Australia is now taking a different approach. Following the termination of its Business Innovation and Investment Programme in 2024, the government has introduced the National Innovation Visa (NIV) to attract entrepreneurs, founders, investors, researchers, and individuals with notable international achievements.

With the introduction of the NIV programme, the country is signalling a broader shift in immigration policy – from attracting capital to attracting capability. The programme places greater emphasis on an individual's ability to generate innovation, commercialise ideas and contribute to Australia's long-term economic growth than on the size of their investment portfolio. Rather than replacing one investment visa with another, Australia has redefined what it considers to be a valuable economic contribution.

Human capital takes centre stage

The decision reflects a broader transformation in Australia's economic priorities.

As industries such as AI, advanced manufacturing, clean energy, biotechnology and digital technologies reshape the global economy, governments are increasingly competing for highly skilled entrepreneurs, researchers, and innovators instead of simply competing for investment dollars.

Under this strategy, individuals with internationally recognised achievements, commercial innovation, research excellence or leadership in priority industries are viewed as long-term economic assets capable of creating businesses, developing new technologies, generating employment and strengthening national competitiveness.

In this context, human capital has become as strategic asset alongside financial capital.

A global race for talented entrepreneurs

Australia is not alone.

Across developed economies, immigration policy is increasingly being used as an economic development tool. Rather than measuring applicants solely by their net worth, governments are placing greater value on intellectual property, entrepreneurial achievements, research output, industry recognition and the potential to contribute to future-focused sectors.

The National Innovation Visa reflects this direction by targeting individuals whose expertise aligns with Australia's strategic priorities, including AI, cybersecurity, advanced manufacturing, health and medical technologies, clean energy, fintech, agri-tech and other innovation-driven industries.

The objective extends beyond attracting successful individuals. It is about strengthening Australia's capacity to innovate, improve productivity and remain globally competitive over the coming decades.

Over the past decade, Vietnam has emerged as one of Southeast Asia's fastest-growing innovation ecosystems. A new generation of entrepreneurs has built technology companies, expanded into international markets, secured overseas investment, registered intellectual property and collaborated with multinational corporations, research institutions and global universities.

Achievements that were once viewed primarily as professional milestones are increasingly becoming valuable credentials within Australia's talent-focused immigration framework.

For founders, technology executives, researchers and specialists, the strength of a professional profile may now carry greater weight than the size of an investment.

A great opportunity for Vietnamese entrepreneurs

The changing landscape also creates new opportunities for Vietnamese professionals and business leaders.

Rather than asking how much capital an applicant can invest, the conversation is increasingly centred on what value that individual can create for the economy over the long term.

Professional achievements, innovation capability, commercial impact, industry leadership and international recognition are becoming important indicators of an applicant's potential contribution.

For many globally minded entrepreneurs, investing in personal capability, through innovation, expertise and a proven track record, has become an investment in itself.

As governments compete more aggressively for world-class talented professionals, investment migration is evolving beyond financial resources. It demands a carefully structured strategy that presents an applicant's achievements, experience and long-term contribution in a way that aligns with national priorities.

With more than three decades of experience in immigration law across multiple jurisdictions, Harvey Law Group advises entrepreneurs, business leaders and highly skilled professionals on developing competitive profiles and identifying immigration pathways aligned with their long-term global ambitions. For more information about the National Innovation Visa, please contact Harvey Law Group at +84 91 444 1016.

Australia provides $1.3 million to support joint research projects with Vietnam On June 16, a new partnership to fund collaborative research projects between Australia and Vietnam is open.

Powering Vietnam’s climate transition The Australian government on May 26 announced a commitment of up to $10 million for venture capital firm Do Ventures Fund II, providing capital for climate-focused Vietnamese businesses and strengthening Vietnam's climate investment market to attract greater private finance.

Vietnam and Queensland deepen education ties to power innovation On April 15, the National Innovation Centre (NIC) under the Ministry of Finance, in collaboration with Trade and Investment Queensland (TIQ), hosted the Education for Innovation Showcase in Hanoi, bringing together around 80 representatives from government agencies, universities, research institutes and businesses across Vietnam and Australia.

Can Tho is witnessing a strong influx of investment into renewable energy, particularly wind power. Can Tho People's Committee has approved Vistahome to develop the 400MW Vinh Hai 1 wind power project, with total investment of $611 million.

Meanwhile, Gelex Infrastructure JSC has been approved to build the 129MW Vinh Hai coastal wind power plant, backed by nearly $230 million in investment.

On May 19, construction began on two more major wind power projects. Soc Trang 1 Energy Investment is developing the 350MW Soc Trang 4 wind power plant, comprising 56 turbines across more than 1,200 hectares of alluvial plain and coastal waters in Vinh Chau ward. The project carries an investment of around $557.69 million.

At the same time, Phu Cuong Wind Power broke ground on the Phu Cuong 1A and 1B wind power cluster and a 220kV substation in Lai Hoa commune. The development has a designed capacity of 200MW and investment of $351.54 million.

Speaking at the groundbreaking ceremony for the Soc Trang 4 project, Truong Canh Tuyen said it would play a key role in the city's renewable energy strategy, green growth agenda, and energy transition, while supporting Vietnam's commitment to reducing greenhouse gas emissions.

Once operational, the plant is expected to generate around 1,174GWh of clean electricity annually for the national grid, while helping unlock the region's renewable energy potential, creating jobs, boosting budget revenue, and supporting local socioeconomic development.

The groundbreaking ceremony for the Soc Trang 4 wind power plant on May 19

Since the beginning of the year, Can Tho has continuously received applications for new renewable energy projects. On June 25, CRC Solar Cell JSC submitted an application for the Thanh Tri branch solar farm in Tan Long commune, with a designed capacity of 50MW.

Many major investors are also keen on renewable energy developments in Can Tho. Proposed ventures include the 50MW Lac Hoa 3 wind power by XCE Energy, the 200MW Vinh Tan wind power by a consortium of REE Corporation and 299 Construction, the 129MW nearshore wind power plant in Vinh Hai by Gelex Infrastructure, and the 400MW Vinh Hai 1 wind power by Vistahome.

Meanwhile, T&T Group is conducting surveys and feasibility studies for renewable energy ventures in Vinh Chau ward, Khanh Hoa ward, and Vinh Hai commune, with a combined planned capacity of around 250MW.

Can Tho boasts several outstanding advantages for wind power thanks to its 72km coastline, alluvial plains, and sea surface. This is coupled with stable wind speeds and favourable technical conditions. Can Tho is emerging as one of the most promising renewable energy locations in the region.

Estimates suggest that Can Tho could support between 10,000MW and 30,000MW of coastal and offshore wind generation. The city boasts a massive clean energy resource, providing the foundation for a green economic growth strategy. Renewable energy has become a new growth driver for Can Tho while ensuring energy security for the entire Mekong Delta region. It also creates sustainable budget revenues.

According to the National Power Development Master Plan for the 2021-2030 period, Can Tho is expected to develop 56 power generation projects with a combined capacity of 9,154MW by 2030. The plan includes 30 wind power projects totalling around 2,785MW.

Investment approval has been granted for 22 wind power projects with a combined planned capacity of 1,957MW. Of these, nine have entered commercial operation, including Quoc Vinh Soc Trang, Wind Power Plant No. 7, Hoa Dong (Phase 1), Lac Hoa (Phase 1), Hoa Dong 2 (Phase 2), and Lac Hoa 2 (Phase 2), with a combined installed capacity of about 396MW.

Under Decision No.3639/QD-UBND, issued on December 31, 2025, approving adjustments to the Can Tho City Master Plan, the city aims to become a modern river-sea hub for Southeast Asia and a green, smart gateway to the Mekong Delta. The plan positions Can Tho as a regional centre for energy, river-sea logistics, high-end urban services, green and circular industries, and low-emission agricultural value chains.

To support this vision, the city is developing a modern, sustainable energy system that strengthens energy security while underpinning socioeconomic growth. By 2030, Can Tho targets total power generation capacity of 10-12GW, with renewable energy contributing 20-25 per cent of the primary energy supply.

The city is also prioritising the development of renewable, clean and emerging energy sources, while encouraging investors to research and implement projects involving hydrogen, hydrogen derivatives, ammonia, offshore wind power, and solar power integrated with hydrogen and ammonia production. These initiatives are intended to create a green energy ecosystem.

Leveraging its abundant natural resources and investor-friendly policies, Can Tho is steadily positioning renewable energy as a new pillar of economic growth, strengthening energy security while advancing the region's green and sustainable development.

Can Tho poised to become Mekong Delta growth engine Can Tho continues to attract major investors, aiming to tap the city’s strategic location, resources, and growth potential.

Can Tho levels-up industrial infrastructure for growth Can Tho is accelerating its push to build large-scale industrial zones and clusters with modern infrastructure, positioning the city as a key driver of development in the Mekong Delta.

Can Tho eyes transformation into a modern international logistics hub Leveraging strategic infrastructure and ambitious investment plans, Can Tho city is positioning itself as a modern international logistics hub serving the Greater Mekong subregion.

As industrial growth, urbanisation and the rapid rise of data centres push electricity demand higher, the real challenge lies in moving, storing and stabilising that power – and in building the cross-border connections that will allow countries to share it.

On June 30, complex project delivery consultancy TBH published a new report, “Connecting Southeast Asia’s Energy Future,” examines the energy transition underway across six major markets – Malaysia, Thailand, Indonesia, Vietnam, the Philippines and Singapore. It sets out why generation, transmission, storage and cross-border connectivity need to be planned together, and what is required to turn the region’s growing ambitions into deliverable outcomes.

Ali Nami, director and energy lead at TBH, said, “Southeast Asia's energy transition is entering a new phase. Many countries are making significant investments in generation capacity, but the focus is increasingly shifting towards transmission, storage and connectivity. The ability to coordinate these investments and translate them into reliable outcomes will play a major role in shaping the region's long-term energy future.”

According to the report, Vietnam has emerged as one of Southeast Asia’s fastest-growing energy markets, driven by manufacturing expansion, industrial growth and sustained foreign investment. The country has rapidly expanded renewable generation capacity over recent years. This pace of development has increased pressure on transmission networks, grid capability and broader infrastructure planning, particularly as industrial electricity demand continues to accelerate.

Vietnam increasingly illustrates the importance of aligning renewable expansion with long-term investment in transmission, storage and network resilience. The market highlights how quickly energy demand profiles can evolve when industrial growth, manufacturing activity and generation investment accelerate simultaneously.

Malaysia is increasingly a major hub for data centre investment – particularly in Johor and Greater Kuala Lumpur – putting new pressure on grid reliability and long-term planning. Thailand is expanding solar and other renewables, including floating solar, while balancing the needs of an established industrial economy with affordability and energy security.

Indonesia faces some of the most complex delivery challenges in the region, requiring major investment in generation, transmission and storage across a vast island network. The Philippines is focused on strengthening energy resilience and modernising its network, with offshore wind emerging as a long-term opportunity.

Singapore, with limited domestic renewable resources and rising demand from digital infrastructure, is increasingly positioning itself as a regional hub for low-carbon electricity imports, financing and cross-border energy connectivity – a role that is helping to accelerate broader regional conversations around transmission and power trading.

Michael Tan, country manager – Malaysia at TBH, said, “Electricity demand is increasing rapidly across the region, driven by industrial growth and the expansion of digital infrastructure. Ensuring energy systems can support that growth will require careful planning, coordinated investment and a long-term view of future demand.”

As more solar and wind capacity comes online across Southeast Asia, managing the stability of power networks is becoming as important as building new generation. Keeping supply and demand in balance and ensuring the grid can handle rapid fluctuations in output are emerging as critical challenges alongside the push to add capacity.

Storage is identified as a critical piece of the puzzle, not just to support renewables, but to manage peak demand, improve reliability and keep power flowing steadily as grids become more complex.

The report examines the growing momentum behind regional energy integration, including the ASEAN Power Grid concept and the ASEAN Plan of Action for Energy Cooperation 2026-2030. Greater cross-border connectivity, the report argues, has the potential to support more efficient power distribution, stronger network resilience and improved energy security, particularly where countries have different renewable resources, demand profiles and domestic generation capacity.

Singapore and Malaysia are identified as likely early movers in regional interconnection, given their infrastructure networks, institutional capability and existing roles in regional energy and digital markets. Indonesia’s scale and proximity to Singapore also give it growing strategic relevance within broader discussions about cross-border power flows.

The next phase of the energy transition will be defined as much by delivery as by investment. As energy projects grow larger and more interconnected, some of the greatest challenges arise at the points where different projects, funding streams and regulatory systems meet, and where delays in one area can hold back progress across many others.

Transmission upgrades, grid modernisation, storage and cross-border interconnection are the likely areas of future investment. Each brings distinct challenges around financing, regulatory alignment and stakeholder coordination, and none can be treated in isolation from the others.

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Pacifico Energy obtains survey licence for offshore wind venture Pacifico Energy on April 14 announced that the company is expanding its energy infrastructure footprint in Vietnam with a site survey licence for a 500MW offshore wind project.

The signing ceremony, held on July 3, marks an important milestone and demonstrates both parties' commitment to leveraging their respective strengths in support of Khanh Hoa's rapid and sustainable development goals through 2030 and beyond.

The agreement comes as Khanh Hoa enters a new stage of development with the objective of becoming a centrally governed municipality before 2030 in accordance with the Politburo's Resolution No.09-NQ/TW.

Under the provincial master plan for the 2021-2030 period, Khanh Hoa has adopted a development model built around "one shared vision, two connectivity corridors, three growth poles and four strategic economic pillars."

Sci-tech, innovation and digital transformation are identified as the primary drivers of growth, while Van Phong Economic Zone, the Nha Trang-Cam Lam-Cam Ranh corridor and the southern part of the province will serve as the province's three key growth centres, creating stronger links among industry, logistics, services, tourism, the marine economy and modern urban development.

The new master plan aims to position Khanh Hoa as one of Vietnam's leading marine economic centres, a smart city and a regional innovation hub, with priority given to the development of strategic infrastructure, digital infrastructure, data centres, AI, marine technology, new energy, logistics and high-value service industries.

These priorities are expected to provide a strong foundation for attracting greater domestic and international investment in the years ahead.

To realise these ambitions, the provincial government considers mobilisation of private-sector resources, particularly financing from financial institutions such as MB and strategic investors, to be a critical component of its long-term strategy.

Speaking at the signing, Nguyen Viet Hung, Deputy Secretary of Khanh Hoa Party Committee and Chairman of Khanh Hoa People's Committee, praised MB's financial capacity, technological capabilities and digital ecosystem.

"We expect MB to become a strategic partner in mobilising capital, providing investment advisory services, connecting businesses, and supporting the province in implementing infrastructure projects, digital transformation initiatives, and socioeconomic development programmes," he said.

Nguyen Viet Hung, Deputy Secretary of Khanh Hoa Party Committee and Chairman of Khanh Hoa People's Committee. Photo: MB

After nearly 32 years of development, MB has grown into one of Vietnam's leading financial groups, with consolidated total assets exceeding $64 billion as of the end of 2025. The bank currently serves 38 million customers through its comprehensive financial ecosystem.

MB is also the first joint stock commercial bank in Vietnam whose outstanding loans and customer deposits have both surpassed $40 billion, reinforcing its leadership in digital transformation and its ambition to become a leading digital enterprise and financial group.

In Khanh Hoa, MB has operated for nearly two decades with 11 transaction offices and currently holds the leading market share among joint stock commercial banks in both lending and deposit mobilisation. Beyond providing modern financial solutions to businesses and individuals, the bank has actively implemented numerous social welfare programmes that contribute to the province's sustainable development.

"MB has always viewed its mission as extending beyond financial services. We are committed to serving as a long-term partner to the government, local authorities and the business community in creating sustainable development value," said Luu Trung Thai, chairman of MB's Board of Directors at the ceremony.

Luu Trung Thai, chairman of MB's Board of Directors

Under the MoU, both parties agreed to pursue several strategic areas of cooperation aimed at leveraging their respective strengths to support local socioeconomic development.

The two sides will strengthen information sharing on development priorities, investment demand and the province's strategic sectors, while jointly organising investment promotion, trade promotion, tourism promotion and business networking activities.

They will also explore the deployment of digital transformation solutions, cashless payment systems, digital banking services and broader digital financial services to support the operations of government agencies, businesses and residents.

The cooperation framework further includes connecting financial institutions, technology companies and domestic and international resources to support socioeconomic development, alongside joint implementation of social welfare initiatives, financial literacy programmes and community development projects.

In addition, MB will study opportunities to arrange financing and provide financial solutions for transport infrastructure, industrial parks, logistics, energy, urban development and tourism projects. The bank will also leverage its network to connect domestic and international strategic investors with investment opportunities in Khanh Hoa.

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Hanoi partners with five banks to raise up to nearly $8 billion through bond issuance Hanoi has signed MoUs with five big commercial banks to support the issuance of local government bonds, with plans to raise between $6-7.8 billion during 2027-2030 to finance key infrastructure projects, particularly the capital's urban railway network.

Lenders turn to bond market to strengthen capital base Vietnamese banks are stepping up bond issuance plans worth billions of dollars to replenish capital sources, support lending growth and secure long-term funding amid rising financing demand across the economy.

According to the Vietnam National Authority of Tourism (VNAT), international arrivals in the first half of the year are estimated to have reached 12.2 million, up 14.8 per cent on-year and equivalent to 48.8 per cent of the government’s target for 2026.

Domestic tourism also remained resilient, with an estimated 81 million trips recorded during the period, representing 54 per cent of the annual target. Total tourism revenue is estimated at nearly $22 billion, fulfilling 50.5 per cent of the full-year plan.

For 2026, Vietnam aims to attract 25 million international visitors and 150 million domestic travellers, generating total tourism revenue of approximately $43.3 billion.

To sustain growth in the second half of the year, the tourism authority plans to diversify its international visitor base while consolidating traditional source markets including South Korea, China, Japan, and Taiwan. Promotional efforts will also be expanded to high-potential markets such as India, the Middle East, Europe, and North America.

VNAT said it would continue refining policies to support the government’s strategy to develop tourism into a key economic sector. This includes proposals to amend the Tourism Law and related regulations to improve the industry’s competitiveness

The authority is also preparing development plans for tourism in the Red River Delta, wellness tourism, and tourism linked to the production and consumption of One Commune One Product goods. In parallel, it will review and update Vietnam’s Tourism Development Strategy to 2030.

Priority will also be given to strengthening the competitiveness of Vietnamese tourism enterprises, encouraging deeper participation in global tourism value chains, and boosting rural, agricultural, and wellness tourism. Other priorities include improving tourism statistics in line with international standards, enhancing destination management, raising service quality, and strengthening environmental protection.

On the international front, Vietnam will organise tourism promotion programmes in key and emerging markets while supporting activities under the Vietnam-China Tourism Cooperation Year 2026-2027 and the National Tourism Year 2026 hosted by Gia Lai province.

The country will also participate in major international tourism events, including WTM London 2026 and ITE Ho Chi Minh City 2026, alongside a series of domestic and regional tourism conferences aimed at expanding international partnerships and encouraging sustainable tourism.

Tourism sector striving to meet year-end visitor targets According to the Vietnam National Authority of Tourism (VNTA), international tourist arrivals hit 1.42 million in October, up almost 28 per cent on-year. The total number of international visitors to Vietnam in the first 10 months of 2024 exceeded 14 million, a more than 41 per cent increase compared to the same period last year.

International visitors to Vietnam decreased in April Vietnam welcomed approximately 1.65 million international visitors in April, representing a 19.5 per cent decrease from March.

Vietnam welcomes over 12 million international visitors in seven months Vietnam recorded a historic influx of international tourists in the first seven months of 2025, welcoming more than 12.2 million foreign arrivals, up nearly 23 per cent on-year, according to the Vietnam National Authority of Tourism (VNAT).

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International arrivals to Vietnam hit record high in October Vietnam welcomed 1.73 million international visitors in October, the highest figure ever recorded for this month and an increase of nearly 14 per cent against September, according to data released by the General Statistics Office (GSO) on November 6.

Halong Cruise Port welcomes over 3,100 international visitors Quang Ninh has welcomed a surge of international cruise arrivals, highlighting the province’s growing appeal as a heritage and tourism destination.

Vietnam welcomes record wave of international visitors Vietnam’s tourism sector is booming – international arrivals have topped pre-pandemic levels, together with rising demand from North America.

Vietnam welcomes over 2.2 million international visitors in February Vietnam received more than 2.2 million international visitors in February, bringing the total for the first two months of the year to 4.68 million, up 18.1 per cent on-year.

According to travel platform Traveloka in June, domestic accommodation searches by Vietnamese travellers rose 46 per cent in April-May compared to January-February, underscoring the strong rebound in Vietnam’s domestic tourism market.

The growth is driven by the increasing popularity of short trips lasting two to four days, which are well suited to long weekends and summer holidays.

Travel trends such as micro-holidays, staycations, and short-haul getaways are becoming increasingly popular as travellers prioritise destinations within one to three hours of their residences, allowing them to maximise both their time and travel budgets.

According to Huynh Thi Mai Thy, country director of Traveloka Vietnam, itineraries from Ho Chi Minh City to Vung Tau, from Hanoi to Halong, and from Danang to Hoi An and Hue are attracting numerous tourists due to their convenience and diverse experiences.

"Coastal destinations continue to play a central role during the summer travel season, but the way travellers choose destinations is changing," Thy said. "Beyond pristine beaches and resort stays, Vietnamese people are increasingly prioritising destinations that are both easily accessible and rich in diverse experiences."

Danang continues to be among Vietnam’s most sought-after destinations, with searches for accommodation in Marble Mountains, Son Tra Peninsula, and Hoi An all increasing by over 45 per cent. Meanwhile, Halong Bay recorded an almost threefold increase in accommodation searches, highlighting growing demand for destinations that offer rich experiences in a short period of time.

“Luxury beach and island holidays still retain their strong appeal. At the same time, more and more Vietnamese tourists are viewing beach trips as experiences that are accessible and can be enjoyed more frequently, rather than aspirational, once-in-a-while holidays,” Thy said.

According to Traveloka’s market analysis, domestic travel demand during June and July is concentrated primarily in major tourist centres such as Danang, Phu Quoc, Ho Chi Minh City, and Hanoi. Simultaneously, demand for international travel is also increasing thanks to festivals, music events, and large-scale entertainment performances in countries across the region.

While domestic tourism continues to play a dominant role, regional data from Traveloka also shows significant interest in international travel, driven by large-scale entertainment events, music festivals, and international concert tours in neighbouring destinations.

Besides the market expansion, consumer behaviour among travellers has also changed significantly. A representative from Vietluxtour stated that the market is shifting from price competition to competition based on product and service quality.

“After many market fluctuations, the consumption behaviour has changed significantly. Tourists are still willing to spend on trips, but they now have much higher expectations on the quality of the experience, transparency, and the value they receive,” he said.

According to the company, tours that retain customers are no longer those offered at the lowest prices, but rather those that deliver a genuine sense of value for money, giving travellers peace of mind throughout their journey. Therefore, the company’s goal is to maximise revenue during peak season as well as build a loyal customer base through high-quality services.

Photo: Duc Hanh

Data from the digital travel platform Agoda shows that tourists are increasingly seeking destinations that combine natural beauty, rich culture, and a spirit of exploration, from pristine islands and beaches to heritage centres and cool-climate highland regions.

Domestically, Ly Son (Quang Ngai), Mai Chau (Phu Tho), and Mang Den (Kon Tum) have emerged as new destinations attracting growing interest from travellers this summer. In the international market, Cebu (the Philippines), Kaohsiung (Taiwan), and Barcelona are among the most searched-for destinations.

To meet evolving preferences, tour operators are continuously refreshing their product offerings. Besides traditional resort tours, many new types of tourism such as trekking, mountain climbing, cave exploration, sports tourism, and cloud hunting in the northern mountainous regions are attracting growing interest. Some high-end experiential products, such as helicopter tours combined with cruises to admire Ho Chi Minh City or expeditions to Son Doong Cave, continue to generate strong demand.

Nguyen Van Tai, director of VietSense Travel, noted that transportation costs, especially airfares, remain high, leading many middle-income tourists to prioritise nearby destinations that can be reached by road or rail.

“Businesses are also becoming more flexible by breaking down services rather than offering only all-inclusive tour packages, allowing customers to choose individual items such as air tickets, accommodation, transportation, or visa services to optimise their costs,” he said.

This trend is helping destinations such as Quang Ninh, Haiphong, Thanh Hoa, and Nghe An become increasingly popular among travellers from northern Vietnam. Meanwhile, Quang Binh, Danang, and Nha Trang continue to be favoured by families as preferred destinations for longer beach holidays.

Meanwhile, Bui Thanh Tu, marketing director of BestPrice Travel, believes that the market is clearly forming a segment of customers willing to spend more on highly personalised travel experiences.

“Many tourists are willing to spend a significant amount on unique travel products, high-quality services, and tailor-made itineraries,” he said.

“Caravan tours lasting dozens of days across multiple countries, mountain climbing expeditions, cave exploration adventures, and journeys to lesser-known destinations, are becoming increasingly popular among experience-driven travellers with strong spending power.”

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According to the Ministry of Agriculture and Environment (MAE), Vietnamese rice prices edged up by $3-8 per tonne in early July. Jasmine rice rose by $8 to $520 per tonne, while 5 per cent broken fragrant rice gained $5 to $510 per tonne.

Rice prices in other major Asian exporters, including India, Pakistan, and Myanmar, also increased by $2-7 per tonne. The MAE expects prices to continue rising as El Niño intensifies, posing risks to global food production and supplies.

In the first six months of 2026, Vietnam exported 5.2 million tonnes of rice, up 10 per cent on-year. Export revenue, however, fell 2.5 per cent to $2.4 billion as the average export price declined 11.3 per cent to $459.6 per tonne.

The Philippines remained Vietnam’s largest rice market, accounting for 45 per cent of total exports.

China delivered the strongest growth among major buyers. Rice exports to the market surged 87 per cent on-year to more than one million tonnes, raising its share of Vietnam’s total rice exports to 19.4 per cent, the highest level recorded in recent years.

China has traditionally been a major destination for Vietnam’s fragrant rice varieties, particularly ST25 and glutinous rice. The market also tends to increase imports when global rice prices soften, contributing to the sharp rise in purchases during the first half of the year.

Iraq also emerged as a fast-growing market, with imports of Vietnamese rice increasing 132.4 times compared to the same period last year, placing the country among Vietnam’s 15 largest rice export destinations.

According to the MAE, the Middle East has traditionally relied heavily on Thai rice. However, ongoing regional conflicts have disrupted Thailand’s exports to the region, creating opportunities for Vietnamese suppliers to expand their presence.

The ministry said stronger exports to the Middle East could not only diversify Vietnam’s export markets but also enhance the reputation of Vietnamese rice in international markets.

The new law exempts personal income tax on transfers of open-ended fund certificates if they have been held for at least two years. Previously, all transactions were subject to a 0.1 per cent tax on the transfer value, regardless of the holding period.

The legislation also cuts the personal income tax on income distributed by securities investment funds and real estate investment funds from 5 per cent to 2.5 per cent.

Vietnam’s fund management industry remains relatively underdeveloped despite its strong growth potential. At a conference on the development of the fund management industry held late last year, the Ministry of Finance (MoF) said the country’s 43 fund management companies were overseeing assets worth more than $31 billion, seven times higher than in 2014, representing average annual growth of around 20 per cent.

However, most domestic retail investors still prefer trading stocks directly rather than entrusting their assets to professional fund managers.

Deputy Minister of Finance Nguyen Duc Chi has previously said the securities market needs to reshape investors’ mindset, shifting from “playing the stock market” to “investing in the stock market.”

“We need to change the perception of retail investors so that they entrust their assets to professional fund management companies based on shared benefits and shared risks,” he said.

Under the MoF’s plan to restructure the investor base and develop Vietnam’s investment fund industry, the number of investors holding fund certificates is targeted to reach 2.5 million within the next five years before doubling to five million by 2035.

The strategy also aims to increase the number of securities investment funds to 500 by 2030, followed by annual growth of 25 per cent thereafter. Total net asset value of investment funds is expected to reach 5 per cent of GDP before expanding into double-digit territory over the following decade.

To achieve these goals, the ministry plans to diversify fund products, expand distribution channels, and develop new market benchmarks, including bond, derivatives, and sector indices. Tax incentives for long-term fund investors are also identified as one of the key measures to encourage greater participation in professionally managed investment vehicles.

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Delegates attend the online conference at the Ministry of Finance’s conference venue. Photo: Duc Minh

Nguyen Van Than, chairman of Vietnam Association of Small and Medium-sized Enterprises, said that achieving the 11.7 per cent growth target for the second half of the year, to offset the first-half performance, would require stronger support measures for the business sector.

“It is important to make a comprehensive revision of the Law on Support for Small and Medium-sized Enterprises, including renaming it the Law on Development of Small and Medium-sized Enterprises. After nearly a decade of implementation, Vietnam’s business community had grown significantly, while many provisions of the current law had yet to be updated to reflect practical realities,” he said.

He also recommended introducing a minimum level for small- and medium-sized enterprise (SME) participation in public investment projects.

To implement Resolution No.10-NQ/TW on developing the foreign-invested economic sector, Than proposed that the government submit a pilot resolution on a regulatory sandbox – a controlled legal testing framework – to encourage cooperation between strategic foreign investors and Vietnamese enterprises in priority industries, including electronics, semiconductors, automobiles and components, and high-tech supporting industries.

“The objective of the sandbox is not to create another broad-based support programme, but to develop model partnerships between foreign-invested enterprises and Vietnamese businesses, particularly SMEs, with clearly defined performance indicators for evaluation, refinement and wider replication. FDI majors such as Intel, Coca-Cola, Samsung and LG all operate global supply networks. Once Vietnamese businesses meet the standards required by these corporations, opportunities will extend beyond becoming Vietnamese-based suppliers to participating in global value chains,” Than said.

He also proposed allowing the Vietnam Association of Small and Medium-sized Enterprises to establish a specialised digital bank serving SMEs and household businesses.

Ho Sy Hung, chairman of the Vietnam Chamber of Commerce and Industry (VCCI), reaffirmed the organisation’s commitment to working alongside the government to improve the business environment, accelerating investment projects supporting production, and deepening integration into global value chains.

“At the same time, to contribute to the country’s development in the coming period, VCCI will continue to serve as a bridge between the government and the business community, thereby helping resolve practical issues quickly as they arise,” he said.

The VCCI chairman said confidence and optimism within the business community had increased markedly and were well-founded, as demonstrated by concrete figures rather than sentiment alone.

“If all costs associated with documentation, paperwork, administrative reforms and improvements to the business environment are quantified, the estimated savings exceed $900 million. For businesses, every day of reduced administrative procedures means one less day of production costs and greater opportunities to compete more effectively,” Hung said.

Deputy Prime Minister Nguyen Van Thang stressed that although growth remained strong, with GDP estimated to have expanded by 8.39 per cent in the second quarter of 2026, bringing first-half GDP growth to 8.18 per cent on-year, many targets had yet to be achieved. In particular, numerous localities remained well below their GDP growth targets and disbursement goals.

“Some localities have achieved noteworthy results, while many others have fallen short of expectations. This indicates that implementation capacity in certain localities remains limited,” said the DPM.

According to DPM Thang, actual growth was still around 1.5 percentage points below the first-half target.

“With greater efforts, it is entirely possible to narrow that gap. For example, if the public investment disbursement rate across the system exceeds 50 per cent, economic growth could receive an additional contribution of around 0.4 percentage points. That would reduce the gap with the target to approximately 1 percentage point,” he said

He added that sustaining high economic growth required sufficient capital at reasonable costs. Monetary and fiscal policies therefore needed to be coordinated more effectively to ensure adequate resources for production, business activities and the state’s priority sectors.

“In addition, ministries and sectors must respond more quickly and decisively in policymaking to remove obstacles facing businesses, citizens and local authorities,” he said.

Sweeping changes spotlight new financial growth drivers Vietnam is entering a pivotal phase where sweeping reforms, surging urbanisation, and new asset classes are reshaping its financial markets.

Vietnam eyes new growth drivers as fiscal policy takes centre stage Vietnam retains strong growth potential but must pivot to innovation-led drivers, with fiscal policy and capital markets set to play a larger role as monetary policy space narrows.

Unlocking growth drivers for the southern economic region Improving transportation infrastructure and institutional frameworks could help the southern economic region form three strong development pillars, expand growth space, and generate spillover effects for neighbouring areas.

At the seminar “Regenerative agriculture – a Sustainable Path for Vietnamese Farming” on July 3, Wouter Melis Van Ravenhorst, managing director of Control Union Vietnam, said, “Despite being one of the countries with strengths in agriculture, Vietnam is facing increasingly stringent 'green barriers' in major export markets.”

According to Ravenhorst, regenerative agriculture is not a passing trend but an essential requirement of global agricultural supply chains. The model restores ecosystems, reduces emissions and enhances the value of agricultural produce.

Nguyen Van Thiet, country manager of the Rainforest Alliance Office in Vietnam, said. "It is the right time for Vietnam’s coffee industry to transform itself to meet the increasingly high demands of the markets. A regenerative farm not only creates green products, but restores and protects biodiversity. This helps build a more balanced relationship between people and nature.”

"Soil should not merely be regarded as a production resource but as a partner. Farmers should make investments to keep the soil healthy and fertile to ensure sustainable harvests for the future," Thiet said.

At the seminar, Pham Phu Ngoc, chief representative of the Nestlé Vietnam office in the Central Highlands and director of the Agricultural Development Programme, shared the NESCAFÉ Plan initiative in Vietnam. Nestlé is a pioneer in supporting farmers covert to a sustainable coffee cultivation model.

Since 2011, the NESCAFÉ Plan programme has advanced the transition from traditional cultivation to regenerative farming practices. The programme has delivered benefits for the environment and biodiversity as well as for household incomes and broader social development.

Ngoc said, “The greatest challenge doesn’t lie in technology but helps farmers to access new concepts in an easy and actionable way.”

To make the concepts accessible, regenerative agriculture principles are classified into three groups, including soil, water, and biodiversity.

For soil, farmers are guided to maintain ground cover, convert agricultural by-products into organic fertiliser and adopt balanced nutrient management. As a result, this initiative has helped reduce the use of chemical fertilisers by 20-40 per cent while improving soil quality and lowering production costs.

For water, the techniques also save up to 40-60 per cent of irrigation water based on crop demand, helping conserve water resources while reducing electricity and fuel costs for pumping.

For biodiversity, farmers also adopt an intercropping model of coffee along with pepper and other fruit trees to create shade, increase biodiversity, and diversify incomes.

“The value of regenerative agriculture is reflected not only in environmental indicators but also in its economic impact on farmers,” Ngoc said.

Programme data shows farmers have seen their incomes grow by between 30 and 150 per cent compared with conventional coffee monoculture, thanks to lower input costs and diversified revenue from intercropping.

Over the past 15 years, the plan has accompanied over 23,000 farming households, generating drastic changes in productivity, income and cultivation techniques.

Mai Thi Nhung, a farmer in Dak Lak, is cultivating a 2 ha garden of coffee intercropped with pepper and durian. With the adoption of regenerative agriculture and digital farm management tools, her family has generated over $46,000 per harvest.

Hoang Thi Thu Huong, senior project officer at GIZ, said, “The distinguishing feature of regenerative agriculture lies in its ability to restore natural resources.”

According to the Ministry of Agriculture and Environment's Low-Emissions Crop Production Plan, coffee has been identified as one of the crops with ample potential to minimise greenhouse gas emissions, alongside rice, sugarcane, cassava, and bananas.

Huong said, “The transition to regenerative agriculture will help the coffee industry comply with new regulations, such as the European Union Deforestation Regulation, but also pave the way for producers to participate in future carbon credit markets, creating additional income. This path will help Vietnam’s coffee industry to reinforce its position in the global agriculture landscape.”

Nestlé Vietnam pioneers sustainable development and promotes business connections As Vietnam pursues its green growth agenda and sustainable development goals, Nestlé Vietnam is affirming its role in responsible business practices and fostering stronger connections within the business community.

Nestlé Vietnam rolls out its 2026 Lunar New Year campaign Nestlé Vietnam has unveiled its Lunar New Year campaign for 2026, centring on everyday moments of family togetherness rather than grand seasonal gestures.

Nestlé accompanies Ho Chi Minh City's student sports event Nestlé's Milo brand has sponsored the opening ceremony of the Ho Chi Minh City Student Sports Competition for 2025-2026 to promote active lifestyles, health, and well-rounded physical development for Vietnamese students.

The complex houses Khanh Hoa Party Committee, the National Assembly Delegation, People’s Council, and People’s Committee.

This is the first provincial-level headquarters in Vietnam to display an international green building distinction, Excellence in Design for Greater Efficiencies (EDGE), an important milestone in a market where green construction has largely been driven by the private sector.

Located at 1 Tran Phu street, Nha Trang ward, the Khanh Hoa Provincial Political and Administrative Headquarters complex spans more than 2.3 hectares, with a total investment of over $21 million. Integrating international green standards into the project reflects the province’s proactive approach to sustainable development amid rapid urbanisation.

In recent years, Khanh Hoa, particularly Nha Trang, has seen accelerated infrastructure development aligned with its goal of meeting the standards of a municipality directly under the central government. Embedding sustainability at the technical planning stage has been identified as a key factor in building a modern, livable, and competitive urban centre.

Speaking at the ceremony, Tran Hoa Nam, Vice Chairman of Khanh Hoa People’s Committee, said that the project’s receipt of EDGE certification affirmed Khanh Hoa’s commitment to using resources efficiently, saving energy, reducing emissions, and advancing sustainable development.

“We expect the new headquarters to be a modern workplace for administrative agencies, but also a model green public building that reflects a service-oriented, professional administration that is friendly to individuals and businesses, from design and construction through to operation,” Nam said.

IFC, a member of the World Bank Group, provided technical advisory services to support the project’s implementation of EDGE standards, with support from the Australian government.

Kate Wallace, Australian consul-general in Ho Chi Minh City, said that Khanh Hoa Administrative Headquarters is a vivid demonstration that infrastructure development and green development are not mutually exclusive.

“A green building not only saves resources and reduces emissions, it also creates a better working environment, uses public funds more efficiently, and sends a clear message about the local government’s commitment to a sustainable future. Australia is proud to partner with IFC and Khanh Hoa province on this journey, and we hope this green complex marks the beginning of a broader trend in Vietnam’s public sector,” said Wallace.

Developed by IFC, EDGE is used in over 129 countries and territories and assesses building efficiency across three categories: energy, water, and materials. EDGE certification requires a minimum of 20 per cent savings in each category.

EDGE Advanced, achieved by the Khanh Hoa complex, requires 40 per cent or more on-site energy savings, with remaining energy are encouraged offset by on-site or off-site renewable energy.

Audit results verified by international certification body SGS show that 45 per cent energy savings, achieved through a high-performance curtain wall system to reduce solar heat gain; optimised roof and external wall insulation; high-efficiency air-conditioning systems; LED lighting; and a rooftop solar PV system.

Meanwhile, 43 per cent water savings, driven by low-flow fixtures and sensor-controlled taps, 34 per cent reduction in embodied carbon in materials, achieved by prioritising low-carbon materials such as autoclaved aerated concrete blocks and lower-embodied-carbon reinforced concrete structural solutions.

Together, these measures are estimated to reduce 488 tonnes of CO₂ emissions per year during operation, equivalent to the annual carbon sequestration of more than 22,000 mature trees.

Do Ngoc Diep, IFC Green Building and Climate Resilience Advisory Program lead for Vietnam, Cambodia, Laos, and Thailand, noted that Khanh Hoa is the first province to secure EDGE Advanced certification for a provincial headquarters, a timely step as Vietnam accelerates infrastructure development towards 2030.

“This provides concrete evidence that public assets can optimise design to achieve high eco-efficiency and reduce operating costs. The project can serve as a public-sector model for other provinces to replicate, gradually shaping new standards for green public investment nationwide,” Diep said.

This project demonstrates how green investment in the public sector can meet environmental objectives while delivering tangible economic benefits, helping optimise recurrent budget expenditures. Operational data from the building will provide a valuable reference for scaling green public investment across other localities nationwide.

IFC considers $86 million senior loan investment in SeABank

Green finance challenge shifts from capital to project quality Vietnam’s green finance challenge is no longer capital availability, but building projects that can meet increasingly rigorous environmental, social, and governance (ESG) and investment standards.

Delegates participating in the launch ceremony

At the opening ceremony held on July 3, Joseph Low, chairman of Keppel Land Watco I to V, the joint venture entities for Saigon Centre and chief representative, Vietnam, Keppel Ltd. said, as Saigon Centre’s Japan Festival marks its fifth year, it reflects our continued commitment to creating meaningful experiences that bring people and cultures together.

“Through thoughtfully curated events and immersive initiatives, we aim to enrich the retail experience while celebrating the strong cultural ties between Vietnam and Japan. More than a shopping destination, Saigon Centre is a vibrant community hub where visitors can discover, connect and create lasting memories,” Low said.

Inspired by some of Japan’s most iconic urban destinations, this year’s festival transforms Saigon Centre into a vibrant celebration of contemporary Japanese culture.

The Le Loi - Pasteur entrance of Saigon Centre captures the dynamic energy and visual rhythm of Tokyo's renowned Shibuya Crossing, while the atrium is reimagined as Osaka’s renowned Dotonbori entertainment quarter, bringing to life its vibrant street culture, culinary heritage, and signature neon-lit streetscapes.

Complementing the immersive decor, the 17-day festival features a wide range of Japanese-themed activities, workshops, and exclusive promotions.

Visitors can participate in Geisha photography sessions, Hikoki Origami workshops, Matcha and Wagashi workshops, fruit Cream Puff & Sushi workshops, Y2K cosplay experience, and more.

Adding to the excitement are a range of pop culture-inspired attractions, including real-time camera interactions at the atrium and the mall entrance, Infinity LED room experience as well as exclusive gifts such as Conan Movie 29 tote bags, Fujifilm disposable cameras, Uniqlo mini cross bags, Matcha beverages, and Matcha mousse cakes.

With the fifth Japan Festival, Saigon Centre reaffirms its commitment to elevating the retail experience by offering engaging, culturally rich events that create memorable moments for visitors.

A view of the launch ceremony of the Japan Festival

Keppel receives investment registration certificate for Saigon Centre Phase 3 The Real Estate Division of Keppel received the investment registration certificate for Phase 3 of Saigon Centre, the company’s flagship mixed-use development in Vietnam at the Vietnam-Singapore Connectivity Ministerial Meeting held in Hanoi on October 10.

Saigon Centre gains LEED platinum and gold certifications Saigon Centre, Keppel’s flagship mixed-use development in Vietnam, on February 4 achieved a significant milestone with its office and serviced apartment components awarded Leadership in Energy and Environmental Design platinum, and its retail mall component receiving LEED gold certification by the US Green Building Council.

The embassy said the arrangement was intended to ensure continuity of visa processing for affected applicants during the suspension.

The communication also requested that VFS Global provide 24-hour CCTV footage from June 15 as part of a routine verification of camera recording availability.

According to information shared following discussions between the embassy and VFS Global, the embassy expressed satisfaction with VFS Global’s operational standards after reviewing its CCTV footage and did not identify any concerns.

The suspension of BLS International is expected to remain in effect until further notice, the discussions indicated.

The embassy cited integrity-related concerns as well as recurring operational issues involving the suspended provider, including non-compliance with official instructions, delays in forwarding application documents, and inaccuracies in daily and monthly reports.

As part of its review, the embassy examined operational reporting submitted by both service providers. According to the information shared, VFS Global’s reports were found to be accurate, while the reports of the suspended provider contained multiple discrepancies.

VFS Global was chosen as a service provider, following a global tender by the Slovak MFA. The embassy also sought confirmation that VFS Global could accommodate additional application volumes at its visa application centres in Hanoi and Ho Chi Minh City. VFS confirmed that both centres have sufficient staffing and infrastructure to process approximately 30 to 50 visa applications per day.

The Embassy of the Slovak Republic has not publicly announced when the suspension of the alternate provider will be lifted.

Vietnamese citizens can apply for an e-visa to Mozambique Mozambique's new digitally enabled e‑visa system forms part of the government’s broader digital transformation agenda.

Eased visas expected to stimulate tourism The new visa exemption policy for tourists from 12 European countries is expected to contribute to the goal of welcoming 22 million international visitors by the end of 2025

Visa and Trip launch global virtual travel card programme Visa and Trip.com entered into a new global agreement designed to make booking and paying for travel more seamless for consumers and partners worldwide on March 17.

Dr. Muppy inside his laboratory, part of IvyBears’ upcoming character-led edutainment spin-off “The Dr. Muppy Show,” produced by Moontrail Animation Studios (credit: IvyBears / Moontrail Animation Studios)

The latest release, IvyBears Chapter 3: The Stolen Idol, reached 3 million views within three days, further strengthening the momentum behind the IvyBears universe and its growing international audience.

IvyBears is positioning itself as one of the most dynamic new independent kids and family IP launches of 2026.

A Different Kind of Franchise: The Reversed Flywheel

Unlike traditional entertainment franchises, IvyBears did not start with content and only later move into consumer products. The brand was built the other way around.

Before the animated series launched, IvyBears had already established a retail presence across 60+ countries, creating real-world consumer validation before expanding into entertainment. This foundation now supports the development of IvyBears as a global character-driven franchise across animation, music, consumer products, licensing and broadcast.

IvyBears Founder & CEO Kaan Haylaz said: "Animation has been my passion since childhood — the reason I studied film and one of the reasons IvyBears exists. But when I built this IP, I made a deliberate choice: establish the brand globally first, prove it with consumers in real markets, and only then bring it to life on screen. Most franchises do it the other way around. We call it the Reversed Flywheel."

The model gives IvyBears a distinctive starting point: a global consumer-products foundation combined with a fast-growing entertainment platform and an expanding original character universe.

Produced by Moontrail Animation Studios

The IvyBears animated universe is produced by Moontrail Animation Studios, the proprietary animation studio founded by Haylaz.

Moontrail was built to support a consistent monthly production cadence, enabling IvyBears to release new animated episodes at a speed rarely seen among independent kids and family IPs. The studio combines human-led storytelling, character development, music, sound design and animation workflows with AI-supported production tools.

Seven full episodes are planned to be available by Q4 2026, forming a complete first season for international broadcast, licensing and distribution discussions.

Chapter 3: The Stolen Idol

Chapter 3 takes the IvyBears team to India, introducing a new villain, a new global setting and an expanded adventure storyline. The episode combines action, comedy, music and character-driven storytelling, continuing the franchise's mission to build a globally recognizable kids and family universe.

Among engaged audience segments, IvyBears has recorded average watch times of up to 5:49 minutes, indicating that the franchise is building more than reach — it is developing meaningful viewer engagement across key markets.

Introducing 'The Dr. Muppy Show'

As part of the next phase of the IvyBears universe, the company is preparing to launch 'The Dr. Muppy Show,' a character-led edutainment format for preschool and early family audiences.

The format will combine science, comedy, music and playful learning, using one of the franchise's key characters to answer everyday questions such as "How do planes fly?" or "Why is the sky blue?" in a fun and repeatable format for children.

Haylaz continues: "With 'The Dr. Muppy Show,' we want to show that strong characters can carry educational ideas in a much more emotional and memorable way. Humor, music and storytelling help children connect with the content, remember the message and genuinely enjoy learning."

'The Dr. Muppy Show' adds a second format pillar to the IvyBears universe, extending the franchise beyond adventure storytelling into edutainment.

Building Toward Global Broadcast and Licensing

With new full episodes released monthly, additional short-form content in development and a complete first season planned for Q4 2026, IvyBears is actively building toward international broadcast distribution, co-production opportunities and consumer licensing partnerships.

The company is currently exploring opportunities with partners across Europe, the Middle East, Asia and Latin America.

https://www.youtube.com/@IvyBearsOfficial

https://www.moontrail.ai

During the conference, the city unveiled four new financing lists covering industrial, technological, infrastructure, and state-owned enterprise projects. In total, 549 projects are seeking approximately RMB419.4 billion in funding. Following multiple rounds of matchmaking, 60.66% of these projects have already secured matching investors. As of the end of the first quarter, the city's medium- and long-term manufacturing loans reached RMB298.5 billion, while sci-tech lending hit RMB870 billion—up 13.9% and 13.1% year-on-year, respectively.

Beyond project pipelines, the conference delivered tangible outcomes: 56 contracts valued at RMB154.9 billion were signed on-site. The funds are directed toward some of China's most dynamic industrial sectors, including connected electric vehicles and next-generation electronics manufacturing. Perhaps more telling is the diversity of financial backers—banks, securities firms, and asset managers all participated.

Zhang Zemin, an academician at the Chinese Academy of Sciences, said Chongqing is cultivating a collaborative ecosystem that unites universities, research institutes, hospitals, and corporations. He called on investors to focus on early-stage, innovative companies developing hard-tech healthcare technologies. Separately, Yin Qi, chairman of Afari Technology, observed that artificial intelligence and the automotive industry are now advancing in tandem. He urged deeper integration of R&D, manufacturing, capital, and talent to foster a self-sustaining industrial environment.

Executives from three major financial institutions—Xu Siwei, chairman of state-owned China Reform Holdings Corporation; Chen Liang, chairman of China International Capital Corporation (CICC); and Li Liang, founding partner of Hillhouse—said they would continue to increase investment to drive Chongqing's technological innovation and industrial transformation by strengthening collaboration between finance and industry.

The event, organized by the Chongqing municipal government in partnership with its finance, technology, industry, and economic planning agencies. Two off-site sessions, held in the regional hubs of Wanzhou and Yongchuan, will explore each region's role in Chongqing's future growth.

"XAUUSD247 provides eligible clients with access to gold CFDs beyond standard market hours, supported by transparent product mechanics and clearly defined trading controls," said Marc Despallieres, Chief Executive Officer at Vantage.

XAUUSD247 is available 24 hours a day, seven days a week, including Saturdays and Sundays, subject to scheduled platform maintenance and regional availability. The product uses a one-ounce contract size, compared with the 100-ounce contract size of Vantage's traditional XAUUSD product. No separate trading commission applies, although spreads, financing charges and other applicable costs may apply. Tiered leverage of up to 100x may be available, subject to position size, account type and applicable trading conditions. One-sided margin calculation for eligible accounts holding both long and short positions.

XAUUSD247 also incorporates net and gross exposure limits at account level as part of its risk-management framework. When the applicable exposure threshold is reached, accounts enter close-only mode until exposure returns below the relevant limit. Applicable spreads, financing charges, leverage, exposure limits and other trading conditions may vary depending on the client's account type, region and applicable Vantage entity.

The page will be officially launched on 6 July.

From Decision-Making Hub to Transaction Hub: New Strategies for Hong Kong Hotels to Attract China Mainland Tourists

Xiaohongshu boasts over 400 million active users every month, including more than 130 million monthly active outbound travel users. Over 90% of users actively search for travel-related content, with YOY growth of 38% in travel-related search volume. The platform has become the top destination for outbound travel decision-making, supporting users' full journey of "browsing guides → searching content → finalizing travel plans". As an increasing number of cultural and tourism consumption decisions are made on Xiaohongshu, the platform's unique value for the hotel industry has become increasingly prominent.

(Data source: Xiaohongshu Lingxi Platform data from January 2025 to December 2025; all data has been desensitized)

Currently, Hong Kong's hotel industry faces three structural challenges: high OTA commission costs, steep labor and customer service costs, and difficulties in building long-term branding recognition. Meanwhile, the customer base in hotel sector is increasingly dominated by international and China Mainland independent travelers, who heavily rely on content-driven seeding to make travel decisions, which perfectly aligns with Xiaohongshu's core user's logic, laying a solid foundation for the platform to deeply fuel sustained growth for Hong Kong's hotel industry.

Addressing these challenges and opportunities, Dodo KWONG, Regional Head of Xiaohongshu Commercial Cross-border Asia & Middle East, stated at the seminar: "Demand for Hong Kong-bound travel is booming, with shopping, city walks, short getaways and other travel topics surging in popularity. However, cross-border merchants face longer conversion funnels and greater hurdles when trying to understand Xiaohongshu's users and drive bookings, requiring consistent content refinement and ad testing. Xiaohongshu will always grow alongside brands across all industries. Moving forward, we will continue to launch market and industry-exclusive campaigns to empower cross-border merchants to deepen their presence in the outbound travel sector, boost conversion efficiency and scale up revenue."

Precision Segmentation and Targeted Approach: The Two-Way Engagement of Content Seeding

According to HKTB's FY24 report related to visitor source, independent travelers account for 74.5% of all guests at Hong Kong hotels. Mainland overnight leisure travelers make up 60% of this group, while North Asian visitors represent 78% of high-value content-driven customer segments.

(Data sources: HKTB FY24 Report, HKTB Visitors' Purpose of Visit by Major Market Areas Jan-Mar 2026)

Combining HKTB visitor data with Xiaohongshu's travel user profiles, the platform divides Hong Kong hotels' core target audiences into three key groups: 1. young mainland travelers from tier-one cities with medium-to-high spending power, willing to pay for unique travel experiences; 2. business travelers prioritizing prime locations and administrative amenities; 3. families and concert-goer groups with women aged 30–45 as primary decision-makers.

(Data source: Xiaohongshu Lingxi Platform data from January 2025 to December 2025 (desensitized); Xiaohongshu Data Center, June 2026)

Xiaohongshu has developed a three-step decision funnel to precisely capture each audience segment: 1. Browsing: Grab attention with visually striking cover images and short videos to spark travel interest; 2. Searching: Capture active user inquiries with guide-style and review-style notes; 3. Deciding: Secure final bookings through authentic user recommendations and pinned posts on official brand accounts. Precise alignment between audience segments and content touchpoints creates a complete closed loop from initial interest to confirmed bookings, significantly lifting conversion rates from brand exposure to actual reservations.

Yingu, Platform Expert of Xiaohongshu Commercial Cross-border, commented: "Rising travel demand has extended users' decision-making cycles, with travelers adopting more comprehensive evaluation criteria when selecting hotels. To adapt to this shift, merchants must build content strategies around four core user pillars: travel milestones, target audiences, travel scenarios and unique experiences. Premium content acts as a bridge, while targeted advertising amplifies reach—together, they open up the full conversion funnel of 'seeding → consultation → lead generation' to drive sustained revenue growth."

From Brand Hub to Word-of-Mouth: Building Xiaohongshu Business Ecosystem for Hong Kong Hotels

Based in-depth market research on Hong Kong's hotel industry, Xiaohongshu shared a complete end-to-end operational framework at the seminar, covering official brand account setup all the way to private message conversion support. This operational model has delivered verifiable results for multiple Hong Kong hotel brands, offering replicable practical strategies for more hospitality operators.

Caspar TSUI, Executive Director of The Federation of Hong Kong Hotel Owners, remarked in his speech: "Through this seminar, we aim to help member hotels fully grasp the latest travel trends among Xiaohongshu users and learn how to leverage the platform to boost marketing performance and attract ideal visitors. As Hong Kong-bound tourism continues to heat up, the Xiaohongshu content-driven growth model will unlock new business streams for more Hong Kong hotel brands and facilitate deeper, long-term brand collaboration between both sides."

The company posted group consolidated revenue of SG$20 million and operating profit of SG$4 million last year — an operating margin of roughly 20%, far above the low single digits typical of restaurant franchising. Revenue has doubled in each of the past two years, while operating profit has surged more than twentyfold.

Remarkably, that growth was achieved with zero external capital. Reddog Indonesia has never raised a single round of investment, funding its expansion to more than 130 stores entirely from its own cash flow while staying consistently profitable.

"The past two years were about explosive growth while building a rock-solid foundation — quadrupling revenue and lifting operating profit more than twentyfold," said Kim Hong-yeol, CEO of Reddog. "This year we widen the stage to ASEAN."

In April, Reddog established a global entity in Singapore, and in August it opens its first store in a CapitaLand shopping mall — a beachhead for expansion across an ASEAN market of more than 600 million people. Capital markets are already moving: the company is reviewing an IPO in the first half of 2027, with several major Indonesian securities firms said to have made contact.

Reddog is led by founder and CEO Kim Hong-yeol, an F&B operations-systems specialist, and COO Cho I-jun, a turnaround expert focused on profitability and growth.

The transition from infrastructure delivery to ongoing LNG supply and facility operations demonstrates GasHub's capability to provide end-to-end LNG solutions, from engineering and construction through long-term operations.

The Rolls-Royce Seletar Campus is a key hub for advanced aerospace manufacturing, innovation, and talent development. In June 2025, GasHub secured a contract to develop the LNG storage and regasification facility for Rolls-Royce's Seletar Campus as part of the site's transition from compressed natural gas to LNG. The project comprised four 10-cubic-metre LNG microbulk storage tanks and a regasification facility designed to meet the campus's operational requirements.

The integrated LNG solution aims to significantly reduce annual fuel deliveries while lowering transportation-related carbon emissions, reducing operating costs, and improving fuel supply reliability.

Singapore's growing focus on energy resilience and its ambition to become a regional energy hub further underscore the importance of reliable lower-carbon energy infrastructure. The Economic Strategy Review Final Report[1], published in June 2026, identified LNG and other lower-carbon energy solutions as key growth priorities for strengthening Singapore's energy resilience and supporting future economic growth. GasHub's integrated LNG offering supports these national objectives by delivering reliable energy infrastructure for advanced manufacturing.

Bentinck Ng, Chief Executive Officer of GasHub, said, "Completing the project and moving into ongoing LNG operations demonstrates our ability to support customers throughout the full energy transition journey—from infrastructure development to long-term operations. Our vision is to expand our presence and become a more significant player in the LNG sector. As industries increasingly seek practical and commercially viable pathways towards decarbonisation, we aim to expand our reach among multinational corporations in Singapore and overseas, leveraging our expertise in LNG infrastructure, supply and operations to support their energy transition objectives."

The Rolls-Royce engagement further strengthens GasHub's growing track record in industrial LNG solutions. GasHub now serves 13 active LNG customers, building a recurring revenue base through long-term LNG supply and operations contracts. Prior to this project, the company delivered LNG solutions for customers including Malaysia Dairy Industries, Thong Siek Food Industry and Murata Manufacturing, supporting their operational energy requirements.

For more information, please visit www.h2g.green.

[1] https://file.go.gov.sg/esr-finalreport.pdf

The development of radiopharmaceuticals and radiodiagnostic products places extremely high demands on the precision, stability, and druggability of targeting molecules. This strategic collaboration is based on both parties' deep insight into the nuclear medicine industry trends and strong mutual recognition of each other's technological capabilities.

Sanyou Bio will leverage its globally leading AI-Super trillion antibody/molecule libraries (AI-STAL) and its Sanyou AI-Drug Accelerator (SAI-DA) to provide source innovation power for the discovery and optimization of high-performance antibodies and targeting molecules against specific targets. Baiyunshan Xihe will rely on its end-to-end capabilities in novel medical radionuclide production, GMP manufacturing, and clinical translation to advance partnered molecules into radiolabeling, in vitro and in vivo evaluation, and preclinical studies, thereby accelerating the industrialization of innovative radiopharmaceuticals and radiodiagnostic products.

This strategic partnership aims to generate core value through deep integration across multiple dimensions:

1. Building an End-to-End Innovation Closed Loop:

Establish an integrated collaborative R&D model of "AI-driven molecular discovery – radionuclide labeling – clinical translation," seamlessly connecting upstream molecular discovery capabilities with the radiopharmaceutical industrialization platform, significantly shortening the development timeline from target concept to radiopharmaceutical candidate compounds.

2. Developing a Differentiated Product Portfolio:

By combining Sanyou Bio's extensive experience in innovative drug development and its strengths in AI-driven molecular discovery with Baiyunshan Xihe's standardized production technologies for key medical radionuclides such as Gallium-68, Zirconium-89, Copper-64, and Rhenium-186, the two parties will jointly develop internationally competitive theranostic radiopharmaceuticals and novel radiodiagnostic products.

3. Building a New Industrial Ecosystem for Collaboration:

Both parties will integrate their deep resources in innovative drug R&D services and the nuclear medicine industry chain, jointly explore open and mutually beneficial collaboration models, enhance China's upstream innovation capabilities in radiopharmaceuticals, and promote high-quality industry development.

Liu Hong, Chairman and General Manager of Baiyunshan Xihe, stated:

"We are very pleased to enter into this strategic collaboration with Sanyou Bio. As a leading enterprise in Guangzhou's nuclear medicine industry chain, Baiyunshan Xihe has established a fully integrated value chain from radionuclide production to clinical services, and has developed a dual-track product portfolio featuring both self-developed nanobody-based RDCs and mature microsphere products. Sanyou Bio's AI-STAL platform for upstream drug discovery is globally leading, with a library capacity exceeding 11 trillion and outstanding screening capabilities. This collaboration will strongly complement our capabilities in targeting molecule discovery and accelerate the layout and advancement of our theranostic radiopharmaceutical pipeline. We look forward to this deep integration of 'discovery + translation' to jointly develop truly clinically valuable innovative radiopharmaceutical products."

Dr. Lang Guojun, Founder and CEO of Sanyou Bio, stated:

"This collaboration with Baiyunshan Xihe represents an important extension of Sanyou Bio's mission—'To make it easy to develop new drugs worldwide'—into the cutting-edge field of nuclear medicine. Backed by the strong industrial resources of Guangzhou Pharmaceutical Holdings, Baiyunshan Xihe has built solid capabilities in radionuclide production and full value-chain integration. This strategic synergy is a key step in deeply connecting our AI-driven molecular discovery capabilities with a leading radiopharmaceutical industrialization platform. We believe that, through the dual engines of 'intelligent molecular design' and 'precise radionuclide labeling,' we can provide truly fundamental solutions to upstream innovation challenges in nuclear medicine, jointly empowering the technological upgrade of the global nuclear medicine industry."

This strategic collaboration marks a solid step forward for Sanyou Bio in deepening industrial synergy and expanding into cutting-edge application areas. Starting from this partnership, both parties will continue to explore broader collaboration opportunities and strive to become a benchmark force driving upstream innovation in radiopharmaceutical development in China.

In terms of store development, DPC Dash continued the "Go Deeper, Go Broader" store expansion strategy, deepening penetration in existing cities while broadening its footprint into new markets. As of June 30, 2026, the total store count reached 1,550 stores across 75 cities, comprising 532 stores in Tier 1 cities and 1,018 stores in non-Tier 1 cities, with non-Tier 1 cities continuing to serve as the Company's primary growth engine while Tier 1 cities remain a resilient, high-quality revenue base. From January 1 to June 30, 2026, the Company added 235 net new stores and entered 15 new cities. The Company's net new stores, stores under construction, and stores signed represented approximately 89% of the full-year 2026 store opening target, up from 65% as of March 31, 2026. During the quarter, DPC Dash also entered a strategic partnership with SCPG Group, one of China's leading shopping mall operators with over 220 projects across 55 cities to deepen penetration in existing cities and accelerate expansion into new markets.

Based on store count, mainland China has become the second-largest international market within Domino's global system. Among Domino's network of more than 22,300 stores worldwide, Domino's Pizza China now holds all of the top 70 positions in the first 30-day sales ranking, further demonstrating China's market potential and the strength of DPC Dash's store execution model.

Although the Group's same-store sales growth (SSSG) remained negative during the second quarter of 2026, May and June delivered slightly positive SSSG after a series of sales initiatives. On product innovation, the Company broadened its menu with new global flavors, including a new Crispy Croissant Crust, American Inspired Pulled BBQ Pork Pizza, and football-themed Mexican Inspired Salsa Roast Chicken And Beef Rectangular Pizza, alongside the "Energy Bowl" series and new beverages.

The continued expansion of the Company's loyalty program supported its digital strategy and customer engagement. As of June 30, 2026, loyalty program membership reached 41.9 million, compared to 30.1 million a year earlier. On the marketing front, the Company partnered with Arknights (明日方舟) and ZANMANG LOOPY on IP crossover campaigns, launching co-branded set meals and merchandise alongside themed stores, pre-sales and digital promotions to enrich consumer engagement. Leveraging football-viewing occasions, the Company also launched the "Victory Is Ours" set menu featuring a stadium-shaped pizza alongside snacks, desserts, and beverages to cater to group viewing and dining demand, while continuing to roll out value-focused promotions such as buy-one-get-one pizza offers.

DPC Dash further strengthened its marketing leadership with the appointment of Joanne Xie as Chief Marketing Officer in May 2026. Xie oversees brand building, digital and data-driven omni-channel marketing, and category innovation. She brings over 20 years of marketing management experience, having previously served as Vice President of Marketing at McDonald's China and held marketing roles at Coca-Cola and Mondelēz.

The Company will continue to execute its 4D strategy, expand its store network, strengthen product and marketing capabilities, and create sustainable, long-term value for shareholders.

For the full figures, please refer to DPC Dash's Second Quarter 2026 Investor Fact Sheet ("Investor Fact Sheet") here.

For more information, please visit: www.dpcdash.com

For official company announcements, please visit: www.hkexnews.hk

This CMS licence will allow PingPong to offer eligible Singapore-based clients over-the-counter FX derivatives products through its subsidiary, Mana Markets (SG) Pte. Ltd ("the Company"). Eligible Singapore-based clients will be able to hedge against foreign exchange volatility. This will complement the existing suite of payment services provided by PingPong through its licensed Major Payment Institution, Mana Payment (Singapore) Pte. Ltd. in Singapore.

Shu Jianqin, CEO of PingPong Asia Pacific and Group Partner, said: "This in-principle approval marks an exciting new chapter for PingPong across Singapore and Southeast Asia. Singapore's world-class regulatory framework, robust institutional ecosystem, and role as a global financial hub make it both a strategic home for our expansion and a powerful base for the clients we serve."

For more information, visit www.pingpongx.com

"Eloralintide in combination with tirzepatide recently demonstrated 29.0% weight loss at week 32[1]. However, two separate weekly injections are required; one for eloralintide and one for tirzepatide. In contrast, ASC36_35 FDC, a potentially first-in-class subcutaneous (SQ) injection co-formulation targeting amylin receptor, GLP-1R and GIPR, requires only one monthly injection," said Jinzi Jason Wu, Ph.D., Founder, Chairman and CEO of Ascletis, "Equally exciting, ASC36_35 FDC demonstrated approximately 51% greater relative body weight reduction compared to the co-administration of eloralintide and tirzepatide in a head-to-head diet-induced obese (DIO) rat study. These animal models are highly predictive of human efficacy."

Both ASC36 and ASC35 were discovered in-house utilizing Ascletis' Artificial Intelligence-Assisted Structure-Based Drug Discovery (AISBDD). Both ASC36 once-monthly to once-quarterly formulation and ASC36_35 FDC once-monthly co-formulation are Self-Assembling Lipid Depot (SALD) formulations, developed in-house utilizing Ascletis' Ultra-Long-Acting Platform (ULAP) technology.

In head-to-head non-human primate (NHP) studies, ASC36 SALD formulation demonstrated approximately 6-fold longer observed half-life than eloralintide, supporting once-monthly to once-quarterly SQ administration in humans. In NHP studies, ASC36_35 FDC SALD co-formulation demonstrated long observed half-lives for both ASC36 and ASC35, supporting once-monthly SQ administration in humans.

Preclinical studies have established the superior efficacy of ASC36 injection and ASC36_35 FDC injection co-formulation. In head-to-head DIO rat studies, which are highly predictive of human efficacy, ASC36 monotherapy, targeting amylin receptor, demonstrated approximately 91% and 32% greater relative body weight reduction compared to petrelintide and eloralintide monotherapies, respectively. In head-to-head DIO rat studies, the ASC36_35 co-formulation, targeting three targets of amylin receptor, GLP-1R and GIPR, demonstrated approximately 51% greater relative body weight reduction compared to the co-administration of eloralintide and tirzepatide.

Both ASC36 injection formulation and ASC36_35 FDC injection co-formulation exhibit excellent chemical and physical stability with no aggregation or precipitation caused by fibrillation at neutral pH.

Two IND submissions for ASC36 once-monthly injection and ASC36_35 once-monthly injection co-formulation build upon the recent milestone achieved by ASC35 once-monthly SALD formulation. In June 2026, Ascletis announced U.S. FDA IND clearance to initiate a Phase I clinical trial for ASC35 as a once-monthly SQ treatment for obesity (Press Release), highlighting the Company's robust clinical execution and the potential of its ULAP technology.

[1] Eli Lilly and Company. Safety, tolerability, pharmacokinetics and pharmacodynamics of eloralintide and tirzepatide co-administered as once-weekly subcutaneous injections [Abstract accepted for presentation at EASD 2026]

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

The move is intended to preemptively build domestic AI computing infrastructure at a time when demand for AI model training and inference is surging and high-performance computing infrastructure determines national competitiveness.

SKT is pursuing the project by linking it with the government's "AI G3" strategy — the goal of becoming one of the world's three leading AI powers alongside the U.S. and China — and the task of balanced regional development, comprehensively reviewing core infrastructure elements such as power, siting, and operations for the AI data center.

• Ulsan AI Data Center to Expand to GW Scale; 5GW to Be Activated in Stages from 2029, Reaching 15GW in Total

Due to the buildout of high-performance AI computing infrastructure and rising memory prices, constructing a typical 1GW-class AI data center may require a substantial project cost reaching approximately KRW 70 trillion. Such costs are expected to be financed not only through the company's own investment but also through strategic partner investment, long-term customer contracts, and project financing.

The backdrop to SKT's move into building an AI data center at this scale is a global supply shortage. Global consulting firm McKinsey & Company forecasts that global data center demand will grow 19–22% annually while supply fails to keep pace, resulting in an estimated shortfall of about 15GW in the U.S. alone by 2030.^[1]

Accordingly, global big tech companies are expanding data center investment beyond the U.S. to locations around the world. In this context, Korea is drawing attention as an investment destination for global big tech companies' AI data centers.

Korea holds strong competitiveness in core AI components such as high-bandwidth memory (HBM). It also has stable power supply conditions based on nuclear power and liquefied natural gas (LNG), along with GW-class infrastructure operating capabilities accumulated through operating semiconductor fabs, making it an attractive location for AI data centers.

Based on this solid demand and locational advantages, SKT plans to build AI data center capacity totaling 15GW.

First, starting with the AI data center currently under construction in Ulsan, SKT will build a cluster of over 2GW across the southeastern region (Gyeongsang), using it as a base to attract AI infrastructure demand from global big tech companies to Korea. It also plans to build an additional 1GW in the southwestern region (Jeolla), bringing its domestic AI data center capacity to a total of 5GW to be opened in stages starting in 2029.

To this end, SKT will pursue AI data center construction by considering various factors together — including site selection, power supply, and securing key anchor tenants — in connection with the government's balanced regional development tasks and strategic supply plans.

• SK Group brings together full-stack AI infrastructure capabilities; SKT to spearhead the overall project as AI Infrastructure Architect

AI data center infrastructure hinges on three core elements: semiconductors, energy solutions, and data center construction and operation capabilities. SK Group already holds these core capabilities across its affiliates. This project will bring together the Group's full-stack AI infrastructure capabilities, with each affiliate contributing its own strengths.

In particular, SKT will take on the central role of leading the design, construction, and operation of the AI data centers. SKT has already been actively pursuing the AI data center business and has continued its cooperation with global big tech companies^[2].

At SK AI Summit 2025 last November, SKT President and CEO Jung Jai-hun unveiled the company's AI infrastructure roadmap, stating that SKT would lead the evolution of AI infrastructure as the nation's leading AI operator. He also presented a longer-term blueprint for expanding cooperation with global big tech companies and scaling up the Ulsan AI Data Center to a total of over 1GW.

More recently, SKT announced plans to operate an "AI Factory," described as a next-generation AI data center. SKT plans to begin AI Factory operations in 2027 and expand it to GW scale going forward.

• Korea's Third National Infrastructure Revolution Following the Gyeongbu Expressway and High-Speed Internet

The AI industry expects that AI data centers will serve not only as a new growth engine for Korea, but also as a national strategic asset. In particular, it is expected that linking AI data centers with regional industries will contribute to balanced regional development.

The construction of a 15GW-scale AI data center is expected to serve as a springboard for Korea to become an AI infrastructure hub. SKT views AI data centers as Korea's third innovative infrastructure, following the Gyeongbu Expressway (1968) and high-speed internet (1998), and intends to take a leading role in advancing it.

"This AI data center project is aimed at preemptively preparing the computing infrastructure that the global AI ecosystem needs," said Jung Jai-hun, President and CEO of SKT. "We will work closely with the government, industry, and local communities to help Korea grow into Asia's core AI infrastructure hub."

For more information, please visit our newsroom at https://news.sktelecom.com/en/ or our LinkedIn page at www.linkedin.com/company/sk-telecom.

• Family Office Establishment and Structuring
• Wills and Succession Planning
• Trusts and Asset Protection
• Complex Estate Planning
• Cross-Border Tax and Structuring Advice, including the US and France elements
• International Family Office Coordination
• Ongoing Accounting and Reporting
• Outsourced CFO and COO Support
• Strategic Business Advisory Services Tailored to Family Offices and Private Investment Structures
• Litigation Support
• Immigration Law

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