LS Eco Energy said in a regulatory filing on October 26 that it would invest $49 million in a new medium-sized ultra-capacitor cell production facility at its Vietnamese subsidiary, LS Cable & System Vietnam (LSCV). The move is to support LS Materials' growing UC orders. UC is an energy storage device that quickly stores and supplies electricity to make up for momentary power shortages in Hydrogen Fuel Cell power generation systems.

The Vietnam subsidiary plans to begin mass production and supply in April 2027. Its target’s annual sales would reach $113 million by 2030.

LS Eco Energy Ltd. operates in the energy and advanced materials sector through subsidiaries such as LS Cable & System Vietnam Co., Ltd., which manufactures UC components.

The group focuses on supplying UC medium cells, a key technology for high-performance energy storage solutions, to meet growing demand in industrial and mobility applications.

Previously, on October 13, LS Materials signed a supply contract worth approximately $51.5 million with a US hydrogen fuel cell company. The company is also in talks for additional contracts before the end of the year. LS Eco Energy plans to manufacture UCs on an original equipment manufacturer basis using LS Materials’ proprietary technology, allowing the two affiliates to jointly meet growing global demand.

LSCV was selected as the production base because it can use idle space at its existing factory, helping reduce initial investment costs. Besides that, the company wants to take advantage of low labour and utility costs in Vietnam to give the facility a cost-competitiveness advantage.

Under Vietnam's National Strategy on AI through 2030, with a vision to 2045, the nation strives to rank among the top three countries in Southeast Asia in AI research and development by 2030 and among the top 10 countries in Asia in AI research, development and mastery, as well as in nationwide AI transformation by 2045.

By 2045, Vietnam targets to establish an AI and AI-native enterprise ecosystem with regional and international competitiveness and become an important regional and global centre for AI research, development, production, and the provision of AI products, services and solutions.

LS Eco Energy currently manufactures cables in Vietnam through LSCV in Ho Chi Minh City and LS-VINA in Haiphong.

The company recorded preliminary consolidated revenue of KRW351.5 billion ($264.78 million), operating profit of $16.7 million, and net profit of $10.54 million for the third quarter, according to LS Eco Energy, which achieved record Q3 earnings, surpassing the 2025 total, which was published on October 20.

Revenue and operating profit increased by 51 per cent and 50.2 per cent on-year, respectively, marking all-time third-quarter highs. Cumulative revenue and operating profit for the first three quarters reached $743.7 million and $50.8 million, respectively, surpassing the 2025 totals of $723.2 million and $50.3 million in just nine months.

LS Eco Energy plans to win more orders from global big tech companies and improve profitability by investing in large-capacity bus duct production facilities at LSCV in Ho Chi Minh City, with mass production slated for the second half of 2027.

The company is also building up its rare earth metal business as a new growth engine. Last month, it began constructing a defence-grade samarium metal production facility at LSCV and aims to start mass production this year.

"With our new AI data centres and rare earth businesses on top of expanding exports to Europe and North America, we expect this upward trajectory in revenue and operating profit to continue," said Lee Sang-ho, CEO of LS Eco Energy.

LS Eco Energy signs deal for superconducting cable project in Vietnam South Korea's LS Eco Energy has signed a business agreement with the Institute of Energy (IoE) to expand the use of superconducting cables.

LS Eco Energy to invest in Vietnam rare earth sector LS Eco Energy is making a strategic push into Vietnam’s rare earth metal sector, aiming to secure new growth engines and strengthen its long-term business portfolio.

Lynas secures Vietnam metal processing deal with LS Eco Energy Australian rare-earths miner Lynas has signed a framework agreement with LS Eco Energy to produce rare earth metals at a new facility in Vietnam.

LS Eco Energy secures Vietnam AI data centre cable contract South Korea’s LS Eco Energy will supply power cables for a large-scale AI data centre project in Vietnam being developed by military-run telecoms group Viettel Group, as competition to build AI infrastructure intensifies across Southeast Asia.

“The legal frameworks governing the IFC’s operations had now been completed. The VIFC-HCMC had also admitted its first 10 members, which operate in the form of holding companies,” Vu said

Truong Minh Huy Vu, Vice Chairman of Ho Chi Minh City People’s Committee, outlined the development direction for VIFC-HCMC. Photo: Le Toan

In the next phase, Vu said, the city will focus on two key areas: setting regulations for investment funds and fund management. “The procedures and regulations for admitting investment funds to Vietnam's IFC are expected to be issued in November,” Vu said.

Under the framework outlined by Vu, investment funds will be classified into three tiers, in line with models adopted by international financial centres such as Singapore, Dubai and Hong Kong. He said that the goal of the IFC was not merely to establish financial activities, but also to channel capital into the real economy.

“In the initial phase, the VIFC-HCMC will focus on mobilising and connecting financial resources to support development needs in the expanded Ho Chi Minh City and the southeastern region,” he said.

According to Vu, in the new development context, financial resources should be understood as more than just flows of money; they must also be linked to new operating methods, models and approaches. “Researching financial products and models attracting global interest is important for Vietnam as a whole, as well as for Ho Chi Minh City and the southeastern region in particular,” he added.

Following the expansion of its development area to include Binh Duong and Ba Ria-Vung Tau, Ho Chi Minh City has gained further advantages in industry, services, trade, the marine economy and logistics. Underground and airspace development also offer new opportunities for growth.

However, to fully realise this potential, the city needs appropriate mechanisms to mobilise resources, particularly financial models capable of connecting domestic and international capital flows with actual investment needs.

Marc Knapper, former US Ambassador to Vietnam, chairman of Knapper Global Advisors and a member of the advisory team for the VIFC-HCMC, said the city had a major opportunity to become one of Asia’s leading financial centres.

However, to realise this ambition, Vietnam needs to clearly define the role of its international financial centre within the country’s long-term economic development strategy.

“Autumn Economic Forum provides valuable opportunities to exchange views on Ho Chi Minh City’s development direction. I am so pleased at attending the event in the city, which is undergoing significant transformation and working towards its goal of becoming Vietnam’s international financial centre,” Knapper said.

He noted that technology and finance were evolving rapidly worldwide. Against this backdrop, the key question was not only how to develop fintech, but also how to build a financial system that was sound, secure and sustainable. Vietnam, he said, was well positioned to take part in this transformation.

Looking back at Vietnam’s development over the past four decades, Knapper said the country had made significant progress through international integration, manufacturing expansion and improvements in living standards. This process had lifted millions of people out of poverty, making Vietnam one of the standout development stories of its time.

“I am impressed by Ho Chi Minh City’s transformation every time he returned, from the energy of its younger generation and its spirit of innovation to the development of new infrastructure and the changing urban landscape. In his view, these changes demonstrated Vietnam’s considerable potential for further growth,” he said.

However, he added that the next phase of Vietnam’s development will bring different demands. Its goal of becoming a high-income country by 2045 will require the mobilisation of substantial financial resources to support economic development, the energy sector and the broader economic transition.

“Not every country managed to move beyond middle-income status and achieve a higher level of development. Against this backdrop, the VIFC-HCMC should be seen as more than a financial project. It should be regarded as part of Vietnam’s broader strategy to build the financial foundations for its future,” he added.

Experts speak about the VIFC-HCMC. Photo: Le Toan

Foundation focus stepped up for VIFC The Vietnam International Financial Centre is moving towards a new phase of development, with international standards, finance talent, green finance, and regulatory capacity emerging as key requirements for turning the country’s dual-city model into functioning markets.

VIFC entrants need to build flexible structures as framework takes shape Vietnam’s International Financial Centre (VIFC) has begun rolling out its member registration portal and standardised procedures, providing investors with a clearer basis for exploring opportunities at the centre. Talking to VIR’s Vy Vy, Hoang Thuy Duong, partner and tax head at KPMG Vietnam & Cambodia, said that uncertainty over participation mechanisms, permitted activities, and future benefits remains a key concern for businesses.

VIFC-HCMC membership offers access to Vietnam's capital market Membership of Vietnam's International Financial Centre in Ho Chi Minh City will open up significant opportunities for international financial institutions to access Vietnam's capital market, particularly in infrastructure and technology.

The MoU not only opens up new business opportunities, but also paves the way for Kim Long-branded commercial vehicles penetrate Costa Rica and the wider Central American market.

The move marks an important milestone in Kim Long Motor’s international expansion journey, underscoring the position and elevating the position of Vietnamese band value on the global vehicle market.

The signing ceremony was witnessed by Victor Hugo Rojas Gonzalez, Ambassador Extraordinary and Plenipotentiary to Singapore, concurrently accredited to Vietnam. Photo: Kim Long Motor

Vertex R.L specialises in trading and distributing transport vehicles in Costa Rica. Starting from passenger transportation and bus rental services, the company has developed its distribution network across Costa Rica and other Central American countries. The company boasts a diverse portfolio of commercial vehicles to passenger cars, and minibuses from reputable global brands.

Vertex R.L pays special attention to developing a network of electric vehicle charging stations across various provinces and cities. This lays an important foundation for the company to roll out all-electric vehicles, contributing to the green transition and sustainable transport development in Costa Rica, with the potential to expand these efforts across Central America.

Under the agreement, Kim Long Motor and Vertex R.L agreed to establish a comprehensive cooperation framework to unlock market potential. Vertex R.L will actively research the market, and explore suitable business development opportunities. Meanwhile, Kim Long Motor will provide the necessary technical specifications, product documents, and commercial pricing information to support the assessment process and development of cooperation strategies.

Dao Viet Anh, general director of Kim Long Motor and Victor Hugo Rojas Gonzalez, Ambassador Extraordinary and Plenipotentiary to Singapore, concurrently accredited to Vietnam. Photo: Kim Long Motor

With its extensive expertise in transportation services in Central America, Vertex R.L acts as a potential partner to support Kim Long Motor in understanding market characteristics, customer demand, and business opportunities in the region.

The synergy of Kim Long Motor’s manufacturing capabilities and Vertex R.L’s market experience is expected to provide a basis for the two sides to identify cooperation opportunities in line with market conditions. Based on the results of their research and discussions, the two parties will continue negotiations on appointing Vertex R.L as Kim Long Motor’s distributor in mutually agreed territories in the future.

Speaking at the ceremony, Dao Viet Anh, general director of Kim Long Motor, said, “The signing of the MoU with Vertex R.L is an important step in Kim Long Motor’s strategy to expand its export markets. With comprehensive manufacturing capabilities, we aim to bring Vietnamese-branded products to a broader international customer base."

"Leveraging Vertex R.L’s market knowledge and extensive experience in the transportation sector, the two sides will effectively capitalise on business opportunities, and gradually establish a distribution network for Kim Long-branded commercial vehicles in Costa Rica and across Central America.”

Avelino Salvador Fallas Monge, chairman of the Board of Directors of Vertex R.L, appreciates the partnership with Kim Long Motor, one of Vietnam’s leading automotive manufacturers and distributors.

"This collaboration is expected to provide customers in Costa Rica and the Central American region with high-quality transport solutions in line with sustainable development trends. Vertex R.L. will leverage its deep understanding of the local market to work alongside Kim Long Motor in assessing actual demand and effectively tapping into business potential. This serves as a solid foundation for practical commercial progress, paving the way for a long-term strategic relationship between the two organisations," said Monge.

Previously, Kim Long Motor has already made a significant mark through its commercial activities and exports to South Korea, Thailand, the Philippines, and other markets.

The signing of this MoU with Vertex R.L. opens up prospects for integrating the production capabilities, market expertise, and resources of both parties. It establishes a framework to gradually realise business opportunities in Costa Rica and neighbouring Central American nations, such as Panama, El Salvador, Guatemala, Honduras, and Nicaragua. Through this, Kim Long Motor continues to affirm its ambition to bring "Made in Vietnam" automotive products to the global stage.

Kim Long Motor to supply 100 electric buses to Phuong Trinh Buslines Kim Long Motor and Phuong Trinh Buslines have signed a contract for 100 electric buses, marking a step towards green public transportation in Vietnam.

Kim Long Motor ships first batch of electric buses to Thailand Kim Long Motor Hue has completed the handover of nine fully electric buses to Thailand's INNOPOWER, the first batch in a contract for 113 vehicles.

Vietnamese-made Kim Long buses debut in Thailand Kim Long Motor has launched its bus models in Bangkok, marking the Vietnamese brand's official entry into Thailand's commercial vehicle market.

Advances in radiotherapy technology and techniques have transformed the treatment of breast cancer in recent years.

According to Dr. Bui Le Phuoc Thu Thao, head of the Hy Vong Cancer Centre at FV Hospital, “The biggest change is that we can now deliver radiotherapy with greater precision, over shorter treatment courses, and with less impact on patients.”

Dr. Bui Le Phuoc Thu Thao, Specialist Level II advises breast cancer patients on their treatment options. Photo: FV Hospital

Radiotherapy courses that once lasted five to six weeks can now be completed in around three weeks, or even just one week in selected cases. For patients with left-sided breast cancer, Deep Inspiration Breath Hold can help move the heart away from the radiation field, reducing radiation exposure to the heart and lungs.

Before treatment, patients undergo a 3D CT simulation to map the treatment area. The treating physician works with medical physicists to plan the radiation dose and beam directions, ensuring adequate radiation delivery to the target while minimising exposure to surrounding healthy tissue.

"Each patient requires an individualised radiotherapy plan based on factors such as tumour size, surgical approach, other treatments, age, underlying medical conditions, and living circumstances," Dr. Thu Thao said.

Personalised treatment for different tumour types

Dr. Vo Thi Phuong Thao, a physician at the Hy Vong Cancer Centre at FV Hospital, said, "Significant advances are being made not only in radiotherapy but also in systemic treatment for breast cancer, with several new classes of drugs expanding the available options. Whereas treatment once relied primarily on chemotherapy, endocrine therapy, and anti-HER2 therapies, doctors now have additional options, including immunotherapy, CDK4/6 inhibitors, PARP inhibitors, and antibody-drug conjugates (ADCs)."

Biomarker testing and genetic testing for specific mutations can help doctors select more appropriate treatment strategies, particularly for patients with advanced or metastatic disease, or whose cancer has not responded to previous treatment.

For triple-negative breast cancer – a subtype that can be aggressive, has a higher risk of recurrence in certain cases, and has fewer established targeted treatment options – identifying biomarkers such as PD-L1 expression and mutations in the BRCA1/2 genes can help determine whether treatments such as immunotherapy, PARP inhibitors, or ADCs may be appropriate.

According to Dr. Phuong Thao, ADCs act as targeted drug-delivery systems: antibodies recognise specific proteins on cancer cells and deliver a cytotoxic drug to the target, helping direct treatment towards cancer cells while potentially limiting damage to healthy tissue.

“The important thing is not to use the newest medication, but to use the right medication for the right patient at the right time,” Dr. Phuong Thao said.

Strength of a multidisciplinary team

Doctors and medical teams discuss treatment plans for breast cancer patients. Photo: FV Hospital

Modern cancer care requires collaboration among multiple specialities to develop an appropriate treatment plan for each patient. Surgery removes the tumour when indicated, systemic therapy treats cancer cells throughout the body, and radiotherapy helps control the disease locally and reduce the risk of recurrence.

At FV Hospital, the multidisciplinary team reviews each case from different clinical perspectives. This collaborative approach helps identify potential issues that might otherwise be overlooked and supports the development of comprehensive, individualised treatment plans.

Treatment decisions at FV are guided by the latest scientific evidence while taking patients’ circumstances and preferences into account. Patients and their families receive clear explanations of treatment goals, potential benefits, and risks, enabling them to make informed decisions and feel supported throughout the treatment journey.

Early detection: key to better breast cancer outcomes

Dr. Thu Thao, Specialist Level II said, “What I most want women to know is that breast cancer detected early can be treated successfully. In the early stages, the five-year survival rate can exceed 90 per cent, and many women can preserve their breasts.”

Women are encouraged to make time for their breast health. Dr. Thu Thao said, “Perform breast self-examinations regularly, and attend checkups and screening appointments as recommended by your doctor. Mammography screening often begins around age 40, or earlier for women with a family history of breast cancer or other risk factors. If you notice a lump, nipple discharge, or unusual changes in the skin of your breast, see a doctor promptly. Don’t wait."

"If you are diagnosed with breast cancer, don’t lose hope or turn to unproven treatments. Trust evidence-based medicine. We are here to support you. Taking care of yourself is also an act of love for those you care about."

Breast cancer patients at the Hy Vong Cancer Centre. Photo: FV Hospital

FV Hospital encourages women to take a proactive approach to breast health. At the Breast Care Centre, patients receive advice on appropriate screening programmes based on their age and risk factors. Diagnostic options include state-of-the-art ultrasound, mammography, and 3.0-tesla MRI.

Patients can visit FV Hospital at No. 6 Nguyen Luong Bang, Tan My Ward (formerly District 7), Ho Chi Minh City, or call (028) 35 11 33 33 for further information. Breast cancer treatment and cancer care in general at FV are covered by health insurance in accordance with applicable regulations. Patients may also use private health insurance, where applicable, and take advantage of monthly instalment payment options.

Non-smoker diagnosed with early-stage lung cancer during routine health check-up Chev Cheng, a 54-year-old Cambodian, was diagnosed with early-stage lung cancer during a routine health check-up and successfully treated with robot-assisted surgery using the da Vinci Xi surgical system at FV Hospital, avoiding chemotherapy and radiation therapy.

Flying halfway around the world to Vietnam for treatment of spinal stenosis A Canadian woman who was nearly unable to walk due to spinal stenosis was successfully treated at FV Hospital and returned home to Canada one month after surgery.

Two Vietnamese midwives earn IBCLC certification in breastfeeding counselling Two midwives from the FV Thomson Maternity have earned an International Board Certified Lactation Consultant (IBCLC), an international credential for breastfeeding and lactation consultants.

The centers, located in Bengaluru and Hubli, will leverage HCLTech's global leadership in core engineering to offer Rapidus a range of semiconductor engineering capabilities, including mask design, design infrastructure, process design kit development, design technology co-optimization and layout design.

HCLTech will also collaborate with Rapidus to build a pipeline of Indian engineering talent to meet Rapidus' evolving talent requirements in Japan.

"Building a strong engineering ecosystem is essential as Rapidus advances our mission to establish next-generation semiconductor manufacturing capabilities in Japan," said Dr. Atsuyoshi Koike, Representative Director and CEO, Rapidus Corporation. "Through this collaboration with HCLTech, we expect to access India's growing pool of semiconductor engineering talent and establish dedicated development capabilities that complement our operations in Japan. We look forward to working together to develop the technical expertise and resources needed to support our long-term objectives."

"Advanced semiconductors will define the technologies of the next decade," said C Vijayakumar, CEO and Managing Director, HCLTech. "This partnership reflects the growing strategic collaboration between Japan and India, bringing together Rapidus' next-generation semiconductor ambitions with HCLTech's engineering expertise to accelerate chip adoption, compress time-to-market and lay the foundations for the next era of semiconductor innovation."

To learn how we can supercharge progress for you, visit hcltech.com.

Held from 4 to 6 November at the Suntec Singapore Convention & Exhibition Centre, SUMW 2026 is jointly organised by the Land Transport Authority (LTA), MSI Global Pte Ltd, and MP Singapore. As Asia's premier urban mobility congress and exhibition, the event is expected to attract more than 8,000 participants from over 50 countries, with over 200 participating companies and brands showcasing the latest urban mobility technologies and solutions. Mr Jeffrey Siow, Minister for Transport and Second Minister for Finance, will deliver the opening speech on Singapore's vision for the future of urban mobility, and how we are investing today to build a transport system for generations to come.

Themed "Drive the Future - Autonomous Innovation, Smart Infrastructure, and Urban Mobility", SUMW 2026 will explore key challenges and opportunities facing cities today, including the deployment of autonomous vehicles, renewal of ageing transport infrastructure, technology-enabled transport operations and infrastructure, upskilling of transport workers, and sustainable mobility. Discussions will also explore how transport systems can better respond to commuters' evolving needs.

Key Highlights of SUMW 2026

Leaders' Summit & Industry Forums

Close to 100 key industry leaders and regulators from nearly 20 countries have been invited to share their insights. The Leaders' Summit on 4 November will feature four panel discussions led by LTA's senior leadership, covering commuter needs, autonomous vehicle deployment, workforce transformation and rail renewal. The Industry Forum on 5 and 6 November will explore autonomous and intelligent mobility, digitalisation, future-ready infrastructure and sustainable transport systems.

Exhibition Showcase

More than 200 participating companies and brands will showcase the latest innovations in electric and autonomous vehicles, intelligent infrastructure, AI-powered mobility solutions, rail and bus systems, and first-and-last-mile logistics. Founding partners include BYD Singapore Pte Ltd, Certis Cisco Security Pte Ltd, China Communications Construction Company Ltd., CRRC Corporation Ltd, Huawei International Pte Ltd, SBS Transit, Siemens Mobility Pte Ltd, SMRT Corporation Ltd, and ST Engineering Urban Solutions Ltd.

Youth Xchange

Youth Xchange will showcase 12 youth-led innovations and ideas that bring the future of land transport to life. These include projects developed through hackathons and innovations by students from Institutes of Higher Learning. Through Youth Xchange, SUMW provides a platform for young talents to showcase their work and engage with the industry.

Hosted Buyers Programme

Curated meetings will connect solution providers with decision-makers from transport agencies and operators across the region, creating opportunities for industry collaboration and partnerships.

Ng Lang, Chief Executive of LTA, said: "As cities respond to evolving travel needs and rapid technological change, it is important that we plan ahead and harness innovation to build transport systems that are reliable, sustainable and responsive to commuters' needs. Singapore Urban Mobility Week brings together leaders, innovators, and practitioners from around the world to exchange experiences, learn from one another and explore solutions to common challenges. Importantly, it is also an opportunity to engage our youth and inspire them to discover the exciting possibilities in transport. We look forward to the diverse perspectives that SUMW will bring."

Chua Chong Kheng, Chief Executive Officer of MSI Global Pte Ltd, added: "The future of urban mobility depends on how effectively we translate innovation into practical solutions that improve everyday journeys. SUMW 2026 brings together international perspectives and Singapore's land transport experience to explore key priorities, from deploying autonomous vehicles and renewing infrastructure to preparing our workforce for change. Through the exchange of practical insights and experiences, we hope to foster partnerships that will help cities address their evolving transport needs."

Jason Ng, Managing Director of MP Group, said: "SUMW 2026 brings the urban mobility community together to discover solutions, exchange ideas and forge new partnerships. Through the exhibition, conference discussions and curated business meetings, participants can explore emerging technologies and identify opportunities for collaboration across markets. We look forward to welcoming delegates, exhibitors and visitors to Singapore for three days of meaningful connections that help turn ideas into business opportunities and advance the future of urban mobility."

Visitor and Delegate Registration: https://sgurbanmobility.com/registration/
For more information on SUMW 2026, visit https://www.sgurbanmobility.com

ANNEX A – SUMW 2026 Programme Highlights

About LTA

The Land Transport Authority (LTA) is a statutory board under the Ministry of Transport, which spearheads land transport developments in Singapore. As the agency responsible for planning, designing, building and maintaining Singapore's land transport infrastructure and systems, we aim to bring about a greener and more inclusive public transport system, complemented by convenient options to walk and cycle from their homes or to their destinations. We leverage technology to strengthen our rail and bus infrastructure and provide exciting options for future land transport. For more information, please visit the website at www.lta.gov.sg.

MSI Global Pte Ltd

MSI Global Private Limited was incorporated in Singapore in 1995 as a wholly owned subsidiary of the Land Transport Authority ("LTA") of Singapore. Leveraging on the wealth of experience, knowledge and skills amassed by LTA's highly-skilled workforce comprising more than 6,000 professional and technical staff, MSI provides quality customised services and solutions across more than 20 countries worldwide.

MSI's consultancy expertise covers all key aspects of land transport management and infrastructure development, which includes Integrated Transportation Planning, Land Transport Master Planning development, Project Management and Implementation, Rail Systems Engineering, Systems Assurance and Integration, Automatic Fare Collection and Ticketing System, Intelligent Transport System and Transport Demand Management.

MP Singapore

The MP Group (MP) is a global full-service agency that specialises in connecting and building eco-systems, industry engagement, events management and marketing. Established since 1987, MP embodies more than a quarter century of event building, marketing and management experience in both Eastern and Western cultures, practices, and business philosophies. We bring world-class talent, industry expertise, and incredible enthusiasm into the design and management of extraordinary online-to-offline experiences for your organisation.

MP is part of Pico Group, a global group of agencies specialising in engaging people, creating experiences and activating brands for businesses, institutions and governments. As part of the Pico group, MP has unlimited access to a wide network of industry contacts and resources. Pico Far East Holdings has been listed on the Hong Kong Stock Exchange since 1992.

ANNEX A

SUMW 2026 Programme Highlights

The final progression-free survival (PFS) analysis and interim OS analysis results of the study were previously presented at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting. As assessed by blinded independent central review (BICR), sac-TMT significantly improved PFS compared with chemotherapy (HR 0.32; 95% CI 0.24-0.44); in the prespecified interim OS analysis, sac-TMT showed a statistically significant OS benefit compared with physician's choice of chemotherapy (HR 0.53; 95% CI 0.36-0.78). Based on these results, sac-TMT was approved by the National Medical Products Administration (NMPA) of China in November 2024 for the treatment of adult patients with unresectable locally advanced or metastatic TNBC who have received at least two prior systemic therapies (at least one of them for advanced or metastatic setting).

The results of this final OS analysis showed that, at a median follow-up of 29.4 months, the results continued to demonstrate the statistically significant OS benefit already confirmed in the prespecified interim analysis:

• The risk of death was reduced by 40%, with an OS HR of 0.60 (95% CI 0.45-0.80) for sac-TMT versus chemotherapy; median OS was 14.7 months and 9.9 months in the two groups, respectively.
• The 30-month OS rate was 26.8% in the sac-TMT group versus 13.2% in the chemotherapy group, the survival benefit was sustained.
• The adjusted risk of death was reduced by 45%: 27.8% of patients in the chemotherapy group received subsequent therapy with an antibody-drug conjugate (ADC), after adjustment using the prespecified rank-preserving structural failure time (RPSFT) model, the OS benefit of sac-TMT remained consistent, with the OS HR of 0.55 (95% CI 0.39-0.73), and median OS was 14.7 months and 9.4 months in the two groups, respectively.

In terms of safety, no new safety signals were identified after extended follow-up. Treatment-related adverse events (TRAEs) in both groups were mainly hematologic toxicities. The incidence of TRAEs leading to treatment discontinuation was 1.5% in each group.

Professor Man Li from the Second Hospital of Dalian Medical University said: "For patients with advanced TNBC who have received multiple lines of therapy and have limited treatment options, sac-TMT monotherapy demonstrated a significant survival benefit compared with chemotherapy. In addition, based on its favorable safety profile and efficacy results, sac-TMT can achieve the dual clinical benefit of prolonging survival and improving quality of life, and help address an unmet need for patients with later-line TNBC."

OptiTROP-Breast01 study:
OptiTROP-Breast01 is a randomized, multicenter, open-label Phase III study where a total of 263 patients were enrolled and randomized 1:1 to receive sac-TMT or physician's choice of chemotherapy. The primary endpoint was BICR-assessed PFS, and OS was a key secondary endpoint. As of the data cut-off date of September 17, 2025, the median follow-up was 29.4 months. The study showed that sac-TMT demonstrated a clinically meaningful and sustained OS benefit versus chemotherapy; the OS benefit was generally consistent across prespecified subgroups, including patients who had previously received programmed cell death protein 1 (PD-1)/programmed cell death ligand 1 (PD-L1) inhibitor treatment and patients with human epidermal growth factor receptor 2 (HER2)-low expression.

About sac-TMT

Sac-TMT, a core product of the Company, is a novel trophoblast cell-surface antigen 2 (TROP2)-targeting ADC in which the Company has proprietary intellectual property rights, targeting advanced solid tumors such as non-small cell lung cancer (NSCLC), breast cancer (BC), gastric cancer (GC), gynecological tumors and genitourinary tumors, among others. Sac-TMT is developed with a unique, bifunctional linker that maximizes payload delivery to tumor cells both through its irreversible connection with the anti-TROP2 monoclonal antibody sacituzumab and its pH-sensitive cleavage from a belotecan-derivative topoisomerase I inhibitor payload (KL610023) in the lysosome, with a drug-to-antibody-ratio (DAR) of 7.4. Sac-TMT specifically recognizes TROP2 on the surface of tumor cells by recombinant anti-TROP2 humanized monoclonal antibodies, which is then endocytosed by tumor cells and releases the payload KL610023 intracellularly. KL610023 induces DNA damage to tumor cells, which in turn leads to cell-cycle arrest and apoptosis. In addition, it also releases KL610023 in the tumor microenvironment. Given that KL610023 is membrane permeable, it can enable a bystander effect, or in other words kill adjacent tumor cells.

In May 2022, the Company licensed the exclusive rights to MSD (the tradename of Merck & Co., Inc, Rahway, NJ, USA) to develop, use, manufacture and commercialize sac-TMT in all territories outside of Greater China (which includes Mainland China, Hong Kong, Macao and Taiwan).

To date, four indications for sac-TMT have been approved and marketed in China for: 1) unresectable locally advanced or metastatic TNBC who have received at least two prior systemic therapies (at least one of them for advanced or metastatic setting); 2) epidermal growth factor receptor (EGFR) mutant-positive locally advanced or metastatic non-squamous NSCLC following progression on EGFR-tyrosine kinase inhibitor (TKI) therapy and platinum-based chemotherapy; 3) EGFR mutant-positive locally advanced or metastatic non-squamous NSCLC who progressed after treatment with EGFR-TKI therapy; 4) unresectable or metastatic hormone receptor-positive (HR+)/ HER2- (Immunohistochemistry (IHC) 0, IHC 1+ or IHC 2+/In Situ Hybridization (ISH)-) BC who have received prior endocrine therapy and at least one line of chemotherapy in advanced setting. The first two indications above have been included in China's National Reimbursement Drug List (NRDL). This inclusion is expected to bring clinically meaningful benefits to a greater number of patients with BC and NSCLC. Additionally, sac-TMT has been granted six Breakthrough Therapy Designations by the NMPA.

Sac-TMT is the world's first TROP2 ADC drug approved for marketing in lung cancer. Two new indication applications have been accepted for review by the NMPA: 1) sac-TMT in combination with pembrolizumab as first‑line treatment for locally advanced or metastatic NSCLC who have PD-L1 tumor proportion score (TPS) ≥1% and are EGFR-negative and ALK-negative; 2) sac‑TMT as first‑line treatment for patients with recurrent or metastatic TNBC who have a PD‑L1 combined positive score (CPS) <10 or have recurred after prior pd‑1>

For more information, please visit: https://en.kelun-biotech.com/.

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

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

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

About Rivo AI

Rivo AI is a Singapore-based technology company developing WhatsApp-based AI assistants for property agents. Its Viewing Agent handles incoming property enquiries, assesses prospective buyers' requirements and books viewings through agents' existing WhatsApp Business numbers. Its Agent Assistant keeps agents informed through daily briefings, booking alerts and conversation updates. In a live Lentor Gardens pilot, Rivo reports handling more than 200 buyer conversations and booking four property viewings without human intervention. The company aims to help property agents manage enquiries more efficiently while maintaining personal relationships with their clients. Visit rivoai.co to learn more.

“Confidence among accountants in Asia-Pacific fell back materially, shedding almost three-fifths of its huge Q2 increase, although it remains just above its long-term average. Globally, confidence declined only slightly. The fall in the region may reflect renewed Middle East tensions and the rebound in energy prices, but the key indicators generally point to a constructive picture. The resilient US and global economies are supportive, and several countries in the region are important beneficiaries of the global AI boom, with robust investment in the US fuelling surging exports from Asia-Pacific,” the report said.

Geopolitical instability is the top risk priority for finance professionals in Asia-Pacific, ranked first by 24.1 per cent of respondents in the region, compared with 18.4 per cent globally, where economic pressures lead at 24.4 per cent. Talent and skills concerns (14.9 per cent versus 10 per cent globally) and supply chain disruption (9.2 per cent versus 6.6 per cent) are also ranked first more often in Asia-Pacific than worldwide. Several respondents in the region described how climate change could disrupt supplies and services.

“Asia-Pacific’s key indicators appear quite encouraging, with the region being a major beneficiary of the global AI investment boom. Downside risks remain though, including a further large rise in energy prices and what is expected to be an extremely powerful El Niño weather effect. Anything that fuelled a meaningful slowing in the AI boom would also clearly be problematic,” said Jonathan Ashworth, chief economist, ACCA. “While the global economy has shown remarkable resilience this year, downside risks remain prevalent. The longer energy and other prices remain elevated, the greater the pressure on firms to pass on their cost increases, which would weigh on consumers and increase the likelihood of further rate hikes by the major central banks.”

Jonathan Ashworth, chief economist, ACCA. Photo: ACCA Vietnam

According to the report, cost pressures remain a concern for businesses in the region. 62 per cent of Asia-Pacific respondents reported increased operating costs in Q3, down from Q2 but still meaningfully above the series average of 52 per cent.

Resilient economic activity and elevated cost pressures may increase pressure on the region’s central banks to tighten policy: 41 per cent of respondents expect interest rates to rise in their country over the next three months, up from 24 per cent in Q1 and 30 per cent in Q2.

Globally, the survey points to a resilient economy, although downside risks are growing amid the renewed rise in energy prices and inflation, large increases in government bond yields, and tighter monetary policy. Almost 70 per cent of accountants worldwide reported increased operating costs in Q3, and almost 50 per cent expect interest rates to rise in their country over the next three months, up from 42 per cent in Q2.

“There is something of a tug of war going on in the global economy at the present time, with the AI boom a major driver of growth and stock markets, while higher energy prices, inflation and government bond yields are pulling in the other direction. Further significant gains in energy prices and government borrowing costs would be increasingly challenging for global growth,” said Alain Mulder, senior director, Europe Operations & Global Special Projects at IMA.

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

Building the VIFC starts with increased financial talent pool As Vietnam moves to develop its own financial hub, Helen Brand, chief executive at the Association of Chartered Certified Accountants (ACCA), shared with VIR’s Hazy Tran that a deep pool of internationally qualified professionals and tech-enabled skills will be critical for lasting competitiveness.

AI revolution testing ethical standards in accountancy Although AI is expanding the capacity to process and analyse financial information, its use raises fundamental questions about the limits of automated outputs, the role of human judgement and the accountability of finance professionals.

• Merck Hong Kong Centre: The dedicated physical facility at Hong Kong Science Park will provide Park startups and researchers with advanced scientific product supply, live demonstrations of cutting-edge technologies and expert consultation services. The Centre will serve as a physical hub connecting local innovators with Merck's technology resources.
• Training and Consultation Initiative: Connecting Merck's industry experts with HKSTP's startups and researchers through technical training, clinical advisory and professional consultation services to promote knowledge exchange and strengthen research and application capabilities.
• Innovation Scouting Program: Establishing a structured mechanism to identify, evaluate and connect high-potential startups directly with Merck's global innovation network, exploring collaboration opportunities including commercial partnerships, proof-of-concept pilot projects and strategic venture investment opportunities.
• Merck Innovation Day: An annual flagship event held at Hong Kong Science Park focusing on life science, healthcare and electronics, bringing together startups, academia and industry leaders to showcase innovations and foster cross-sector exchange and co-development.

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

More information about HKSTP is available at www.hkstp.org.

Speaking at The Makeover 2026 in Ho Chi Minh City on October 15, Nguyen Thi Quynh Phuong, head of Human Capital Solutions at Talentnet, presented findings from the Talentnet-Mercer (Marsh) 2026 Total Remuneration Survey.

Together with Talentnet’s 2026 Employee Snapshot, a poll of nearly 1,500 employees across 19 industries, the data suggests that employee expectations of rewards are becoming more varied, and that one standard package no longer fits everyone.

Nguyen Thi Quynh Phuong discusses evolving rewards strategies at The Makeover 2026. Photo: Talentnet

RE.VEAL: rising productivity, AI, and more targeted talent investment

Figures presented at The Makeover 2026 put productivity at an estimated $28,956 per worker in 2026, up 24.4 per cent from 2022, and outpacing Asia-Pacific’s 14.2 per cent growth over the same period.

AI is also reshaping talent needs and pay priorities. Technology is adding another layer of pressure. AI adoption is accelerating across Asia-Pacific and Vietnam, reshaping jobs, and increasing demand for data, digital, and AI capabilities. As businesses move towards broader AI deployment, they must build future-ready skills while managing the rising cost of scarce technology talent.

Vietnam’s labour market is showing signs of stabilisation, with voluntary turnover easing in the first half of 2026, even as the labour market stabilises, targeted investment in talent remains essential. The Talentnet-Mercer survey shows that 43 per cent of organisations plan to increase headcount, and another 43 per cent plan to hold it steady, signalling a cautious hiring outlook. Compensation is equally selective: merit increases for 2026 are projected at around 6 per cent for both multinational and local companies, while variable bonuses remain a key tool for tying rewards to individual contribution and company performance.

Development remains a priority, with more than 70 per cent of surveyed organisations providing training support for technical and job-related skills. Overall, employers are moving towards more targeted human capital investment, where recruitment, rewards, and development decisions must increasingly prove their impact on organisational performance.

RE.ACT: Mounting cost pressures call for targeted action

Behind these shifts lie mounting cost pressures. Figures presented at the event point to 2026 as the first year in which energy and gold prices, US Federal Reserve rates, domestic borrowing costs, and inflation are all trending upward at the same time, making it harder for businesses to balance workforce spending against revenue growth and profitability.

For employers, this creates a twofold challenge: keeping costs under control while attracting and retaining critical talent, particularly as AI and technology reshape talent needs. Rather than applying uniform raises, businesses should adopt a more tailored rewards strategy, prioritising the roles and skills that are most critical to strategic priorities, and will create the greatest business value

During the RE.ACT session, Talentnet also presented four workforce models that highlight how industries are responding differently to macroeconomic shifts, rising cost pressures, and technological advancements: Sustainable Growth, Investment, Streamline, and Resilience. These models illustrate the diverse ways businesses are adapting their workforce and rewards strategies to balance business growth, talent investment, cost efficiency, and organisational resilience in an increasingly uncertain environment.

Talentnet-Mercer (Marsh) 2026 findings reveal emerging salary trends across Vietnam’s industries. Photo: Talentnet

RE.DEFINE: Moving beyond one-size-fits-all rewards

While market conditions shape resource allocation, changing employee expectations are pushing organisations to rethink reward design. Talentnet’s 2026 Employee Snapshot shows that salary, bonuses, and medical insurance remain the top priorities across all generations. Beyond these, preferences differ: Gen X leans towards flexibility and recognition, Gen Y towards career development and recognition, and Gen Z towards learning, recognition, and wellbeing. Standardised packages therefore risk delivering uneven value across groups.

Tailoring rewards, however, is not only about individual preferences. It also means linking pay to the value employees create, such as their contribution, role, and skills, alongside tenure or rather than relying on a single standard formula. Doing so helps businesses allocate resources more strategically and better attract, retain, and develop key talent.

An effective Total Rewards Strategy must balance market competitiveness, employee expectations, and long-term business priorities, echoing Talentnet’s closing message, “REMEMBER - PEOPLE First.” Putting people first does not simply about how much organisations spend, but how effectively they align rewards with what employees’ value and what the business needs. By designing rewards around both employee expectations and business priorities, organisations can make more effective use of their rewards' investment while supporting employee engagement and long-term business performance.

Businesses urged to align with Maslow's hierarchy of needs In anticipation of the evolving workforce in 2025, businesses are urged to revamp their HR strategy in line with Maslow's Hierarchy of Needs to improve employee satisfaction.

The Makeover 2025 showcases AI-driven innovation in business and HR The Makeover 2025 brought together over 1,800 executives in Ho Chi Minh City to explore how technology and human insight can shape the future of business.

Talentnet Academy and SMU ExD launch NextGen for Vietnamese family business leaders Talentnet Academy, the capability development arm of Talentnet Group, and Singapore Management University Executive Development (SMU ExD) on September 30 announced “NextGen: Lead the Legacy, Shape the Future,” a leadership development programme designed for the next generation of leaders in Vietnamese family-owned and private enterprises.

You’ve mentioned that adopting more technology during digital transformation does not necessarily improve a bank’s operational efficiency. Could you elaborate on why this is the case?

In the early stages of digital transformation, many banks moved their traditional processes online. Customers could fill out forms digitally, and some processes that once took days could be completed in minutes. This was a major improvement, but digitising individual processes alone does not create a smooth, connected customer journey from start to finish.

The challenge is that the systems used for different banking functions often operate separately. Customer information may be stored in a CRM system, credit data in another system, and transaction records, collections, and customer service data in separate systems. When these systems are not connected, banks struggle to get a complete view of their customers, often called a “Customer 360” view, which is important for making better decisions.

The second step is to move beyond digitising individual touchpoints and start connecting data across the bank. This leads to Cognitive Banking, where each function uses its knowledge and intelligence to understand customer needs and make better decisions. At this stage, the bank can use data to gain insights, learn, and adapt. All these functions work together by sharing information and reasoning, helping the bank operate more intelligently.

By bringing together a complete view of each customer, including their identification details, payment history, transaction behaviour, and product needs, banks can better understand their customers. Front-office staff can provide better advice, risk management teams can make better-informed decisions, and sales and service teams can identify customer needs and requests more accurately.

Banks are moving towards autonomous banking, where AI can help manage processes from the data integration stage onwards. However, using AI agents across disconnected systems and workflows may not deliver the expected results.

Despite significant advances in technology, AI alone cannot guarantee better business performance or deliver real value if a bank’s data and the four areas of Cognitive Banking are not ready. These areas may remain disconnected, making it difficult for the bank to get a complete understanding of each customer. As a result, AI may add to operational complexity rather than improve efficiency and performance.

As AI moves from assisting to proactively executing banking processes, which decisions should remain subject to human oversight?

AI can analyse data to identify potential customers and suggest opportunities to offer them additional products or services. For loan applications, it can check supporting documents, review application details, and bring all the relevant information together for credit officers to assess. AI can also provide a complete view of the products a customer already uses, helping bank staff better understand their needs and make more suitable recommendations.

However, it is important to distinguish between using AI to support tasks and allowing it to make decisions on its own. For decisions that can significantly affect customers, such as credit approvals, AI can collect, analyse, and summarise information, but authorised bank officials must review and approve the final decisions in line with the bank’s procedures. The level of automation should depend on the task, the risks involved, and the bank’s rules and controls.

As the number of AI agents grows, the challenge is not just what each agent can do, but also how the bank can monitor their overall activities. Banks need to know which agent took an action, when it happened, and why. All activities must be easy to track, review, and audit, with clear records to help identify and fix errors. Without a common system to monitor these activities, accountability can become unclear, making audits and reviews more difficult.

Staff can also ask the system questions in simple, everyday language, such as which potential customers are in a particular area or what the status of a customer group is. The system brings together the relevant data to provide answers, while ensuring that staff can only access information they are authorised to see.

AI innovation should not be measured only by how many tasks it can automate. Control, transparency, and accountability must be built into the system from the start. As AI takes on more responsibilities, proper monitoring, clear rules, and the ability to track its actions become even more important.

How can Vietnamese banks benefit from AI innovation while meeting data sovereignty requirements and maintaining control over cross-border data processing?

Banks need to consider two things: where their data is stored and where it is processed. Storing data in Vietnam does not necessarily mean that all data processing also happens within the country, especially when banks use AI models provided by external companies. Before choosing a technology, banks need to understand how their data moves, how the system works, and what rules apply to each use case.

There is no single deployment model that works for every bank. Depending on their business needs, existing infrastructure, and Vietnam’s regulatory requirements, banks can consider several options: hosting systems in their own data centres, using a private cloud, choosing a public cloud, or adopting a hybrid model that combines different approaches.

Our solution gives banks the freedom to choose the deployment model that best suits their needs while meeting applicable Vietnamese regulations. Before making a decision, banks should carefully assess data protection, access controls, risk management, and compliance requirements.

Another important question is whether to build a solution in-house or buy an existing solution from the market. This is not just a technology decision. Banks must also consider their available resources, the level of control they need, and how easily they can adapt to changes in business processes and regulations.

Platforms that allow banks to customise processes, interfaces, and workflows without changing the underlying source code can give them greater flexibility and control. BusinessNext follows the buy approach, providing banks with an existing platform that they can adapt to their operational needs. Whatever approach they choose, banks should consider their ability to manage, maintain, and control the system over the long term, rather than focusing only on how quickly it can be implemented.

Our experience across several Southeast Asian markets, along with discussions with prospective clients in Vietnam, shows that every bank has different needs and challenges. The starting point should not be choosing the most advanced technology, but clearly identifying the business problem, understanding how sensitive the data is, and defining the level of risk the bank is willing to accept.

Ultimately, AI should be judged by the business value it delivers, how well it supports daily operations, and how effectively risks are managed. A solution is truly useful when it fits the bank’s data, processes, infrastructure, and regulatory requirements. While adopting AI quickly is important, banks must balance speed with proper control and measurable results.

Three stages towards autonomous banking

Photo: BusinessNext Vietnam

Photo: BusinessNext Vietnam

Banks poised for Q3 profit growth amid margin pressure Many banks are forecast to continue growing profits in the third quarter of 2026, supported by credit expansion. However, rising funding costs and narrowing net interest margins are putting pressure on the earnings outlook for some lenders.

VIFC-HCMC facilitates $325 million in international capital for Vietnam’s education development A prominent private education provider has partnered with leading international banking group Standard Chartered to mobilise up to $325 million for major education development projects in Vietnam, channelled through the Vietnam International Financial Centre in Ho Chi Minh City.

FTSE upgrade opens door to $2 billion in passive fund inflows Vietnam's stock market reclassification by FTSE Russell opens access to new capital flows, but interest rates, valuations, and macroeconomic conditions will continue to shape the direction and pace of inflows.

According to Sacha Dray, an economist at the World Bank, ASEAN is a dynamic economic region with a market of nearly 700 million people and an economy worth approximately $4 trillion.

However, despite its market size and manufacturing capabilities, economic integration among ASEAN member states remains relatively limited.

“One notable figure is that only around 22 per cent of ASEAN’s exports are destined for markets within the bloc, compared with approximately 60 per cent in the European Union,” Dray said.

He added that this indicates that most goods produced in ASEAN are still destined for external markets. According to Dray, this reliance leaves regional economies vulnerable to weaker demand in major export markets and changes in international trade policies.

Meanwhile, limited intra-regional integration also constrains the ability of member states to share the economic benefits generated across the region. Greater trade in raw materials, components and finished products within ASEAN would allow the value created through manufacturing to be distributed across more economies, rather than being concentrated primarily in supply chains serving external markets.

Against this backdrop, Dray said ASEAN needs to encourage complementary manufacturing models, leveraging the distinct advantages of each economy to build collective competitiveness.

Citing the European aerospace industry, where aircraft components are manufactured in countries such as France and Germany before being assembled, Dray suggested that similar production networks could be developed across ASEAN.

In the semiconductor industry, each economy could specialise in stages of production that match its capabilities and strengths, linking them into regional supply chains rather than developing their industries in isolation.

However, realising this model will require ASEAN to address barriers related to product standards, rules of origin and transparency in trade. These factors directly affect the ability to connect suppliers across countries, even where many intra-regional tariffs have already been eliminated.

Alongside deeper regional integration, Dray said ASEAN economies need to explore ways to adopt advanced manufacturing technologies suited to their respective stages of development. This would enable the region to gradually strengthen its manufacturing capabilities and move into higher value-added activities.

From a government policy perspective, Pham Quynh Mai, deputy director general of the Ministry of Industry and Trade’s Department of Multilateral Trade Policy, identified three areas in which ASEAN needs to strengthen cooperation.

First, customs procedures should be simplified and made more transparent, with greater use of electronic documentation to facilitate the movement of goods between member states.

Second, standards, regulations and certification procedures need to be harmonised. ASEAN should strengthen information sharing and build the capacity of member states, while reducing unnecessary duplication in regulations, inspections and certification processes.

Third, rules of origin should be simplified. ASEAN’s participation in multiple free trade agreements (FTAs), each with different rules of origin, has created complexity and made compliance more difficult for businesses.

Barriers relating to procedures, standards, certification, rules of origin and logistics all play an important role. ASEAN therefore needs a coordinated approach to reduce costs, shorten times and boost transaction.

Alongside stronger economic integration, speakers said that Vietnam and ASEAN’s ability to move up the global supply chain would also depend on technological capabilities, workforce quality and businesses’ ability to adapt.

Drawing on ABB’s decades of experience in Vietnam, Nguyen Thuy Lam Tuyen, general director of ABB Vietnam, said technology could be purchased or acquired in a relatively short time, but building genuine manufacturing capabilities required a long-term process of accumulation.

“When a multinational corporation invests in a country, the value it brings extends beyond machinery, automated production lines and technology transfer. More importantly, it includes manufacturing know-how, global standards, operational capabilities and the ability to build resilient supply chains,” Tuyen said.

Tuyen said the transfer process should focus on three elements: knowledge, capabilities and trust. Knowledge transfer should go beyond training workers to operate machinery to include skills in productivity management, workplace safety and continuous process improvement in line with international standards.

“Capability transfer, meanwhile, aims to enable local engineering teams to gradually take on more complex tasks, solve problems, improve manufacturing processes and participate in global projects, rather than being confined to routine operational work,” she said.

The third element is building trust across the entire value chain, from customers to suppliers.

“When supporting small and medium-sized enterprises in Vietnam, the group does more than set requirements for component manufacturing or specific production tasks. It also shares expertise to help businesses meet standards for safety, traceability and sustainability,” she added.

Meanwhile, Yuxiang Zhou, CEO and founder of Black Lake Technologies, said the growth of e-commerce and consumer data was fundamentally changing product development.

“Businesses can now access customer feedback and understand consumer preferences earlier, but they also face mounting pressure to shorten the time from initial concept and design to actual production,” said Zhou.

For small and medium-sized enterprises, Zhou said, the challenge is not simply to improve productivity, but also to fulfil increasingly diverse orders and maintain manufacturing flexibility while keeping quality and costs under control. Zhou said technology should focus on addressing specific impediments in production processes, rather than merely digitising information.

Introducing an AI agent solution developed by Black Lake Technologies, Zhou said the time needed to convert technical drawings into manufacturing processes could be reduced from approximately 45 hours to 45 seconds, with an accuracy rate of around 95 per cent.

Beyond speeding up processing, the solution also helps digitise the experience of veteran engineers, turning knowledge accumulated over years of work into a resource that can be shared and used across the factory.

AI is not merely a tool for improving efficiency. It also offers opportunities to organise production more flexibly, enabling businesses to meet customers’ specialised requirements and move into higher value-added activities.

Open Innovation Day 2026: Building the next-generation industrial city Open Innovation Day 2026, “Building the Next-Generation Industrial City,” took place in Ho Chi Minh City on October 26, launching a series of activities under the 2026 Autumn Economic Forum.

CEO 500 opens up cooperation opportunities in FDI and technology On the afternoon of October 26, as part of the Autumn Economic Forum, the CEO 500 programme was held to provide a platform for dialogue between Ho Chi Minh City leaders, ministries and agencies, and the international business community.

Vietnam-India forum promotes tech cooperation in AI, semiconductors The Vietnam-India Future Technology Forum has been held in Ho Chi Minh City to promote cooperation in technology research, application, and commercialisation, particularly in AI, semiconductors, digital infrastructure, and high-quality workforce development.

The establishment of the Building Systems Division is part of MEVN’s broader business restructuring in Vietnam, bringing together activities spanning sales, project installation, maintenance, and after-sales services.

Following the first SAP transformation project in 2025, MEVN continued its partnership with Hitachi Digital Services Vietnam to support this business transition by extending the existing SAP S/4HANA platform to the new division, advancing its SAP transformation journey towards one SAP platform for One MEVN. Delivered over seven months, the transformation programme went live on October 1, establishing a unified digital platform to support day-to-day operations, strengthen governance, and provide a scalable foundation for future growth.

An integrated platform for a key business segment

Mitsubishi lifts have been in Vietnam since 1973, when the first unit was installed at Cho Ray Hospital. According to Mitsubishi Electric, the brand has since established a strong reputation in Vietnam for quality and safety in lifts and escalators.

Today, its operations are supported by a network of offices and service locations across the country, covering customer needs from product consultation to maintenance and after-sales services.

Integrating the Building Systems Division into MEVN’s broader operating model goes beyond organisational change. It requires seamless integration across the entire business value chain from sales and project installation to maintenance services, procurement, inventory management, and finance.

By extending its existing SAP S/4HANA platform, MEVN brings critical business processes and data into a unified environment, strengthening operational consistency, enhancing business visibility, and creating a scalable foundation for the Building Systems Division’s future growth.

Kunihiko Seki, managing director of Mitsubishi Electric Vietnam, said, "Integrating our Building Systems business into Mitsubishi Electric Vietnam is an important step in strengthening our operations and preparing for future growth. The successful SAP S/4HANA implementation brings our people, processes, and business information together on a unified platform, enabling greater consistency, visibility, and control across our operations. We appreciate the commitment and close collaboration of the Hitachi Digital Services team in helping us achieve this important milestone.”

Powering transformation through partnership

Hitachi Digital Services Vietnam led the implementation through its Vietnam Delivery Centre, bringing together expertise in SAP consulting, business process design, systems integration, data migration, and governance.

The engagement focused on aligning the new division's business requirements with MEVN's existing SAP environment, configuring processes across multiple business functions, and establishing the necessary financial controls, reporting structures, and user authorisations.

The delivery approach included business process workshops, system development, data migration, integration testing, and user training. Structured project governance, quality reviews, and close collaboration between the MEVN and Hitachi Digital Services teams supported the transition to live operations.

Nguyen Ba Quynh, senior vice president at Hitachi Digital Services Vietnam and market leader at Hitachi Digital Services APAC, said, "This project demonstrates how enterprise technology can support complex business integration while maintaining continuity in day-to-day operations. Our teams worked closely with Mitsubishi Electric Vietnam to bring together business processes, data, and governance within its existing SAP environment."

"Successfully migrating a significant volume of business-critical assets and contracts within seven months reflects the depth of our SAP delivery expertise and the strength of our collaboration. We are proud to support MEVN in building a more integrated and scalable operational foundation.”

Success powered by SAP delivery expertise and strong collaboration. Photo: Mitsubishi Electric Vietnam

A platform for future growth

The successful go-live marks an important step in MEVN’s integration of its new Building Systems Division and continues the collaboration between Mitsubishi Electric Vietnam and Hitachi Digital Services.

For MEVN, the transformation establishes more than a common technology platform. It creates an integrated operating foundation that connects sales, project installation, maintenance, and customer service with procurement, inventory, and finance, enabling the Building Systems Division to operate as part of MEVN’s broader enterprise environment.

With common processes, data, and controls across these functions, MEVN has established a stronger foundation to support operational consistency, business visibility, and the future development of its Building Systems business in Vietnam.

Mitsubishi Electric to establish factory for automation products Mitsubishi Electric Corporation announced that it will acquire an 80 per cent stake in Fuji Bakelite Vietnam Co., Ltd. on the outskirts of Hanoi.

Cooperation must align with Vietnam’s long-term ambitions As Vietnam continues its strong momentum and advances towards its aspiration of becoming a high income country by 2045, the Japan International Cooperation Agency (JICA), under the policy of the government of Japan, remains committed to supporting Vietnam’s reform efforts through both financial and technical cooperation.

Japanese investors see growing opportunities in Vietnam's startup ecosystem Japanese venture capital firms and investors are deepening their engagement with Vietnam's startup ecosystem. Miki Takahiro, director of the Japan External Trade Organization in Ho Chi Minh City spoke with VIR's Thanh Van about the latest investment trends and startup opportunities.

The Conditional Approval was formally presented during the opening of Singapore International Energy Week 2026 on October 26, providing a basis for the participating consortia to advance the next stages of project development, subject to the necessary regulatory and project approvals.

The VMS initiative aims to import up to 1.3 GW of renewable electricity into Singapore through a regional power corridor linking Vietnam, Malaysia, and Singapore. It will harness Vietnam's offshore wind resources alongside solar and battery energy storage infrastructure in Malaysia, with imports expected to commence in 2035.

Under the proposed arrangement, renewable electricity generated in Vietnam would be transmitted through Malaysia and supplied to both Malaysia and Singapore, with Malaysia serving as both a recipient and transit country.

The Conditional Approval builds on the Joint Development Agreement signed in May 2025 between the consortium comprising PetroVietnam Technical Services Corporation, a member of Vietnam National Industry-Energy Group, and Singapore-based Sembcorp Utilities, and MY Energy Consortium, comprising Malaysia's Tenaga Nasional Berhad and Petronas.

Since the JDA signing, the participating consortia have advanced technical and commercial activities in close collaboration with governments, regulators, and stakeholders across the three countries.

The VMS initiative supports broader efforts to unlock Southeast Asia's renewable energy potential, strengthen cross-border energy connectivity, and contribute to the advancement of the ASEAN Power Grid.

Sembcorp achieves Vietnam's first LEED Volume prototype pre-certification Sembcorp Development, a wholly owned subsidiary of Sembcorp Industries, has achieved pre-certification for Vietnam's first LEED Volume prototype for ready-built facilities, enabling faster deployment of green industrial buildings.

Vietnam's industrial property sector shifts towards green growth Vietnam’s industrial property sector is entering a new phase of green development, requiring developers to adapt their strategies to an increasingly competitive landscape.

Sembcorp embraces a next-generation industrial ecosystem At the Vietnam Industrial Property Forum on September 29, Lee Ark Boon, CEO of Sembcorp Development, delivered a keynote speech about building an industrial ecosystem.

Announced on October 27, the proceeds will finance the client's Battery Energy Storage System (BESS) units installed alongside existing 110kV substations across northern Vietnam.

HSBC acted as Sole Mandated Lead Arranger, Underwriter and Bookrunner, Sole Green Coordinator, and Facility Agent for the transaction. With an eight-year door-to-door tenor, the deal sits at the longer end of Vietnam's offshore syndicated loan market, where comparable precedent remains limited.

It was significantly oversubscribed and attracted 15 lenders from China, South Korea, Taiwan, and Thailand. The successful execution demonstrates strong lender confidence in Northern Power Corporation (EVNNPC) and the strategic importance of grid-scale energy storage to Vietnam's energy transition.

EVNNPC’s BESS programme will be deployed across 70 existing substations, helping to strengthen grid stability and reliability, meet growing electricity demand, and reduce the risk of grid congestion and outages. The project will also support the implementation of the revised Power Development Plan VIII and advance the development of energy storage systems under the National Energy Master Plan.

“HSBC is proud to support EVNNPC’s first offshore syndicated US dollar financing and its investment in battery energy storage infrastructure,” said Tim Evans, CEO and head of Banking at HSBC Vietnam. “This landmark transaction combines tailored green financing with the practical infrastructure needed to strengthen grid resilience and support Vietnam’s transition towards a more flexible and sustainable power system. The strong participation from lenders reflects the market’s confidence in EVNNPC and the importance of this programme.”

The transaction further strengthens HSBC’s relationship with EVNNPC, following the successful completion of several bilateral long-term onshore facilities. Securing funding from international markets will enable the power company to diversify its funding sources, while reinforcing HSBC’s position as a trusted partner supporting the varied financing needs of Vietnamese corporates.

By structuring the facility as a green loan in line with the Green Loan Principles, HSBC worked closely with EVNNPC to align the financing with the environmental benefits of its BESS programme. The transaction demonstrates how tailored sustainable finance can help mobilise capital for critical energy infrastructure.

The transaction aligns with the State Bank of Vietnam’s direction to encourage syndicated financing for large-scale projects. It also demonstrates HSBC’s commitment to helping local corporates grow, diversify their funding, and invest in a more resilient, sustainable economy.

HSBC launches $4 billion clean energy credit facility HSBC has launched a $4 billion credit facility in mainland China to support clean energy and low-carbon companies scaling internationally, with Vietnam a key target.

HSBC provides sustainability-linked trade facilities to Bach Hoa Xanh HSBC Bank has provided short-term sustainability-linked trade facilities to Bach Hoa Xanh, one of Vietnam's leading grocery chains owned by Mobile World Group.

FX pressures to persist but remain manageable in H2: HSBC Ngo Dang Khoa, country head of Markets and Securities Services at HSBC Vietnam, spoke with VIR’s Hong Dung about the outlook for Vietnam’s FX market, the USD/VND exchange rate, and key risks shaping market expectations in the second half.

Monica Finlayson, Australia's agriculture counsellor to Vietnam, Cambodia, and Laos, said agriculture plays a vital role in ensuring food security and protecting livelihoods, with women making important contributions throughout the value chain. However, their roles have yet to be fully recognised.

Speaking to VIR, Finlayson shared that women account for around 48 per cent of the agricultural workforce in Vietnam and approximately 36 per cent in Australia, making significant contributions to farm production, agribusiness, natural resource management, and rural communities.

“Yet in both countries, women remain underrepresented in formal leadership and decision-making roles across the agricultural sector,” said Finlayson. “This leadership gap represents a challenge for gender equality alongside a missed opportunity for the sector. At a time when agriculture must respond to growing food demand, climate change and the need for more resilient and sustainable production systems, women are an under-utilised source of innovation, expertise and leadership. By empowering more women to lead, Australia and Vietnam can strengthen productivity, enhance resilience and deliver broader economic, social and environmental outcomes.”

Monica Finlayson, Australia's agriculture counsellor to Vietnam. Photo: Australian Embassy in Vietnam

To turn policy commitments into tangible impact, Finlayson noted that investment in women's leadership is needed at every level of the agricultural system. This includes supportive policies and institutional arrangements, targeted leadership and governance programmes, access to education and training, opportunities to develop technical and business skills, as well as professional networks and mentoring pathways. Such investments can help expand the pipeline of women leaders across government, research organisations, agribusinesses, and farming communities.

“Multi-stakeholder platforms that bring together government, industry, academia and producers are critical to strengthening the participation, leadership and empowerment of women in agriculture. In addition to supporting the exchange of knowledge and innovation, they foster connections, mentorship and a sense of community,” Finlayson said.

“By bringing diverse perspectives together, these forums help bridge the gap between policy, research and practice, ensuring that solutions are relevant and accessible to those working on the ground. They also provide opportunities for women to share experiences, learn from peers, expand their networks and develop the confidence and skills to lead within their communities and businesses.”

Above all, she emphasised that the leadership of women in agriculture matters, regardless of the scale of their operations.

“By recognising and investing in women's contributions, we can build a more innovative, resilient and prosperous agriculture sector. When women are empowered to participate and lead, the benefits extend far beyond individual farms or businesses, strengthening food systems, rural communities and sustainable development for all,” Finlayson added.

Renee Deschamps, chargée d’affaires at the Australian Embassy in Vietnam, noted that the future of agriculture depends on cooperation and the full realisation of women's potential.

She noted that women's contributions to rural livelihoods are increasingly recognised, while expanding their opportunities to participate in economic activities can help drive growth and strengthen community resilience.

“As global agriculture faces mounting challenges, particularly the impacts of climate change, ensuring that women have opportunities to participate in and contribute to the sector's development is a matter of equality, it also brings tangible economic benefits. Women can drive innovation, contribute to food security, and improve production efficiency in rural areas,” said Deschamps.

“Australia has considerable experience in supporting women to lead farms and drive sustainable transformation and innovation in agriculture. These experiences can offer valuable lessons for Vietnam, from farm production and livestock farming to models that combine agriculture with tourism,” she added. “Models in localities such as Son La demonstrate how empowering women can deliver positive outcomes for livelihoods and local economic development.”

Cressida Cains, president of Australian Women in Agriculture. Photo: Australian Embassy in Vietnam

From the perspective of those working directly in agriculture, Cressida Cains, president of Australian Women in Agriculture, argued that the distinctive nature of agricultural production and the leadership roles required within the sector need to be fully understood.

One point Cains particularly explained was the distinction between nominal participation and meaningful contribution.

“Women's presence at meetings or membership in a cooperative is not enough to demonstrate that they have been empowered. Without opportunities to express their views, participate in decision-making, or influence collective activities, their presence is unlikely to bring about meaningful change,” Cains said. “Networks can open up new opportunities for cooperation and development, but participation alone should not be regarded as the ultimate measure of success. What matters more is whether women are heard, have a voice in decisions, and can translate their knowledge into tangible improvements in production and business activities.”

Drawing on this experience, Cains proposed three approaches for policymakers.

“First, we need to change the way we listen to identify whose knowledge and experience may have been overlooked. Second, rather than focusing solely on individuals, we need to examine the mechanisms and incentives within the system that enable more people to participate and develop. Third, initiatives should aim to change the choices available to women in practice, thereby expanding their access to resources and opportunities to participate in the sector's development,” she said.

In Vietnam, women's role in agricultural development is evident in the operations of cooperatives, where they are involved in production as well as production planning, governance, and market development.

Ban Thi Ngan, director of Hop Phat Organic Cooperative, said women could take an active role in production planning and cooperative governance, enhancing product value and building brand recognition. Careful selection of raw materials, consistent product quality, and the ability to meet consumer expectations are also essential to establishing agricultural products in the market.

Ban Thi Ngan, director of Hop Phat Organic Cooperative. Photo: Australian Embassy in Vietnam

According to Ngan, when equipped with appropriate knowledge, technology, and resources, women can better unlock the potential of their communities while contributing to the development of sustainable production models.

“Success is not measured solely by revenue or the number of products sold. It also means that people have better livelihoods, local agricultural products gain recognition, and women feel confident in contributing to the development of their families and communities,” she said.

“To create more opportunities for women in agriculture to connect, exchange experiences, and support one another, I propose establishing an association or organisation for women farmers in Vietnam. Such a network could help women access information, share production and business practices, expand market connections, and contribute to building an ecosystem that supports collective development.”

Australia and Vietnam deepen economic cooperation Australia and Vietnam have agreed to strengthen cooperation across education, trade and innovation, to enhance the Comprehensive Strategic Partnership between the two countries.

The event was organised by the Ho Chi Minh City Centre for the Fourth Industrial Revolution in coordination with the Consulate General of India in Ho Chi Minh City.

Vietnam-India Future Technology Forum was held as part of AEF 2026. Photo: Ho Chi Minh City People's Committee

Nguyen Manh Cuong, Vice Chairman of Ho Chi Minh City People’s Committee, explained that as AI, semiconductors, digital infrastructure, and automation reshape production, governance, and market connectivity, competitive advantage no longer depends solely on access to technology. More importantly, it rests on the ability to research, absorb, master, and apply technology to address specific development challenges.

“No country, city, or business can develop all its technological capabilities independently. International cooperation therefore plays an important role in connecting knowledge, resources, and markets, enabling all parties to build technological capabilities and create new development value,” Cuong said.

He proposed three areas of cooperation to leverage the strengths of Indian partners while addressing Ho Chi Minh City’s practical development needs.

The first priority is to develop high-quality technology talent. The city seeks to strengthen links between universities, research institutes and businesses in both countries to train technology specialists, develop digital skills, promote academic exchanges, and implement training programmes linked to practical projects.

The second is to encourage technology research, application, and transfer, with the city’s development needs serving as the starting point. Priority areas include AI, public digital infrastructure, semiconductors, smart manufacturing, and applications for urban governance, logistics and environmental management.

The third is to connect innovation ecosystems and promote technology commercialisation. Ho Chi Minh City aims to harness the roles of government agencies, businesses, research institutions, universities, startup support organisations, and investors to turn technological ideas into products, services, and business models that directly enhance corporate competitiveness and support the emergence of new industries.

During a discussion on translating strategic priorities into development cooperation, Vietnamese and Indian experts focused on opportunities to connect research, training, technology application, and commercialisation.

One proposed initiative is to establish a technology and talent cooperation network linking educational institutions, research institutes, incubators, and businesses in both countries. In the initial phase, the parties will explore a training model for 20–30 participants annually, lasting six to nine months and combining professional mentoring, project work, and opportunities to access international markets.

In semiconductors and smart manufacturing, the programme proposes developing two to three specialised training modules covering chip design, embedded systems, automation, and industrial AI, with training linked to laboratory work and businesses’ practical needs.

For AI and public digital infrastructure, the parties aim to select two to three priority application areas for pilot implementation. These initiatives are intended to improve public service quality, business capabilities, and people’s access to services, while ensuring data safety and cybersecurity.

Another proposed area of cooperation is the application of remote sensing, geospatial data, and AI in urban planning, environmental management, climate change adaptation, seaport development, and logistics. The programme envisages selecting a practical challenge facing Ho Chi Minh City for a pilot project, with its effectiveness and potential for wider application to be assessed.

Representing India, Ajit Kumar, director general of India’s Ministry of Electronics and Information Technology, highlighted the potential for bilateral cooperation as the two countries mark the 10^th anniversary of their Comprehensive Strategic Partnership.

"The complementary strengths of Vietnam and India provide a favourable foundation for advancing innovation in AI, national digital infrastructure, semiconductor design, and 6G networks, while helping to build more resilient supply chains," said Kumar.

Kumar further explained the need to strengthen links between research institutes and businesses, promote startup exchange programmes, implement joint projects, and share expertise.

"Cybersecurity and human resource development are also important factors in expanding technology cooperation over the long term," he added.

The new cooperation programmes are expected to leverage each side’s strengths, encourage inclusive development, and deliver tangible benefits to businesses and individuals in both Vietnam and India.

The Vietnam-India Future Technology Forum aims to identify three to five priority cooperation initiatives and consider selecting one or two pilot projects with suitable partners, scope, and resources for implementation over the next 12–24 months.

Within 30 days of the forum, the parties are expected to consolidate the discussion outcomes, agree on points of contact, and develop work plans for the initiatives of interest. A medium-term coordination mechanism will also be explored to monitor progress, evaluate results, and gradually translate cooperation priorities into specific programmes and projects.

Delegates at the event. Photo: Ho Chi Minh City People's Committee

Autumn Economic Forum 2026 highlightes cooperation in a new era The 2026 Autumn Economic Forum has opened in Ho Chi Minh City, bringing together more than 1,500 domestic and international delegates to discuss how new global growth poles are converging amid a spirit of cooperation.

Open Innovation Day 2026: Building the next-generation industrial city Open Innovation Day 2026, “Building the Next-Generation Industrial City,” took place in Ho Chi Minh City on October 26, launching a series of activities under the 2026 Autumn Economic Forum.

CEO 500 opens up cooperation opportunities in FDI and technology On the afternoon of October 26, as part of the Autumn Economic Forum, the CEO 500 programme was held to provide a platform for dialogue between Ho Chi Minh City leaders, ministries and agencies, and the international business community.

From opening up development tools to fostering collaboration across an open and thriving developer ecosystem, iFLYTEK remains committed to innovation in foundational technologies, working alongside developers to turn technological breakthroughs into broader societal value.

This year's iFLYTEK Developer Competition attracted 52,120 teams from 351 cities across 15 countries, setting a new participation record. Turning more creative ideas into practical applications requires not only lowering barriers to development but also streamlining the entire process from development to delivery.

Liu Qingfeng said that every advance in AI technology requires a shared commitment to the mission of driving industrial progress. He called for closer collaboration with developers to bring AI into practical use across education, healthcare, the automotive industry, and other sectors. By bringing together individual sparks of innovation to ignite a broader wave of progress, he said, the developer community can help build a better world with artificial intelligence.

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• In the ironmaking stage, AI makes traditionally invisible blast furnaces transparent. YuanYe leverages blast furnaces' internal sensor data and metallurgical mechanism analysis to perform real-time dynamic simulations of the ironmaking process. Assisted by furnace temperature prediction and health diagnosis models, furnace operators can predict temperatures and identify issues two hours in advance, with over 90% accuracy. This shifts furnace operations from reactive post-event remediation to proactive pre-control, increasing prime-grade molten iron yield by over 10% while significantly cutting unit energy consumption.
• In the rolling stage, AI drives precise predictions and codifies expert experience to enhance the operational stability of steel rolling and secure leadership in product quality. To tackle the highly dynamic and complex operating conditions during the rolling process, YuanYe's rolling-force prediction model achieves millisecond-level response, narrowing the thickness tolerance to ±0.2 mm and reducing the steel thickness deviation to 1.9% to reach a world-leading standard. The rolling-force hit rate has jumped from 88% to 98%, supporting a steady annual output of over 2.5 million tons of steel plates and increasing the overall yield rate by 0.5%. Enhanced dimensional precision and physical-chemical stability allow NISCO's products to meet demanding steel specifications across diverse applications, ranging from mega stadiums and oil pipelines to 10,000-ton cruise ships and LNG storage tanks.

• In quality inspection, the synergy between robots and AI models serves as a discerning "eagle eye", doubling metallographic inspection efficiency. During metallographic inspection for finished steel, the integrated smart metallographic inspection system built on YuanYe has achieved full-process automation, covering sample grinding and polishing, image acquisition, and smart grading. Inspection accuracy has risen to over 95%, while per-sample inspection time has been shortened from 10 minutes down to 3–5 minutes. This 80% increase in overall inspection efficiency frees human operators to focus on anomaly analysis and high-level decision-making.
• In the energy and environmental control stage, NISCO leverages the YuanYe architecture to develop the S-Link Intelligent Agent for Gas and Flue Gas Sulfur Control. Integrating 602 process parameters alongside multi-modal image and knowledge capabilities, the agent achieves a smart closed loop across source prediction, process optimization, and end-of-pipe compliance. By combining mechanism inversion with time-series forecasting, it issues precise sulfur-risk warnings one hour in advance, achieving a sulfur prediction accuracy of over 95%. Operational optimization algorithms then calculate the optimal gas blending scheme within seconds. Finally, game-theoretic models dynamically allocate emission quotas, slashing natural gas co-firing consumption by nearly 50%. This has reduced downtime caused by emission exceedance by over 25%, and delivered more than CNY600,000 (approx. US$90,000) in annual economic benefits—securing both environmental compliance and drastic cost reduction.

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Facing a multitude of products on the market—ranging from the Voluntary Health Insurance Scheme (VHIS) and life insurance to critical illness insurance and general insurance—HK Insurance Hub employs AI technology for deep semantic analysis and content restructuring. The system automatically filters out information blind spots and presents hidden clauses, claim conditions, and coverage scopes in a structured format, effectively eliminating public misconceptions and information gaps regarding insurance products.

"Many citizens miss out on the protection they deserve simply because they cannot understand insurance terms. This has always been a key pain point that insurance education aims to resolve," noted a spokesperson for HK Insurance Hub. "With the help of AI, we can translate professional insurance knowledge into practical, easy-to-understand guides in the most objective and down-to-earth manner, effectively enhancing public risk management awareness."

The rollout of this AI content optimization initiative marks a key step for Hong Kong's insurance information platforms toward smart and refined development. HK Insurance Hub will continue to leverage technology to popularize insurance knowledge, helping every Hong Kong resident plan for the future with peace of mind.

Participants exchanged practical experience in green development and global contributions by Chinese and international companies. The seminar aimed to build consensus, promote practical cooperation and further advance green development and mutual learning among civilizations in the lead-up to APEC Economic Leaders' Week in Shenzhen in November 2026.

Speakers included Guo Weimin, President of the China Public Relations Association; Robert Lawrence Kuhn, Chairman of The Kuhn Foundation (USA); Sha Hailin, President of the Shanghai Public Relations Association; and representatives from the Guangdong and Shenzhen government information offices.

More than 100 representatives from state-owned and private Chinese enterprises, multinational companies, research institutions, universities and media organizations attended the seminar. They discussed new approaches to cooperation on global ecological conservation and green development.

Climate governance, ecological conservation, and the green and low-carbon transition have become shared global priorities. Ping An remains committed to green development and continues to advance efforts toward China's carbon peaking and carbon neutrality goals. The Group integrates green development into its corporate strategy, business operations, technological innovation and external partnerships. It also actively participates in ecological restoration and biodiversity conservation and promotes the exchange of green technologies and experience across the Asia-Pacific region.

Empowering Green Development Through Finance and Advancing Biodiversity Conservation

At the seminar, Sheng Ruisheng, Board Secretary and Brand Director of Ping An Group, delivered a presentation titled "Living in Harmony with Nature: Ping An's Approach to Biodiversity Conservation." He shared Ping An's efforts to integrate green development principles into financial services, ecological conservation and public participation.

Sheng said Ping An remains committed to sustainable development and fully leverages its integrated financial capabilities to connect risk protection, public welfare initiatives and industrial development. Through a range of innovative measures covering urban environments, wetlands, rural areas, and ancient and notable trees, the Group is deeply engaged in biodiversity conservation.

Making buildings more migratory bird-friendly. Shenzhen lies along an important migratory bird route, where reflective glass façades can increase the risk of bird collisions. Ping An installed white dot-patterned anti-collision decals on Ping An Finance Center to make the glass more visible to birds and help reduce the risk of collisions.

Protecting wetland ecosystems. In 2023, Ping An established China's first charitable trust dedicated to mangrove ecological conservation. In March 2026, Ping An contributed an additional RMB950,190 to launch a demonstration project in Shenzhen Bay focused on key species protection, ecological conservation and nature education. The Group also launched a public welfare initiative to protect migratory bird habitats, inviting customers to participate in wetland conservation.

Balancing ecological conservation with industrial development. To support both conservation and local economic development, Ping An has introduced flower price index insurance and full-cost coffee insurance designed to help stabilize farmers' incomes, alongside credit, technology, production and sales support. The Group also provides public welfare insurance for wild mushroom poisoning, with RMB50 million in annual coverage. The program has provided assistance on 378 occasions to date.

In Gaoyou, Jiangsu Province, Ping An worked with the local forestry authorities to launch China's first rescue insurance policy for Oriental storks, successfully implementing an "insurance + rescue" funding model.

Protecting ancient and notable trees. Ping An provides risk protection for 80,000 ancient trees across China, with total coverage reaching RMB1.26 billion. In addition to insurance coverage, the Group has launched innovative public welfare programs combining ancient-tree conservation with specialty cultural tourism and youth health initiatives, helping preserve these centuries-old elements of China's natural heritage.

Taking Ping An's ecological conservation solutions global. Ping An is exploring full-cycle risk protection for Laos' rubber industry to support local ecological restoration and industrial development. The initial pilot is planned to cover approximately 1,200 hectares (18,000 mu), with estimated insurance coverage exceeding RMB54 million.

Ping An Unveils New Biodiversity Conservation Plan and Establishes Dedicated Egret Rescue Fund

During the seminar, participating institutions and companies presented the Joint Initiative on Ecological Conservation and Green Development by Chinese and Foreign Enterprises. The initiative sets out five priorities: putting ecology first, empowering development through innovation, promoting open collaboration, strengthening green communications, and encouraging multi-stakeholder participation. It calls on Chinese and international companies to work together to safeguard the coexistence of all living things and contribute to building an Asia-Pacific community.

As part of the initiative, Ping An announced a new biodiversity conservation plan aimed at protecting more rare and endangered species.

Chen Yao, General Manager of Ping An Group's Brand Communications Department, introduced two major initiatives under the plan.

First, Ping An will launch a dedicated conservation initiative for the Przewalski's gazelle, a species endemic to China. Found only around Qinghai Lake, the species faces significant conservation challenges and is listed as a Class 1 nationally protected wild animal in China.

The Group continues to work closely with conservation authorities across China. Through its agricultural drone program, Ping An Property & Casualty is providing drones to support wildlife population monitoring and habitat patrols across a 161-square-kilometer protected area, helping conservation teams identify injured wildlife and habitat disturbances while reducing frontline workloads.

Second, the Group is launching a comprehensive egret rescue program. Ping An has established a dedicated rescue fund for the Egret Garden at Sinopec Zhenhai Refining & Chemical Company. The fund will support professional organizations in rescuing eggs and chicks that require human intervention, treating injured or sick egrets, and providing care for injured migratory birds identified through the site's scientific monitoring program.

Ping An said biodiversity conservation is an important aspect of green development and concerns every individual, every family and every company. By fully leveraging its distinctive "insurance + technology" capabilities, the Group is helping protect the planet's rich diversity of life.

Looking ahead, Ping An hopes to work with stakeholders across society to advance biodiversity conservation and realize the shared vision of harmonious coexistence between people and nature.

For more information, please visit the www.group.pingan.com

Held October 19–21 at INSPIRE Entertainment Resort in Incheon, South Korea, the triennial congress brought together direct selling industry leaders from around the world. As a Platinum Sponsor, RIMAN showcased its flagship brands, including ICD, botalab, and Lifening, alongside its proprietary ingredient, Giant BYoungPool™. RIMAN Founder and Chairman Joong Hyun Ahn spoke at the "Korea Market Spotlight: Innovation Builds. People Transform." session, sharing RIMAN's growth story built on proprietary ingredients, R&D capabilities, and people-centered leadership.

Building on the congress, RIMAN hosted the "RIMAN JEJU EXPERIENCE," an exclusive brand immersion program designed to offer international direct selling industry leaders firsthand insights into the company's proprietary ingredients, R&D capabilities, and brand philosophy. Held from October 22–24 on Jeju Island, the program welcomed 24 industry representatives from nine countries, including France, Germany, China, and Singapore.

Participants explored RIMAN's value chain, from ingredient cultivation to research and product development. At RIMAN FARM, a smart farm cultivating Giant BYoungPool™, a proprietary variety of Centella asiatica, they learned about its cultivation and RIMAN's ingredient research. They also stayed at RIMAN VILLAGE, a branded resort built by RIMAN exclusively for its distributors, experiencing Lava BYoungPool spa treatments and RIMAN's beauty and wellness products.

"Witnessing the advanced technology and ingredient research firsthand strengthened my confidence in RIMAN's products," one participant said.

Frédéric Billon, Executive Director of the French Direct Selling Association (FVD), also praised RIMAN's approach, saying, "Managing everything from raw ingredients to finished products is a smart strategy that positions RIMAN to lead the future beauty market, driven by sustainability."

"The WFDSA World Congress and RIMAN JEJU EXPERIENCE showcased our proprietary ingredients and R&D capabilities," said Youngsu Hwang, Chief Sales Officer of RIMAN. "We were especially pleased by participants' positive responses to our product development process and employees' dedication. We will continue strengthening our global connections and position as a trusted K-beauty brand."