were handed over by UNDP administrator Alexander De Croo, UNICEF executive director Catherine Russell, and UNFPA executive director Diene Keita.

The handover marked a positive outcome following preparations that began in late 2025 between Vietnam’s Ministry of Finance and its UN partners.

The Ministry of Finance, together with Vietnamese agencies, proposed development priorities and identified areas where support from UNDP, UNICEF, and UNFPA would be needed over the next five years.

Minister of Finance Ngo Van Tuan receives a document from UNICEF. Photo: VNA

The main contents of the three documents were endorsed by the Vietnamese prime minister in May 2026, allowing the three organisations to submit the programmes to their respective executive boards at the earliest opportunity during their September 2026 sessions.

The three country programme documents cover a range of development priorities. The UNDP programme focuses on inclusive human development, economic and digital transformation, climate change response and environmentally sustainable development, as well as public governance and the rule of law.

The UNICEF programme focuses on human development, child protection, governance for children, and strengthening resilience to climate change, natural disasters, and environmental risks. Meanwhile, the UNFPA programme prioritises population issues and ageing, gender equality, reproductive health, and the prevention of and response to gender-based violence.

Minister of Finance Ngo Van Tuan receives a document from UNFPA. Photo: VNA

The receipt of the three documents establishes an important framework for cooperation between Vietnam and the three UN development organisations. It is expected to help mobilise international resources, support the implementation of Vietnam’s development priorities and Sustainable Development Goals, and contribute to joint efforts for peace, stability, and sustainable development in the region and globally.

The Ministry of Finance will work to ensure that mobilised resources are effectively managed and used in line with Vietnam’s development priorities.

Promoting cooperation between the United Nations and Vietnam Deputy Minister of Finance Tran Quoc Phuong received Kanni Wignaraja, assistant secretary-general of the United Nations, on September 4 to discuss further cooperation.

UNIS Hanoi marks UN Day with 3,000-strong celebration The United Nations International School of Hanoi (UNIS Hanoi), one of only two UN-affiliated schools in the world, marked UN Day with a celebration reflecting peace, diversity, and partnerships.

Vietnam, UN strengthen cooperation in digital technology, AI Vietnam is stepping up cooperation with the United Nations in digital technology and AI as it seeks to develop practical and scalable innovation models.

The event in Ho Chi Minh City focused on professional standards, financial reporting, governance, sustainability, and access to international capital, while the Danang edition examined the legal framework, priority sectors, financial products, and investment opportunities at the centre.

The discussions came as VIFC-HCMC prepares to develop four strategic product and market segments: investment funds and asset management, international bond markets, fintech, and commodity derivatives. For both centres, the availability of professionals with international expertise will be an important part of that development.

The VIFC-ACCA Forum brought together experts in finance, law, and professional services. Photo: ACCA Vietnam

Around 300 delegates attended the Ho Chi Minh City forum, representing government regulatory bodies, financial institutions, investment funds, businesses, professional associations, and specialised service providers.

Helen Brand, chief executive of ACCA, placed regulatory alignment and talent development at the centre of Vietnam's immediate priorities.

“The recent steps taken by Vietnam have probably been among the most urgent priorities because parity provides confidence,” she said. "Technology and sustainability are similarly becoming embedded in the core competencies expected of finance and accounting professionals."

Brand said the two areas could no longer be treated as separate domains, with strong sustainability strategies and rigorous assurance standards increasingly important to long-term market confidence.

For Vietnam, this will require systematic knowledge transfer to local professionals rather than prolonged reliance on external expertise. Brand highlighted the openness of Vietnamese universities to innovation and international partnerships, including the integration of professional qualifications into academic programmes.

She also pointed to the country's strong entrepreneurial aspirations. ACCA research shows that 74 per cent of Gen Z and Alpha in Vietnam aspire to become entrepreneurs, compared with 50 per cent globally.

“This entrepreneurial spirit will be a powerful asset for the country's economic development,” Brand said.

For the IFC, she called for an ethical and technology-enabled professional ecosystem capable of supporting the wider financial infrastructure of the centre.

Alexandra Smith, British consul general in Ho Chi Minh City, put legal certainty at the heart of efforts to build an international financial centre, with common law offering a framework familiar to international businesses.

“Common law is one of the primary principles I would name, which underscores the importance of a strong legal system,” she said. "For businesses entering a new market, knowing what they can and cannot do is fundamental. Common law provides a familiar basis for contracts and is used by major international financial centres, including those operating within civil law jurisdictions."

For investors, this can reduce legal risk and make transactions more efficient and cost-effective, she added.

Talent is another essential pillar. Vietnam’s ambition to attract sustained finance will require international firms to establish local operations and employ professionals.

Smith highlighted the value of professionals who understand Vietnamese regulations and are fluent in international business practices. Government investment in professional skills and universities provides a strong foundation for developing such talent.

She also pointed to the role of professional qualifications in bridging local expertise with international practice. “Embedding professional qualifications through bodies like ACCA can help finance graduates apply their expertise effectively in a global professional environment,” she said.

International Financial Reporting Standards (IFRS) was another area addressed as Vietnam looks to strengthen the financial foundations of its international financial centre. Luong Thi Anh Tuyet, assurance partner at PwC Vietnam, said adoption could improve the transparency and comparability of financial information, supporting greater investor confidence.

“Adopting IFRS significantly enhances investor confidence by delivering high transparency and comparability,” she said.

The standards require companies to present financial information that more closely reflects economic reality, particularly in areas involving complex estimates, judgement, capital, and impairment, where local Generally Accepted Accounting Principles has more limited application. Standardised disclosures can also give investors a common financial language, making cross-border investment decisions more straightforward.

Against this context, Tuyet sees the IFC as an opportunity to develop practical experience in applying IFRS and build a centre of expertise for the wider economy.

“The IFC can serve as a pioneer and a centre of excellence for IFRS implementation,” she said. "Experience gained through the IFC could support wider adoption while helping develop a stronger pool of financial professionals nationwide. Maintaining consistent standards aligned with global frameworks will be important to building international confidence over the longer term."

On the sidelines of the forum, the Executive Authority of VIFC-HCMC and ACCA signed a new MoU covering workforce development, professional training, international knowledge-sharing, and capacity-building for the financial services ecosystem.

The agreement coincides with ACCA's 25^th anniversary in Vietnam. The organisation opened its representative office in Ho Chi Minh City in 2001 and now has more than 1,300 members and over 7,000 students nationwide.

The forum in Danang also witnessed the signing of an MoU between the Executive Agency of VIFC-Danang and ACCA, covering cooperation in finance and accounting, professional development, international experience-sharing, and access to international expert networks.

Kevin Iwanaga, senior advisor for Strategy and Coordination at the Executive Agency of VIFC-Danang, said investor confidence would depend on more than physical infrastructure and investment incentives, with trust, transparency, regulatory certainty, and institutional capacity also shaping decisions on where to establish a presence or commit capital.

“Investors need confidence that the rules are clear, institutions are reliable, and the market can support their activities over the long term. These factors are just as important as infrastructure and incentives,” Iwanaga said.

Discussions in Danang examined the legal and governance framework needed to attract international investors, with international standards, regulatory certainty, effective implementation, and enforcement among the issues raised.

Financial crime, cyber threats, operational disruption, climate risks, and changing regulatory requirements were considered alongside the professional capacity required across finance, accounting, auditing, risk management, legal services, and fintech.

The integrity of carbon credits, common data standards, credible assessments, and performance monitoring were also raised as important elements in developing transparent and credible sustainable finance markets.

Assoc. Prof. Nguyen Huu Huan Vice chairman, VIFC-HCMC Ho Chi Minh City’s ambition to become an international financial centre is increasingly tied to the quality of the market it can build around global capital. This means creating an environment in which international investors can assess opportunities with greater certainty and Vietnamese businesses can access longer-term sources of funding. A credible regulatory framework will be central to that process. Consistent application of clear rules, dependable sustainability reporting, and stronger governance can help reduce uncertainty for investors, particularly as Vietnamese projects seek to meet international investment requirements. Digital infrastructure and dispute resolution mechanisms will add another layer to the market’s ability to serve cross-border participants. Building that market also means developing people who can operate to international standards. The partnership between VIFC-HCMC and ACCA will support professional development through practical training and access to an international network, helping bridge the gap between domestic expertise and the requirements of global financial markets. The test for the centre will ultimately be how these elements work together in practice.

Ho Ky Minh Standing Vice Chairman, Danang People's Committee The competitiveness of an international financial centre depends on investor confidence in the legal framework, the transparency of the market, the quality of governance, and the ability of the financial centre to respond to investors’ practical needs. The legal framework can therefore be regarded as the most important invisible infrastructure of an international financial centre. The international financial centre in Danang is expected to focus on a range of areas, including fund and asset management, green finance and the carbon market, commodity exchanges, fintech, and innovative financial platforms and products. The development strategy extends beyond attracting individual businesses to the city. The longer-term objective is to gradually establish a broader financial ecosystem in which different market participants can operate and interact more effectively. Such an ecosystem would provide the supporting infrastructure needed for the development of a more diverse range of financial activities and services in Danang.

Vietnam’s finance professionals redefine career expectations Vietnam’s finance and accountancy workforce is increasingly driven by social purpose, entrepreneurial ambition, and demands for greater career flexibility, according to new research from the Association of Chartered Certified Accountants.

Future-ready finance talent supports growth goals The country’s finance profession is evolving as digitalisation and changing workforce expectations reshape their roles. Speaking with VIR’s Khanh Linh, Sharath Martin, senior policy and insights consultant at the Association of Chartered Certified Accountants, discusses how this is influencing talent development and employer strategies

ACCA marks 25 years in Vietnam Marking 25 years in Vietnam, ACCA is looking beyond a quarter-century of building the professional community to help shape the finance and accounting workforce needed for the country’s next phase of economic development.

The partnership, announced on September 22, brings together Fundiin’s technology and data capabilities with the digital financial infrastructure and resources of TNEX, part of the MSB ecosystem, to improve how customers discover, select, and use financial products.

The move comes as Vietnam’s digital finance market evolves beyond simply expanding access. Consumers increasingly expect financial services not only to be convenient and accessible, but also to reflect their individual needs, financial capacity, credit history, and circumstances.

This shift is creating a new challenge for financial service providers. A wider range of products does not necessarily translate into better choices for consumers, as products suited to one customer may not meet the needs or financial circumstances of another.

For digital finance providers, the competitive focus is therefore moving from making products available towards helping customers identify solutions that better match their needs, including in terms of costs, conditions, and user experience.

Founded in 2019, Fundiin has built and operated a buy-now-pay-later platform in Vietnam, developing capabilities in data, AI, predictive models, and customer assessment, alongside a network of consumers, merchants, banks, and financial institutions.

The fintech company is seeking to extend these capabilities beyond credit risk assessment towards a more profound understanding of customer needs and the suitability of different financial products.

This could allow the financial journey to become increasingly personalised, from product discovery and assessment to selection, usage, and management.

Nguyen Anh Cuong, CEO of Fundiin JSC, said the partnership represented an important step in the company's development of personalised digital finance.

“Our partnership with TNEX marks a major step in building personalised digital financial solutions and bringing financial services closer to customers’ real needs,” Cuong said.

The cooperation is expected to expand Fundiin’s ability to connect users with digital financial solutions while strengthening personalisation throughout the customer journey.

TNEX, meanwhile, has been developed as a digital financial platform using technology and data to simplify access to financial services. It has progressively strengthened its technology and data capabilities while expanding its ecosystem through partnerships with other providers.

Nguyen The Minh, CEO of TNEX, said cooperation with fintech platforms remained part of the company’s strategy to develop a broader digital financial ecosystem.

According to Minh, TNEX aims through such partnerships to strengthen its position in digital banking in Vietnam and internationally.

Under the partnership, TNEX will contribute its technology capabilities, digital finance expertise, and financial resources, complementing Fundiin’s technology platform, data capabilities, and customer and merchant network.

The combination is intended to broaden the range of financial solutions that can be matched with different customer needs while creating a more seamless, transparent, and personalised user experience.

More broadly, the partnership reflects a shift in Vietnam’s digital finance sector towards greater use of data and AI to improve product matching rather than focusing solely on digital distribution.

As financial products proliferate and consumers face more choices, the ability to understand individual requirements and connect customers with appropriate products could become an increasingly important part of competition among digital financial platforms.

After the adoption of the proposed resolutions, (i) the Company's authorized share capital is increased to US$4,000,000, divided into 2,000,000,000 shares comprising 250,000,000 Class A ordinary shares and 1,750,000,000 Class B ordinary shares, par value US$0.002 per share, and (ii) the sixth amended and restated memorandum and articles of association are adopted.

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In its public debut, Viva-Thera also reported functional vaccine results in rhesus macaques and progress in targeted gene delivery. The company is pursuing HIV prevention and cure through four modalities—vaccines, long-acting small molecules, gene therapy and cell therapy—with XtalPi providing computational design, predictive modeling and experimental automation across the portfolio.

MPER forms part of the membrane-fusion machinery that HIV uses to enter cells. Together with the adjacent transmembrane domain, it retains approximately 90% sequence identity across viral strains, making it an attractive target for broad-spectrum intervention. Its position against the viral membrane and changing conformation have made precise targeting a persistent challenge.

Building on founder and Chief Scientific Officer Dr. Qingshan Fu's extensive MPER research, Viva-Thera's team obtained the first atomic-resolution structure of the HIV-1 Env MPER–transmembrane domain–cytoplasmic tail (MPER-TMD-CT) region using solution nuclear magnetic resonance (NMR). The team then reconstituted MPER-TMD in membrane structures on nanoparticle surfaces, grounding screening in both the target's structure and its membrane environment.

Deploying generative AI from the outset, XtalPi navigated a chemical space of approximately 10 million compounds to quickly isolate five validated hits with desirable drug properties and strong antiviral activity. By continuously leveraging its generative models to engineer and optimize the leads, the partners drove the program to preclinical candidate (PCC) nomination in just seven months.

The AI-accelerated asset targets gp41-mediated membrane fusion at MPER, opening a path toward a broad-spectrum antiviral with a binding site distinct from those addressed by reverse-transcriptase, integrase, and protease inhibitors. Ultimately, the differentiated approach could broaden the range of effective HIV drug combinations and help restore treatment options for patients facing resistance to existing therapies.

The company's vaccine program draws on the same structural foundation. Its MPER immunogens elicited antibody levels in rhesus macaques approximately five times those of the conventional HIV immunogen comparator. Antisera retained substantial inhibition of HIV pseudovirus infection at a 1:1,000 dilution—functional evidence that the immune response could interfere with viral entry.

Viva-Thera's gene-therapy program addresses integrated HIV proviral DNA, which can persist despite antiviral treatment and cause rebound after treatment stops. The company is developing a non-replicating, HIV-derived vector to deliver CRISPR-Cas9 tools to CD4+ T cells. It has completed vector construction, cell-infection experiments and CD4+ T-cell introduction in humanized mice, and is preparing live-virus infection and treatment studies.

Drawing on its extensive track record in drug discovery, XtalPi equips Viva-Thera with an AI and automation platform that scales across multiple therapeutic modalities. Within this collaboration, XtalPi's AI engine actively drives small-molecule generative design, analyzes immunogen conformations and binding affinities, models gene-therapy dosing, and computationally optimizes in vivo immunotherapies. This computational heavy lifting is seamlessly integrated with XtalPi's robotic automation, enabling high-throughput testing and rapid, iterative refinement.

Viva-Thera drives the overarching biological strategy, deploying its structural insights, virological expertise, and targeted delivery systems to direct experimental validation and define the core clinical challenges. Empowered by these integrated capabilities, Viva-Thera is uniquely positioned to advance complementary vaccine, gene, and cell therapies in parallel—simultaneously pursuing broad-spectrum protection against infection and strategies to eradicate the viral reservoir.

"Our vision is to bring together the interventions needed to prevent HIV and ultimately cure it—from blocking infection to addressing the viral reservoir," said Dr. Qingshan Fu, Founder and Chief Scientific Officer of Viva-Thera. "XtalPi's AI and automation platform allows us to pursue that ambition across multiple therapeutic modalities, at a pace and breadth that would be difficult to achieve through conventional R&D. By combining our understanding of HIV biology with these capabilities, we can explore more possibilities in parallel and move promising discoveries toward medicines faster."

"AI's value in science must ultimately be measured by what it makes possible for people," said Dr. Shuhao Wen, Chairman of XtalPi. "Through investment, incubation and partnership, we are committed to giving exceptional scientists the capabilities to tackle difficult diseases where progress could change patients' lives. Viva-Thera embodies that ambition: deep scientific expertise directed at a challenge that has resisted decades of research. Our role is to help teams like this translate their discoveries into medicines that expand treatment options and bring lasting improvements in health within reach."

IRAP is an initiative that provides independent assessment of an organization's security controls against the Australian Government's Information Security Manual (ISM). It has become a mandate for cloud service providers and a critical requirement for companies pursuing government and municipal contracts in Australia, one of the most tightly regulated markets in the Asia-Pacific region. As more organizations expand into Australia, demand for IRAP has grown quickly, and A-LIGN customers have increasingly asked for support navigating the framework as part of their international growth.

"Australia has become one of the most important expansion markets for our customers, and IRAP is often the gate they have to get through to do business there," said Scott Price, CEO of A-LIGN. "This acquisition means we can accomplish our client's objectives under the same roof as their SOC 2 and ISO 27001 work, instead of sending them to a separate vendor for a framework that overlaps with audits we're already executing. It's a direct response to where our customers are growing, and we intend to grow with them."

The move builds on A-LIGN's continued global expansion and its strategy of broadening its portfolio to meet the evolving needs of a growing customer base. This is A-LIGN's second acquisition this month, following the announcement of Pathfynder by A-LIGN, an offensive security firm providing advanced penetration testing services. Earlier this year, the company opened a new office in London to support surging demand for AI and regulatory compliance services across Europe, the Middle East and Africa.

To learn more about A-LIGN's global offerings, visit https://www.a-lign.com/service/international-compliance-services.

To learn more, visit: https://www.a-lign.com.

One cloud-native platform, built entirely in-house, live at more than 100 airports and deployed in weeks rather than years. The company works with major hubs across Europe, the Middle East and the Americas, and with some of the world's most influential airport groups, including VINCI Airports and OMA Airports.

What Makes AirportLabs Different

Every product is built in-house, on one platform. AirportLabs has never acquired a product or assembled its suite from other companies' software. That means no seams between systems, no separate codebases, and no integration project standing between an airport and the data it already owns.

The same software runs at every size of airport. There is no lite edition and no legacy fork. The platform running Chicago O'Hare is the platform running a two-million-passenger regional airport, which is what makes it viable for groups operating airports of very different scale.

"Small airports need to run the same code as our largest customers. Not a lite edition, not a legacy fork," said Ligiu Uiorean, Director of AirportLabs. "Fair pricing is not a discount. It is an architectural outcome."

It is cloud-native from the first line of code. Not a migrated legacy product. That removes the on-site hardware and local servers that tie airport IT teams to maintenance rather than to strategy, and it is the reason deployments are measured in weeks.

Built for Airport Groups

Much of Asia's new capacity is being delivered by operators running portfolios of airports rather than single sites, and AirportLabs has repeatedly delivered at that scale. VINCI Airports, the world's leading private airport operator, runs AirportLabs software across its network, including a deployment at Nantes Atlantique Airport in France and at Guanacaste Airport in Costa Rica. Within the same group, AERODOM operates six airports in the Dominican Republic, and OMA Airports runs a 13-airport programme in Mexico.

Separately, Fraport Greece brought the Airport Community App onto all 14 of its regional airports in under four months, a network-wide rollout across an entire country's regional airport system.

For a group, the value is not in any single installation. It is in every airport in the portfolio working to the same standard, on the same data, visible from headquarters in real time.

Deployed in Weeks, Not Years

VisionAir FIDS went live at Chihuahua Airport in 40 days. The 14-airport Fraport Greece rollout was complete within months of contract. At Chicago O'Hare, SkyCore AODB and Allegra RMS replaced legacy infrastructure at one of the busiest airfields in the world in seven months.

Start With One System, or the Whole Platform

Few airports adopt an entire suite at once, and AirportLabs does not require them to. Most begin with one core system and add capability over time. The suite is built on three areas that stand alone or work together:

"Most of the features airports are paying to have built today already exist in our products. Ten years of R&D has gone into covering what a modern airport actually needs, and we keep investing, so our customers are buying capability, not funding its development." - Andrei Diminescu - Business Development Manager - AirportLabs

• SkyCore AODB — one source of truth for the entire airport, unifying every data stream and running on the airport's own rules.
• Allegra RMS — a dynamic resource management system for all airport resources like stands, gates, baggage belts, check-in counters. It is completely automated, with manual intervention by exception.
• VisionAir FIDS — the unified passenger communication platform, the main channel through which an airport reaches its passengers.
• AirportLabs Billing — aeronautical and commercial billing, fully automating core financial operations.
• GCAM — the effortless, total ground handling solution for airport operations.
• RealTime Airport — a monitoring and decision platform for airport operations control centres, giving teams a live picture of the next operational hours with alerts and actions routed to the right stakeholders.
• Airport Community App — The mobile hub for all airport teams to stay connected, resolve issues, and keep operations running smoothly 24/7.
• Laminar Queue Management — queue management built to optimise passenger flow.
• AirportLabs Data Router (ADR) — a scalable, redundant and fault-tolerant data integration and API platform for aviation.
• Pocket Flights — a digital travel assistant, always at passengers' fingertips.
• AirTalk — a secure web and mobile chat for operational coordination.

For all media and marketing enquiries, please contact the marketing team at marketing@airportlabs.com.

Website — https://www.airportlabs.com

Announced during Green Markets Day at New York Climate Week, the expansion marks GFF's shift from building market awareness and procurement readiness to facilitating greater corporate action and participation in SAF and SAF certificates (SAFc) transactions across Asia.

GFF welcomed the Center for Green Market Activation (GMA) and the Singapore Sustainable Aviation Fuel Company (SAFCo) to its Steering Committee (SteerCo), alongside founding SteerCo member GenZero. The expanded SteerCo combines investment, demand-aggregation, procurement and market-development expertise as GFF works to translate growing corporate interest in SAF into credible and scalable demand.

Building this demand is particularly important for aviation decarbonisation in Asia, where much of the sector's future growth is expected. SAF supply remains constrained by its premium over conventional jet fuel and production capacity that is still developing. Stronger and clearer demand signals can encourage investment in new supply and help lower the cost of SAF adoption.

SAFc can provide these demand signals at scale by enabling companies to support the use of SAF and claim the associated emission reductions towards their climate targets, even where direct access to physical SAF is limited or impossible. To support the development of a robust SAFc market in Asia-Pacific, GFF will work with industry, policymakers and standards bodies to establish a trusted framework for corporate engagement.

Frederick Teo, chief Executive Officer, GenZero, said: "Given the growth of aviation in the Asia-Pacific, the region has a critical role in decarbonising aviation globally. There is tremendous potential to develop technologies in SAF, source feedstock, build production capacity and drive adoption. Corporate ambition to address air travel emissions can direct financing into scaling SAF adoption through the purchase of SAF certificates. Green Fuel Forward aggregates corporate participation into credible, collective demand large enough to meaningfully support production growth across the region. The expertise that GMA and SAFCo bring in demand aggregation, procurement, and market development strengthens Green Fuel Forward's broad membership base to translate corporate readiness into concerted market action."

Kim Carnahan, chief Executive Officer, Center for Green Market Activation, said: "We know that book and claim and demand aggregation can drive new investment and grow the supply of high-integrity SAF. We are thrilled to be joining the Green Fuel Forward SteerCo to bring this model to Asia, ensure it complements existing global initiatives like the Sustainable Aviation Buyers Alliance, and steer it toward real-world contracting that scales SAF uptake in one of the fastest growing aviation markets in the world."

Seow Hui Tan, chief Executive Officer, SAFCo, said: "As Asia-Pacific's aviation sector continues to grow, the region has a unique opportunity to lead the next phase of sustainable aviation growth. Singapore's early leadership in advancing SAF policy demonstrates how practical regulations, trusted governance, and market-based mechanisms can accelerate SAF adoption while maintaining environmental integrity. Beyond supporting Singapore's national SAF ambitions, SAFCo's expertise, processes, systems, and market infrastructure being developed through the SAF policy can help lay the foundations for a credible and scalable voluntary SAF and SAF certificate market across Asia-Pacific. Through Green Fuel Forward, we look forward to working with partners to strengthen corporate participation, build market confidence, and accelerate the development of a trusted regional SAF ecosystem."

With added institutional expertise and a broader corporate buyer base, GFF is better positioned to help companies move from learning about SAFc to evaluating and participating in procurement opportunities. By aggregating demand and strengthening connections among buyers, market intermediaries and suppliers, GFF aims to create a stronger commercial foundation for SAF growth in Asia.

As GFF moves from capacity-building towards supporting more pragmatic action, WEF will hand over the secretariat function of the initiative to the SteerCo. WEF played an important role in the initiative's formative year, helping to shape the platform, convene stakeholders, build momentum, and strengthen the understanding of the SAF market.

Pedro Gomez, head, Industry Agenda, Member of the Executive Committee, World Economic Forum, said: "With GenZero and dozens of private sector companies, we launched Green Fuel Forward to spark interest in SAF in the Asia-Pacific region. One and a half years later, this collective effort has shown that the local SAF market is maturing fast, and more corporates are planning to take pragmatic action and invest in the sector. The World Economic Forum looks forward to seeing this momentum transform into credible demand as GenZero and the new SteerCo take over the strategic leadership of the campaign, bringing experience from transactions that can really scale the impact of Green Fuel Forward in the coming years."

New members broaden the alliance

Alongside the expanded SteerCo, GFF has recently welcomed Amazon, Bain & Company, and Temasek Trust as new members, broadening the group of companies seeking to accelerate the shift towards lower-carbon aviation. Temasek Trust also joins as a catalytic contributor, providing funding to offset procurement costs and help SAF adoption. GFF's total membership now stands at 48.

GFF's members span three key groups: companies with significant business-travel footprints; companies with substantial logistics and air-cargo operations; and international corporations looking to decarbonise their value chains in Asia.

Corporate interest in SAF is growing, but buyers continue to face practical barriers to procurement. Questions remain around how SAF certificate purchases can be reported under the Greenhouse Gas Protocol, while buyers may also have limited visibility of credible regional supply and lack dedicated in-house procurement capabilities.

Through GFF, participating companies can better understand the SAF market, explore credible procurement pathways, and stay updated on accounting and reporting for SAFc. Catalytic funding, including cost offsets and co-matching for select first-time buyers, can also help lower cost barriers and support early participation.

Sam Israelit, chief Sustainability Officer, Bain & Company, said: "Business travel is the largest share of Bain's carbon footprint, and sustainable aviation fuel is central to our science-based path to net zero. Having been among the first corporate buyers of SAF certificates through the Sustainable Aviation Buyers Alliance and the First Movers Coalition, joining Green Fuel Forward is a natural next step: it brings that commitment to Asia-Pacific, where aviation's growth - and the opportunity to decarbonise it - is greatest. We look forward to helping build the credible, aggregated demand that will catalyse new SAF supply across the region."

Ryan Tan, head, Planet Collaborative, Temasek Trust, said: "Aviation is a carbon-intensive sector that is an integral part of the carbon footprint of many companies, such as through business travel and value chains. This makes SAF certificates an important entry point for collective action. Through Green Fuel Forward, Temasek Trust is participating as both a member and catalytic funder to lower barriers for other companies and facilitate demand for SAF. This reflects our commitment to catalysing practical, scalable solutions for tangible climate impact."

For more information, visit https://genzero.co/initiatives/green-fuel-forward.

and www.genzero.co.

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• FREE BougeRV T1 Camping Light, valued at $84.99, for the first 50 backers

"An outdoor day should start with freedom, not struggle," said Kane, a BougeRV spokesperson. "Too often, getting to the beach, campsite, or park means dragging a fully loaded wagon through soft sand, rough ground, and long distances. DuneRover was born from a simple question: What if carrying everything you need could feel as easy as enjoying the destination?"

ENGINEERED AS A COMPLETE SYSTEM

Built with an automotive-grade V-model framework and structured integrated product development process, DuneRover was engineered from concept and system design through validation and production readiness with a focus on performance, reliability, safety, and user experience. Its modular UPP platform integrates the powertrain, drive system, and control architecture into one cohesive system.

POWER MEETS EFFORTLESS CONTROL

An 880W peak battery output powers two brushless geared motors delivering 66 N•m of combined torque, tuned for oversized beach wheels. Its 12 × 4-inch low-density PU foam drive wheels are 100% airless and flat-free, while a force-sensing control system translates every push or pull into smooth, stepless assistance.

For added freedom, users can undock the wireless remote from the handle and control the wagon from up to 328 feet away. Through the BougeRV App, users can monitor real-time status, control key functions, and customize dynamic ambient lighting.

BUILT FOR REAL OUTDOOR ADVENTURES

DuneRover offers up to 5 miles of range from its 24,000mAh (88.8Wh) battery, supports up to 100W smart solar charging through an MPPT regulator, and features IPX6 water resistance. With a 330-lb maximum load and more than 162 QT of capacity, its foldable frame can carry bulky gear while remaining easy to store. The detachable battery can also serve as a portable power bank for other devices.

AVAILABILITY

BougeRV DuneRover is available now on Kickstarter: https://www.kickstarter.com/projects/2008380622/bougerv-dunerover-all-new-electric-beach-wagon?ref=buqupd

The ceremony was attended by John Tsang Chun-wah, GBM, JP, Former Financial Secretary; Ms. Elizabeth Quat, SBS, JP, Legislative Council Member; Ng Chun-kei, Principal Environmental Protection Officer (Air Quality Policy), Environment and Ecology Bureau; Derek Chim, Head of Startup Ecosystem and Development, Hong Kong Science and Technology Parks Corporation; as well as representatives from the Electrical and Mechanical Services Department, power companies, bus companies, minibus and taxi operators, the electric vehicle industry, major property developers and property management companies.

I. News Core: 1MW Megawatt Flash Charging Lands in Hong Kong — The Oil-Electricity Parity Era Arrives

Over the past two decades, electric vehicles have undergone disruptive transformations in performance, charging speed and intelligent driving. A decade ago, EV range was only around 200 km, charging power capped at 60kW, and a full charge took over an hour. Today, Halo Energy and XPENG have launched the world's first X-Energy megawatt flash charging system at Tung Po's outdoor car park in urban Hong Kong, boosting charging power 16-fold from 60kW to 1000kW (1MW).

XPENG's latest models support 5C charging, adding 450 km of range in just 9 minutes — equivalent to 8.3 km per second — with peak charging power reaching 619.6kW, delivering a refuelling experience comparable to petrol vehicles.

The Tung Po station is the world's first X-Energy system introduced by Halo Energy to land in Hong Kong. Located at the outdoor car park of Tung Po, a project under Tung Wah Group of Hospitals, it features 4 charging bays, equipped with 1 x 1000kW liquid-cooled flash charger and 3 x up to 600kW ultra-fast chargers. The system supports simultaneous charging of four guns, with single-gun output power reaching up to 250kW depending on vehicle model — surpassing most existing charging facilities in Hong Kong. The station is compatible with all EV brands in Hong Kong and officially commenced operation today, open to all vehicle owners.

Automotive-Grade Safety Standards, Smart Charging Experience

The X-Energy energy storage battery adopts automotive-grade safety standards and LFP cells from the same source as XPENG smart electric vehicles, having passed bullet penetration, fire, extrusion and IP68 waterproof tests. The system features a smart liquid-cooling temperature control system with C4H corrosion resistance rating and IP54 protection, supporting 250V–1000V ultra-wide voltage output. On the smart technology front, the system supports OCPP 1.6J protocol, plug-and-charge, multiple payment methods, vehicle-to-grid (V2G) and battery health diagnostics, with deep compatibility with over 99% of public charging piles, providing vehicle owners with a seamless and convenient charging experience.

II. Homegrown Innovation Responds to Policy: Hong Kong Innovation Achieves 1MW, Breaking Through Grid Constraints to Empower Commercial Vehicles

Hong Kong Innovation Achieves 1MW, Responding to Commercial Vehicle Electrification Policy

The Hong Kong SAR Government's 2026 Policy Address explicitly sets out a high-speed charging pile backbone network and the introduction of flash charging technology to Hong Kong. As a homegrown innovation enterprise nurtured by Hong Kong Science Park, Halo Energy successfully completed the local validation of XPENG's X-Energy megawatt flash charging technology in Hong Kong — taking only four months from signing to opening — demonstrating the rapid replication and execution capabilities of Hong Kong innovation enterprises. This proves that Hong Kong need not look elsewhere: local innovation strength is sufficient to support the Government's EV popularisation policy targets, responding to policy with concrete action and accelerating EV adoption.

Breaking Through Grid Constraints: Energy Storage Buffering Technology Reshapes Ultra-Fast Charging Infrastructure

Traditional indoor car parks are constrained by ventilation, fire safety and space limitations, making it difficult to accommodate large commercial vehicle charging; outdoor environments have limited power conditions and struggle to provide high-power charging. The X-Energy megawatt flash charging station adopts an outdoor configuration with a large-capacity energy storage system, significantly lowering the grid threshold. The site requires only 120kW to 240kW AC input, buffered by the ESS400 energy storage system, to achieve up to 1040kW peak DC output — enabling megawatt-level flash charging even at sites with weak grid infrastructure. It can be flexibly deployed at outdoor car parks, roadside spaces and warehouses, accelerating the popularisation of electric minibuses and goods vehicles.

Five Years of Deep Cultivation: From 120kW to 1MW

Over the past five years, Halo Energy has built over 160 charging stations in Hong Kong, operating more than 1,600 charging guns, serving thousands of vehicle owners daily — including private cars, commercial vehicles, buses and goods vehicles. From the first 120kW fast charger to today's breakthrough past one megawatt, every charging station has been a "station-by-station" business, but we never gave up. We listened to customer needs, understood the bottlenecks and limitations of different scenarios, and continuously improved and adopted newer technologies. Over the past six months, we have seen more and more situations making it impossible for drivers and fleets to switch to electric vehicles. In response, Halo Energy and XPENG have launched the world's first X-Energy flash charging system, taking action to tell the market that all problems have solutions. As always, we work with our partners to build charging stations that meet safety regulations, fire safety requirements and construction protection to the highest standards, ensuring the safety of site staff, EV owners and pedestrians alike, setting the highest safety rules in the industry.

III. Hong Kong First, Global Validation: Super Connector Empowers Chinese Enterprises Going Global

Hong Kong as Super Connector: A Benchmark for Chinese Enterprises Going Global

In recent years, Hong Kong has become a base for Chinese enterprises going global, serving as the first stop for regulatory, testing and business model validation. XPENG's choice of Hong Kong as the launch city for its world's first X-Energy megawatt flash charging station is precisely a recognition of Hong Kong's unique value as a "super connector." Hong Kong adopts European-standard, with a certification system aligned with markets including the UK, Australia and New Zealand. If a charging technology can complete local validation in Hong Kong, it is equivalent to obtaining a "technology passport" to enter multiple markets.

Simon Tsang, Chief Executive Officer of Halo Energy, said: "Hong Kong adopts European-standard, with a certification system consistent with most overseas markets. If a charging technology can complete local validation in Hong Kong, it is equivalent to obtaining a 'technology passport' to enter multiple markets. As a Hong Kong homegrown innovation enterprise, Halo Energy is providing the most solid first-stop validation platform for Chinese new energy technologies going global."

This "Hong Kong First, Global Validation" model provides a replicable path to overseas markets for more Chinese new energy enterprises: using Hong Kong as a demonstration window to validate the feasibility of technologies in complex, high-density urban environments, before expanding to Asia-Pacific and global markets.

Hong Kong Innovation, Investment, Acceleration and Going Global Again

As a successful homegrown innovation enterprise at Hong Kong Science Park, Halo Energy has continuously attracted partners and investors. This project received support from Hong Kong Science Park and investment partners, successfully securing the global first-launch opportunity — proving that HALO's business model is recognised by the market and demonstrating the rapid replication and execution capabilities of a startup: signed with XPENG in late May, opened in September. Hong Kong Science Park will continue to help Hong Kong technology companies accelerate their growth, expand and go global.

Replicating Success Globally: Australia to Build the Southern Hemisphere's First X-Energy System

Halo Energy is a Hong Kong innovation enterprise, but has already successfully established battery charging networks overseas. In the future, we will accelerate our expansion with partners, including building the Southern Hemisphere's first X-Energy charging system in Australia with XPENG by the end of this year, replicating Hong Kong's successful experience globally and realising our vision of using Hong Kong as a bridgehead to go global together with different enterprises.

The EV industry is developing faster and faster. We will not rest on today's achievements. We will continue to build more flash charging stations in Hong Kong, while constructing super-large charging hubs — large charging stations dedicated to commercial vehicles — to solve the charging difficulties of drivers and large electric vehicles, enabling the true popularisation of commercial vehicles. We often work with partners because no single company can succeed alone in this industry. We must work together — those with capital contribute capital, those with land contribute land, those with strength contribute strength — joining hands to contribute to Hong Kong's green future.

With Xpedite Remit, clients benefit from principal protection, end-to-end traceability, and faster payouts – either in the same currency or via seamless FX conversion – across more markets worldwide. The new capabilities will provide access to local bank accounts and mobile wallets via real-time, 24/7 payment networks, all from a single account and connectivity. The solution will enable clients to access 12 billion mobile wallets and bank accounts across more than 100+ corridors provided by Thunes' Network.

Gayathri Vasudev, Global Head of High Value Payments & FX at J.P. Morgan Payments, said: "Our clients want simpler, faster ways to move money across borders and to reach people through the payment methods they prefer. That's why we are continuing to enhance our cross-border capabilities and further expanding our solution through the collaboration with Thunes. Building on milestones, like our recent progress with Swift's retail payments scheme, we're helping clients grow in new markets while delivering the faster, more seamless experiences they have come to expect."

As digital payments continue to grow globally, local payment methods are increasingly the preferred way for consumers and businesses to send and receive money. For organizations operating in multiple markets, keeping up with those preferences can quickly add complexity.

Peter De Caluwe, Co-Founder and CEO of Thunes, said: "We are thrilled to welcome J.P. Morgan Payments to our Direct Global Network. Thunes offers the bank-grade compliance, security and resilience required to move money safely and quickly at global scale. Together, we are demonstrating how traditional banking infrastructure can connect with popular local payment methods to make global commerce smoother for everyone involved." 

The Consumer and Community Bank at JPMorganChase will also benefit from the expanded cross-border capabilities. For Chase accounts, which serve approximately 94 million consumer and small business customers, the enhanced payment rails are expected to enable faster payout experiences and support real-time inbound payments into the U.S. 

Ashish Ajmera, Head of Banking Payments at Chase, said: "As customers increasingly move money across borders as part of their everyday lives, they expect the experience to be fast, intuitive and reliable. These enhancements mark an important step in our efforts to modernize cross-border payments and expand the capabilities available through our broader suite of products and services, helping customers send money internationally with greater speed, transparency and confidence."

The initial rollout supports a range of payments use cases — including instant supplier settlements, bill payments, and remittances — and will be available globally, including key markets with significant cross-border remittance flows such as India, Mexico, Bangladesh, Brazil, China, Colombia, Indonesia, Kenya, Nigeria, Pakistan and the Philippines.

To find out more, visit the news article on the J.P. Morgan Payments Newsroom: https://www.jpmorgan.com/payments/newsroom/cross-border-payments-thunes-expansion

For more information visit Thunes: https://www.thunes.com/

The transaction supports Shell's efforts to actively shape its portfolio to ensure a resilient and increasingly competitive Upstream business.

Forward-Looking statements
This press release contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions, including (without limitation) those concerning Shell's strategy and operating plans, macroeconomic conditions, future energy demand, supply and product mix, commodity prices, demand for Shell's products, production results and reserve estimates, development, execution and management of projects, energy transition and climate change, management of safety and environmental risks, costs, cash capital expenditures, technology advancements, legislative, judicial, fiscal and regulatory developments, regional conflicts and trading conditions, and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management's expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as "aim"; "ambition"; ''anticipate''; "aspire", "aspiration", ''believe''; "commit"; "commitment"; ''could''; "desire"; ''estimate''; ''expect''; ''goals''; ''intend''; ''may''; "milestones"; ''objectives''; ''outlook''; ''plan''; ''probably''; ''project''; ''risks''; "schedule"; ''seek''; ''should''; ''target''; "vision"; ''will''; "would" and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this press release, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell's products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks, including climate change; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including tariffs and regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy or IT incident; (n) the pace of the energy transition; and (o) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc's Form 20-F for the year ended December 31, 2025 (available at www.shell.com/investors/news-and-filings/sec-filings.html and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this press release and should be considered by the reader. Each forward-looking statement speaks only as of the date of this press release, September 22, 2026. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this press release.

Shell's net carbon intensity and net-zero emissions target
In this press release we may refer to Shell's "net carbon intensity" (NCI), which includes Shell's carbon emissions from the production of our energy products, our suppliers' carbon emissions in supplying energy for that production and our customers' carbon emissions associated with their use of the energy products we sell. Shell's NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell's "net carbon intensity" or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

Shell's operating plan and outlook are forecasted for a three-year period and ten-year period, respectively, and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next three and ten years. Accordingly, the outlook reflects our combined Scope 1 and 2 target, NCI target and our oil products ambition over the next ten years. However, Shell's operating plan and outlook cannot reflect our 2050 net-zero emissions target, as this target is outside our planning period. Such future operating plans and outlooks could include changes to our portfolio, efficiency improvements and the use of carbon capture and storage and carbon credits. In the future, as society moves towards net-zero emissions, we expect Shell's operating plans and outlooks to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.

The information provided above regarding Shell's NCI and net zero emissions target are not intended, nor should they be construed as introducing, suggesting or making any claim, target or representation thereof other than what is included in the press release.

Forward-Looking non-GAAP measures
This press release may contain certain forward-looking non-GAAP measures such as free cash flow and underlying operating expenses. We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc's consolidated financial statements. These forward-looking non-GAAP measures are provided to assist readers in understanding management's use and expectations of such measures and may not be appropriate for other purposes.

The contents of websites referred to in this press release do not form part of this press release.

We may have used certain terms, such as resources, in this press release that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.

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

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

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

Suan Dusit Arun, the 11,200 sq m public rooftop park at Dusit Central Park in the heart of Bangkok, has welcomed more than 951,000 visitors since opening on 3 September 2025.

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

For more information, please visit dusitcentralpark.com/roofpark

and dusit-international.com

The Level 36 lobby at Fraser Suites Reserve Bangkok. (Rendering)

Building on Frasers Hospitality's longstanding expertise and established track record in extended stays, Fraser Suites Reserve addresses a distinct segment at the luxury end of the market. Its introduction further sharpens the company's portfolio of clearly differentiated brands.

"Fraser Suites Reserve represents the next strategic step in strengthening our portfolio," said Eu Chin Fen, Chief Executive Officer, Frasers Hospitality. "It draws on our experience in long stays, while responding to the evolving expectations of an increasingly sophisticated segment of travellers accustomed to the world's finest hospitality."

Time for what matters

Fraser Suites Reserve is anchored in the belief that time is the ultimate luxury for today's global professionals. Each property brings together refined design, intuitive service, curated wellness and lifestyle experiences intended to make life away from home easier, leaving guests free to focus on what matters most, whether their work, wellbeing, relationships or personal pursuits.

Designed as private sanctuaries within the city, its rooms are designed to offer privacy and calm. Many feature integrated kitchenettes, allowing guests to maintain familiar routines of home while away, an independence that becomes particularly valuable during longer stays. The experience is complemented by the discreet yet highly personalised service of luxury hospitality.

A guest room at Fraser Suites Reserve Bangkok, with views across the Bangkok skyline. (Rendering)

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

• Showcase: The exhibition will serve as a commercial hub for the global Halal economy, connecting international suppliers, trade buyers and industry leaders. Its sector clusters include food and beverages, Halal ingredients, cosmetics and personal care, pharmaceuticals, modest fashion, Halal logistics and Islamic finance, providing businesses with opportunities to introduce products and expand into new markets.
• International Sourcing Programme (INSP): MIHAS' flagship business-matching programme is expected to facilitate 4,000 meetings between 450 international buyers, including 50 premium buyers, with around 600 Malaysian exporters. The programme is expected to contribute significantly to MIHAS 2026's overall trade target.

• Knowledge Hub: Established in 2021, the MIHAS Knowledge Hub serves as a strategic platform equipping Malaysian exporters, particularly micro, small, and medium enterprises (MSMEs), with vital trade intelligence to navigate the global marketplace. Operates as a year-round resource leveraging AI-driven content and digital programming via the MIHAS Portal, YouTube, and the MADANI Digital Trade Platform (MDTP) to deliver continuous market insights beyond the four-day exhibition. Its flagship Power Talk 2026, themed "The Next Wave of the Halal Trade", features leaders from DHL Malaysia, UOB Malaysia, and Farm Fresh Berhad sharing actionable strategies on supply chain resilience and international competitiveness amid global trade uncertainties. Additionally, the platform delivers continuous learning through its Prelude and Meet the Experts webinars, alongside new dedicated spaces like the WiEX Forum and MIHAS Corner (formerly Pocket Talks) focused on emerging trends, market-entry strategies, and global expansion.
• Women in Export (WiEX): Formerly a standalone forum, WiEX has expanded into a dedicated pavilion featuring 80 booths inspired by women entrepreneurs in the Halal industry, comprising 60 Malaysian and 20 international exhibitors. The programme will also recognise women-led businesses through a special awards ceremony, alongside a fireside chat with the founder of NOIR and a panel session with industry leaders. NOIR is also the sponsor of the WiEX Pavilion.

• MIHAS Awards: The MIHAS Awards are a signature programme that recognises exceptional companies shaping the future of the global halal industry through excellence, innovation, sustainability, and digital transformation. Presented across three core categories: the Excellence Awards; the Innovation, Sustainability and Digitalisation Awards; and for the first time, the Women in Export Awards, the programme promotes greater inclusivity by spotlighting outstanding women-led businesses and their contributions to the growth and internationalisation of the halal economy.
• Hosted Buyer Programme: The programme will connect international MIHAS exhibitors with Malaysian importers, distributors and retailers, helping them enter the Malaysian market and use Malaysia as a hub for regional expansion.

Other attractions include daily runway presentations showcasing modest-fashion trends and live culinary demonstrations at the MIHAS Kitchen. Notably, the MIHAS Kitchen has expanded to two floors and will host live cooking sessions by 32 top chefs, a significant increase from 15 last year, across four days.

MIHAS 2026 kicks off on 23 September 2026 and will run until 26 September 2026. Register as a visitor through the MIHAS 2026 website at https://register.mihas.com.my/visitor/register and start planning your MIHAS 2026 agenda today!

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

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

• Strongest Portfolio Outperformance: APAC family offices reported the highest levels of portfolio outperformance, with 26% achieving returns above 15% year-to-date. They also demonstrated the most ambitious return objectives, with 22% targeting annual returns exceeding 15%, nearly double the global average. This seems to be in part driven by the overall strong performance of public equity markets in the region this year, with the Nikkei 225 up approximately 30% through mid-June.

• Active Management Leads the Response: APAC family offices were the most proactive globally in responding to market volatility, with 62% adopting active management and 49% implementing hedging strategies, significantly above global averages. The findings suggest a greater sophistication in risk management. Rather than viewing risk management as a defensive exercise, family offices increasingly approach it actively, as tactical portfolio adjustments rather than significant strategic repositioning.

• Direct Investing Remains a Core Strength: APAC posted the highest direct-investing participation rate globally at 79%. Family offices in APAC also demonstrated the strongest preference for internal teams as the leading source of direct investment opportunities (77%), suggesting a high degree of investment professionalization and institutional sourcing capabilities.

• AI Dominates New Investment Themes: Artificial intelligence (AI) has become the standout direct investment opportunity for APAC family offices, with 80% identifying AI as a primary sector focus, the highest of any region, complemented by strong interest in healthcare, robotics and software opportunities. APAC family offices also demonstrated the highest overall comfort with digital assets, with half of them reporting no significant barriers to digital asset adoption.

• Top Concerns: Stability of the global financial system (53%) and market volatility (52%) emerged as the top concerns for APAC family offices, with both cited at significantly higher levels than in other regions. This heightened sensitivity may be due in part to the oil blockade in the Strait of Hormuz, as 85% of oil destined for Asian markets travels through this channel.

"The 2026 survey findings point to a maturing family office landscape in Asia Pacific, characterized by entrepreneurial thinking, institutional-quality investment practices and a strong appetite for global connectivity," says Bernard Wai, Head of Asia for Integrated Client Solutions and Global Family Office, Citi Wealth. "Family offices across Asia Pacific have evolved to become increasingly sophisticated, requiring the talent, setup and governance for a sovereign wealth fund ("SWF")-like investment mindset. Whether it is expanding into direct investing programs, leveraging AI interfaces, or executing cross-border tax-aware transactions, family offices here are taking a more holistic approach to wealth stewardship. Citi Wealth is committed to supporting all of this, with our OneCiti offering."

Globally,key themes that emerged from this year's survey include:

• Strong Performance in the Face of Rising Uncertainty: Despite shifting macroeconomic indicators and geopolitical concerns, nearly 90% of respondents reported positive portfolio performance year-to-date, while 41% continue to target annual returns of 7% to 10%. Clients are optimistic but not complacent as moderate expectations for returns coexist with concerns around inflation, interest rates and financial stability. Long-term discipline remains a crucial competitive advantage.

• Managing Risk Without Abandoning Opportunity: Recent geopolitical developments tested portfolios but did not trigger widespread retrenchment. Family offices avoided wholesale portfolio repositioning, opting instead for active management, hedging strategies and targeted adjustments. More than 40% of respondents made no major changes, while others remained laser-focused on improving portfolio resilience without compromising their strategic objectives. With a growing sophistication in risk management, family offices are embracing an active capability that allows them to stay invested during periods of uncertainty.

• Public Equities Return to Leadership: Public markets have regained momentum as investors seek a combination of growth, liquidity and flexibility. Nearly half of respondents increased their public equity exposure during the year, making it the top destination for new capital. Global developed equities ranked as the most favored asset class for future net allocations. Portfolio allocations overall remained well diversified, with many family offices maintaining positions in private equity, fixed income, and cash. In an environment where returns are increasingly driven by fundamentals rather than valuation expansion, quality matters more than ever.

• Private Markets Remain Central to Growth: Private markets remain a strategic pillar of family office portfolios with private equity attracting significant capital, direct investing continuing to increase and growth-stage opportunities generating strong interest. However, family offices are becoming more selective with a greater emphasis on sourcing, expertise and differentiated access. Connectivity has emerged as a competitive advantage.

• AI Shifts from Experimentation to Implementation: Family offices are deploying AI across investment analysis, information management, reporting, workflow automation and decision support processes. With an emphasis on productivity rather than alpha generation, they report benefits such as faster information processing, improved efficiency and enhanced due diligence capabilities. Family offices are prioritizing productivity before using AI to drive investment returns, and ensuring final decisions are still made by experienced humans.

• Rising Globalization Brings Heightened Complexity: Family wealth is increasingly international, with 38% of respondents expecting family globalization to rise in the next five years. With many respondents reporting assets, businesses and family members located across multiple jurisdictions, tax coordination, asset structuring, regulatory compliance and cross-border planning are becoming larger responsibilities for family offices. Building cross-border expertise will be essential as rising global complexity becomes a foundational aspect of family wealth.

• Succession Emerges as an Immediate Priority: Approximately one-third of respondents anticipate leadership transitions in their family, family office, or family business within the next five years. Yet respondents cite unclear succession plans, insufficient readiness among future leaders and lack of alignment around future vision as significant challenges. Succession planning needs to extend beyond identifying future leaders to ensure continuity of family values, unity and governance across generations. Next generation development is a priority as educational programs, governance participation, advisor engagement and hands-on learning opportunities are being utilized to prepare future generations.

Alexandre Monnier, Head of Family Office Advisory, Citi Wealth added: "As the world around us becomes more complex, family offices are uniquely positioned to build resilient portfolios, reimagine their operations and professionalize in ways that enable their families to achieve ambitious goals. By leveraging Citi's global reach and deep capabilities, we are proud to partner with family offices around the world to help them prepare future generations and preserve and grow wealth."

https://citigroup.com

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