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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

DMX revenue mix for 4M2026. Source: DMX

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

More information: www.onyx-hospitality.com

Trusted AI Assurance — Giving Singapore Businesses a Foundation to Scale AI

For Singapore businesses, the ambition to scale AI is rarely the obstacle. What is harder — and more consequential — is the question of whether the AI they are building and deploying can genuinely be stood behind: by their boards, by their customers, employees and by the regulators and partners they will encounter as they grow beyond Singapore's shores.

KPMG's Trusted AI Assurance offering (the "Trusted AI Assurance") was developed in response to the need to address the trust deficit with AI in the business community to boost adoption. It is not a certification exercise or a compliance checklist. It is a rigorous, evidence-based independent assessment that gives leadership teams an honest picture of where they stand — and a clear, practical path to where they need to be.

What makes it meaningful is its specificity. The Trusted AI Assurance is calibrated to each organisation's sector, operating context and growth ambitions — because a financial institution navigating cross-border data regulation faces a fundamentally different set of questions from a manufacturer embedding AI into operational workflows, or a healthcare provider deploying AI-assisted diagnostics. Generic benchmarks serve neither well.

The assessment examines two things that are often conflated but must be considered separately: whether an organisation has the governance, culture and leadership practices to deploy AI responsibly; and whether the AI solutions it has built or acquired are themselves trustworthy — documented, risk-assessed, well-integrated and performing as intended. An organisation can have the right intentions and still be running AI that falls short of what its stakeholders — or another country's regulators — would accept.

Across four domains, the Trusted AI Assurance examines what genuinely matters:

AI Governance — Whether the frameworks, operating models, policies and procedures that govern AI are real and embedded, not aspirational documents that sit untouched between audits.

AI Systems — The AI systems themselves: how they are documented, how risks are inventoried, how models are integrated into business workflows, and whether the data foundations — including Retrieval-Augmented Generation, pipelines and datasets — are robust enough to be relied upon.

AI Regulatory Compliance — How prepared an organisation is for the regulatory environments it currently operates in, and those it intends to enter. For Singapore businesses with expansion ambitions, this is often where the most important gaps surface: the Trusted AI Assurance can identify whether a specific AI system meets the requirements for deployment in a given market — such as the European Union — or what adjustments would make it so.

AI Security — The strategies and processes in place to protect AI systems, manage privacy, and ensure the organisation can detect, respond to and recover from threats as they evolve.

The stakes are sharpest for businesses in highly regulated sectors. Financial institutions, healthcare providers and infrastructure operators have long been accustomed to navigating complex compliance environments — and Singapore's AI governance frameworks are among the most developed in the region. But as the EU AI Act moves into full enforcement, a new and specific set of expectations is taking effect for any organisation deploying AI within European markets, or handling the data of European citizens. What satisfies regulators here does not automatically satisfy regulators there.

The reality is one of regulatory diversity: different jurisdictions are building their AI governance regimes at different speeds, with different emphases, and with different evidentiary requirements. A Singapore company that has passed relevant local standards may still find that its AI systems require different documentation, greater explainability, or additional human oversight controls to operate with compliance and trust in a European context. Discovering that gap in the middle of a market entry, a cross-border partnership or a regulatory review is a risk that can be avoided.

The Trusted AI Assurance maps these jurisdictional differences, giving organisations a clear read of where they stand against the specific requirements of markets they are entering — before those requirements become obstacles. It is aligned with globally recognised standards including the EU AI Act, the NIST AI Risk Management Framework, ISO 42001 and Singapore's Model AI Governance Framework, ensuring that what organisations build here is credible and defensible everywhere.

The Trusted AI Assurance is coupled with consultancy guidance — from KPMG or partnered stakeholders — ensuring every assessment leads to a practical path forward. The intent is to give Singapore businesses the clarity and confidence to grow their AI ambitions without having to rebuild trust from scratch in new markets they enter into regionally or globally.

A Framework for Singapore's AI Ambition: The Four Doors

Beyond the Trusted AI Assurance, organisations can leverage the AI CoE to assess their broader AI strategies through KPMG's Four Doors framework — four strategic pillars that help Singapore businesses move from isolated pilots to trusted, sustained AI at scale. Together, they address what it takes for Singapore to be not just an AI-capable nation, but a globally trusted one: where the AI solutions developed and deployed here meet the expectations of regulators, partners and customers worldwide.

Value — From Activity to Impact: Establishing the clear metrics and sector-specific solutions needed to distinguish AI activity from measurable business value, across Financial Services, Government, Healthcare, Real Estate, Infrastructure and Manufacturing.

Trust — Trusted-by-Design AI: Built on a human-centric foundation encompassing ten ethical pillars — including Fairness, Transparency, Accountability, Privacy and Sustainability — the Trust pillar puts responsible governance at the centre of AI strategy, rather than treating it as a compliance afterthought.

People — Genuine AI Fluency: Covering sustainable AI workforce strategy, job redesign, leadership development and change management — from executive ignition sessions that build board-level commitment to the behavioural shifts needed to embed AI into everyday working practices.

Data and Technology — Scalable Foundations: Establishing the trusted data and technology infrastructure that enterprise AI requires, supported by KPMG's proprietary platforms and a market-ready suite of AI tools, with rigorous attention to data quality, system integration, product development and enterprise-wide AI deployment.

For Singapore's business community, the Four Doors offer a structured path to becoming AI-trusted — not just AI-active. As global regulatory standards tighten and international partners raise governance expectations, that distinction will increasingly determine which Singapore enterprises are positioned to lead in the markets they enter.

Building AI Capability in Singapore

The Trusted AI CoE (the "CoE") is designed to function as a capability hub to support Singapore's position as a trusted node in the global community — co-creating knowledge, accelerating innovation and strengthening Singapore's AI ecosystem across the business community, academia and the public sector.

At its core is a dedicated innovation team of AI/Software Engineers, Solution Architects, Data Analysts, Product Managers, Tech Business Analysts and Designers — 100 per cent Singapore-based and locally hired. This specialist nucleus is complemented by KPMG's 3,600-strong Singapore workforce and over 275,000 professionals globally, giving the CoE both deep technical capability and multi-disciplinary reach across Audit, Advisory and Tax.

Solutions co-developed through the CoE are pressure-tested with KPMG as default "Client Zero" where appropriate — rigorously iterated across the firm's own operations before being brought to clients. Initial focus sectors include Financial Services, Infrastructure and Logistics, Manufacturing, Government, Healthcare and Real Estate, alongside functional domains such as Finance, Governance Risk and Compliance, Customer Services and Operations. Strategic partnerships with technology companies, academic institutions and government agencies further support Singapore's ambition to serve as a trusted and well-governed regional AI hub.

KPMG's Commitment to Singapore

KPMG is the world's first professional services firm to attain ISO/IEC 42001 certification for AI Management Systems — the globally recognised standard for responsible AI governance. This underpins every element of today's launch, reflecting KPMG's commitment to practising what it advocates: embedding the disciplines of trusted AI governance into its own operations before bringing them to clients.

KPMG continues to invest in Singapore's AI talent pipeline through international mobility programmes, internal rotations and capability development across data, digital and leadership disciplines — directly aligned with Singapore's national goal of growing the skilled workforce its AI ambitions require.

ANNEX: Bringing the KPMG Singapore Trusted AI Centre of Excellence to Life

To bring the KPMG Trusted AI Centre of Excellence (AI CoE) to life, guests at the launch were invited to explore four interactive stops ("windows") showcasing how trusted AI can move from strategy into real-world enterprise and national impact.

Spanning areas including governance, workforce readiness, ecosystem collaboration and SME enablement, the windows offered a practical look at how organisations can scale AI responsibly while building trust, resilience and long-term capability.

FIRST WINDOW – AI Philosophy

The first window introduced guests to KPMG's Four Doors framework and Trusted AI Assurance – an evidence-based approach designed to help organisations move from AI experimentation to AI that is genuinely trusted by their boards, their customers, and the regulators and partners they encounter as they grow beyond our shores.

Through an interactive scenario set in the financial services sector, the demonstration illustrated how organisations are assessed across four strategic pillars: Value, Trust, People, and Data and Technology. The walkthrough explored whether businesses have the governance structures, workforce readiness, data foundations and operational oversight needed to support trusted, scalable AI deployment.

1. Value — Whether the organisation has clearly defined what its AI investments are meant to deliver, and whether it has the metrics to distinguish genuine business impact from mere AI activity
2. Trust — Whether the organisation's AI is built on a responsible, human-centric foundation — covering governance frameworks, ethical guardrails, risk management, security and accountability for AI-driven decisions
3. People — Whether the workforce, from board to frontline, has the genuine AI fluency needed to work alongside AI systems, including the leadership commitment, job redesign and capability development required for adoption to take hold
4. Data and Technology — Whether the data assets, infrastructure and system integration practices are robust enough to support trusted, scalable AI deployment

The experience also demonstrated how AI systems themselves are assessed – including areas such as system documentation, risk inventories, model integration and data platform robustness – highlighting the importance of building AI that is genuinely trusted.

1. System Card — Whether each AI solution is properly documented, including how it performs and how it is used in practice
2. Risk Inventory — Whether AI systems across the enterprise have been identified and their risks catalogued
3. Model Integration — Whether adequate processes and controls govern how AI models are integrated into business workflows
4. Data Platform — Whether the data foundations underpinning AI outputs — including Retrieval-Augmented Generation (RAG) pipelines and datasets — are fit for purpose

A second stage of the scenario then explored the reality of regulatory diversity across jurisdictions. While an organisation may be assessed as "trusted" in Singapore, areas that require attention may emerge when expanding into international markets such as Europe under the EU AI Act.

The demonstration underscored the growing importance of regulatory readiness for Singapore businesses with international ambitions, and how the AI CoE is designed to help organisations expand with confidence through trusted AI governance.

SECOND WINDOW – AI Journey

The second window focused on KPMG's "Client Zero" approach, where suitable AI solutions are developed and applied within its own operations under real-world conditions, and in some cases co-developed with clients depending on their specific needs. This model reflects a simple philosophy: credibility in guiding responsible AI adoption must be earned by applying the same discipline internally. This approach is particularly relevant in Singapore's context, where trust and reliability are central to how AI is being adopted across sectors.

KPMG's "Client Zero" approach provides a structured pathway for scaling AI responsibly. Solutions are first embedded into live workflows – allowing organisations to address practical considerations such as human oversight, explainability, data handling and accountability – before broader deployment. This mirrors the journey many enterprises in Singapore are now facing, as they transition from pilots to AI that can be relied on consistently in regulated, cross-border environments. This shift is important, as trust at scale is built not through experimentation alone, but through systems that are reliable, auditable, and able to operate consistently across different contexts.

At this window, MOS will see this pathway brought to life with AI applied across real business workflows, through three solutions: KPMG's Digital Gateway (DG) GenAI, KPMG Clara Intelligence and Kiara. These solutions are already implemented in real-time across KPMG's various functions.

The first demonstration illustrates how the audit and tax professions are beginning to deploy AI agents within their workflows to enhance how work is performed. Rather than treating AI as standalone tools, these capabilities are being embedded into business processes to support analysis, decision-making and execution in a controlled and accountable manner. DG GenAI, KPMG's Generative AI capability embedded within our Digital Gateway platform, will be used as a demonstration of how this is operationalised in practice — showing how AI capabilities can be integrated into everyday workflows, with appropriate governance, data security and user controls in place.

The second demonstration presents KPMG Clara Intelligence, an intelligent AI-powered platform which acts as a centralised platform. KPMG Clara Intelligence showcases the future of audit, where AI is used to support data-driven risk assessment, better insights and analysis and decision-making on a single platform. This reduces reliance on manual processes and enables auditors to focus on higher-value judgement, improving both efficiency and audit quality. MOS will see how this reflects a broader shift in the profession — towards AI-assisted workflows that require new skills and deeper analytical capabilities.

This window also highlighted how AI is reshaping the accountancy and professional services sector. As AI becomes embedded into core workflows, roles within the profession are evolving — routine, manual tasks are increasingly automated, allowing professionals to focus on higher‑value judgement, analysis and advisory work. At the same time, this shift requires a broader base of AI fluency across the workforce, not just among specialists, as professionals will need to work alongside AI systems in their day‑to‑day roles.

These changes are driving a wider rethinking of skills development across the sector, including how institutions and employers prepare current and future talent. Efforts are underway to align training and education pathways with these evolving needs, ensuring that individuals entering the profession — and those already in it — are equipped to operate effectively in an AI‑enabled environment. This reflects a broader transition towards a workforce that combines strong domain expertise with AI capabilities, in line with Singapore's ambition to develop an AI‑bilingual workforce.

The third solution, Kiara, is KPMG's GenAI recruitment assistant, illustrating how AI can enhance the candidate engagement and streamline scheduling of interviews. This highlights how AI is not only transforming business processes, but also how people work and interact with technology.

Overall, the window demonstrated how these solutions reflect the same principles KPMG advises its clients to adopt: strong data foundations, embedded governance, and human oversight at key decision points – illustrating the practical steps organisations take to deploy AI responsibly at scale, underpinning the rigour required for Singapore to continue its progress as a trusted hub for AI.

THIRD WINDOW – AI Vision

The third window focused on how AI does not merely change the tools organisations use, but changes the nature of work itself – which roles exist, how decisions are made, and what it means to be genuinely capable in a professional environment.

As organisations navigate AI-driven workforce transformation, the showcase highlighted the same set of questions organisations consistently grapple with: which roles are genuinely enhanced by AI, and which risk being hollowed out? Where should organisations invest in reskilling, and on what timeline? How are accountability and professional standards maintained when AI is embedded into decisions that used to rest entirely with a person?

The insight that emerges across sectors is consistent: organisations that treat AI workforce transformation as a technology deployment tend to underinvest in the human dimensions – and that is where adoption stalls, quality erodes or trust breaks down. The organisations that get it right treat it as a leadership and organisational design challenge first, with technology as the enabler.

The window also demonstrated how KPMG Mystro™, an AI-enabled workforce intelligence platform, is used to map how work is done today at the task and decision level, and model where AI can responsibly augment human roles across functions such as finance, audit and operations.

Drawing on examples from finance, audit and operations, the showcase illustrated professionals working alongside AI in ways that redirect their expertise toward work requiring human judgement. More broadly, it reinforced the importance of approaching AI transformation not simply as a technology deployment exercise, but as a broader leadership and organisational design challenge.

Singapore's commitment to building an AI-bilingual workforce – professionals who are not merely aware of AI but genuinely capable of working alongside it, questioning its outputs and being accountable for the decisions it informs – rests on organisations taking the human dimension of transformation as seriously as the technology itself. The insights at this window speak directly to that agenda: what it takes to build not just AI capability, but the kind of AI-confident workforce that sustains Singapore's competitiveness over the long term.

FOURTH WINDOW – AI Ecosystem

The fourth window focused on how trusted AI adoption cannot be the preserve of large enterprises alone. Singapore's economic resilience depends on its SME community — the businesses that form the backbone of the economy and that stand to gain enormously from AI, but that often lack the resources, expertise or confidence to navigate adoption responsibly.

Referencing the DBS Spark GenAI programme and DBS SME AI Playbook – developed through a collaboration between DBS and KPMG, and supported by SkillsFuture Singapore – the showcase highlighted practical pathways designed to help SMEs build awareness and accelerate their AI adoption through tailored pathways depending on their AI maturity.

1. Start — For businesses at the beginning of their AI journey: practical orientation on what AI can realistically deliver, where to begin, and what foundational steps to take before committing to more significant investment
2. Accelerate — For businesses that have taken initial steps and are ready to move further: guidance on identifying higher-value use cases, building internal capability and managing the operational changes that come with deeper AI adoption
3. Scale — For businesses ready to embed AI more systematically: the governance, integration and workforce considerations that responsible scaling requires

The window also highlighted the broader support ecosystem available to SMEs, including a broader ecosystem of over 16,000 solution providers globally via IMDA's Open Innovation Platform, alongside the SME AI Playbook which offers practical use cases, success stories from real businesses, FAQs and an AI readiness diagnostic tool.

Economy-wide AI adoption – the kind that drives meaningful productivity gains across the full breadth of Singapore's business community – only happens if SMEs are part of the story. The DBS SME AI Playbook is a direct response to that reality: a practical, accessible entry point into AI adoption calibrated to the real constraints and real ambitions of smaller businesses.

The collaboration between DBS and KPMG reflects how Singapore's AI ecosystem works at its best: financial institutions, professional services firms, government platforms and businesses working together to make trusted AI adoption accessible to every part of the economy, not just its largest players.

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

For more details about our structure, please visit kpmg.com/governance.

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

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

The building is linked to both Raffles Place and Downtown MRT stations via fully sheltered underground walkways, allowing members and their visitors to reach the office without exposure to Singapore’s heat or rain.

Unlike other industry players, CoWorkSpace owns the property it operates from. This owner-operated model provides members with the option of medium to long-term price stability and reduces the risks commonly associated with leased coworking spaces, such as sudden closures, forced relocations, and aggressive rental increases.

The facility is configured mainly as private suites, with no hot-desks and no virtual office members. Members on dedicated-desk arrangements are situated within private suites, providing greater privacy and a more professional working environment.

Each suite is equipped with electronic height-adjustable desks, modern office chairs, and pedestal cabinets according to the suite configuration. Data points are also included within each suite.

Shared facilities include an expansive business lounge, business-grade internet, reception services, meeting rooms and call booths, printing, scanning and shredding facilities, and utilities.

In addition, CoWorkSpace operates an in-house IT team that manages its network and infrastructure directly, enabling faster response and turnaround times for IT-related matters without relying on third-party vendors.

https://www.coworkspace.com.sg/

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

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

At the ASUS booth, visitors will experience a broad spectrum of AI innovation spanning multiple domains, including Workspace AI, Industrial AI, Everyday AI, Creator AI, Healthcare AI, and Gaming AI. These showcases demonstrate how ASUS is expanding AI beyond individual devices into intelligent ecosystems that support productivity, creativity, mobility, entertainment, and specialized industry applications.

A major focus this year will be Everyday AI, featuring the latest ASUS consumer laptops designed for modern lifestyles. ASUS will preview upcoming additions to its premium ASUS Zenbook and ASUS Vivobook families, combining refined design, portability, immersive displays, and AI-enhanced experiences tailored for work, creativity, learning, and entertainment. Visitors can also expect new design expressions and lifestyle-focused innovations that continue ASUS's commitment to blending technology with personal expression.

ASUS will also preview a new generation of agentic AI solutions designed to make AI more practical, approachable, and useful in everyday scenarios. Built around simplicity and intuitive interaction, these experiences are designed to help users engage with AI more naturally — enabling intelligent assistance that can understand intent, streamline tasks, and adapt dynamically across different workflows and environments. More details will be revealed during Computex.

The ASUS exhibition will take place from June 2–5, 2026, at Taipei Nangang Exhibition Center, Hall 1 (4F), Booth M0820.

ASUS invites audiences worldwide to visit the ASUS Computex site, where the latest AI innovations for creators, professionals, and gamers will be unveiled on June 2, 2026.

ASUS Pressroom: https://press.asus.com
ASUS Global Facebook: https://www.facebook.com/asus
ASUS Global X (Twitter): https://www.x.com/asus
ASUS LinkedIn: https://www.linkedin.com/company/asus/posts/

SK Innovation E&S announced that it successfully hosted the 'MAJU:ON Final Demo Day' on May 21 at the Garuda Spark Innovation Hub in Jakarta, Indonesia.

The 'MAJU:ON' project is a youth entrepreneurship support initiative in the energy and environmental sectors that SK Innovation E&S has operated in Indonesia since 2025, in collaboration with Korean ESG solution company UD Impact. The 'Demo Day' event was organized to showcase the achievements of the first cohort of startup teams participating in the MAJU:ON program.

The event featured congratulatory remarks from distinguished guests, a special lecture by industry experts on energy transition and AI technologies, business model presentations and an awards ceremony for 10 startup teams, as well as one-on-one investment consultation sessions with venture capital firms.

The event was attended by key representatives from Indonesia's Ministry of Energy and Mineral Resources (ESDM), Ministry of Investment (BKPM), Ministry of Micro, Small, and Medium Enterprises (UMKM), Ministry of Communication and Digital Affairs (KOMDIGI), and the Embassy of the Republic of Korea in Indonesia, along with representatives from eight regional hub universities and ANGIN (Angel Investment Network Indonesia), one of Indonesia's leading venture investment networks. Approximately 200 people attended the event.

Dr. Ir. Hariyanto, Chief of Planning Bureau at Indonesia's Ministry of Energy and Mineral Resources, stated, "We express our highest appreciation and will continue to support young entrepreneurs who drive innovation in the energy sector". He added, "We also commend SK Innovation E&S for its outstanding contribution in preparing future leaders in the energy field" in a congratulatory speech delivered during the event.

Five teams, including three grand prize winners and two special award recipients, were selected based on a comprehensive evaluation – combining scores from a panel of expert judges and the results of a mock investment session conducted by the audience. During the mock investment session, audience members allocated virtual investment funds to the startup teams they considered most promising after listening to their presentations.

The top honors were awarded to teams GISACT, AIGRA, and Lifeguards. Among them, team GISACT, which won the first place, drew particular attention for its spatial intelligence platform that supports optimal decision-making through data-driven analysis of complex geographic information across fields ranging from disaster response to agriculture. The judging panel highly commended GISACT for its differentiated competitiveness, noting that the team had set itself apart from existing solutions through its outstanding technological capabilities.

The first-place team, GISACT, received a prize of USD 4,000. The second-place team, AIGRA, which presented an AI-based agricultural produce spoilage prevention system, and the third-place team, Lifeguards, which introduced a technology to extend the freshness of fruits and vegetables, received USD 2,500 and USD 1,500, respectively.

A total of five winning teams, including two special award recipients – Aruponic and WearaTech – will have the opportunity to engage in global networking with young Korean entrepreneurs at the Korea-Indonesia joint conference scheduled for September. In addition, subject to eligibility review, they may also receive interest-free loans totaling KRW 20 million through a fund jointly established by UD Impact and ANGIN.

Anjar Dimara Sakti, CEO of GISACT, said, "Through the MAJU:ON project, we were able to turn our idea into a concrete business. We believe this experience will serve as an important turning point in taking our business to the next level." He added, "We are deeply grateful to SK and UD Impact for the support that has enabled young Indonesian entrepreneurs to pursue their goals and expand their dreams of entering the global market."

Over the past 10 months, SK Innovation E&S has identified and fostered approximately 130 startup teams and around 460 young Indonesian entrepreneurs in the energy and environmental sectors through the MAJU:ON project. In August of last year, the company signed memoranda of understanding with eight regional hub universities and recruited participating teams, providing them with a four-week startup support program. In November, it subsequently hosted a startup hackathon. The 10 outstanding teams selected through the competition received advanced entrepreneurship and management training, as well as opportunities to engage with key Indonesian government officials and energy-sector experts through the 'Networking Day' program.

Following the successful outcomes of the MAJU:ON program, SK Innovation E&S plans to continue supporting the development of young Indonesian entrepreneurs through future initiatives, including the launch of the second cohort of the MAJU:ON program.

Shon Dong-kun, President Director of SK Innovation E&S Indonesia, said, "Through the MAJU:ON project, we witnessed the tremendous potential of young Indonesian entrepreneurs. We hope this program will serve as a bridge connecting the industrial ecosystems of Indonesia and Korea."

SK Innovation has continuously invested in Indonesia across key industries, including energy and resource development. In particular, the company invested in Indonesia's Tangguh gas field in 2006 and has since imported liquefied natural gas (LNG) produced in Indonesia through long-term contracts. In 2025, SK Innovation also secured three exploration blocks – Serpang, Binaiya, and North Ketapang – through a government-led bidding process and is currently advancing resource development projects in the region.

The transaction provides 1291 Group with onshore access to the US market, the largest life insurance market in the world, together with access to US-domiciled insurance carriers and products.

The acquisition accelerates 1291 Group's growth across the Americas, deepens its exposure to traditional life insurance, and complements its established expertise in tailored solutions, while bringing IPG's existing client and partner relationships into the Group.

For high-net-worth families worldwide with a US nexus, it enables the Group to provide more support and greater depth in creating structures that are compliant and built for the long term.

IPG is a pioneer of the international life insurance industry, specializing in sophisticated life insurance-based strategies for wealth structuring for high-net-worth families, as well as executive benefit solutions for companies worldwide.

1291 Group Americas will temporarily operate IPG under its current brand as a wholly owned subsidiary. This ensures seamless continuity for clients and advisers. Financial terms are not being disclosed.

Marc-Andre Sola, Founder of 1291 Group, said: "We are honored to continue the legacy of this pioneering company that has played such a significant role in traditional life insurance across the Americas, Asia and the Middle East. By bringing our respective strengths together, we are creating a far stronger platform with greater reach and capability for the families and advisers we serve."

Jon Baker, Founder of IPG, commented: "I am confident that 1291 Group is the right step for our clients, our team, and the relationships we have carefully cultivated. The businesses are highly complementary, with a shared culture of placing the needs of clients first. I look forward to the continued service and stability that will follow."

Peter Guglietta, CEO of 1291 Group Americas and Group Head of Products (previously with IPG for 19 years), added: "I am both thrilled and humbled to lead the new business in the Americas. This acquisition will yield an organization unmatched in the industry. We remain focused on delivering seamless continuity while leveraging enhanced capabilities to serve clients across the Americas."

Leading the Digital category is Tiger Singapore's 'Our Roar, Our Way', a powerful celebration of Singapore's SG60 milestone that captured national pride through a contemporary and distinctly local lens. Prada Australia's 'Hero PDX Lip Balm Gifting' and Penfolds Australia's 'Once Tasted, Never Forgotten' take second and third place, respectively.

In the TV category, Volkswagen Australia claimed the top spot with "The all-new Tayron - Why the long car?", an inventive campaign that elevated a product showcase beyond the standard auto tropes using transmedia innovation with their living print ad. KitKat India's "Break par sirf KitKat Break!" and Cadbury Chocobakes Cakes India's "Chocobakes Santa Film" round up the TV top three.

Notably, all top three winners in both the TV and Digital categories also secured recognition at the Global Kantar Advertising Effectiveness Awards earlier this year, underscoring APAC's growing influence as a global centre of creative excellence.

This year, the Awards also celebrated Campaign Effectiveness and the power of Creators through the Architect of Influence award.

Key Themes Driving Advertising Effectiveness and Fuel Connections in APAC:

Analysis of this year's winning campaigns revealed three common principles behind the region's most effective advertising:

1. Driving difference through deeper connection: The strongest campaigns built meaningful difference by creating immersive worlds and drawing on authentic human truths. By reflecting real experiences and emotions, brands made audiences feel understood while strengthening distinctiveness.
2. Elevating everyday moments into extraordinary experiences: Many winning campaigns transformed familiar situations into memorable brand experiences through emotional storytelling, rich sensory cues, and heightened creative execution, making ordinary moments feel more meaningful.
3. Breaking patterns to capture attention: Successful campaigns challenged conventions by subverting audience expectations. From creator-style content to television ads designed to resemble static imagery, these campaigns used surprise and disruption to spark engagement and drive stronger brand connections.

Commenting on the results, Irene Joshy, Head of Creative, APAC at Kantar said "Across APAC, the most effective advertising today is no longer just about capturing attention, it is about creating emotional immediacy and cultural resonance in ways that feel both authentic and unexpected. What stands out from this year's winners is their ability to make people feel deeply seen, whether through hyper-local storytelling, elevated everyday moments or by breaking familiar creative conventions altogether. In an increasingly fragmented and algorithm-driven media landscape, these campaigns demonstrate that effectiveness comes from combining creativity with human understanding, building experiences that audiences don't just watch, but genuinely connect with and remember."

2026 APAC Advertising Effectiveness Awards Winners: TV

2026 APAC Advertising Effectiveness Awards Winners: Digital

APAC Dominates New Global Campaigns Category

The newly introduced Campaigns category at the Global Kantar Advertising Effectiveness Awards found strong APAC representation. Three inaugural winners, including the first place, are all from the region.

Campaigns:

L'Oréal Receives Inaugural Architect of Influence Award

Kantar also launched the Architect of Influence Award in APAC, recognising brands that consistently deliver highly effective marketing at scale. The inaugural award was presented to L'Oréal in recognition of its sustained excellence in creative effectiveness and its ability to build influence across multiple campaigns and markets.

Zhou Jianjun, Vice President of Huawei and President of Global Marketing, Sales and Services, Huawei Digital Power, stated that residential and C&I sectors are leading the clean energy transition. Huawei strengthens capabilities and empowers partners, delivering cost-effective PV and energy storage system (ESS) solutions.

Xia Hesheng, Chief Marketing Officer (CMO) of Huawei Digital Power, emphasized Huawei's core values of customer-centricity, dedication, and persistence. Huawei Digital Power prioritizes quality in products and services across the entire lifecycle, collaborating with global partners to drive excellence.

Jack Tong, President of Residential and C&I Marketing and Sales Service, Huawei Digital Power, unveiled Huawei FusionSolar C&I strategy and new products. The One-Fits-All 2.0 solution reduces the levelized cost of electricity (LCOE) and ensures safe, reliable power from generation to consumption, achieving higher levelized benefit of electricity (LBOE).

Allen Zeng, President of Technical Service & Operation Dept, Huawei Digital Power, noted that Huawei Digital Power's service teams synergize services and equipment, and combine premium quality, reliable O&M, and performance assurance to ensure long-term success.

Huawei FusionSolar solution expert team introduced tailored solutions for large-, medium-, and small-scale projects, and explored the innovative application of the PV+ESS+charger integrated solution. Based on AI technologies, they offered insights, strategies, case studies, and marketing methodologies to empower global visionaries.

14 global visionaries shared insights and practices for key C&I application scenarios, including supermarkets, hotels, cold chain, logistics, manufacturing, and business parks, spanning solution design, project execution, and value-added operations, to boost efficiency, build sustainability, and enhance customer value.

• In the Netherlands, the fire department secured safer, sustainable energy.
• In Myanmar, a beverage factory improved efficiency and cut costs.
• In Germany, a business park overcame transformation challenges, ensuring operational excellence, and the local logistics industry gained tangible benefits.
• In Malaysia, a battery factory achieved reliable green power in harsh environments.
• In Pakistan's mountains, a hospital gained 24/7 stable power supply, safeguarding lives.
• In Chile, a factory ensured uninterrupted production with lower electricity costs.
• In Brazil, a supermarket guaranteed reliable power, pioneering retail energy applications.
• In Mexico, a food factory reduced electricity costs, achieving higher energy efficiency.
• In Kenya, schools embraced green energy, lighting the path to low-carbon education.

C&I visionaries drive inclusive energy access, green transformation, and high-quality growth. The summit united global leaders to align real-world needs with innovation, accelerating PV+ESS+charger adoption. Huawei Digital Power, guided by openness and shared success, will deepen partnerships and advance sustainable industry development to shape a greener future.

Learn more about the summit at Huawei Digital Power's official website:
https://solar.huawei.com/en/news/2026/huawei-successfully-hosts-the-3rd-global-c-i-visionaries-summit/

The IDI Laser Marker launches with 6 OSAT deployments throughout Asia, and leverages advanced technology contributed by:

• The pre-eminent public research institution in Singapore for industrial research; and
• ISDN Holding's 20-year experience in providing automation engineering and systems for the semiconductor industry.

In head-to-head evaluations against widely deployed industry configurations, the IDI Laser Marker achieves marking speeds up to 2.5 times faster, delivering substantially higher units per hour, while occupying 22 percent less cleanroom floor space. The gains are based on benchmarking using representative OSAT strip formats and standard mark content, with cycle time measured end to end including strip handling.

By increasing marking speed and decreasing floor space, IDI's Laser Market delivers a 3.2x increase in marking productivity per square foot. Floor space has become a critical issue for the semiconductor industry in light of both:

• The rapid growth in demand for chips as a result of AI adoption; and
• The rapidly-rising costs of constructing new clean room factories necessary for producing advanced semiconductor chips.

As a result, IDI has delivered a next-generation marking system aimed at maximising the manufacturing productivity of valuable existing clean room space.

The Laser Marking platform also responds to widening traceability requirements in automotive and industrial electronics, where permanent laser marking is increasingly mandatory. Every system includes a two-year software customisation and support programme covering factory automation integration, handling adaptation, and evolving compliance coding.

"We developed the advanced IDI Laser Marker because our OSAT customers told us that floor space and throughput are now fundamentally integrated, as manufacturers look to maximise output with the smallest economical floor footprint," said Chris Chan, Managing Director of IDI Dynamics. "Our new Laser Marking platform is already delivering this value proposition of the 6 units at launch, and we are pleased to be on the forefront of enabling the next generation of advanced chip manufacturing in the global market".

Teo Cher Koon, Managing Director and President, added that "IDI's Laser Marking solution is an example of how ISDN's 'full stack' approach to technology and 30 years of serving the semiconductor industry can create powerful collaboration to bring advanced technology to our customers throughout Asia. The IDI Laser Marker product combines cutting-edge research from a pre-eminent research institution with ISDN's decades-long experience with semiconductor and OSAT customers, and a focused entrepreneurial team at our IDI Dynamics subsidiary to bring compelling innovation into the semiconductor market at a time when the industry needs help scaling manufacturing productivity to meet skyrocketing demand.

IDI Dynamics is part of a broad range of strategic solutions that ISDN builds and deploys in the semiconductor industry today, ranging from critical components to full systems and products like the Laser Market today. Our semiconductor solutions are amongst most exciting and fast-growing businesses at ISDN Holdings today."

For more information, please visit www.isdnholdings.com.

At the event, GCL SI and Getz Energy Company Limited (Getz), a wholly-owned subsidiary of Global Power Synergy Public Company Limited (GPSC), signed a Memorandum of Understanding (MOU) covering the planned supply of up to 1 GW equivalent of photovoltaic modules over the next three years, supporting the expansion of solar generation capacity in Thailand.

The agreement aligns with GPSC's long-term renewable energy strategy while strengthening Getz Energy's role in Thailand's growing clean energy market through utility-scale solar projects and intelligent energy management solutions. The partnership also reinforces both companies' focus on next-generation solar technologies and regional energy infrastructure development.

Under the agreement, GCL SI will supply its photovoltaic modules and battery energy storage systems for large-scale solar and hybrid solar applications. Deliveries are expected to be phased to match construction and grid connection schedules, ensuring timely module supply throughout project execution.

Showcasing Advanced Module Technologies at Getz Open House

At the exhibition, GCL SI showcased several flagship products, including the SiRo T Series NT12/66GDF module, as well as the SiRo B Series NR12R/66GDF and NR10R/54BGDF modules. Corresponding solar cells were also displayed alongside the modules, giving visitors a closer look at GCL SI's latest cell technologies and manufacturing capabilities.

Designed for utility-scale and industrial applications, the SiRo T series integrates advanced TOPCon 2.0 technology, bifacial power generation capability, enhanced operational stability, and long-term durability to support reliable energy output under demanding real-world operating conditions. Optimized for industrial rooftops, large-scale solar installations, and high-temperature environments, the series is engineered to deliver stable, cost-effective performance across the project lifecycle.

Meanwhile, the SiRo B Series, built on GCL's advanced GPC technology, combines high conversion efficiency with enhanced visual integration for premium distributed solar applications. Featuring ultra-low reflectivity films, high-purity FBR granular silicon, and advanced passivation technologies, the series is engineered to deliver strong performance while maintaining a refined visual profile.

Expanding Renewable Energy Cooperation Across Southeast Asia

For Getz and GPSC, the power and energy flagship of the PTT Group, the agreement supports the continued growth of their renewable energy portfolio, with utility-scale solar serving as a key component of the group's long-term low-carbon generation strategy.

For GCL SI, the MOU further strengthens its presence in Southeast Asia's solar market and reinforces its position in Thailand's renewable energy market. The agreement also reflects the company's growing role in meeting regional demand for higher-efficiency photovoltaic technologies used in large-scale solar applications.

More broadly, the partnership highlights the rapid growth of utility-scale renewable energy development across Southeast Asia, where rising electricity demand, grid modernization, and decarbonization targets are driving investment in next-generation solar infrastructure.

On 24 May, H.E. Cao Zhongming, Ambassador of the People's Republic of China to the Republic of Singapore, accompanied by Counsellor Cai Shandi, attended the performance of the dance drama and spoke highly of the production. Following the performance, the Ambassador went on stage to express congratulations to the dancers.

International Premiere After Domestic Success

Produced and presented by Suzhou Cultural Investment and Development Group and He Sheng Dance Theatre, locally promoted by Willow Arts, the production arrives in Singapore after a hit tour of over 90 performances across 26 cities in China. Previously it was invited by the 54th Hong Kong Arts Festival as its closing performance, and it had a full house for every performance.

The staging marks a return to the Esplanade of Li Xing, the director and choreographer, recipient of China's coveted Wenhua Award for professional performing arts. His directorial works include the successful dance drama A Dream of Red Mansions, which was performed here in 2024.

A Tribute to a 400-Year-Old Literary Masterpiece

For this production, Li collaborated with Huang Jiayuan, an outstanding young director and choreographer, condensing Tang Xianzu's original script of a 55-scene opera into a two-act dance drama.

Widely regarded as one of China's four great theatrical masterpieces, Dream in Peony Pavilion (1598) was penned by Tang Xianzu, the playwright often celebrated as the "Shakespeare of the East". It tells the story of Du Liniang, who falls in love with a young scholar in her dreams and eventually wastes away, dying of her intense longing. Later, the scholar, Liu Mengmei, discovers Liniang's self-portrait, setting the stage for a romance that defies all odds.

Li Xing noted that he was drawn to adapt the work because Tang's profound belief in zhiqing (supreme love) continues to echo with modern youths, hailing the opera's pivotal dream sequence as the most breathtaking in Chinese literary history.

Departing from traditional kunqu opera staging, the production retains selected classical lyrics while entrusting the main narrative to the dancers' expressive choreography to overcome language barriers, allowing audiences to focus deeply on the characters' interior lives.

Communications Beyond the Stage

To complement the performance, the team engaged with local student communities ahead of opening night. On 21 May, the company hosted an artists talk at Nanyang Technological University (NTU) titled 'Classics in a Contemporary Context: To See the World, To Find Oneself', drawing a vibrant crowd in a relaxed and warm atmosphere.

During the session, director Huang Jiayuan shared her creative vision and stage aesthetics, while lead dancers Li Qian, Hu Jie, and Zhang Yin discussed how performing allowed them to 'see the world' through their characters and ultimately 'find themselves' within the dance. The panelists noted that bringing this 400-year-old Chinese story to Singapore was, in itself, a journey of 'seeing the world'.

Throughout the three-day performances, the excitement extended well beyond the stage. The Esplanade Theatre foyer was buzzing with activity as audiences explored several Singapore-exclusive memorabilia experiences. Hundreds of theatergoers arrived early to interact with full-cast character standees and dedicated photo opportunities. Long, enthusiastic queues formed as audiences waited to collect their commemorative tickets and get the souvenir stamp designed specifically for the Singapore tour, creating an undeniable fervor throughout the entire weekend.

An Ethereal and Immersive Dreamscape

On stage, the production's minimalist scenography—defined by diaphanous silks, mist, and shadow—conjured an ethereal dreamscape. The immersion was heightened by a structural extension of the pavilion that reached out directly into the auditorium, breaking "the fourth wall" and bringing the audience into proximity with the dancers.

The Singapore premiere of Dream in Peony Pavilion proves that masterpieces of this caliber are never confined by the eras of their creation or the borders of their origin. By bringing Tang Xianzu's grand romantic vision to the Lion City through a modern lens, the production achieves something remarkable: it turns a 400-year-old Chinese literary treasure into a shared, living experience for a multicultural audience. Ultimately, the performance demonstrates that although languages and artistic forms change, the raw power of human emotion remains universal.

The collaboration combines Emagene.life's functional medicine and AI-integrated health intelligence ecosystem with Adam Health's men's wellness platform to deliver a more personalized, measurable approach to male vitality, performance, recovery, and long-term health outcomes.

Despite advances in healthcare, many men continue to struggle silently with declining energy, hormonal imbalance, reduced libido, chronic stress, metabolic dysfunction, and accelerated aging — often without meaningful early detection tools or personalized health visibility.

At the center of the partnership is a shared mission: helping men understand what their bodies are communicating in real time, because many traditional healthcare models focus on symptoms only after decline has already occurred. So what this means to patients is earlier insight, more precise intervention, and measurable pathways toward improved energy, libido, hormonal resilience, metabolic health, recovery, and long-term vitality.

The partnership introduces an integrated ecosystem that combines:

• Functional medicine assessments and personalized longevity strategies
• Advanced biodata measurement and physiological tracking
• Adam Sensor data and AndroAge™ scoring for measurable men's health
• AI-assisted interpretation powered by Avio Health technology
• Precision wellness protocols designed around individual biomarkers and lifestyle patterns

The Adam Sensor is the world's first consumer device for at-home measurement of nocturnal erections - one of the best and earliest biomarkers of male cardiovascular, hormonal, and metabolic health. Nocturnal erection patterns can signal underlying dysfunction years before clinical symptoms appear, making them a uniquely powerful tool for proactive men's health. Sensor data feeds into AndroAge™, Adam Health's proprietary wellness score that translates complex physiological signals into a single, trackable measure of male vitality.

By integrating the Avio Health AI technology, Emagene.life aims to transform complex health data into actionable intelligence. Rather than relying solely on generalized wellness recommendations, patients gain deeper insight into biological patterns that influence male performance, cardiovascular health, stress response, sleep quality, recovery, hormonal balance, and sexual wellness.

Demand for personalized men's health solutions continues to rise globally as consumers become increasingly interested in longevity science, hormone optimization, preventative health strategies, wearable biodata tracking, and AI-assisted wellness technologies.

"The future of healthcare is shifting from reactive treatment to measurable optimization," said a spokesperson from Emagene.life. "Men are no longer looking only for symptom management — they want real insight into performance, recovery, hormones, metabolism, sleep, and longevity. When biodata, functional medicine, and AI are integrated together, entirely new possibilities emerge for personalized health."

Representatives from Adam Health shared that the collaboration reflects growing demand for modern men's healthcare solutions that are proactive rather than reactive.

"Men today are looking for clarity, personalization, measurable progress, and sustainable performance. This collaboration helps expand access to a more data-informed and longevity-focused model of men's health."

The companies expect the partnership to expand across digital health initiatives, biomarker intelligence, personalized wellness programs, and AI-supported preventative care frameworks in the coming months.

This initiative reflects a broader shift toward precision health, where technology, functional medicine, and real-time biological feedback converge to support healthier aging and improved quality of life for men worldwide.

As global cruise lines expand their presence in Asia, the Philippines is positioning itself not just as a stopover, but as a strategic expedition destination—leveraging its remote archipelagic geography to support immersive voyages, specialized small-ship itineraries, and deep-dive exploration of its untouched natural wonders.

Strategic Ports and Seamless Island Connectivity

At the forefront of this transformation is the modernization of key cruise gateways, supported by the Department of Tourism (DOT) in collaboration with port authorities and local governments. Major hubs such as Manila, Cebu, Puerto Princesa, and the Port of Currimao in Ilocos Norte are enhancing their capacity to accommodate international cruise vessels, while emerging destinations like Boracay and Coron are being integrated into curated cruise itineraries.

This network of ports enables seamless access to a wide range of experiences—from UNESCO-recognized natural landscapes and marine sanctuaries to heritage towns and vibrant coastal communities. Short sailing distances between islands make the Philippines particularly attractive for multi-stop itineraries, allowing travelers to explore diverse destinations without long transit times.

In parallel, improved air connectivity through major gateways ensures efficient fly-cruise integration, making it easier for international travelers to embark on Philippine cruise journeys.

Elevating Cruise Tourism Through Experience and Sustainability

Beyond infrastructure, the Philippines is redefining cruise tourism through destination-led experiences and sustainable practices. Shore excursions increasingly highlight local culture, gastronomy, and community engagement, from island-hopping and diving to immersive activities such as traditional weaving workshops in Ilocos, pottery-making in Vigan. Travelers can also participate in marine conservation efforts, including coral reef restoration in Apo Island and mangrove planting with coastal communities—transforming each visit into a meaningful contribution to local livelihoods.

In destinations such as Bohol—where trips to the Baclayon Church, Chocolate Hills, and Tarsier Sanctuary are integrated into itineraries—cruise tourism is being aligned with conservation efforts and community-based initiatives ensuring that growth remains inclusive and environmentally responsible. The DOT continues to work closely with stakeholders to develop sustainable cruise circuits, balancing visitor experience with long-term destination stewardship.

This approach reflects a broader shift in global cruise travel, where travelers seek more immersive, culturally rich, and environmentally conscious journeys—areas where the Philippines holds a natural advantage.

As Asia's cruise market continues to expand, the Philippines stands out as a destination uniquely designed for discovery at sea—where each port reveals a new landscape, culture, and story. With its combination of strategic location, infrastructure investment, and experiential depth, the country is poised to become a central player in the region's next wave of cruise tourism growth.

For more information on cruise travel and destinations in the Philippines, visit the Department of Tourism Philippines' official website tourism.gov.ph.