He said that Vietnam was granted a licence for low-orbit satellite internet service to Starlink Services Vietnam, a company owned by billionaire Elon Musk's SpaceX, with a pilot programme accommodating up to 600,000 subscribers and four gateway stations located in Phu Tho, Danang, and Ho Chi Minh City.

Nguyen Anh Cuong, deputy director of the Authority of Telecommunications. Photo: MST

Starlink service for individual users in Vietnam are expected to cost $435 in the first month. This fee includes approximately $350 for the purchase of the terminal equipment and $85 for usage fees.

From the second month onwards, users pay approximately $85, equivalent to about VND2.2 million per month, to maintain their connection.

After Starlink's service was officially licensed by the MST to provide services in Vietnam, some concerns arose about the possibility of this provider lowering prices and directly competing with domestic telecommunications companies.

In response, Cuong said that Starlink Services Vietnam Co., Ltd. has been granted two licences by Vietnam’s Authority of Telecommunications to provide telecommunications services with network infrastructure for the pilot deployment of telecommunications services using low-orbit satellite technology in Vietnam.

According to the licences, Starlink is allowed to deploy in a pilot phase to 600,000 subscribers, equivalent to only about 2.5 per cent of the total number of existing fixed broadband subscribers in Vietnam.

He added that low-orbit satellite services were less likely to compete with the fixed-line, mobile broadband services that Vietnamese businesses were currently providing.

He explained that Starlink, after being licensed to provide telecommunications services in Vietnam, was responsible for fully complying with all legal regulations on price management and competition as with other telecommunications businesses in the market.

"In cases where businesses adjust prices, especially by lowering prices in a way that shows signs of unfair competition, state management agencies will strengthen supervision and apply legal regulations on pricing and competition to handle the situation, maintaining a fair competitive environment, and encouraging the healthy development of the market," Cuong said.

Starlink will be limited to a maximum of 600,000 subscribers during a five-year pilot phase, which must conclude before 2031. This number reflects both management considerations and the technical limitations of Starlink satellite internet.

Starlink commits to completing the system within one year. The setup is not overly complicated, as it mainly involves importing equipment from abroad to Vietnam, and then proceeding with construction and installation at ground station locations.

"If no problems emerge, the deployment time will only be two to three months. In an optimistic scenario, Starlink service could be available from mid-year," Cuong said.

SpaceX eyes Vietnam for $1.5 billion satellite internet investment Tim Hughes, senior vice president of SpaceX, a global leader in space exploration and satellite communications, revealed plans for a $1.5 billion investment in Vietnam.

Starlink yet to submit application to deploy satellite internet service in Vietnam The Authority of Telecommunications under the Ministry of Information and Communications (MST) has yet to receive a licence application for Starlink satellite internet services in Vietnam.

SpaceX appoints Vietnamese CEO to lead Starlink Vietnam operations SpaceX's Starlink has appointed Do Ba Thich as CEO of its Vietnam entity, placing a young Vietnamese executive at the helm of its local operations for the first time.

The investment loan facility is intended to support Green SM Indonesia’s operational readiness and service continuity. The facility provides a stable financial structure to underpin the company’s disciplined growth approach and support consistent service delivery across its existing urban operations.

The signing builds on earlier cooperation between the two parties, which began with Green SM’s market launch in Jakarta in December 2024. Since then, BCA and Green SM Indonesia have collaborated on customer-focused programmes and initiatives to improve service accessibility and raise awareness of environmentally responsible transportation solutions. The singing reflects the maturation of this partnership and BCA’s support in Green SM Indonesia’s operational model and governance standards.

The cooperation also reflects BCA’s broader role in supporting business sectors that are adapting to evolve urban development needs, including shifts towards more efficient and forward-looking mobility solutions.

Denny Haryanto, senior vice president of Corporate Banking at BCA said, “This agreement reflects our approach to supporting businesses with a long-term outlook. Sustainable transportation is increasingly important to Indonesia’s urban development. Through this cooperation, we support initiatives that align with long-term economic resilience and environmental responsibility.”

Deny Tjia, managing director of Green SM Indonesia said, "The investment loan agreement reflects recognition of the disciplined operating model and long-term development orientation that Green SM Indonesia has pursued since its early stages. The facility further strengthens the company’s financial foundation, supporting stable and consistent service delivery across the cities where it operates.”

Since commencing operations, Green SM Indonesia has established a presence in several major urban centres, including Jakarta, Makassar, Bekasi, Surabaya, and Bali. These cities face increasingly complex urban mobility requirements alongside rising expectations for cleaner, more responsible transport solutions.

In the Indonesian market, Green SM provides all-electric taxi services that support routine urban travel while reducing emissions and noise. The company’s operating approach emphasises reliability, professional service standards, and scalability aligned with city-level transport planning.

Through this agreement, Green SM Indonesia and BCA reaffirm their shared view that the transition to sustainable urban mobility requires not only electric vehicle technology but also sound financial structures, responsible governance, and long-term commitment. The investment loan agreement is a practical step to support that transition in Indonesia’s evolving mobility landscape.

Green GSM launches all electric taxi fleet in Davao The new service aims to provide sustainable transportation options in the Philippine city.

Vingroup merges GSM and Green Future On February 28, Vingroup announced the merger between Green and Smart Mobility JSC and Green Future Trading and Services JSC.

GSM and Mai Linh to enter auto repair services in Vietnam GSM and Mai Linh Group have created the joint venture MeKong Xanh SM to develop a comprehensive network of 99 auto repair workshops nationwide, offering maintenance for both petrol and electric vehicles in 2025.

De Brito brings more than 30 years of experience in international hotel and service management, with a career spanning Asia, Europe, and the Middle East. A long-standing member of the Accor network, he has led large-scale projects and pre-opening phases, with particular expertise in positioning hotels in emerging destinations.

Ninh Binh is widely recognised as one of Vietnam’s most promising UNESCO heritage destinations, drawing increasing interest from travellers seeking nature-led and cultural experiences.

Prior to this role, de Brito served as cluster general manager in Japan for Accor, overseeing a portfolio that included Grand Mercure Ise Shima. He has also held general manager positions across several Accor properties, notably Pullman Vung Tau, where he contributed to strengthening market positioning and delivering solid business performance.

Over the course of his career, he has supervised more than 15 hotel openings, reinforcing his experience in bringing new destinations to market.

David Stanley de Brito, general manager of Pullman Ninh Binh. Photo: Pullman Hotels & Resorts

With 283 rooms, Pullman Ninh Binh is positioned as a new landmark in the city centre, introducing a contemporary hospitality offering to the province.

In his new role, de Brito will lead overall operations and strategic direction, with a focus on shaping the hotel into a leading destination in northern Vietnam for both business and leisure travellers. His remit also includes building a capable team and delivering the Pullman brand’s approach to dynamic, experience-led stays that encourage connection and contemporary lifestyles.

He holds a Master’s degree in International Business from Singapore Business School, along with professional certifications from Cornell University. With extensive international experience and a strong understanding of the Vietnamese market, he brings a global perspective to the development of Pullman Ninh Binh.

Pullman Ninh Binh is set to welcome its first guests on May 1. Photo: Pullman Hotels & Resorts

Commenting on his appointment, de Brito said he was honoured to join Pullman Ninh Binh at a pivotal moment for the destination.

“Ninh Binh is a destination with significant potential, and I look forward to working with the team to establish the hotel as a vibrant meeting point for both travellers and the local community, while delivering meaningful and inspiring guest experiences,” he said.

According to de Brito, the hotel will offer a range of accommodation options, including spacious rooms and suites designed with contemporary interiors and views overlooking the surrounding landscape.

Pullman Haiphong Grand Hotel officially launched On March 1, Pullman Hotels & Resorts, the pioneering hotel brand established in 1859, officially launched its newest flagship hotel in the north, Pullman Haiphong Grand Hotel.

Pullman Haiphong to host high-end wedding market expo Haiphong’s newest 5-star hotel will host a wedding event connecting top-tier vendors, reinforcing the city’s rising appeal as a luxury wedding destination.

Pullman Danang Beach Resort appoints new general manager On May 6, Pullman Danang Beach Resort appointed Agnaldo Garibaldi as its new general manager, who has more than 22 years of international hospitality experience.

AEON Vietnam rolls out multiple programmes to support confident shopping amid price volatility

Under the campaign, AEON Vietnam commits to maintaining stable prices for 30 consecutive days across its General Merchandise Stores and Supermarket nationwide. The initiative focuses on essential goods, including fast-moving consumer products such as rice, detergent, tissue paper, and beverages.

In addition, the retailer is introducing bulk-purchase incentives to help shoppers optimise spending. Through these efforts, AEON Vietnam aims to provide customers with greater confidence in managing daily expenses, enabling more effective household budgeting while maintaining quality of life.

The “Everyday Low Prices” programme, which offers sustained promotions on essential goods throughout the year, has been a long-standing initiative of AEON Vietnam. Product categories under this scheme are updated periodically, ensuring competitive pricing and stability over each promotional cycle.

Items included are selected based on three key criteria: price stability, relevance to essential household consumption, and trusted brand quality. This approach is designed to ensure both affordability and reliability for Vietnamese consumers.

Meanwhile, the weekly “Happy Wednesday” promotion offers attractive deals on fresh produce every Wednesday, helping customers access quality food at more affordable prices. The scheme features a wide range of discounted items, with a particular focus on fresh food, frozen products, and dairy.

By targeting essential food categories, AEON Vietnam enables households to manage meal costs more effectively without compromising on nutrition or quality, thereby contributing to more stable and sustainable daily spending.

The “Happy Wednesday” promotion is held weekly by AEON Vietnam every week

To maintain stable supply and pricing in a volatile market environment, AEON Vietnam has been working closely with its partners to enhance supply chain efficiency, while also optimising logistics operations and controlling costs.

These efforts are aimed at minimising the impact of price fluctuations, thereby easing the financial burden on consumers and supporting families in maintaining stable living standards.

According to Tran Thu Quynh, senior general manager of merchandising for the northern and central regions at AEON Vietnam, the company’s customer-first philosophy continues to guide all business decisions.

“In the context of ongoing economic challenges and market volatility, AEON Vietnam remains committed to ensuring stable supply and maintaining reasonable pricing over the long term,” she said. “We aim to stand alongside consumers in managing living costs, helping to safeguard both quality of life and peace of mind for every family.”

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The two-day, in-person programme aimed to strengthen the capacity of local business support agencies, associations, and consultants. It focused on equipping participants with knowledge of market trends towards sustainability, practical advisory skills in manufacturing, and enhanced capabilities in digital and green transformation.

At the same time, it sought to raise awareness of green productivity, occupational safety, and improved working conditions as key drivers of both productivity and decent work.

The training covered a wide range of topics, including the interlinkages between productivity, digital transformation, green transition, and working conditions; the role of needs assessment in designing SME support programmes; and the introduction of diagnostic tools. Participants were also introduced to evolving market requirements linked to green growth and sustainable development, particularly in relation to regulatory standards, supply chains, and international integration.

Practical solutions were highlighted, focusing on resource efficiency, energy optimisation, waste management, and cleaner production. The programme also introduced the SCORE model in enterprise support, alongside approaches to mobilising resources (financial, human, and technological) and addressing challenges in building local business networks. A key component of the course was guiding participants in developing model support programmes tailored to real business needs.

Beyond technical knowledge and tools, the training also served as a platform for exchange and networking, connecting support organisations, businesses, and experts to foster collaboration and shared learning.

Nguyen Xuan Tho, deputy director general of the Department of Private Enterprise and Collective Economy Development.

Speaking at the opening ceremony, Nguyen Xuan Tho, deputy director general of the Department of Private Enterprise and Collective Economy Development, noted the central role of small- and medium-sized enterprises (SMEs) in Vietnam’s economy.

“Vietnam has more than one million enterprises and 5.2 million household businesses, of which 98 per cent are SMEs, the backbone of the national economy and a driving force in innovation, digital transformation, and green transition,” he said.

He noted that the Party and government have issued a series of major policies to support these efforts, including Resolution No.57-NQ/TW on breakthroughs in sci-tech and innovation, along with subsequent resolutions aimed at strengthening the private sector.

“In this context, professionals within business support organisations, consultants and experts in productivity, digital transformation, and green transition, play an indispensable role. They serve as the bridge between policy and practice, designing and implementing support initiatives that align with both enterprise needs and local development priorities, thereby enabling businesses to overcome challenges and integrate more deeply into global value chains,” he added.

Sinwon Park, country director of the International Labour Organization (ILO) in Vietnam, underscored the importance of a people-centred approach. “Transformation must be people-centred. Technology and greener production methods are not ends in themselves; they should enhance business competitiveness while improving working conditions, occupational safety and health, workplace cooperation, and opportunities for both workers and managers,” she said.

“This is the foundation of the ILO’s Productivity Ecosystem for Decent Work approach, which links productivity improvements with better working conditions and responsible enterprise development.”

The Haiphong training is part of a broader series of five courses being implemented across northern provinces, targeting hundreds of officials from support organisations, consultants, and representatives of manufacturing SMEs.

The initiative falls under the Productivity Ecosystem for Decent Work venture, an ILO-led programme funded by the Swiss State Secretariat for Economic Affairs and Norway.

The initiative aims to support Vietnam in encouraging sustainable productivity growth alongside decent work, with the Department of Private Enterprise and Collective Economy Development serving as the lead implementing agency in partnership with the ILO in Vietnam.

Over 64,000 businesses enter market in first two months Vietnam recorded a strong wave of market entry in the first two months of 2026, with 64,484 businesses newly established or returning to operation, up 29.4 per cent on year. The figure reflects strengthening business confidence within the corporate community, according to data released by the Statistics Office under the Ministry of Finance on March 6.

Unlocking sustainable finance for Vietnamese enterprises On March 10, international investors, Vietnamese policymakers, impact investing ecosystem enablers, and impact enterprises gathered in Ho Chi Minh City to tackle one of Vietnam’s most pressing development challenges – attracting global private capital for addressing social and environmental issues.

Finance ministry urges SOEs to lead tech drive for growth Chairing a conference on March 19 to outline priorities for the months ahead, Minister Nguyen Van Thang underscored the pivotal role of state-owned enterprises under the Ministry of Finance’s purview.

Enterprises ready for ESG Eco and Environmental, Social, and Governance are essential requirements for Vietnamese enterprises to integrate into global value chains, experts revealed at the seminar “Economic Outlook 2026: FDI Businesses and the Roadmap for Vietnam’s Rise” held in Ho Chi Minh City on April 2.

Panoramic view of Long Thanh Bridge linking Ho Chi Minh City with Dong Nai

With only a few weeks remaining before the southeast region enters the rainy season, construction pace at package XL01 – spanning nearly 10km within the Ho Chi Minh City-Long Thanh expressway expansion, with Long Thanh 2 Bridge as the heart – is being accelerated in a bid to complete key components on time.

Nguyen Phuong Vinh, deputy director of the Southern Project Management Board under developer Vietnam Expressway Corporation (VEC), noted that although the overall timeline is 18 months, the roadbed and foundation works for the roadway section, as well as foundations and piers for the bridge section, must be completed before mid-May when rainy season begins.

“For this reason, in addition to selecting the most capable bridge contractors in Vietnam, VEC has required contractors to work with utmost urgency, deploying synchronised equipment systems and a dedicated concrete production line installed directly on barges on the river,” Vinh said.

The critical work lies in the construction of Long Thanh 2 Bridge, one of the largest river-crossing bridges currently underway in southern Vietnam. It has a total length of approximately 2.34km, with its main span crossing the Dong Nai River. The longest span reaches 150 metres, sufficient to accommodate the passage of the world’s largest luxury cruise ships accessing ports in Ho Chi Minh City.

A key challenge for Vietnamese contractors on Long Thanh 2 Bridge is the construction of mid-river piers with heights ranging approximately 38-42 metres from pile cap to pier top.

Including the foundation, each pier forms a massive concrete structure equivalent to a 10-12 storey building, embedded 70-80 metres below the riverbed, requiring complex construction techniques and stringent quality control.

Given the capabilities of Vietnamese bridge engineers and workers, the construction of Long Thanh 2 Bridge is not overly difficult from a technical standpoint.

However, the main challenge lies in the timeline, given that comparable river-crossing bridges in the region required significantly longer durations: for example, Long Thanh Bridge 1 was built over 48 months, while Nhon Trach Bridge, inaugurated last September, took 32 months to complete.

With a required completion timeline to align with the operational schedule of Long Thanh International Airport, construction of Long Thanh 2 Bridge has virtually no buffer time, and any error or disruption to construction rhythm could jeopardise the entire schedule.

Thanks to strict construction discipline and well-organised site management, by the end of March, progress on Long Thanh 2 Bridge and other key components has largely remained on track.

“According to the plan, pier shaft construction will be completed by June, laying the foundation for closure of Long Thanh 2 Bridge before December 31, and completion of the remaining works before the Lunar New Year 2027, meeting the schedule required by the government,” a VEC representative stated.

According to Deputy Minister of Construction Pham Minh Ha, the government’s decision to allow the expansion to proceed under an emergency order demonstrates urgency.

The goal of completing nearly 22km of expressway expansion – from four lanes to 8-10 lanes – within 18 months is already a significant challenge, even under perfect conditions. It becomes even more demanding given that construction must proceed alongside ongoing traffic operations, while also addressing tasks related to site clearance.

“The investor and supervision consultants must enhance oversight of traffic safety, labour safety, and environmental sanitation, especially under conditions where construction and operation are carried out simultaneously,” Ha said.

According to Pham Hong Quang, CEO of VEC, after six months of implementation, the project has achieved approximately 33.84 per cent of total workload, with cumulative disbursement reaching around $105 million out of the total $310 million.

“Under any circumstances, we will make every effort to substantially complete the entire Ho Chi Minh City-Long Thanh expressway expansion by December, ensuring convenient and safe access for the public to Long Thanh International Airport,” Quang explained.

In addition to the bridge, the roadway section under package XL02 has largely completed ground reinforcement works, with full-scale roadbed construction launched simultaneously since early March.

Alongside certain site clearance delays, the most significant challenge at present remains the supply of construction materials, particularly building stone.

Notably, fuel prices have experienced sharp fluctuations in recent months, while construction price indices for the first quarter of 2026 in Ho Chi Minh City and Long Thanh have yet to be announced by local construction authorities, further increasing pressure on both progress and costs for contractors.

To maintain construction momentum, in addition to directing the Southern Project Management Board to work closely with local authorities to unlock material supply sources, VEC has proposed that competent authorities promptly update fluctuations in the prices of raw materials, fuel, materials, and labour in the area.

It has also instructed the same board to expedite inspection, acceptance, and payment procedures to ensure continuous cash flow at construction sites, enabling contractors to stockpile fuel and procure essential materials in advance to mitigate price escalation risks, particularly amid ongoing complexities in the Middle East conflict.

When infrastructure shapes the flow of capital in logistics Vietnam is entering into its most ambitious phase of public investment in a decade, with major infrastructure projects such as the North–South Expressway, Long Thanh International Airport, and the Can Gio and Lien Chieu seaports.

Long Thanh International Airport welcomes first Vietnam Airlines test flight Long Thanh International Airport has received its first commercial aircraft from Vietnam Airlines, moving closer to full operational readiness.

Contractors concerns over Long Thanh Airport's largest bidding contract Interested contractors are concerned about the practicability of the largest bidding contract for Long Thanh International Airport due to the tight construction deadline.

The information was revealed by the municipal Department of Finance at a press conference on the city's socioeconomic situation on April 2.

TikTok Shop Vietnam, part of Singapore’s TikTok Pte. Ltd, implements a venture in the information and communication industry with a total investment capital of $125 million. This is one of 10 notable foreign direct investment (FDI) ventures in Ho Chi Minh City in the first quarter of 2026.

Previously, at the launch of Vietnam's International Financial Centre in Ho Chi Minh City (VIFC-HCMC), Tiktok was named as one of six strategic members. The partnership between TikTok and Ho Chi Minh City was discussed at the meeting between Chanida Klyphun, director of Public Policy for Southeast Asia at TikTok, and Nguyen Van Duoc, Chairman of Ho Chi Minh City People’s Committee, in late 2025.

According to Klyphun, TikTok was evaluating an option to shift three major services currently managed offshore to onshore entities within the VIFC-HCM. The platform submitted applications to establish three companies at VIFC-HCM, in line with the city’s digital economy and digital service development strategy.

They include a logistics service provider capable of handling one to two billion orders annually, a digital payment company, TikTok Payment, which serves its 45 million Vietnamese users, and a digital commerce business projected to generate over $10 billion in annual gross merchandise value.

“We hope that the city leaders will provide support and create better conditions for the company to accelerate licensing. Thus, new companies can kickstart operations in 2026,” Klyphun said.

Another FDI initiative is the Techtronic Tools Vietnam factory developed by Singapore’s Techtronic Industries Company Pte. Ltd with a total investment capital of $81 million.

In addition, Netherlands’ MSD Animal Health Vietnam increased its registered capital by $80 million in professional, scientific and technological activities. Singapore’s SP Vietnam HCMC boosted its registered capital by$67 million in information and communication. Likewise, Singapore’s Momogi Group Vietnam Co., Ltd. raised its registered capital by $55.4 million in professional, scientifics, and technological activities.

In terms of capital contribution and share purchase, the city recorded five notable transactions in the first half of the year. Accordingly, Indonesia’s Haryanto Sudarno Kusuma contributed capital of over $1.7 billion to VLD Investment and Financial JSC. Momogi Group Vietnam registered a capital contribution of over $64.3 million to Bibica.

Other notable transactions include Zeit Elevator’s $41.4 million investment in VGSI Elevator; Kredivo Vietnam’s nearly $34.4 million investment in Timo Vietnam; and Zhang Shuting and Yang Chao (China) making a combined investment of over $20.2 million in HongYI International Vietnam.

According to the Department of Finance, FDI attraction in the city in the first quarter of 2026 remains a bright spot against a complex regional and global environment.

Total registered FDI, including newly registered capital, adjusted capital, capital contribution, and share purchase, reached $2.9 billion in the first quarter of the year, soaring 220 per cent from a year ago. The results underscore investor confidence in the city’s business and investment climate.

The city is aiming to achieve a target of $11 billion in FDI for the entire year.

Ho Chi Minh City advances low-emission private vehicles Ho Chi Minh City Department of Construction, in collaboration with the United Nations Development Programme, organised a workshop on advancing low-emission vehicles in Ho Chi Minh City on March 31.

Sembcorp gets approval for AI-ready data centre in Ho Chi Minh City Sembcorp Development has received investment approval for a hyperscaled and AI-ready data centre campus in Ho Chi Minh City, through its joint venture with StarMason JSC.

Banks ramp up plans to establish VIFC subsidiaries Banks are accelerating plans to set up subsidiary banks at the Vietnam International Financial Centre to expand the ecosystem and enhance international competitiveness.

Notably, Vietnam aims to expand its expressway network to more than 5,000km in 2026-2030, up from around 3,300km by the end of 2025. This implies sustained high demand for infrastructure construction over the forthcoming years, providing a stable pipeline of work for contractors.

In the residential construction segment, SSI Research believes that the removal of legal bottlenecks for housing projects, along with the nationwide expansion of social housing programs, will help construction demand recover markedly in 2026.

In addition to rising borrowing costs, construction contractors are under pressure from sharply increasing material costs

In practice, large backlog values are a clear bright spot across many leading construction firms.

Coteccons Construction JSC reported winning additional contracts worth $720 million in the second quarter of fiscal year 2025-2026 lasting from October 1 to December 31, 2025, bringing its total backlog to $2.5 billion, the highest level in its operating history.

Similarly, Hoa Binh Construction JSC recorded a total backlog of over $400 million at the end of 2025.

The company has continued to secure major contracts, including Meyspear Harmony Phu Quoc and Hoang Huy Commerce-Rose Residence’s second phase, while targeting $400 million in revenue and $10 million in net profit for 2026.

According to estimates by MB Securities, in Q1 of 2026, total backlog value across the construction sector continued to improve as both residential construction and public investment disbursement accelerated.

Companies under MBS observation are expected to increase backlog values by 7-45 per cent on-year. Notably, firms focused on residential construction may record stronger growth, as major developers accelerate project implementation to boost sales in 2026, while also benefiting from stronger decentralisation in executing key national projects.

Despite positive revenue prospects, the construction industry still faces a structural challenge: already thin profit margins are coming under further pressure from rising input costs.

Construction material costs typically account for around 60-70 per cent of total construction expenses, making the sector particularly sensitive to fluctuations in raw material prices.

Amid rising global energy prices driven by geopolitical tensions in the Middle East, the risk of escalating input costs is becoming increasingly evident.

The Ministry of Construction has recently called on ministries, agencies, and local authorities to strengthen management and stabilise construction material prices to ensure project progress, particularly for key national projects.

The underlying cause, it noted, is regional conflict in the Middle East disrupting energy supply chains, driving up fuel prices and, in turn, driving up transportation costs and the prices of materials such as sand, stone, fill soil, cement, and steel.

Beyond material costs, rising interest rates are also exerting significant pressure on contractors’ profit margins.

In Q1, deposit and lending rates at state-owned banks were adjusted upward. Accordingly, lending rates in the real estate sector have supposedly risen to 12-13 per cent, per year, the highest level in several years.

This not only pushes up developers’ cost of capital but may also delay project implementation, indirectly affecting the workload of construction contractors.

At Hoa Binh Construction, despite reporting profits approximating $40.4 million in 2024 and $10.8 million in 2025, most of these earnings came from asset liquidation and disposals during its restructuring process.

Excluding these factors, the company’s gross profit margin has declined significantly, from 10.5 per cent in 2017 to just 6.2 per cent in 2025.

Similarly, at Phuc Hung Holdings Construction JSC, after peaking in 2019 with profit of $3.05 million, business performance has shown a downward trend. Gross profit margin declined from 8.3 per cent in 2019 to 7.6 per cent in 2025, while net profit margin fell from 2.05 per cent to 1.49 per cent.

The construction sector’s business outlook in 2026 therefore presents a picture of contrasting dynamics: on one hand, growth expectations driven by large backlogs and strong public investment flows; on the other, mounting cost pressures weighing on already thin profit margins.

In this context, companies with healthy balance sheets, effective cost control, and the ability to target the right project segments are likely to gain a competitive edge, while financially weaker firms may continue to face an ongoing cycle of consolidation.

RoK construction firms interested in Vietnamese market With the domestic housing market entering a period of stagnation, many construction companies of the Republic of Korea (RoK) have amended their business strategies, in which many choose Vietnam as their destination, the RoK’s Newdaily newspaper reported.

Construction firms seek changes to bidding mechanism for large-scale projects Construction firms are seeking amendments to the Law on Bidding to create better conditions to implement projects.

Construction firms poised for growth on public investment and capital market support Building firms posted strong profit growth in 2025 and are entering the new year with expanding projects, supported by record public investment and signs of private sector recovery.

To achieve these goals amid ongoing volatility, the company plans to expand its product portfolio, develop a multi-industry distribution network, optimise logistics, and accelerate digital infrastructure solutions, technology devices, and data centre development.

Notably, Digiworld is expected to submit to its AGM on April 22 a restructuring plan under a holdings model, transitioning to a role focused on capital management, investment, and oversight of member units.

Restructuring, diversification, and development of balanced business pillars are a key choice for many companies

According to the company, the new model will enhance governance efficiency, improve risk control, and utilise specialisation within its ecosystem, optimising resources and laying the foundation for a medium- to long-term strategy.

FPT Digital Retail JSC (FPT Retail), has set a target of $2.38 billion in revenue and $62 million in pre-tax profit this year, up 16 per cent and 27 per cent, respectively, on-year.

FPT Retail’s strategy continues to rest on two main pillars. For the FPT Long Chau pharmacy chain, the company is expanding its healthcare ecosystem, increasing the coverage of pharmacy outlets and vaccination centres, while investing in technology and strengthening its position in specialised drugs, rare medicines, next-generation pharmaceuticals, and prescription drugs.

For FPT Shop, the company is diversifying its product range, pushing into consumer electronics and home appliances, leveraging the trend of AI-integrated devices, and developing digital services and online sales channels.

FPT Retail noted that the 2026 business environment still carries significant uncertainties stemming from geopolitics, trade policies, and supply chain costs.

Domestically, purchasing power is showing signs of recovery but remains uneven. In the ICT sector, demand is expected to remain stable, while AI-integrated products may trigger a new upgrade cycle, despite potential short- to medium-term supply shortages and price increases.

In manufacturing, many companies are opting for a balanced strategy between domestic and export markets.

Southern Fertilizer JSC, for instance, targets 2026 revenue of $92 million and pre-tax profit of $1.68 million, up 11 per cent and 4 per cent, respectively.

The company identifies the domestic market as its core focus, while maintaining exports to Cambodia and the Philippines.

According to Southern Fertilize, the business environment is under pressure amid policy fluctuations in China and prolonged geopolitical conflicts, which have driven up oil and energy prices, thereby increasing input costs and affecting product output.

In the pharmaceutical sector, Central Pharmaceutical JSC No. 3 is focusing on strengthening its financial capacity, with plans to double its charter capital to over $1.38 million.

This will be done through a 2:1 bonus share issuance from equity and a 2:1 rights offering to existing shareholders at a price of $0.40 per share.

The total expected proceeds of approximately $340,000 will be used to supplement production capital, purchase raw materials, and invest in machinery for research and development.

In 2026, the company aims to achieve revenue of $10.08 million and after-tax profit of $264,000, up 17 per cent and 73 per cent, respectively, reflecting expectations for the effectiveness of its expansion strategy.

The overall picture from this AGM season shows that companies are not only pursuing growth but also emphasising restructuring, revenue diversification, technology investment, and the building of balanced business pillars to adapt to a volatile environment.

Policy direction pivotal for logistics development Logistics enterprises in Vietnam are expecting new policy changes to further motivate them. Dao Trong Khoa, president of the Vietnam Logistics Business Association, spoke to VIR’s Tung Anh about what will drive the industry ahead.

Industrial parks pivot to sustainable models amid rising ESG demands Sustainable investment in industrial parks took centre stage at a CEO talkshow hosted by VIR and partners at the Phu My 3 specialised industrial park in Ho Chi Minh City.

Vietnam’s pivotal year for advancing sustainability The Ministry of Agriculture and Environment identifies 2026 as a pivotal year in advancing the sector’s sustainable development goals and contributing to the country’s overall development trajectory.

According to materials submitted to shareholders, SABECO reported net revenue of nearly VND32 trillion ($1.28 billion) in 2025, achieving around 99.6 per cent of its annual plan. However, after-tax profit reached only VND4.424 trillion ($177 million), falling short of the targeted VND4.728 trillion ($189 million).

This means the company fulfilled approximately 94 per cent of its profit plan, indicating a notable gap between revenue performance and profitability.

The divergence between revenue and profit suggests increasing pressure on margins. While top-line figures remained largely stable, cost dynamics and competitive factors appear to have eroded profitability. In its AGM documents, SABECO acknowledged that business conditions in 2025 remained challenging, citing weakening consumer demand, shifting consumption patterns, and intensifying competition.

Changes in consumer behaviour, including a shift towards premium products and, in some cases, reduced alcohol consumption, have continued to weigh on the mid-tier segment where SABECO has traditionally maintained a strong presence. At the same time, regulatory measures aimed at controlling alcohol consumption have had a lingering impact on market demand.

In addition, fluctuations in input costs such as barley, aluminium, and logistics have added further pressure on operating margins. The company’s ability to pass on higher costs to consumers has been constrained by stiff competition, particularly from international brewers with stronger positioning in the premium segment. As a result, margin recovery remains uncertain in the near term.

Against this backdrop, SABECO has adopted a cautious approach for its 2026 business plan. The company targets revenue and profit growth, but profit is expected to increase at a slower pace than revenue. This reflects a conservative outlook and suggests that management does not anticipate a significant improvement in profitability in the short term.

The company also highlighted several ongoing risks, including continued volatility in input costs, intensifying industry competition, and evolving consumer preferences. Meanwhile, regulatory policies governing alcoholic beverages are expected to remain a key factor influencing the sector’s outlook.

In this context, the shortfall in 2025 profit raises questions about forecasting accuracy and execution capabilities amid a rapidly changing market environment. Although the deviation from the plan was not substantial, it underscores broader structural challenges facing the beer industry, where growth has slowed and competition has become more pronounced.

As SABECO heads into its 2026 AGM, investors are likely to focus on how the company plans to navigate these headwinds and whether it can sustain stable growth while addressing margin pressures.

According to Tran Dinh Thien, former director of the Vietnam Institute of Economics, despite heightened global volatility, Vietnam has maintained impressive macroeconomic indicators. Specifically, the country is currently among the world’s top 10 fastest-growing economies, with its economy ranked 32nd globally and expected to soon rise to 30th place.

“The world is uncertain, but Vietnam is exceptional in its resilience and in sustaining strategic confidence,” Thien said.

Thien also warned that the upward trend in interest rates since late 2025 is placing considerable pressure on the broader economy, particularly the real estate sector, which remains heavily dependent on borrowed capital.

“For an economy with a high degree of openness and substantial outstanding debt, even a 1 per cent increase in interest rates can significantly raise financing costs,” he noted.

“A 1 per cent rise in interest rates is estimated to increase the economy’s annual interest burden by around VND184 trillion (around $7 billion), with the real estate sector alone facing an additional VND47 trillion ($1.8 billion) per year,” Thien said, adding that deposit rates reaching 9 per cent have pushed effective lending rates to 14-15 per cent, and in some cases as high as 16 per cent.

Another point of concern is the slowing velocity of money circulation, indicating that businesses’ capacity to absorb capital remains weak, while the economy continues to rely heavily on bank credit, which accounts for around 50-60 per cent of total funding.

“The mismatch between short-term capital and long-term investment demand is increasing liquidity risks, particularly for highly leveraged sectors such as real estate,” Thien added.

Meanwhile, Nguyen Van Dinh, vice chairman of the Vietnam Real Estate Association, noted that the real estate market had benefited for an extended period from cheap and readily accessible capital. This, in essence, reflected the government’s efforts to inject liquidity into the economy to stimulate growth, including in the property sector.

In the new context, capital flows will be allocated more selectively to support the economy’s double-digit growth objectives.

According to Dinh, financial resources can no longer be concentrated in only a few sectors, but must instead be distributed more efficiently across productive and higher-performing industries. This means capital will increasingly move towards areas generating real value, rather than speculative activities as seen previously.

“I do not believe the State Bank of Vietnam has any intention of tightening credit or monetary policy specifically for the real estate market. However, because capital must serve multiple sectors and prioritise more efficient locations and activities, speculative short-term trading aimed at taking advantage of overheated market conditions will inevitably be constrained,” Dinh said.

Dinh added that as money is no longer cheap or easily accessible, investors are being forced to reassess efficiency.

“In the past, when capital was inexpensive, short-term speculation could be profitable. Today, with financing costs rising and access to capital becoming more difficult, unsuccessful short-term trades can easily leave investors trapped in illiquid positions. This is a period in which the entire system is recalibrating towards a more substantive, higher-quality, and more efficient market,” Dinh said.

Vietnam moves to improve housing and real estate market Vietnam is amending the Law on Housing and the Law on Real Estate to create a more favourable, transparent market.

Affordability and sustainability to define new real estate cycle In the new real estate cycle, success will favour developers who prioritise genuine affordability and sustainable financial structures over short-term sales tactics, according to Jerry Nguyen, deputy general director of Investment and International Market Development at Hoa Binh Construction Group.

Q1 earnings picture mixed as cost pressures persist First-quarter 2026 earnings are forecast to diverge sharply across sectors, as high funding costs and macroeconomic uncertainties weigh unevenly on industries.

More notably, the city has been identified as one of the financial centres expected to gain significant importance over the next 2-3 years.

“This is a positive signal, indicating that Vietnam in general and Ho Chi Minh City in particular are being mentioned more frequently in international financial forums. However, these results should be viewed with caution and grounded in practical substance,” McClellan said.

“Global Financial Centres Index (GFCI) should be understood as an indication of emerging momentum and improving international recognition, rather than proof that Ho Chi Minh City has already become a fully developed international financial centre. The ranking reflects market acknowledgement of the city’s initial progress, but the road ahead remains long,” he added.

However, Ho Chi Minh City’s rise in the GFCI is not incidental, but driven by three main factors over recent times. First, there has been consistent policy direction at the national level. The Party and National Assembly have demonstrated a clear commitment to developing an international financial centre, sending a strong message to both domestic and international stakeholders that this is a long-term strategic priority for Vietnam.

Second, the institutional roadmap is gradually taking shape. The legal framework, governance structure, and licensing mechanisms for the financial centre are being developed in line with international standards, laying the groundwork for future operations.

Third, international engagement is expanding steadily. Vietnam is proactively engaging with global financial institutions, investors, and strategic partners, thereby enhancing visibility and building confidence in international markets.

According to McClellan, the GFCI essentially reflects how international recognition is gradually following Vietnam’s sound policy direction and sustained integration efforts. However, while the ranking result is encouraging, it should be clearly recognised that this remains an early stage of development. The key task now is to translate that momentum into tangible progress.

“Three priority areas should be addressed in the next phase: establishing a transparent, predictable, and credible legal framework; ensuring capital mobility and financial integration; and developing financial markets and the broader ecosystem, including capital markets, asset management, private assets, fintech, and innovation,” he added.

However, rankings such as the GFCI will continue to fluctuate in the coming years, particularly during the early stages of development, and this is entirely normal.

More importantly, the GFCI is an outcome indicator rather than a predictive one. It reflects how the market community evaluates a financial centre after progress has already been recognised, rather than serving as a short-term target to pursue.

Therefore, the real objective is not to improve rankings within a few months or a year, but to build a financial centre that international investors actively choose as a base for presence and operations. If institutions are firmly established, capital flows smoothly, and markets develop in substance, rankings will improve naturally over time.

“The latest GFCI results are an encouraging signal for Ho Chi Minh City and for Vietnam. While this remains a relative benchmark, it clearly reflects growing international interest and recognition. But that result also brings a clear responsibility going forward. The task now is to convert that interest into real investment, to build robust institutions, and to develop a system that is credible, competitive, and genuinely connected to the world,” McClellan said.

VIFC launches aviation finance hub to tap regional market growth Vietnam is stepping up efforts to develop specialised aviation finance capabilities as part of its broader ambition to become a regional financial hub. A new initiative aims to connect global aircraft manufacturers, financiers, and airlines through Ho Chi Minh City.

Academic-policy network planned to support VIFC development Vietnam is working to establish a nationally recognised academic-policy forum in finance, aimed at strengthening policy advisory capacity and supporting the development of its International Financial Centre.

Vietnam seeks UK expertise to advance IFC vision Vietnam is turning to UK expertise as it advances plans to develop international financial centres in Ho Chi Minh City and Danang, with a focus on strengthening its legal framework and investor appeal.

Building an IFC via global experience Angela Knight, chair of the Astana Financial Services Authority and former UK Economic Secretary to the Treasury, talked with VIR’s Thanh Dat about how to build hubs and offered insights from experience, including lessons from Astana and other global IFCs.

Key strategic pillars of the partnership include HR transformation, optimising employee experience, and enhancing operational efficiency.

Nguyen Trinh Thuy Trang, chief operations officer at Coteccons, stated that with the aspiration to be recognised as an industry leader, Coteccons requires a unified and intelligent platform to match its growth pace.

“Choosing Workday was a strategic, long-term move driven by cultural alignment and our approach to organisational development. Workday provides the real-time data and operational flexibility we need, rooted in a consistent philosophy: technology exists to support people. By placing our people at the centre, empowered by trust and led by fair, connected, and transparent data, Coteccons can lead the organisation in the AI era," Trang said.

Fabio Tiviti, group vice president for Field Strategy and Operations at Workday, added that Coteccons is setting a new benchmark for the construction industry by recognising that digital transformation is, at its heart, a people-first initiative.

“With Workday, Coteccons is equipping its workforce with the same enterprise AI and data-driven insights used by the world’s leading organisations,’ Tiviti said.

In a shifting macroeconomic landscape, Vietnam’s demographic strength, where 70 per cent of the population is of working age, is increasingly redefining expectations for the modern workplace. This new generation of talent prioritises rapid career progression, real-time feedback, and a seamless digital experience similar to everyday consumer apps.

To remain competitive, organisations must prioritise business transformation to build centralised data systems that optimise operations and create a long-term foundation for nurturing talent. For the construction industry, a sector traditionally slower to embrace digital transformation, Coteccons views human resource management not merely as an administrative function, but as a strategic pillar.

Partnering with Workday establishes a unified, transparent, and reliable human resource platform that enhances employee experience, empowers management to make decisions based on real-time data, and reduces reliance on manual processes.

Coteccons reports robust FY2025 results with strong revenue growth Coteccons Construction JSC has announced its financial results for Q4 and the full fiscal year 2025, reporting on-year increases in both revenue and profit, alongside a significantly expanded backlog and contract wins.

Coteccons charts course for regional expansion Coteccons is taking concrete steps to expand beyond Vietnam, seeking growth opportunities in regional markets as part of its long-term development strategy.

The proposed facility comprises·an initial committed tranche of up to $10 million, and an additional uncommitted accordion tranche of up to $10 million. It remains subject to completion of due diligence, finalisation of documentation and satisfaction of customary conditions precedent, which Coro expects to be completed during the first half of 2026.

The facility is expected to be structured as a senior secured term loan denominated in US dollars. It will fund up to 70 per cent of capital expenditure across a portfolio of contracted rooftop solar and battery storage projects in Vietnam, secured against Coro's Vietnam operating platform, including project assets, contracts, and cashflows.

The move will support the continued rollout of Coro's ventures with existing and new commercial and industrial customers in Vietnam, including the ability to finance battery energy storage systems.

Coro chairman Tom Richardson said, "We are pleased to have reached this important milestone for a significant long-term financing facility. It is a validation of our platform and opportunity set in Vietnam and potentially transformative for the company. The agreed commercial terms provide a strong foundation to support the continued scaling of our Vietnam rooftop solar platform."

Although the identity of the investor was not disclosed, Coro described them as a well-established institutional capital provider with an established track record in financing renewable energy and energy transition infrastructure globally.

Coro Energy to launch BESS Pilot in Vietnam Coro Energy PLC, a Southeast Asian renewable energy developer, on December 3 announced that it has signed a deal with Mobile World Group (MWG) for the delivery of a co-located Battery Energy Storage System Pilot (BESS Pilot) at one of Coro's existing rooftop solar sites in Ho Chi Minh City.

Levanta Renewables and BIDV sign finance deal for Chu Prong wind farm Levanta Renewables announced on April 1 that the company had signed project finance agreements with BIDV for the 50 MW Chu Prong wind farm in Gia Lai province.

Gresham House acquires on-site renewables developer Asia Clean Capital Vietnam Gresham House, a UK-headquartered specialist alternative asset manager focused on sustainable investments, signed an agreement to acquire Vietnamese on-site renewable energy developer Asia Clean Capital Vietnam Pte. Ltd. on March 11.

According to the company's announcement on March 31, the collaboration follows the signing of a document focused on the implementation and use of Carebot’s AI solutions in clinical practice.

“This collaboration is an important step in bringing clinically validated AI into new regions and real hospital environments. We see strong potential in Vietnam and across Asia, where healthcare systems are rapidly evolving and open to innovation,” said Matěj Misař, CEO of Carebot.

Bach Mai Hospital is actively developing a smart hospital model, where digital infrastructure, integrated health records, and advanced technologies such as AI form the foundation of clinical care. This creates an environment where AI is not used as an integrated part of hospital systems, enabling more efficient workflows and better-informed clinical decisions.

For Carebot, this represents a strong alignment with its approach to developing solutions that work directly within existing healthcare infrastructure. The collaboration will focus on integrating AI directly into clinical workflows, supporting radiologists in everyday decision-making without adding complexity.

The move also reflects the growing relationship between the Czech Republic and Vietnam in healthcare and innovation. By bringing European-developed, clinically validated AI into Vietnamese hospitals, Carebot contributes to accelerating digital transformation and knowledge exchange in the region.

With a strong footprint across Central and Eastern Europe, Carebot continues to expand into new international markets, including Asia and the Middle East.

Hanoi to pilot AI at three hospitals for early cancer and stroke detection Hanoi plans to pilot the application of AI at three hospitals, including Duc Giang, Saint Paul, and Hanoi Oncology Hospital, to enable early detection of dangerous diseases such as cancer and stroke.

GE HealthCare showcases latest imaging innovations in Vietnam GE HealthCare has showcased its latest imaging technologies to Vietnam’s medical community at a major industry forum in Hanoi.

Health minister highlights comprehensive, people-centred healthcare orientation Resolution No. 72 provides a breakthrough orientation for the protection, care and improvement of the people’s health. It places the people’s health at the centre of all healthcare policies and services, while aiming to address long-standing bottlenecks in the health sector that have yet to be fundamentally resolved.

In addition, alongside increasingly modern logistics capacity, Ho Chi Minh City and Oregon are well positioned to jointly develop an efficient and stable trans-Pacific logistics corridor.

"Ho Chi Minh City has strong maritime development potential as Vietnam’s largest economic and logistics hub, anchored by key port clusters," Quy said. "The city plays a strategic role in connecting to the Cai Mep-Thi Vai deep-water port complex, which operates direct shipping routes to the US and can accommodate vessels of up to 250,000 DWT,”

The city is also home to Tan Cang Cat Lai Terminal, operated by Saigon Newport Corporation, Vietnam’s largest container port and one of the world’s top 30, with direct inland waterway and road links to Cai Mep-Thi Vai.

“Ho Chi Minh City is expected to strengthen its regional transshipment role through future projects such as Can Gio Port and Cai Mep Ha, both designed to handle ultra-large vessels,” Quy added.

Meanwhile, Oregon records annual exports of approximately $34 billion, with Vietnam currently accounting for around 4 per cent of the state’s total export turnover.

Oregon’s competitive strengths lie in high technology, semiconductors, and green logistics, supported by efficient inland connectivity across the US Pacific Northwest. The state also operates an active seaport system, notably Portland port, which is regarded as one of the 10 most active ports in the US.

In particular, cargo routed through transshipment gateways such as the Port of Seattle can reach Oregon via combined inland waterway and road transport in one to three days.

“At present, container shipping time from Ho Chi Minh City to the US West Coast ranges from 20 to 25 days, and could be shortened by around 20 days with direct routes,” Quy said.

From Tan Cang-Cai Mep International Terminal and Tan Cang-Cai Mep Thi Vai Terminal, six direct services currently operate to the US West Coast, with average ocean freight rates of about $2,500 per 40-foot container.

“This means total door-to-door transit time can be kept within 22-30 days, creating the necessary conditions for a stable, high-frequency, and cost-competitive supply chain,” he said.

Gregory Harris, chief of the commercial section at the Consulate General of the US in Ho Chi Minh City, described Vietnam as a dynamic and high-potential economy.

“As bilateral trade continues to expand, the US expects to see more opportunities for businesses from Oregon, a state with a strong reliance on trade, to bring internationally standardised products and services to Vietnamese consumers,” Harris said.

He also welcomed the approval of the revised Power Development Plan VIII, expressing hope that energy projects involving US enterprises would soon move forward in practice, thereby creating a stronger foundation for trade and investment expansion in the coming period.

Colin Sears, global trade and business manager at Business Oregon, said that the state benefits from a strategic location on the US West Coast, among the lowest energy costs in the country, and a highly educated workforce, with 43.6 per cent of its population holding a university degree.

“Oregon is prioritising foreign direct investment in key sectors such as high technology, life sciences, metallurgy, and agriculture and forestry,” Sears said. “To further support investors, the state is expected to launch a global trade desk in May, together with a comprehensive incentive framework covering more than 90 programmes, including tax exemptions of 10 to 15 years for eligible investors.”

Sharing details on logistics infrastructure capacity, Andy Reed, head of Global Trade Economic Development at the Port of Portland, said the port contributes $9.7 billion annually to regional GDP.

“In this port, Terminal 6, the only container terminal in Oregon, is equipped with modern multimodal infrastructure and fully automated gate systems,” said Reed. “The port serves as a strategic distribution gateway for the US West Coast and western Canada, while also expanding transport links with high-potential Asian markets, particularly Vietnam.”

Luong Quang Thi, vice chairman of the Ho Chi Minh City Logistics Association, highlighted the city's competitive edge, noting that logistics costs are 25-30 per cent lower than those of Singapore.

He proposed several pillars for cooperation, including the establishment of a direct maritime route linking Portland with Cai Mep-Thi Vai Port, the development of a "cold corridor” under a farm-to-shelf model for premium agricultural products, and stronger collaboration in AI applications and green logistics to support the goal of reducing carbon emissions by 30 per cent by 2030.

“We expect both sides to move towards signing an MoU to position Ho Chi Minh City as a strategic distribution gateway for Oregon goods into the 650-million-consumer ASEAN market,” Thi said.

According to Ho Chi Minh City Investment and Trade Promotion Centre, the US remains one of Vietnam’s most important economic partners and currently its largest export market. In terms of investment, the US so far has more than 1,500 valid projects in Vietnam with total registered capital exceeding $12.5 billion.

In Ho Chi Minh City alone, US investors are operating 915 projects with total capital of more than $7.6 billion, ranking seventh among 136 countries and territories by investment value.

Ho Chi Minh City targets four semiconductor projects this year Ho Chi Minh City will focus on attracting at least four high-added-value foreign investment projects in the semiconductor industry, with a focus on cooperation with AMD, Nvidia, and Qualcomm.

Ho Chi Minh City Respiratory Society congress draws nearly 800 experts As respiratory diseases continue to impose a substantial health impact on young children, older adults, and individuals with underlying medical conditions, health professionals in Vietnam and abroad are seeking to advance scientific exchange in respiratory health.

FDI surges in Ho Chi Minh City, reaching nearly $2.9 billion in Q1 In the first quarter, Ho Chi Minh City attracted nearly $2.9 billion in foreign direct investment, up 219 per cent on-year. This year, the city is prioritising high-tech and environmentally friendly projects.

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

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

For more information, visit www.globalfoodpartners.com

In particular, PRUExtra Preferred Care, the new rider for Prudential's preferred list of private healthcare institutions, is at least 45 per cent more affordable across all age groups compared to its previous corresponding rider, with some groups seeing a 55 per cent difference.

The three new riders – PRUExtra Premier Care, PRUExtra Preferred Care, and PRUExtra Plus Care (known as the "PRUExtra Care series") – replace Prudential's previous suite of riders, and align with the new rider requirements announced by the Ministry of Health (MOH) in November 2025.

PRUExtra Premier Care is a rider for private healthcare institutions, PRUExtra Preferred Care is a rider for Prudential's preferred list of private healthcare institutions under the PRUPanel Connect programme, and PRUExtra Plus Care is a rider for restructured hospitals (up to Class A wards).

The PRUExtra Care riders offer new benefits including additional policy year limits of up to $100,000 if hospitalisation is due to critical illness, and a 12-month premium waiver during retrenchment.

Dr Sidharth Kachroo, Chief Health Officer, Prudential Singapore, said: "By balancing more affordable premiums with meaningful enhancements, the PRUExtra Care riders lower the barrier to comprehensive medical protection for individuals. It also supports the long-term sustainability of private healthcare protection for customers in Singapore."

IP main plans offer broader coverage by giving individuals more choice, including higher ward classes, access to private healthcare, and the flexibility to choose their doctor. Prudential's riders complement its IP main plans by providing additional coverage for out-of-pocket expenses and treatments that MediShield Life and IP main plans may exclude, including coverage for non-cancer drug list treatments and non-listed cell, tissue and gene therapy products (CTGTP).

Dr Kachroo added: "Everyone wants peace of mind that they are protected against large hospital bills, and this fortunately is covered for citizens and permanent residents by MediShield Life in Singapore. Integrated Shield Plans (IPs) add value by providing individuals with a wider choice in the type of care they receive. When coupled with a rider, it expands that set of options and the breadth of coverage for the consumer, especially those who want private care. For foreigners who don't have MediShield Life, IPs provide access to more healthcare options while they reside in Singapore."

Enhanced critical illness limits and new retrenchment benefit

A critical illness (CI) diagnosis often requires intensive medical treatments and prolonged recovery periods. In view of rising incidences of CIs such as cancer[1], heart attack[2], and stroke[3] in Singapore, Prudential has introduced an early-to-late CI benefit in its PRUExtra Care series. Should a customer be hospitalised or require surgery due to a covered early, intermediate, or late-stage CI, their policy year limit will be increased by up to $100,000.[4]

Dr Kachroo said: "Our PRUExtra Care customers get up to $100,000 added to their policy year limits should they be hospitalised due to critical illness. Managing a critical illness usually involves complex treatments and repeated procedures, which can quickly put pressure on customers' annual limits. By increasing policy year limits for early to late-stage critical illnesses, they can be assured that their coverage can keep pace with their treatment needs, allowing them to focus fully on recovery and healing.

"We also recognise that health security is tied to financial stability. An unexpected job loss can make it challenging for customers to maintain regular insurance premium payments, and result in a lapse in health protection when it's needed most. To prevent this, we have introduced a retrenchment waiver benefit to ease their financial burden and give them some time to get back on their feet."

Under the new retrenchment waiver benefit for PRUExtra Premier Care​ and PRUExtra Preferred Care customers, those who remain unemployed for a continuous period of six months can apply for a waiver on their rider premiums for the next 12 months. The waiver continues to apply even if the customer secures new employment during the waiver period.

More affordability with use of panel providers and no-claim discount

Customers with PRUExtra Premier Care who are treated by panel[5] and extended panel specialists at panel healthcare institutions can keep their premium level the same at the next policy renewal under the claims-based premium pricing framework.[6]

In addition, PRUExtra Premier Care customers enjoy a 20 per cent discount ("PRUWell Reward") on their standard level premium (the lowest premium tier within their age band) when their policy is issued with no special terms and conditions, as well as at their next policy renewal if no claims are made.

Importance of reviewing protection needs with a financial representative

As individuals move through different life stages, their healthcare needs and financial circumstances can change. Customers are encouraged to review their protection with a financial representative to assess their overall needs and determine the appropriate level of coverage before making any decision to downgrade or drop their riders.

Dr Kachroo said: "We understand that customers need to strike a balance between premium affordability and protecting themselves from potentially high medical costs in the future. While they may enjoy immediate cost savings when they switch to a plan that offers lower premiums, they also need to consider what they might need to pay in cash from their own savings when they require hospitalisation given that the deductible is no longer covered and the co-payment cap has increased. This is a personal choice, and our role as an insurer is to ensure that our customers fully understand the coverage and benefits that they enjoy with their plans, as well as the implications of downgrading or dropping coverage, so that they can make an informed decision."

[1] Between 1968-1972 and 2019-2023, the crude incidence rate (CIR) of cancer approximately tripled for males and quadrupled for females. Source: https://www.nrdo.gov.sg/docs/librariesprovider3/default-document-library/singapore-cancer-registry-annual-report-2023.pdf?sfvrsn=a4703e8e_2

[2] The number of acute myocardial infarction episodes increased from 9,124 episodes in 2012 to 13,137 episodes in 2022. Source: https://www.nrdo.gov.sg/docs/librariesprovider3/default-document-library/smir-annual-report-2022_web_final.pdf?sfvrsn=31b0f9c1_1

[3] The Singapore Stroke Registry showed that the number of strokes increased from 6,143 episodes in 2011 to 9,680 episodes in 2021. Source: https://www.nrdo.gov.sg/docs/librariesprovider3/default-document-library/ssr-annual-report-2021_web.pdf?sfvrsn=7d63ee29_0

[4] Extra Cover for Early to Late Critical Illness benefit​:
PRUExtra Premier Care: $100,000 additional limit per policy year​
PRUExtra Preferred Care: $100,000 additional limit per policy year​
PRUExtra Plus Care: $50,000 additional limit per policy year​

[5] To qualify for a panel claim, treatment must be received at a private panel healthcare institution where the attending doctor is listed as a participating specialist, as indicated in the PRUPanel Connect listing on this page: https://www.prudential.com.sg/ppc-specialists

[6] For more information on claims-based premium pricing, please visit: https://www.prudential.com.sg/products/health-insurance/medical/claims-based-pricing

https://www.prudential.com.sg/

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.

Advanced Technology for Learning, Meetings, and Collaboration

• MAXHUB XBoard V7 Interactive Flat Panel

• MAXHUB All-in-One Interactive LED Wall (Raptor Series V3)

• MAXHUB CMA Series All-in-One Displays

Reducing Complexity and Supporting Operational Efficiency

A Vision for Future-Ready Collaboration

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

• Data Residency Control: Region-locked provisioning and DPTM-aligned deployments that support local regulatory requirements.
• Modular Deployment: Incremental adoption of network, security, and compute modules for seamless integration into existing environments.
• Governance and Standardisation: Consistent architectural patterns across teams, reducing configuration drift and audit overhead.
• Cost Predictability: Built-in controls that support region-aware resource management and predictable scaling.

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.

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