Opening Forum: Kick-off of Hong Kong Registration – Green Commodities

The Forum brought together leaders, experts and academics from international organisations, foreign consulate and EU Office in Hong Kong, government departments and various industries to explore collective responses to global climate risks and opportunities for sustainable development.

The Opening Forum was themed "Promoting Green Commodity Trading and Sustainable Financing Along the Belt and Road". To join hands with different sectors to shape a green commodity trading ecosystem to support government policies, the kick-off ceremony of Hong Kong Registration – Green Commodities was held at the Forum. The ceremony was participated by Christopher Hui, GBS, JP, Secretary for Financial Services and the Treasury of the HKSAR Government; P C Chan, Chief Executive Officer of HKQAA; and senior management representatives from enterprises and associations of the industry of green commodities that support the scheme.

Other guest speakers at the Opening Forum included Paul Chow, Group General Counsel and Group Chief Sustainability Officer of HKEX; Stephen Chan, Deputy Chief Executive of Bank of China (Hong Kong) Limited, Acting Chairman of the Hong Kong Association of Banks; and Tan Kun, Deputy General Manager, Marketing and Customer Service Department, Shenzhen Power Supply Bureau of China Southern Power Grid.

Keynote Luncheon: Fostering the development of Belt and Road Standards; sharing research on climate resilience of buildings and ESG investment value

The theme of the Keynote Luncheon was "Fostering Green Exchange and Cooperation under the Belt and Road Initiative, Advancing Green Commodity Trading, Climate Resilience and ESG Disclosure". Zhao Yingmin, President of the BRI International Green Development Coalition and Former Vice Minister of the Ministry of Ecology and Environment was the special guest.

Prof Simon Wong Ka Wo, BBS, JP, Chairman of HKQAA, said in his speech, "HKQAA will actively support the BRI International Green Development Coalition to engage organisations in Hong Kong and the Chinese Mainland in advancing the development of Belt and Road Standards that support green development across Belt and Road countries, with an initial focus on green hydrogen, green computing tokens, and zero-waste and waste-circularity practices. Both parties will also explore initiatives to facilitate the issuance of green finance instruments in Hong Kong for green projects in these countries, while contributing their respective expertise and networks to the development of a green commodities trading ecosystem in Hong Kong, in alignment with the National 15th Five-Year Plan."

HKQAA is also actively responding to the strategic direction of nurturing hydrogen energy as a key future industry under the National 15th Five-Year Plan. In August this year, HKQAA was appointed by the Electrical and Mechanical Services Department for the development of Hong Kong's green hydrogen standard and certification scheme. This will promote the alignment of hydrogen standards across markets, supporting the global expansion of the Chinese hydrogen industry. It will also help facilitate connectivity with green finance and satisfy international green capital requirement.

The Forum has once again invited Dr Bertrand Piccard, Chairman of Climate Impulse and President of the Solar Impulse Foundation, to be a featured keynote speaker. His newly developed green-hydrogen-powered aircraft is scheduled to undergo endurance test flights in 2027, marking a new milestone in the future development of the hydrogen energy industry and the green economy, which closely aligns with the theme of the Forum.

Dr Piccard shared insight from hydrogen-powered flight for clean energy innovation and green commodity market through video. He said in his speech, "I know very well that the HKQAA is deeply involved in sustainability and green commodities trading. Hydrogen, I believe, will become part of it... and, we need to harness our pioneering spirit to achieve the impossible. That's my passion. I hope it's yours."

HKQAA has collaborated closely with stakeholders from different sectors in research work. In recent months, we have collaborated with Taiping Reinsurance Co. Ltd on the "Research Project on Climate Resilience and Insurance Risk Quantification Standard for Buildings in Hong Kong". We have also kick-started with the China International Capital Corporation Limited to conduct a research project on ESG and the investment value of enterprises. Michael Fung, General Manager, Analytics Centre of Taiping Reinsurance Co. Ltd, and Chen Ji, Managing Director, Head of the Green Economy Team of CICC Global Institute, shared the preliminary findings of the two research projects respectively at the Keynote Luncheon.

Other guest speakers at the session included Zhang Jun, Vice Chairman, Executive Director and Chief Executive Officer of China Construction Bank (Asia) Corporation Limited.

Moreover, some of the locally grown food ingredients served at the Keynote Luncheon were sponsored by the Vegetable Marketing Organization, thereby supporting and promoting the Agriculture, Fisheries and Conservation Department's Hong Kong Harvest Scheme. HKQAA is honoured to serve as the Certification Organisation for the Scheme, establishing a certification and traceability mechanism for local agricultural and fisheries products.

Thematic Forum: Co-hosted with APLMA; promoting application of the Hong Kong Taxonomy for Sustainable Finance

The Thematic Forum in the afternoon, themed "Advancing ESG Disclosure Ecosystem, Fostering Wider Adoption of Sustainable Financial Instruments", was co-hosted by HKQAA and Asia Pacific Loan Market Association. Philip Kam, Chief Executive Officer of Asia Pacific Loan Market Association, delivered the keynote remarks, and Ronald Young, Head of Sustainable Banking Development of Hong Kong Monetary Authority, shared on the Hong Kong Taxonomy for Sustainable Finance.

Afterwards, Dr Nigel Croft, Chair, ISO Joint Technical Coordination Group for Management System Standards (2020 – 2023), Member of ISO Strategic Advisory Group on ESG (2021 – 2023), and K T Ting, Chief Operating Officer of HKQAA, introduced the HKQAA Taxonomy-based KPI & SPT Toolkit. The Toolkit is a sector-based KPI library and SPT setting guide for applying the Hong Kong Taxonomy for Sustainable Finance to sustainability-linked loans and bonds, with the aim of fostering a climate-resilient financial system and strengthening Hong Kong's green finance ecosystem. After the sharing session, the kick-off ceremony of the HKQAA Taxonomy-based KPI & SPT Toolkit was held.

Other guest speakers at the Thematic Forum included Ms Phyllis Ng, Assistant General Manager and Head of Loan Syndicate of Global Banking & Capital Market Division of China Construction Bank (Asia) Corporation Limited; and Ms Jennifer Zhou, Head of Transition Finance and Advisory, GCNA, Standard Chartered Bank.

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

Chen brings over 20 years of private equity experience, with a focus on the telecommunications, media, technology, and business services sectors. He previously served as a Senior Partner at Bain Capital and was a founding member of the firm's Asia Pacific private equity team. Prior to Bain Capital, Chen worked at Bain & Company. He holds a bachelor's degree in economics from Harvard University and an MBA from Harvard Business School.

Eric Fan, Co-CEO of Bridge Data Centres, said, "On behalf of Bridge Data Centres, we would like to welcome Drew. His appointment strengthens our leadership team at an important point in BDC's growth, as we surpass one gigawatt of capacity in 2026. Drew's experience and deep domain knowledge of the data centre sector will support our strategy as we scale BDC into a multi-gigawatt digital infrastructure platform in the coming years."

Drew Chen, Co-CEO of Bridge Data Centres, said, "The Asia Pacific data centre sector is at inflection point for growth, fuelled by surging cloud adoption and the rapid expansion of AI workloads. BDC is well positioned to capture this opportunity, backed by our world class engineering and design team, longstanding partnerships with global clients, and a decade of experience developing and operating next-generation digital infrastructure. I am excited to partner with Eric and the leadership team to scale BDC's footprint across Asia Pacific and support our customers' ambitious growth plans."

Jonathan Zhu, Partner and Chair of China at Bain Capital, said, "Drew possesses deep expertise in the digital infrastructure space and an intimate knowledge of BDC's business, having played a pivotal role in the buildout of BDC and its sister company ChinData. We are delighted that, as the Co-CEO, Drew will continue to bring strategic foresight and robust business building capabilities to BDC. Together, he and Eric are well positioned to lead BDC through its next chapter of growth."

Headquartered in Singapore, BDC is one of Asia Pacific's top three next-generation digital infrastructure platforms by live capacity, with a presence across Malaysia, Thailand, Singapore, and India.

https://www.bridgedatacentres.com/

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

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

More information: www.onyx-hospitality.com

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

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

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

Executives from BlackRock's Global Infrastructure Partners, KKR, Brookfield, Oaktree and Franklin Templeton, alongside other leading institutions, will join more than 100 speakers at the forum, which will take place on 3 and 4 December 2026 at The Mulia, Bali, Indonesia.

Spanning across infrastructure, private equity, real estate and global asset management, these institutions bring extensive international investment experience and access to significant pools of institutional capital. Their participation reflects the increasing importance of connecting Asia's economic growth and industrial transformation with patient, long term investment, particularly in energy, digital connectivity and advanced industries.

Confirmed speakers from the global investment community include Will Brilliant, Partner at Global Infrastructure Partners and Head of Digital Infrastructure at BlackRock; David Luboff, Partner, Co-Head of Asia Pacific and Head of Asia Pacific Infrastructure at KKR; Andrew Burych, Managing Partner and Head of East Asia at Brookfield Real Estate Group; Roger Zhang, Managing Director and Co-Head of Asia at Oaktree; and Manraj S. Sekhon, Chief Investment Officer of Templeton Global Investments at Franklin Templeton.

Global business and technology leaders from Freeport-McMoRan, Jardine Matheson, AirAsia, Databricks, Archer Aviation and Honeywell will also be represented, bringing perspectives from industries shaping the region's next phase of economic growth.

Asia Pacific accounts for close to 60% of global economic growth, yet significant opportunities remain to mobilize long term capital towards the region's investment and development priorities. As global investors reassess capital allocation strategies amid shifting economic and geopolitical dynamics, Asia offers opportunities for diversification, new partnerships and sustained value creation.

The investment institutions represented at NAF collectively manage trillions of dollars across public and private markets. Their participation brings together global capital, policymakers and business leaders to forge partnerships and advance concrete investment opportunities across the region.

Pahala Nugraha Mansury, Managing Director of Global Relations & Communications at Danantara Indonesia, a founding partner of the New Asia Forum, emphasized the importance of moving beyond investment interest towards sustained institutional engagement and concrete partnerships.

"The participation of leading global investment institutions shows that global investors are paying closer attention to Asia. However, the real opportunity is not just attracting more capital, but building the right partnerships to turn the region's potential into lasting investment.

"The New Asia Forum brings global investors, governments and industry to the same table, so that conversations become meaningful collaboration and opportunities. For Danantara Indonesia, it is about establishing Indonesia as a trusted, enduring partner for global capital," said Pahala.

Beyond the investment community, NAF 2026 will convene senior government leaders, including H.E. Tshering Tobgay, Prime Minister of the Kingdom of Bhutan, and Sebastian Kurz, former Federal Chancellor of Austria.

Their participation reflects NAF's broader ambition to connect capital with the industrial capabilities, technologies and strategic partnerships required to unlock new investment opportunities across Asia. The growing lineup follows the announcement earlier this month of NAF 2026's ambition to help mobilize US$30 billion in investment across the New Asia region, with Danantara Indonesia serving as a founding partner.

Designed to move beyond dialogue, NAF 2026 will place particular emphasis on facilitating actionable investment opportunities and partnerships. The forum will feature targeted investor engagements, private roundtables and opportunities to connect international capital with selected investment propositions. The objective is to establish relationships and advance discussions that can be developed into concrete investment outcomes beyond the forum itself.

Held under the patronage of President Prabowo Subianto, NAF 2026 is expected to convene more than 1,000 participants, including senior government officials, global investors, sovereign investment institutions and business leaders, across more than 40 sessions. Further speaker announcements and program updates will be released ahead of the December gathering.

As a founding partner of the New Asia Forum, Danantara Indonesia views the forum as an important platform to advance its mandate of mobilizing long-term capital, building strategic global partnerships, and expanding investment capacity to support Indonesia's economic transformation. By bringing together global investors, sovereign institutions, policymakers and industry leaders, NAF 2026 enables Danantara Indonesia to connect international capital and expertise with investment opportunities in Indonesia's priority sectors, while strengthening Indonesia's position as a trusted long-term investment partner in the region.

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

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

Dr. Jingfeng Xu, country director of Arup Vietnam

How can Vietnam turn its TOD ambitions into commercially viable and financially attractive projects that?

Rail and metro expansion in Vietnam offers significant opportunities for TOD, but unlocking its investment potential will require coordinated planning, bankable projects, and effective collaboration between public and private stakeholders.

Capital follows clarity and readiness. Vietnam's rail and metro programme creates a rare opportunity, but developers, investors, and lenders will only commit early when they can see a credible case. In our experience, five conditions make the difference.

Rail alignment, station locations, land, development rights, and supporting infrastructure should be considered as one package. Adding TOD after the railway has been designed limits what can be built and the value it can capture.

Every project must be ground in robust demand. Viability starts with a realistic view of ridership and market demand. TOD should also generate new demand. By directing future population growth and concentrating density along rail corridors, cities create the ridership that sustains the railway and the footfall that sustains development.

Certainty should be created around land and development rights. Investors need clarity on what can be developed, where, and under what conditions before they commit capital. Where that clarity is missing, it is priced in as risk or keeps capital away altogether.

Meanwhile, not every station is ready for investment at the same time. Prioritising locations where connectivity, demand, land availability and catalytic potential come together builds a credible pipeline of investable opportunities.

Clear governance and delivery pathways must be established. Government, metro authorities, developers, investors, and financial institutions need defined responsibilities and a shared implementation pathway.

When planning, land, commercial strategy, financing, governance, and delivery are aligned, TOD moves from ambition to bankable opportunity.

How can Vietnam integrate transport, urban planning, commercial development and governance to transform station precincts into distinctive, economically sustainable destinations?

A station precinct creates lasting value when it becomes a place people choose to live, work, and spend time in, not just a place they pass through. That means thinking about the city, not only the station.

Investors and developers assess the wider economic ecosystem a network enables: where people will live, where jobs will locate and where businesses will grow. Precinct strategies should start from that bigger picture.

A multi-centre city is a necessity. Rail investment works hardest when it supports several strong centres rather than one dominant core. Balancing homes and jobs in different directions spreads travel demand across the network, keeps trains busy both ways and maximises the return on infrastructure. Each precinct then has a genuine role in the city's economy.

Use transport as a platform for economic growth, as better connectivity attracts people and talent. That supports businesses, jobs and housing, which in turn sustains development demand around stations.

Integrate transport and land-use decisions early. Protect strategic development sites, coordinate supporting infrastructure and make sure station design enables future development rather than constraining it.

Give each location its own strategy: not every station should pursue the same outcome. A central interchange, a suburban node and an emerging growth area each need a different mix of uses, scale and phasing. That is what makes precincts distinctive and commercially resilient.

Collaboration can also be built into the delivery model. TOD brings together decisions that sit across government agencies, metro authorities, landowners, developers, investors, financial institutions, and communities. These parties need to work together from the early planning stages, with a shared vision, clear responsibilities, and coordinated decisions on transport, land, infrastructure, investment, and delivery. No single organisation can deliver a successful TOD precinct on its own.

TOD succeeds when transport, people, jobs, development, and the organisations responsible for delivering them reinforce one another. That is how infrastructure becomes a platform for economic growth, rather than simply a means of moving people.

What land-use, financing, public-private partnership (PPP) and regulatory mechanisms could strengthen investor confidence and attract early-stage investment in TOD projects?

If I had to choose one mechanism that matters most, it would be certainty over land and development rights around the station, established early.

The reason is that investors are not really buying a metro line. They are buying the development value the line can unlock. A developer or institutional investor will ask very practical questions: What can be built around this station? At what density? On which land? And who approves it? If those answers only become clear after the line is under construction, the uncertainty gets priced into every decision. Capital either waits on the sidelines or comes in at a much higher cost.

That is why the station area should be planned as a single, integrated place from the outset, rather than as a transport project with development added later. When land use, density and connectivity are defined up front, and the path for land assembly and compensation is clear, developers can see a credible line of sight from the transport investment to demand, value creation and long-term cashflows. That is what makes an opportunity investment-ready.

Timing is the other part of this. The value of land around a station tends to be shaped by decisions made early, well before the first train runs. If rights and approval pathways are settled at that stage, the public sector is also in a much stronger position to work with private partners on how the value created is shared. Clarity on land comes first; the PPP structures and regulatory details can then be built on a solid base.

Ultimately, the aim is not simply to attract capital. It is to create certainty. Developers and investors need certainty that they can access and realise the development opportunity associated with the station, or be appropriately compensated if that opportunity cannot be delivered. Lenders need certainty that the project can move forward within a predictable timeframe and generate the cashflows needed to repay financing. When that certainty exists, capital becomes far easier to mobilise.

TOD is becoming key to unlocking urban potential and creating economic value. Photo: Le Toan

Growing in motion – TOD: reshaping urban lifestyle and space The Vietnam Interior & Build Expo (VIBE) 2026 held a seminar on August 28 exploring how transit-oriented development (TOD) is reshaping urban lifestyles and spaces.

Transit-oriented development must look beyond station gate Vietnam’s push for transit-oriented development will succeed only if planners, investors, and city officials treat the land around each station as seriously as the railway itself.

According to the announcement on November 3, the document confirms the readiness of the parties to develop cooperation within the scientific platform of the IRC MBIR.

The document outlines the intention of the parties to develop interaction based on the international centre, including participation in research conducted at its site, and evaluating the conditions for Vinatom to join the IRC MBIR Consortium.

For Vietnamese specialists, this grants access to the experimental infrastructure of the MBIR reactor under construction – the highest-flux fast neutron research facility in the world.

MBIR is a multipurpose fast-neutron research reactor with sodium coolant and the thermal capacity of approximately 150 MW. The reactor is under construction in Dimitrovgrad, Russia.

Among the areas that the Vietnamese party plans to develop at MBIR are testing of structural materials and equipment under intense irradiation, validation of computer codes for safety assessment of nuclear projects, research on the behaviour of various types of nuclear fuel and coolants, as well as studying the transmutation of minor actinides and methods to reduce the volume and activity of radioactive waste.

The high neutron flux and wide range of irradiation parameters at MBIR will allow Vinatom to conduct research closely simulating the operating conditions of advanced reactor concepts, and to enhance its own scientific and technological base for the development of the national nuclear programme.

"This is a strategic step for the development of cooperation in the field of peaceful uses of nuclear energy. We look forward to long-term joint research work," Tran Chi Thanh, president of Vinatom said.

Vasily Konstantinov, director general of IRC MBIR LLC, said,"The signed document consolidates our mutual readiness for interaction. I am confident that this will strengthen the international scientific agenda of MBIR."

Vinatom is the leading state-run scientific organisation in Vietnam, operating under the management of the Ministry of Science and Technology. Founded in 1976, the institute serves as the nation’s primary centre for fundamental and applied research in the peaceful uses of atomic energy, nuclear physics, reactor technologies, and radiation materials science.

The IRC in the form of an international consortium is established on the basis of MBIR reactor. The consortium participants gain ‘fast track’ access to carry out the experiments needed for national programmes of nuclear energy peaceful applications.

Vietnam seeks to deepen financial cooperation with Russia During Party General Secretary and State President To Lam’s state visit to Russia, Vietnamese Minister of Finance Ngo Van Tuan held talks with Russian Minister of Finance Anton Germanovich Siluanov in Moscow on September 8 to promote comprehensive financial cooperation between the two countries.

Vietnam-Russia additive manufacturing project gets presidential backing The Fuel Division of Rosatom and the national oil and gas corporation Petrovietnam have signed an agreement to develop a project for establishing an additive manufacturing centre in Vietnam.

Russia grants Vietnamese citizens 30-day visa-free entry Vietnamese citizens will be allowed to enter Russia without a visa and stay for up to 30 days for tourism, family visits and business purposes from October 15, 2026 to October 15, 2027.

Khanh Hoa Department of Industry and Trade assesses the project as closely adhering to the Power Development Plan VIII and Resolution No.70-NQ/TW on ensuring national energy security. Once completed, the plant will serve the middle section of Vietnam's power grid, playing a crucial role in supplying electricity to the load centres of the Southern Key Economic Region.

According to the department, although the feasibility report basically meets the requirements, this assessment does not replace the responsibility of the investor.

The Trung Nam - Sideros River consortium, the investor, must directly review the total investment, assess financial feasibility and economic efficiency, and is fully responsible for securing the $2.29 billion in funding.

At the same time, the consortium is bound to ensure the gas supply for the entire 50-year operating lifespan. The project is only eligible for investment and construction approval after the environmental impact assessment report is compiled and approved by the relevant agency in accordance with the Law on Environmental Protection.

This legal step brings the project of the Trung Nam - Sideros River consortium closer to its goal of commencing construction and operation before 2030.

Previously, in January, the Trung Nam - Sideros River consortium won the bid to develop the project. The entire investment worth $2.29 billion will be arranged by the investor. The proposed electricity price is approved at 13 cents per dollar/kWh.

In April, Khanh Hoa People's Committee and Trung Nam - Sideros River signed the investment and business contract for the project and the credit contract for the Ca Na Port Area phase 1.

Spanning 265.7 hectares in Ca Na commune, the project includes a 1,500 MW power plant and technical corridor occupying 33.4 ha. The remaining area is used as water surface for the port and storage system. One geographical advantage of the project is its location near the planned Van Phong Bay fuel storage area (Khanh Hoa province). This facilitates the provision of a backup fuel supply for the plant via sea or pipeline.

Accompanying infrastructure includes a regasification system with a capacity of 1-1.2 million tonnes per year, a storage tank with a capacity of 220,000 square metres, a supply pipeline, an import port, and a 2,400 m long eastern breakwater. According to the plan, the enterprise must complete construction and put it into operation before December 31, 2030, with an operating lifespan of 50 years.

BIDV, VietinBank sign $281-million credit deal for O Mon IV power plant BIDV, VietinBank, and Petrovietnam have signed a credit agreement to finance the O Mon IV Thermal Power Plant.

Investors in $2.2 billion Quynh Lap LNG project assigned urgent missions Nghe An People's Committee requires the consortium of investors of the Quynh Lap LNG thermal power plant to complete certain urgent missions in September to accelerate the project.

Government urges action on stalled Mekong Delta power projects The government has asked ministries and agencies to resolve hurdles to the Song Hau 2 and O Mon 2 and 3 thermal power projects by the end of September.

Land clearance contract for new thermal power plant to be signed Nghe An People's Committee require the consortium of investors in the Quynh Lap LNG thermal power plant to sign the land clearance contract with the local authorities before September 25.

Long-delayed LNG power projects may be replaced in revised PDP VIII The Ministry of Industry and Trade is consulting ministries and localities for the adjustment of Power Development Plan VIII - Phase 1. One of the contents is the proposal to replace coal-fired or gas-fired power plants with LNG power projects in the north.

While the 52 per cent drop appears drastic, it was heavily skewed by 2024's outlier total of $70 million Series A investment in Techcoop. Setting aside the largest deal in each year, funding fell a more modest 19 per cent, from $34.2 million to $27.86 million.

These findings come from a set of three Vietnam Climate Tech Ecosystem Reports focusing on climate tech funding, workforce, and women's entrepreneurship, released on November 3 by New Energy Nexus Vietnam, SNV Vietnam, World University Service of Canada, and RMIT University Vietnam, and supported by Swiss EP.

Despite continued interest from potential regional funders, the financing gap between early-stage grants and larger commercial rounds remains a challenge. No recorded deal closed within the $350,000 to $1 million range in 2025, compared with four in 2024. Specifically, women-founded enterprises were among the most vulnerable to this gap, as many face more hurdles in navigating collateral requirements and receiving appropriate dual-mandate support.

The report also records a shift in financing composition: equity funding fell sharply, while debt financing rose from $3 million to $20 million, driven by the facility for CME Solar. The findings point to the need for financing pathways that can help enterprises progress from early-stage support to larger commercial investment.

“Funders told us they have money for Vietnam’s climate startups, and founders told us they need it, yet in 2025 not one recorded deal closed between $350,000 and $1 million, the stage where a company moves from grants to its first major investment,” said Thao Tran, country director at New Energy Nexus Vietnam.

Alongside the funding gap, enterprises face a shortage of experienced talent. 73 per cent of surveyed enterprises ranked technical and engineering skills among their top three workforce needs, while 50 per cent identified these skills as the hardest to recruit. The findings point to demand for experienced professionals who can combine technical expertise with interdisciplinary capabilities. The skill needs also go beyond technical skills for climate tech enterprises.

"Capital has arrived faster than the people needed to deploy it. For climate tech enterprises to grow, Vietnam needs more experienced, interdisciplinary professionals, and closer links between training, hiring, and finance to develop them," said Lindsay Umalla, energy sector leader of SNV in Vietnam.

Women-founded enterprises were among the most exposed to the mid-sized funding gap. They received approximately 56 per cent of recorded grant funding in 2025, but only around 1.7 per cent of total recorded climate tech capital. The report examines barriers that may limit their access to larger financing opportunities.

“Women feel this gap most: they founded about a third of Vietnam’s active climate tech enterprises and won more than half of last year’s grant funding, yet received just 1.7 per cent of all climate tech funding," Tran said. "Loans designed for young companies, financing repaid from revenue, and guarantees that stand in for property collateral would carry founders across that gap, and they matter most for women, many of whom don’t hold the land titles banks ask for.”

The report also finds out that energy transition led sector funding in 2025, attracting $26.71 million – a 72 per cent increase from the previous year. It was also the only sector to secure funding across all three financing types: venture equity, debt, and grants.

Vietnam recorded 29 climate and innovation-related policies in 2025, while 39 per cent of funded enterprises in the report’s dataset incorporated AI into their work.

SmartSolar brings total funding to $3.15 million with European financing On March 17, Vietnam-based rooftop solar startup SmartSolar closes a debt financing round, bringing total funding to $3.15 million in combined equity and debt as it scales financing for small and medium-sized businesses struggling with rising electricity costs.

Vietnamese startup Alternō named global finalist in clean energy award Vietnamese climate tech startup Alternō has been named a top-three finalist in a prestigious global energy award, marking a significant milestone for the country's emerging clean technology sector.

VIFC-HCMC, Touchstone Partners, Temasek Foundation to collaborate on green economy On May 29, the Vietnam International Financial Centre in Ho Chi Minh City, Touchstone Partners and Temasek Foundation signed a trilateral strategic collaboration agreement to mobilise financial resources to advance technology development, contributing to Vietnam’s green transition.

Accordingly, DatVietVAC commenced trading of 111.42 million DVV stocks, with a total listing value (at par value) of VND1.11 trillion ($43.3 million). The reference price of DVV stocks on the first trading day is $2.13 apiece, with a fluctuation band of approximately 20 per cent.

DatVietVAC was established in 2019 with an initial charter capital of approximately $194,000. DVV primarily provides business management consultancy and related services.

According to DVV’s consolidated business performance report, net revenue exceeded $147.3 million in 2024 and $131.5 million in 2025.

Profit after tax was $5.55 million and $8.27 million, respectively. In the first six months of 2026, DVV reported net revenue of over $53.2 million and profit after tax of $5.24 million.

At the listing ceremony, a HSX representative congratulated DVV on its first trading session. As the market operator, HSX continues to support the company in fulfilling its obligations as a listed entity, particularly in information disclosure and compliance with securities market regulations and policies.

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

The company's development strategy is structured around three pillars. First, DatVietVAC aims to bring Vietnamese-inspired IPs to the international market, while simultaneously developing Asian IPs in accordance with Western commercial standards.

Second, it integrates technology and AI across the ecosystem. Third, it expands a V-Culture consumer ecosystem beyond the realm of entertainment to broaden commercial opportunities and extend the commercial lifecycle of its IP.

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

Dien May Xanh's IPO raises over $500 million Dien May Xanh has completed a public share sale, raising more than VND13.3 trillion ($500 million) and increasing its charter capital to VND12.68 trillion ($487.7 million).

DatViet VAC IPO sees robust demand from investors Vietnam’s leading media and entertainment group DatViet VAC Group Holdings has wrapped up its initial public offering with over 100 per cent subscription rate, attracting nearly 1,700 investors.

Why Vietnam deal teams may want to prepare for both IPO and sale With listed markets under pressure and some buyers still active, keeping both a sale and a listing open could be a useful part of what advisors offer Vietnamese sellers. Phi Bui, account executive at Ansarada Vietnam, gives his outlook on the current markets.

China remained Vietnam’s largest source market during the period, with nearly 4.4 million arrivals, followed by the Republic of Korea with 3.4 million, Russia with 1.25 million, and Taiwan (China) with 1.07 million. These were the only four markets to each contribute more than one million visitors to Vietnam from January to October.

Other major source markets included the United States with 808,700 arrivals, Cambodia with 787,100, Japan with 757,500, India with 744,600, the Philippines with 579,200, and Australia with 543,000.

Asia continued to be the largest source region, with 14.6 million arrivals, accounting for nearly 75 per cent of the total. Europe ranked second with 3.22 million arrivals, or 16.5 per cent, followed by the Americas with 1.04 million, or 4.4 per cent, Oceania with 602,700, or 3.1 per cent, and Africa with 59,900, or 0.3 per cent.

In terms of growth, Europe recorded the strongest increase, at 51.5 per cent on-year, followed by Africa at 30.7 per cent, Oceania at 21.5 per cent, the Americas at 18.1 per cent, and Asia at 7.3 per cent.

Europe was also the largest contributor to the overall increase in international arrivals to Vietnam, adding approximately 1.09 million visitors compared with the same period last year. By comparison, Asia recorded an additional 992,000 arrivals.

Russia was the standout European market, recording growth of 150 per cent and remaining the region’s largest source market. Other European markets also posted strong increases, including Poland, up 45.8 per cent, Switzerland, up 23.1 per cent, Sweden, up 21.4 per cent, and the Czech Republic, up 21.9 per cent.

Nearby Southeast Asian markets also recorded strong growth. Arrivals from the Philippines increased by 52.4 per cent, Cambodia by 43.2 per cent, Singapore by 28.9 per cent, and Indonesia by 27.1 per cent. Australia and New Zealand also posted positive growth of 21.3 per cent and 22.9 per cent, respectively.

In contrast, arrivals from the Republic of Korea, Vietnam’s second-largest source market, declined by 6.3 per cent, highlighting the need for continued efforts in tourism promotion, policy support, and product development to maintain the country’s competitiveness in traditional markets.

The Vietnam National Authority of Tourism (VNAT) said the figures reflected the contribution of both large source markets and those recording high growth rates. While Asian markets continue to provide a solid foundation for Vietnam’s tourism industry, the expansion and more effective exploitation of long-haul markets, particularly in Europe, are creating an important new source of growth.

A stable and safe environment, the expansion of direct air routes connecting Vietnam with international tourism hubs, and favourable visa policies are among the factors supporting the country’s appeal to international visitors. These advantages, together with its diverse tourism resources and products, have helped sustain double-digit growth in international arrivals.

With 19.5 million international visitors in the first 10 months, Vietnam has achieved around 78 per cent of its 2026 target of welcoming 25 million arrivals. The final two months of the year will therefore be crucial to maintaining growth momentum and reaching the annual target.

The VNAT plans to continue tourism promotion programmes in key markets, including China, the Republic of Korea, India, and Russia, through the end of 2026. These efforts are expected to boost visitor numbers in the remaining months, consolidate source markets, and build momentum for tourism growth in 2027.

The authority has also called on localities and tourism businesses to step up efforts to attract visitors, organise cultural and tourism events, refresh tourism products, and improve service quality.

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Vietnam welcomes Chinese investors in financial centres

Vietnam welcomes 12.2 million international visitors in H1

Earlier, on September 28, the Ministry of Finance issued Official Dispatch No.15295/BTC-CHQ seeking comments from ministries and ministerial-level agencies, People's Committees of provinces and centrally governed cities, and several relevant units on the draft Circular governing compliance management in customs administration and risk management in customs operations.

Customs officers settling professional information. Photo: thoibaotaichinhvietnam.vn

According to the Customs Department, during the drafting process, the drafting agency received 40 submissions, including 13 from ministries and sectors, 26 from provincial and municipal People's Committees, and one from the Central Committee of Vietnam Fatherland Front.

The comments focused on refining assessment criteria, classification principles, data-sharing mechanisms, and the responsibilities of parties involved in implementing compliance management and risk management.

On this basis, the draft continues to refine provisions on assessing and classifying businesses according to their compliance levels.

The assessment will not be based solely on an individual act or isolated violation, but will take a comprehensive view of businesses' overall performance in fulfilling their customs-related legal obligations, their level of cooperation, and relevant information collected and analysed by customs authorities.

This approach will help identify differences more clearly among business groups, enabling the application of proportionate management measures.

Businesses with a good compliance record that proactively fulfil their obligations will have opportunities to receive appropriate support measures, while those showing signs of higher risk will be subject to enhanced monitoring and inspection.

Another important aspect is the mechanism for encouraging voluntary compliance. Accordingly, the draft aims to strengthen the provision of information, guidance, and assistance to businesses in identifying and addressing shortcomings in their implementation of customs procedures.

Through this approach, businesses will not only be assessed on their compliance levels but also be given opportunities to improve their compliance throughout their operations.

This is an important factor in ensuring that assessment results accurately reflect actual conditions and avoid creating barriers for businesses that have made positive improvements.

Importantly, the draft Circular on compliance management and risk management in customs operations aims to classify businesses based on data and their level of legal compliance.

This approach will both provide greater support for compliant businesses and enable customs authorities to focus their controls on entities posing potential risks.

A notable feature of the draft is that, rather than applying a relatively uniform management approach, customs authorities will assess businesses based on information, data, and their track records of legal compliance.

The assessment results will serve as a basis for selecting appropriate management measures, both encouraging voluntary compliance among businesses, and improving the effectiveness of controls over cases with a higher risk of violations.

Alongside changes to business assessment methods, the draft places emphasis on improving the quality of risk management through the exploitation, integration and analysis of data, with a view to reducing blanket inspections and shortening customs clearance times.

According to the Customs Department, collecting and processing information from multiple sources will provide customs authorities with additional grounds for identifying irregularities, assessing the risk of violations, and selecting entities for inspection and supervision.

Notably, the application of technology and AI in data analysis and risk identification is being considered as a means of enhancing information-processing capabilities.

When data is effectively utilised, customs authorities can take a more proactive approach to detecting irregularities, rather than relying primarily on manual inspections, or responding only after violations have occurred.

The draft also emphasises human oversight of risk analysis and assessment results, thereby helping to minimise data inaccuracies and the mechanical application of alerts in practice.

From a management perspective, combining compliance assessments with risk analysis will help customs authorities allocate resources more effectively.

The finalisation of the draft aims to standardise operational procedures and bring about a shift in management practices, with data as the foundation, compliance levels as the basis for decision-making, and risk management as the means of resource allocation.

When implemented, the mechanism is expected to enhance the effectiveness of state management of customs, reduce compliance costs, and create a more favourable environment for import and export activities.

Enterprises importing goods to UK must be put on new customs system quickly HM Revenue and Customs (HMRC) are reminding businesses to use the Customs Declaration Service (CDS) for import declarations from October 1.

Customs Department issues urgent guidance on food safety inspection of imported animal products The customs authorities will still apply the current regulations when conducting food safety inspections for imported animal-derived and aquatic products

Vietnam Customs expands priority enterprise scheme to 74 firms Vietnam's Customs Department has granted or extended priority status to seven companies, bringing the total number of firms covered by the scheme to 74.

Vietnam pledges transparent tax and customs policies for South Korean businesses Vietnam will continue reforming tax and customs policies, simplifying administrative procedures, and strengthening digitalisation to improve the investment environment and support foreign-invested enterprises, Deputy Minister of Finance Cao Anh Tuan told a dialogue with South Korean businesses on October 21 in Hanoi.

TCP is entering its seventh year of supporting the “Noble Youth” Awards. What has motivated TCP to maintain its long-term commitment to a programme that recognises outstanding young Vietnamese people?

Guided by our corporate purpose, “Energising a Better World for All,” we believe that TCP’s value lies not only in our products but also in our ability to spread positive energy, unlock human potential, and support local communities in their journey towards sustainable development. Young people, in particular, have tremendous energy and the potential to drive positive change in their communities and society.

That is why we have remained committed to the “Noble Youth” Awards. As we enter the seventh year of this partnership, we have had the opportunity to meet many outstanding young Vietnamese people from different backgrounds and fields, each with their own unique journey. What impresses me most is their willingness to take initiative, turn ideas into action, and create opportunities for themselves.

Supporting these young people is one way we fulfil our mission of empowering communities and helping positive energy reach more people, creating a wider and lasting impact.

2026 marks 70 years since TCP was founded. Looking back on this journey, how do you think the role of businesses in supporting communities has changed?

TCP’s 70^th anniversary is an important milestone, but it is also an opportunity to reflect on the broader responsibilities businesses have towards society.

In the past, a company’s success was often measured by indicators such as growth, market share, and business performance. These factors remain important. However, we believe that sustainable business growth today requires companies to look beyond their business results and recognise their broader responsibilities to society and the communities in which they operate.

Vietnam is an important market in TCP’s long-term development journey. We therefore see our presence here as more than a business opportunity. We want to be part of the community, understand Vietnam’s social priorities, and find meaningful ways to contribute in areas where TCP can make a difference.

TCP marks 7th year of empowering youth at “Noble Youth” Award. Photo: TCP

What new directions will emerge from the renewed partnership between TCP and the Central Committee of the Vietnam Youth Federation for 2026-2028?

We have discussed and agreed that the new phase should build on our existing initiatives while creating more opportunities for young people to develop their strengths and realise their potential.

Through the “Noble Youth” Awards, TCP and the Central Committee of the Vietnam Youth Federation aim to go beyond recognising outstanding individuals. We also want to create more opportunities for these role models to connect, share their experiences, and inspire the wider youth community. By doing so, we hope their stories will reach more people, encouraging other young people to learn from their experiences and take action themselves.

I believe that when young people who are committed to making a positive difference connect with one another, recognising one person’s contributions can inspire many others. This can foster a healthy spirit of emulation among young people, motivating them to work together and contribute more to their communities.

Which young person at the 2026 “Noble Youth” Awards impressed you the most?

It is truly difficult to choose just one person because every story at the 2026 “Noble Youth” Awards left a special impression on me.

For example, Dinh Viet Tuong’s story showed me how a young person can turn personal challenges into motivation to overcome difficulties and create value for the community. The story of Hoang Thi Hien, a teacher in Nghe An province, deeply moved me because of her dedication and willingness to sacrifice so much for her students.

These stories may not be defined by impressive statistics or measurable achievements, but they demonstrate resilience, perseverance, compassion, and the spirit of mutual support that are deeply rooted in Vietnamese society.

This is exactly the spirit that the “Noble Youth” Awards seek to encourage. These stories also reinforce my belief that the positive energy of young people is one of Vietnam’s greatest resources. By sharing them, we can inspire more young people to do good in their own ways and make a positive difference in their communities.

If you could choose one thing you hope TCP will help create for young Vietnamese, what would it be?

I hope TCP can help nurture a generation of young people who believe not only in their ability to change their own lives but also in their power to make a positive difference in their communities.

We do not expect every young person to do extraordinary things. What we hope is that each person can recognise their own value, have more opportunities to grow, and be willing to share their positive energy with others.

If a young person is inspired by a story from the “Noble Youth” Awards and takes positive action in their community, which in turn inspires others to do the same, the resulting impact can be far greater than that of a single award.

I believe that when young people’s positive energy is brought together and multiplied, it can become a powerful force for Vietnam’s future.

TCP Group reaffirms commitment to Thailand-Vietnam economic cooperation TCP Group has reaffirmed its commitment to strengthening Thailand-Vietnam economic cooperation through sustainable investment and community development initiatives.

TCP and Central Committee of the Vietnam Youth Federation empower youth through community sport yards Thailand's TCP Group and the Central Committee of the Vietnam Youth Federation continue to expand community sport yards across Vietnam.

Ho Chi Minh City holds dialogue with businesses to address operational hurdles At a dialogue between Ho Chi Minh City authorities and businesses on October 9, participants focused on resolving obstacles related to investment, taxation, customs, environmental issues, and administrative procedures in industrial parks.

Ondine Capital's newly appointed partner: Brian Yen

• Recursive Superintelligence: Founded by former Salesforce Chief Scientist Richard Socher and built by veteran researchers from OpenAI, Google, and Meta, the startup focuses on recursive self-improving AI systems. It recently raised $650 million at a $4 billion pre-money valuation led by Google Ventures, with participation from Nvidia and AMD.
• Bot Auto: Founded by Xiaodi Hou (former co-founder and CTO of TuSimple), this Houston-based physical AI startup specializes in autonomous freight transportation. Bot Auto recently partnered with Ryan Transportation to launch driverless freight operations along the Houston-Dallas corridor.
• Salience Labs: Founded by Vaysh Kewada and Johannes Feldmann, the company develops silicon-photonics optical switching technology for AI data centers. Partnering with Tower Semiconductor, Salience Labs recently closed a $125 million financing round led by Bullhound Capital, with strategic backing from AMD Ventures and Intel Capital.

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

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

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

For more information, please visit: https://vingroup.net.

Unveiled on November 3, the chip delivers encryption and decryption speeds approximately 15 times faster than a software-only solution performing the same tasks. The VGC v1.0 is the first product developed on Vietnam's domestically designed secure semiconductor platform, marking a step forward in the country's mastery of core technologies for national cybersecurity and digital sovereignty.

The project addresses concerns over potential data exposure associated with reliance on imported chips. By embedding cryptographic functions directly into hardware, the Government Cipher Committee and Viettel Group aim to strengthen Vietnam's control over the design and verification of technologies used to protect sensitive information.

VGC v1.0 contains 300 million transistors in a 10×10 mm package and is fabricated using a 28-nanometre CMOS process. In performance tests, it performed encryption and decryption approximately 15 times faster than a software-only solution carrying out the same tasks.

The first batch passed technical tests and received certification for socioeconomic applications in the first quarter of 2026. Technical safeguards were also applied to protect the design before fabrication, reducing risks of information leakage and reverse engineering.

The Government Cipher Committee's M2 unit established security requirements, developed the cryptographic algorithm, and defined evaluation criteria, while Viettel Semiconductor Centre designed and implemented the chip. Based on the open RISC-V instruction set architecture, the underlying platform enables Vietnamese engineers to modify processor designs and reuse established verification processes for future chip generations.

VGC v1.0 has already seen initial deployment in secure USB storage devices for Party, government, and defence agencies. Planned applications include supporting Vietnam's national digital signature certification system, which has more than two million digital certificates in circulation.

Other potential uses span financial data protection, connected cameras and sensors, and critical infrastructure systems in electricity, water, oil and gas, and telecommunications. Products intended to protect state secrets would require further testing and certification under applicable standards.

"Researching, designing and developing secure semiconductor chips is a formidable challenge, requiring years of accumulated expertise, technological capabilities, and highly skilled talent. However, we believe that starting later does not mean accepting dependence on others. With the right strategy, focused resources, and sustained commitment, we can steadily close the gap and move towards mastering technologies of strategic importance to our country," said Tao Duc Thang, chairman and CEO of Viettel Group.

At the launch, the Government Cipher Committee and Viettel Group signed an agreement covering plans for volume production, multicore security chips, specialist workforce development, and testing on real devices. Viettel is also building a semiconductor fabrication plant in Hoa Lac as part of broader efforts to develop domestic capabilities across chip design, manufacturing, and packaging.

Beyond the initial chip, the initiative establishes a foundation for future generations of security hardware, supporting Vietnam's long-term efforts to reduce technological dependence and strengthen control over critical digital technologies.

Nearly two-thirds of Viettel’s IBA awards from overseas markets A total of 22 out of 31 awards granted to Viettel at the 2026 International Business Awards came from overseas markets.

Samsung Electro-Mechanics to add $1.85 billion semiconductor investment in Thai Nguyen Samsung Electro-Mechanics, part of South Korean conglomerate Samsung Group, plans to invest $1.85 billion to expand semiconductor packaging substrate production in Vietnam, meeting growing demand from AI server and high-performance processor markets.

Foreign investors pour billions into Vietnam's semiconductor sector Existing foreign investors have poured additional billions of dollars into semiconductor testing, packaging, and advanced materials production to meet the increasing demand for chips in data centres.

The factory, located in Bau Bang Industrial Park in Ho Chi Minh City, halted production on November 2, according to Ho Chi Minh City Export Processing Zones and Industrial Parks Management Board. The company employs 1,611 people, including 259 outsourced workers.

The move is part of ECCO Group's global restructuring strategy to reduce costs amid a challenging economic environment. After years of declining demand and significant overcapacity, the group aims to concentrate production at a few existing plants, with a focus on expanding its headquarters in Denmark and other existing factories to achieve long-term sustainability.

A small number of employees will remain over the next few months to assist with completing the dissolution process in accordance with regulations. They will be informed of their subsequent working arrangements. The employment contracts of most employees will be terminated on November 30.

Established in Denmark in 1963, ECCO is a footwear brand with manufacturing operations in Vietnam.

Construction of the Bau Bang footwear factory began in October 2019 across 120,000 square metres, with registered investment capital of $38.18 million. The facility commenced operations in April 2020.

As reported by Women's Wear Daily, ECCO has also decided to cease operations at its Portugal factory, which has about 650 workers. The Danish shoemaker's global restructuring also includes about 400 additional positions that will be lost across global and regional functions.

ECCO has been under pressure over the years. All sales channels experienced declining sales, most profoundly in its own operated direct-to-consumer business.

Why Asian FDI is flowing into northern Vietnam’s industrial parks Global supply chain shifts are boosting Asian investment in northern Vietnam, where upgraded transport infrastructure, strategic connectivity and new industrial parks are strengthening the region’s manufacturing appeal.

Foreign investors seeking a synchronised manufacturing ecosystem Instead of focusing only on land costs and incentives as usual, foreign investors are seeking a synchronised manufacturing ecosystem, from stable power supply and logistics to shared infrastructure and the convenience of completing residence procedures for experts to serve their long-term investment in the country.

Vietnam manufacturing growth eases in October as export orders fall The Vietnamese manufacturing sector continued expansion in October, although price increases and supply issues limited growth in some cases.

Having worked in household electrical repairs and motor winding for nearly 18 years, Le Thi Ngoc Lan has built a solid reputation among customers in Da Bac. Photo: THND

Her story is a testament to resilience in the face of adversity and the spirit of sharing within the community – values that Tan Hiep Phat Beverage Group hopes to help spread through its Noi Tron Yeu Thuong (Connecting with Love) programme.

With mobility difficulties caused by polio in childhood, Lan once felt that she was less fortunate than others. Some people who came to her shop were initially motivated by sympathy for her circumstances.

Over time, however, she came to understand that what mattered most in earning customers’ trust and bringing them back was her technical skill, meticulousness and sense of responsibility in every job.

From a woman who had to work hard to adapt to her physical limitations, she has become someone who can earn her own income, support her family, and create vocational training opportunities for others in similar circumstances.

From painful first steps to skilled hands

Born healthy, Lan contracted a fever at just six months old that left her with muscle atrophy in her legs. Walking thus became a challenge from her earliest years. It was not until she was eight that she began learning to walk, taking her first steps while holding on to objects for support.

Despite her mobility difficulties, she was eager to learn and was well liked by her teachers and classmates. After years of schooling in her hometown, she continued her education in Hanoi, determined to find a way to become independent through her own abilities.

In household electrical repairs and motor winding, her physical limitations made the work all the more arduous.

The job, which already requires dexterity, demanded even more time and effort from Lan as she adapted to it. But she refused to give up. The patience she had developed through learning to walk, mastering vocational skills and completing each job helped her accumulate experience and steadily improve her craft.

After 18 years in the trade, Lan has established her own reputation. Regular customers say she works with dedication and enthusiasm, carries out repairs thoroughly and charges reasonable prices. It is this commitment that has earned her their trust on the strength of her own abilities.

By her side is her husband, who has been with her for nearly 20 years and has always admired her intelligence, resourcefulness and ability to manage her work. Her family has become a source of support, giving her greater confidence on her journey towards independence.

What makes Lan's story particularly admirable is not simply her ability to overcome her own difficulties. As her business gradually became more stable, she began thinking about others who were also struggling to find a way forward in life.

Passing on skills and inspiring others to become independent

Drawing on her own experience, Lan understands how meaningful it is for people with disabilities to have a suitable job. That is why she has chosen the most practical way she can to help: passing on her electrical repair skills to those who need them, particularly people facing difficulties in life.

Editors Nhat Mai and Thanh Vu - an ultra-endurance athlete, and representative of Tan Hiep Phat, try their hand at motor winding. Photo: THND

She provides free vocational training, starting with the most basic techniques. Patiently, she explains important details, reminds learners not to rush and emphasises the need for care and precision in every step.

For Lan, passing on a trade is not simply about showing others how to do a job. What she hopes most is that learners will master the skills, find suitable employment, earn an income and support themselves.

Alongside vocational training, Lan also provides free repair services for people with disabilities and those in difficult circumstances. While the material assistance may not be substantial, her empathy and compassion bring immense emotional value to those who receive it.

Beyond her work at the shop, Lan actively participates in social activities in various capacities. She is chairwoman of Hoa Binh Club for Youth with Disabilities, a member of the Executive Committee of Vietnam Association of Youth with Disabilities, and a member of the Executive Committee of Phu Tho Association for the Support of People with Disabilities and Orphans.

Through these activities, she has more opportunities to connect with benefactors and mobilise resources to support people with disabilities who have limited opportunities to socialise and access assistance. Her efforts help those facing similar circumstances become more confident and take a more active role in integrating into society.

When residence and kindness go hand in hand

Resilience enables people to overcome adversity, while kindness allows positive values to spread beyond an individual's own story. When these two qualities come together, one person's journey to a better life can transform their own circumstances while creating opportunities for many others.

This is also the spirit behind Tan Hiep Phat's 'Connecting with Love' programme, which shares stories of people in need of care and support and honours those who strive every day to overcome difficulties and live responsibly towards themselves, their families and the community.

The people featured do not necessarily have to achieve extraordinary feats. They may be individuals who work diligently to support themselves while willingly passing on their skills and trades to others, or those who, despite facing hardships in their own lives, choose to help people less fortunate than themselves.

Le Thi Ngoc Lan's story is one such example. Having overcome her own limitations to pursue a career in household electrical repairs and motor winding, she also devotes her time to providing free vocational training to others facing similar circumstances, helping them gain more opportunities to earn an income, become independent and build confidence in the future.

Representatives of Tan Hiep Phat Group meet with Le Thi Ngoc Lan and listen to her story as part of the Connecting with Love programme. Photo: THND

Sharing its commitment to the initiative, a Tan Hiep Phat representative said the company has consistently valued people who rise above adversity through their own determination while creating positive value for society. This is why Tan Hiep Phat Group has accompanied the 'Connecting with Love' programme for many years, with the aim of helping spread authentic stories of resilience, compassion and a sense of responsibility towards others.

Through the programme, the company hopes that these uplifting stories will foster empathy as well as inspire practical action, contributing to a community where people share, care for, and support one another.

Tan Hiep Phat awards 200 scholarships to disadvantaged students in Binh Duong On October 28, Tan Hiep Phat, Vietnam's leading beverage manufacturer, joined forces with Binh Duong Youth Union to award 200 scholarships to underprivileged students.

Tan Hiep Phat - three decades of serving society Since its inception in 1994, beverage-maker Tan Hiep Phat has contributed to the prosperity of society and aspired to be the pride of Vietnam.

Tan Hiep Phat - 30 years of perseverance and breakthroughs Overcoming challenges, many beverage businesses have affirmed their breakthrough with synergy coming from a chain of links that have been persistently built over decades.

Hanoi High School Student Football Tournament kicks off The opening ceremony of the 24th Hanoi High School Student Football Tournament – ​​Capital Security Newspaper Cup 2025, Number 1 Active Cup kicked off on October 26.

PRA Group President and Chief Executive Officer Martin Sjolund rang the bell alongside co-founder and Executive Chairman of the Board Steve Fredrickson, the company's senior leadership team and employees representing PRA Group's global workforce.

"Celebrating 30 years of business is especially meaningful because this milestone belongs to the people who have helped make PRA Group what it is today," said Sjolund. "Our people are the reason we've grown from a startup in Virginia into a global company, and they are the reason we're excited about our next chapter."

Founded in Norfolk, Va., in 1996, PRA Group has grown into one of the most globally diversified companies in the nonperforming loan industry, with portfolio operations in 18 countries. The company has been publicly traded since 2002 and continues to play an important role in the financial ecosystem by returning capital to banks and other creditors while working directly with customers to help them resolve their debt.

"As proud as we are of our first 30 years, we're even more excited about what comes next," Sjolund said. "Together, we're advancing our new PRA 3.0 strategy introduced earlier this year, which is focused on helping us become a high-performing, technology-enabled global allocator of capital. I am proud of what our team has accomplished, and we look forward to continuing to deliver value to our customers, employees, partners and shareholders."

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

The first Letter notified the Company that, based upon the Company's MVLS for the 30 consecutive business days from September 16, 2026 through October 27, 2026, the Company no longer meets the requirement under Nasdaq Listing Rule 5450(b)(2)(A) to maintain market value of listed securities ("MVLS") of at least $50 million (the "MVLS Requirement"). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rule 5450(b)(3) (A).

Pursuant to Nasdaq Listing Rule 5810(c)(3)(C), the Company has a compliance period of 180 calendar days, or until April 26, 2027, to regain compliance with the MVLS Requirement. If at any time during the compliance period the Company's MVLS closes at $50 million or more for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation of compliance and the matter will be closed.

The second Letter notified the Company that, based upon the Company's MVPHS for the 30 consecutive business days from September 16, 2026 through October 27, 2026, the Company no longer meets the requirement under Nasdaq Listing Rule 5450(b)(2&3)(C) to maintain a minimum market value of publicly held shares ("MVPHS") of $15 million (the "MVPHS Requirement").

Pursuant to Nasdaq Listing Rule 5810(c)(3)(D), the Company has a compliance period of 180 calendar days, or until April 26, 2027, to regain compliance with the MVPHS Requirement. If at any time during the compliance period the Company's MVPHS closes at $15 million or more for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation of compliance and the matter will be closed.

If the Company does not regain compliance prior to the expiration of the applicable compliance period, the Company will receive written notification that its securities are subject to delisting. At that time, the Company may appeal the delisting determination to a Hearings Panel.

The Company intends to monitor its MVLS and MVPHS and evaluate available options to regain compliance with the applicable continued listing requirements within the compliance period.

There can be no assurance that the Company will regain compliance with the applicable Nasdaq continued listing requirements within the compliance period or otherwise maintain compliance with Nasdaq's other continued listing requirements.

The brand will launch on Nordstrom.com and roll out in phases to seven select Nordstrom stores, with broader availability through Nordstrom Rack stores nationwide and online. The launch builds on MDP+'s presence on Amazon, TikTok Shop, and Olive Young Global.

The Nordstrom assortment highlights MDP+'s signature Peptide 9 collection and targeted neck care products.

The Peptide 9 Bio Sun Stick Pro is an SPF 50 sunscreen stick designed for easy, mess-free reapplication throughout the day, including over makeup. It has become a standout product for MDP+ in the U.S., with more than 450,000 units sold on TikTok Shop to date. The broader Peptide 9 collection features peptide-based formulas designed to support skin firmness and volume.

The Neck Care collection includes the Collagen Naite Thread Neck Cream, known for its distinctive thread-like texture, and the Naite 1000 Shot Neck Stick. The assortment also features products from MDP+'s Red Lacto Collagen collection.

An expanded eight-product assortment will be available on Nordstrom.com and through Nordstrom Rack, both in stores nationwide and online. Additional offerings include the Red Lacto Collagen Wrapping Mask, Red Lacto Collagen Clear Foam Cleanser, Red Lacto Collagen Cleansing Oil, Peptide 9 Volume & Tension Cream Pro, and Peptide 9 Volume Ampoule Pro.

MDP+ will roll out in phases to the following Nordstrom locations: Downtown Seattle in Seattle, Washington; Oakbrook Center in Oak Brook, Illinois; Mission Viejo, California; Arcadia, California; Frisco, Texas; Coral Gables, Florida; and Ala Moana Center in Honolulu, Hawaii.

"Launching at Nordstrom is an important milestone as we continue to build MDP+ in the U.S.," said an MDP+ spokesperson. "Building on our growth on Amazon and TikTok Shop, we're focused on introducing more U.S. consumers to MDP+ and our approach to Korean derma skincare through a broader mix of retail channels."