Also attending the meeting were Swiss Ambassador to Vietnam Pietro Lazzeri, representatives of the Swiss Agency for Development and Cooperation, the Swiss Business Association, and leaders of investment funds, insurance institutions, and major Swiss corporations.

Deputy Minister Can warmly welcomed the delegation and praised the positive contributions made by Switzerland’s Federal Department of Economic Affairs, Education and Research to strengthening economic, trade, investment, and development cooperation between the two countries.

The MoF viewed the meeting as an opportunity to discuss key areas of cooperation, particularly negotiations and the signing of a new Bilateral Investment Protection Agreement, as well as directions for more effective development cooperation programmes.

State Secretary Helene Budliger Artieda emphasised the central role of the private sector in Switzerland’s development model.

She described Swiss investment in Vietnam as “smart investment,” characterised by a high level of innovation and closely linked to technology transfer and the development of a highly skilled local workforce.

Regarding the new Bilateral Investment Protection Agreement, which is intended to replace the agreement signed in 1992, Deputy Minister Can said that both sides had made significant progress on its scope of application, investment protection standards, and investor-state dispute settlement mechanisms.

State Secretary Artieda outlined proposals to update the agreement in line with modern standards, including provisions on sustainable development, responsible business conduct, and anti-corruption.

Photo: Duc Minh

Deputy Minister Can proposed that negotiations continue in a spirit of cooperation and mutual respect to reconcile the interests of both sides. The two parties are expected to hold direct negotiations on October 30, 2026, to narrow their remaining differences.

Ambassador Pietro Lazzeri stated that Vietnam was a top priority in Switzerland’s economic development policy. Over the past 25 years, Swiss development assistance to Vietnam has not only increased in value but has also shifted significantly towards trade and investment cooperation.

Since 1992, Switzerland has provided nearly CHF 630 million ($765 million) in official development assistance to Vietnam, equivalent to approximately $690 million.

For 2025-2028, the Swiss government has committed to providing approximately CHF 45-55 million ($55-67 million) in non-refundable aid, focusing on three main pillars: sustainable trade and innovation; sustainable public finance and private-sector finance; and climate-resilient industry and agriculture, alongside urban development.

Switzerland has also pledged to continue supporting Vietnam in its efforts to achieve net-zero emissions by 2050, become a high-income country by 2045, and align with the standards of the Organisation for Economic Co-operation and Development.

To deepen financial cooperation, Deputy Minister Can proposed several priority areas for collaboration in the coming period.

Expanding investment in key sectors: Switzerland is encouraged to increase investment in banking and finance, high technology, biotechnology, clean energy, and the green transition, while supporting Vietnamese businesses in integrating more deeply into global value chains.

Cooperation in developing an International Financial Centre (IFC): Vietnam hopes Switzerland will share its experience in capital market management, green finance, and fintech, while encouraging Swiss financial institutions to participate in developing Vietnam’s IFC.

Strengthening trade and investment promotion: Both countries will seek to enhance connections between their business communities while facilitating opportunities for Vietnamese companies to explore investment prospects in Switzerland.

Photo: Duc Minh

Vietnam’s MoF reaffirmed its commitment to supporting Swiss investors and providing a favourable, transparent business and investment environment. Relevant departments will work closely with the Swiss Embassy to translate potential areas of cooperation into concrete initiatives in the coming period.

As of the end of September 2026, Switzerland had 244 active investment projects in Vietnam, with total registered capital of approximately $2.5 billion, ranking 20^th among the 150 countries and territories investing in Vietnam.

Around 89 per cent of this investment was directed towards manufacturing and processing, while Swiss capital was also expanding into wholesale and retail trade and real estate across 17 key cities and provinces. Several Swiss multinational corporations, including Nestlé, Roche, and MSC, have established successful operations in Vietnam.

Switzerland approves joint declaration with Vietnam On June 12, the Swiss Federal Council approved the adoption of a joint declaration setting out the foundations of a comprehensive partnership between Switzerland and Vietnam, with a view to strengthening bilateral relations.

Vietnam invites Swiss investors to join international financial centre Deputy Prime Minister Nguyen Van Thang has chaired a business dialogue in Zurich to promote Vietnam's investment opportunities in finance and high technology.

Switzerland's Jakob Rope Systems expands manufacturing in Vietnam Swiss group Jakob Rope Systems is expanding its production site in Vietnam to create additional production and storage capacity, improve manufacturing efficiency, and lay the foundation for continued growth.

The acquisition marks CJ Logistics' first expansion in Dong Nai, one of southern Vietnam's key logistics hubs, strengthening its warehousing capacity and nationwide operational network. As of the second quarter, Dong Nai accounted for approximately 32 per cent of the total ready-built warehouse supply in the Southern Key Economic Region.

The province continues to advance planning initiatives, investment procedures, and infrastructure development to enhance its investment attractiveness, while demand for vacant industrial land remains stable. Factory leasing demand increased by 4 per cent on-year, while warehouse occupancy remained strong, with 88.4 per cent absorption of existing supply.

Benefiting from Dong Nai’s strategic location and rapidly improving infrastructure, Daiwa House’s facility offered strong advantages aligned with CJ Logistics’ expansion plans.

The property is located approximately 20 minutes from the new Long Thanh International Airport, 60 minutes from Ho Chi Minh City Center, 40 minutes from Cat Lai Port, and 60 minutes from Tan Cang Cai Mep – Thi Vai Port. It also enjoys convenient access to Ho Chi Minh City, neighbouring industrial clusters such as Binh Duong and Ba Ria – Vung Tau, and northern provinces via the North-South Expressway network.

The transaction was done by Cushman & Wakefield who had supported both parties across market and project assessment, negotiations, due diligence and the fulfilment of transaction conditions.

Thanh Nguyen, manager, Industrial and Office Services at Cushman & Wakefield Vietnam, believes Dong Nai’s logistics market is entering a phase of substantial growth, driven by economic growth, domestic consumption, significant infrastructure investment and strong connectivity.

“The province is emerging as a new growth catalyst for Southern Vietnam. We are seeing a noticeable shift in demand within Vietnam’s industrial and logistics market, with growing interest from end-users in acquiring existing, high-quality facilities rather than solely leasing space or acquiring land for development. This trend reflects increasing demand for assets that are already operational and/or capable of generating cash flow in the near term,” said Thanh.

Representatives from Cushman & Wakefield, Daiwa House, and CJ Logistics at the completion of the logistics warehouse transaction in Long Duc Industrial Park. Photo: C&W Vietnam

Gemadept is going regional with CJ Vietnam’s leading port and logistics firm Gemadept Corporation recently elaborated on its partnership with CJ Logistics and revealed its plans to go regional.

Gemadept and CJ Logistics optimise strategic partnership for development On March 30, Gemadept and CJ Logistics agreed to implement a strategic optimisation of logistics and shipping operations to leverage the competitive advantages of both companies.

Nominations will run from October to December, with the award retaining its six categories: vocational training, environmental sustainability, community development, technology and science for communities, balanced lifestyle and community wellbeing, and arts and culture for communities.

Provincial and municipal VFF committees are responsible for coordinating nominations, following a call from the VFF Central Committee’s standing committee for local bodies and member organisations to nominate individuals who have made outstanding contributions to their communities.

The 2026 Ambassadors of National Progress Award was launched in Hanoi on October 16. Photo: SABECO

Of the nominated candidates, 150 will advance to a public voting round, with 15 ultimately selected as award recipients. The final assessment will combine the selection committee's evaluation, accounting for 70 per cent of the result, with public votes contributing the remaining 30 per cent. Voting will be available through SMS and the award's microsite.

The expanded scope is intended to bring greater visibility to individuals and initiatives whose contributions may have received limited public recognition, while encouraging participation across generations and fields of community development.

Speaking at the launch ceremony on October 16 in Hanoi, Tan Teck Chuan Lester, general director of Saigon Beer-Alcohol-Beverage Corporation (SABECO), said Vietnam's progress was rooted in perseverance and community spirit, alongside a willingness to learn and adapt.

“What continues to inspire us about Vietnam is the way people keep moving forward - with perseverance and a strong commitment to community, but also with ingenuity, curiosity and an openness to learn, adapt and try new ways,” he said.

He added that younger generations were bringing fresh ideas and approaches to community development, making it important to recognise contributions emerging from different fields and age groups.

Tan Teck Chuan Lester, general director of SABECO. Photo: SABECO

Cao Xuan Thao, vice chairman of the VFF Central Committee, said recognising exemplary individuals and good deeds at grassroots level could encourage public participation in national development and strengthen solidarity.

Thao also stressed that objectivity and fairness would remain central to the nomination and evaluation process. “We will ensure objectivity, fairness and professional standards throughout the nomination and evaluation process at all levels,” he said.

First introduced in 2025 as part of SABECO's celebrations marking its 150-year brewing legacy, the award returns in 2026 with broader geographical coverage and additional voting options.

SABECO said its participation reflected its commitment to growing alongside Vietnam under the theme 'Vietnam Together, Thrive as One'.

Established more than 150 years ago, SABECO operates 26 breweries and a distribution network reaching hundreds of thousands of retailers nationwide. Its principal brands include Bia Saigon, Bia 333, and Bia Lac Viet.

According to the company, its product portfolio has received nearly 80 international awards since 2019. In 2026, Bia 333 was named Vietnam Country Winner – Lager at the World Beer Awards and won silver at the Australian International Beer Awards. Bia Saigon Export Premium and Bia Lac Viet received gold at the World Beer Championships in the United States, while Bia Lac Viet also won gold at the International Beer Challenge in the United Kingdom, where SABECO was named Brewer of the Year – Asia.

SABECO wins multiple international beer awards SABECO has picked up multiple international beer awards, supporting its push towards premiumisation as analysts point to early gains from product upgrades and market diversification.

SABECO turns green commitments into measurable gains As net-zero ambitions increasingly shape corporate competitiveness, SABECO is translating ESG commitments into measurable operational gains across energy, water, packaging, supply chains and governance.

SABECO strengthens community ties through Bia Saigon partnership SABECO's Bia Saigon brand is strengthening its community engagement through a strategic partnership with Fatherland in Our Hearts 2026, connecting with major cultural and sporting platforms nationwide.

At a discussion on shaping talent in the 4.0 era in Hanoi on October 8, Ngo Thi Ngoc Lan, managing director of Navigos Search, said that employers hiring experienced professionals tend to prioritise technical expertise and relevant work experience. For fresh graduates, however, the priorities are different.

“Attitude is what employers expect most from young people. They want to know whether you are willing to stay and grow with the company. Businesses are struggling with young employees who join and leave after just a few days, before they have learnt or contributed much,” she said.

Resilience is another quality that employers increasingly value. Lan noted that some young employees tend to withdraw when confronted with difficult assignments or unexpected problems, rather than working through challenges and seeking solutions.

Time management, meanwhile, reflects an employee’s ability to plan, prioritise, and honour commitments. “You may not have enough time to do everything, but you should have enough time to do the most important things,” she said.

These observations are supported by the 2026 Vietnam Employability Report, released by British University Vietnam in collaboration with research firm Decision Lab in early October. The study surveyed 375 domestic and international companies about their recruitment decisions for fresh graduates.

The report assessed seven capability areas and found that employers considered all seven important, with between 74 and 86 per cent rating each as important. Yet graduates fell short of expectations in six of the seven areas.

Time management recorded the widest gap, at 26 percentage points, followed by problem-solving at 23 percentage points. Communication and adaptability showed gaps of 12 and 11 percentage points, respectively. Digital literacy was the only area in which graduates exceeded employers’ expectations, by three percentage points.

The findings suggest that the challenge extends beyond academic knowledge. Employers need graduates who can apply what they have learnt to real-world situations, coordinate with colleagues, take responsibility for their work, and make decisions when information is incomplete or circumstances change.

For Le Quoc Vinh, chairman and CEO of Le Group, who has spent more than two decades recruiting and managing employees, said differences in attitudes and behaviour between generations have become increasingly apparent.

"Limited exposure to workplace environments can make it harder for young people to understand organisational culture and integrate into established teams. Familiarity with professional expectations needs to be developed through practical experience rather than acquired solely through classroom learning," he said.

At Le Group, Vinh encourages interns to seek as many opportunities for workplace experience as possible. Academic qualifications and professional knowledge remain important, but an employee’s ability to adapt to the organisation and understand its values also matters.

“Recruitment depends significantly on whether candidates can fit into and understand the working practices and cultural values of the company,” Vinh said.

However, Nguyen Thi Thu Anh, member of the National Council for Education and Human Resource Development, cautioned against generalising these shortcomings to an entire generation.

"Many young people demonstrate considerable creativity, initiative, and a strong sense of responsibility," Thu Anh said.

She pointed to schools and universities that increasingly use project-based learning and problem-solving assignments to encourage students to take ownership of their work. Such approaches can strengthen independent learning and equip students to handle complex situations.

“I do not think all young people lack problem-solving skills or responsibility, or are ready to leave their jobs at the first difficulty,” she said. "Nevertheless, young workers can be sensitive to setbacks and may be more inclined to leave when workplace experiences fail to meet their expectations. This makes it important to help students develop the resilience needed to navigate the demands of working life."

Bridging the employability gap requires closer cooperation between universities and employers, particularly while students are still studying. Yet, the British University Vietnam report indicates that collaboration remains concentrated on recruitment and internships, rather than the design and delivery of education.

Although 59 per cent of surveyed employers take on student interns, only 15 per cent contribute to curriculum design, while 23 per cent do not collaborate with any university.

Vinh acknowledged that businesses must take greater responsibility for this gap. Employers often criticise universities for failing to produce graduates who meet their needs, yet may do little to help institutions understand those needs or prepare students accordingly.

“Businesses cannot simply wait for universities to produce the people they want and then recruit the best candidates. They also need to contribute to the education and training process,” he said.

He suggested that universities take a more proactive approach by approaching companies with specific proposals for collaboration. Clear requests for industry feedback, practical projects, and input into training programmes could make it easier for businesses to participate.

Thu Anh agreed that the policy framework already places considerable emphasis on connecting education with practical needs. The challenge lies primarily in implementation.

"Universities should actively engage businesses to understand the competencies expected of graduates and use that feedback to refine curricula, teaching methods, and assessment. Employers, in turn, must be willing to invest time and expertise in supporting students," she said.

Vietnam highlighted in best alternative study abroad destinations Global student mobility is undergoing a notable shift, with Vietnam emerging as an increasingly attractive destination for international students.

AI beginning to reshape recruitment criteria Digital literacy is the only capability area in which fresh graduates meet employers’ expectations, according to a new report. Yet, it is also the standard rising fastest, as businesses increasingly expect new hires to use AI effectively in the workplace.

The agreement was signed on October 18 in the presence of Party General Secretary and State President To Lam, with Minister of Industry and Trade Le Manh Hung and representatives of the European Free Trade Association (EFTA) member states formally signing the Vietnam-EFTA Free Trade Agreement (VEFTA).

The EFTA representatives included Guy Parmelin, President of Switzerland and Head of the Federal Department of Economic Affairs, Education and Research; Brigitte Haas, Prime Minister and Minister of Finance of Liechtenstein; Þorgerður Katrín Gunnarsdóttir, Minister for Foreign Affairs of Iceland; and Astrid Bergmål, State Secretary at Norway's Ministry of Foreign Affairs.

The signing marks an important milestone in relations between Vietnam and EFTA, whose member states are among the world’s leading innovators. It also reflects both sides’ determination to strengthen economic cooperation, promote free trade, and reinforce the rules-based trading system amid continued global economic uncertainty.

The VEFTA covers a comprehensive range of commitments across key areas, including trade in goods (covering tariffs, technical barriers to trade, sanitary and phytosanitary measures, customs, and trade remedies), trade in services, investment, intellectual property, government procurement, competition, small and medium-sized enterprises, dispute settlement, and trade and sustainable development.

With its broad scope and diverse areas of cooperation, the agreement is expected to create new opportunities for Vietnam to diversify its export and import markets, enhance business competitiveness, and participate more deeply in global value chains. It is also expected to attract high-quality investment, advanced technologies, and management expertise from leading European economies.

Economic, trade, and investment relations between Vietnam and EFTA member states have continued to develop positively, with bilateral trade averaging nearly $2 billion annually. The two sides have highly complementary trade structures, reflecting their respective strengths and needs. Vietnam mainly exports seafood, footwear, textiles and garments, machinery and equipment, electronics, and components to EFTA markets. In return, it imports machinery, industrial equipment, chemicals, pharmaceuticals, and raw materials for production.

Investment cooperation between the two sides has also expanded. By the end of 2025, Switzerland had 234 investment projects in Vietnam, with total registered capital exceeding $2.4 billion, while Norway had 62 projects with total registered capital of more than $201 million.

Several major EFTA corporations and investors have established a presence in Vietnam and are operating effectively in sectors including industry, food, pharmaceuticals, energy, and technology. EFTA businesses and investors are also planning to cooperate on and invest in major projects in Vietnam, particularly in innovation, high technology, logistics, and precision engineering.

The VEFTA is expected to open up new avenues for cooperation and provide fresh impetus for economic growth, innovation, and sustainable development, delivering tangible benefits to people and business communities in Vietnam and EFTA member states alike.

Vietnam and EFTA conclude free trade agreement negotiations Vietnam and the European Free Trade Association have concluded free trade agreement negotiations, paving the way for expanded trade and investment ties with the four-member bloc.

Vietnam, Norway to deepen green investment, energy ties after EFTA deal Vietnam and Norway are expected to deepen cooperation in green investment, renewable energy, and carbon markets following the conclusion of the Vietnam-European Free Trade Association Free Trade Agreement.

Nguyen Thi Thu Ha, deputy head of Agribank’s Steering Committee for Environmental, Social, and Governance

Nguyen Thi Thu Ha, deputy head of Agribank’s Steering Committee for Environmental, Social, and Governance, highlighted these constraints and more at VIR’s seminar on credit policy and the carbon market last week in Hanoi. She said financing arrangements needed to reflect project viability, repayment capacity, and the timing of expected returns.

“Carbon credit revenue can supplement project returns, but it cannot be treated as a reliable source of repayment before the conditions for generating and selling those credits are established,” said Ha.

Vietnam’s shift towards lower-emission production is creating funding needs beyond equipment and technology. Businesses must also pay for project preparation, environmental monitoring, and changes to production processes, while ensuring that investments generate sufficient returns to service debt.

“The domestic carbon market remains at an early stage, making the commercial contribution of carbon credits dependent on project readiness and market development,” she added.

Vietnam has continued to develop the regulatory framework for emissions reduction and carbon market activities, including plans for a domestic carbon exchange and rules governing international carbon credit transactions. Greenhouse gas inventory requirements have also expanded. The number of covered facilities rose from 1,912 in 2022 to 2,441 in September 2026. Criteria have also been expanded for identifying green projects, including circular economy activities.

However, meeting environmental requirements does not in itself make a project commercially viable or eligible for bank financing. Businesses may still need feasibility studies, technical assessments, environmental monitoring systems, and agreements covering production, purchasing, and the distribution of financial benefits.

In agriculture and rural development, low-emission rice cultivation, livestock waste treatment, sustainable forestry, and biomass utilisation require funding at different stages of the value chain. Financing must account for the needs of farmers, cooperatives, and processors, as well as seasonal production cycles, market access and operating costs.

Across the value chain

Green projects require funding at several stages, from feasibility studies and environmental assessments to equipment, working capital, monitoring, and compliance. For small producers, the cost of preparing a project can be a barrier before any return is generated. Once operations begin, maintenance and verification add to expenditure, while purchasing and processing businesses need capital to handle agricultural output.

For that reason, Ha emphasised the need to align financing with project costs and cash flow cycles. In agriculture, adopting new cultivation methods can increase expenses before additional income materialises, while seasonal production and delays between delivery and payment can put pressure on borrowers’ liquidity.

“Financing arrangements need to reflect the costs incurred at each stage of a project, the timing of expected cash flows and the borrower’s repayment capacity,” Ha said.

Commercial loans can finance equipment and working capital where credible repayment sources exist, while technical assistance, concessional funding, and guarantees may help cover project preparation costs or address specific risks.

The source of repayment is particularly important for projects that expect to earn carbon credit revenue. Reduced energy and material consumption can lower operating costs directly, but income from carbon credits depends on project eligibility, verification, buyer demand, and payment terms.

“Businesses cannot treat carbon credit revenue in the same way as savings from reduced energy or material consumption. Income from credits depends on whether emissions reductions can be verified and the credits sold,” she added.

Agribank’s existing agricultural lending provides a channel for financing investment in lower-emission production, according to Ha. By mid-2026, the bank’s assets exceeded $108 billion, deposits surpassed $100 billion and outstanding loans topped $80 billion. At the end of August, lending to agriculture, farmers, and rural areas exceeded $53.6 billion, equivalent to 64.7 per cent of total outstanding loans.

She also outlined the bank’s reach among smaller borrowers. As of July 31, Agribank’s more than 58,000 lending groups comprised over 910,000 members, with total loans exceeding $8.64 billion.

“These established lending relationships could provide a route to identifying farmers and cooperatives seeking to invest in resource efficiency or emissions reduction. However, such projects would still need to meet the bank’s lending requirements, including those relating to project readiness and repayment capacity,” Ha shared.

Agribank’s green credit programmes provide further funding channels. Its green credit portfolio stood at nearly $1.2 billion at the end of March. For the year, the bank has allocated $120 million to a programme targeting individual customers and $2 billion to clean and high-tech agriculture. It also operates a programme worth at least $1.2 billion to support production, processing, and consumption under the Mekong Delta’s one-million-hectare project for high-quality, low-emission rice cultivation.

The rice initiative illustrates the need to coordinate financing across the agricultural supply chain. Farmers may require seasonal loans to adopt new cultivation methods, while cooperatives need equipment and working capital to coordinate production and collect data. Technical partners can provide training and support environmental measurement, while processors need funds to purchase and handle the crop.

“Financing needs to be considered across the value chain, from production and data collection to purchasing and processing,” Ha said.

Agreements covering production standards, data collection, purchasing volumes, and payment terms can clarify participants’ obligations and expected returns. Where preparation costs remain unaffordable, technical assistance or concessional funding could help cover the shortfall, allowing commercial loans to focus on investments with credible repayment sources.

Bankable projects

Bankable carbon projects depend on whether emissions reductions can generate reliable cash flow. In agriculture, this requires coordination between Agribank, technical specialists, environmental consultants, monitoring, reporting and verification providers, and potential buyers. Technical partners can help producers develop viable projects and verify results, while buyers provide access to markets for agricultural products and carbon credits.

“Banks need to work with technical and market partners to identify financing needs, address gaps in project preparation and assess whether proposed investments can generate sufficient cash flow,” said Ha.

These partnerships also help determine the type and timing of funding required. Preliminary assessments and emissions baselines may need grants or technical assistance, while equipment, infrastructure, and working capital can be financed through loans once repayment prospects are established. Guarantees may help address specific credit risks, with agreements among funding partners defining how costs and risks are shared rather than leaving farmers and cooperatives to bear the burden.

For Agribank, this approach would involve assessing projects against their technical requirements, commercial viability, and environmental performance. Existing green credit programmes and environmental and social risk management procedures provide a basis for such assessments. Initial lending pilots could cover low-emission rice cultivation, livestock and biogas, forestry, waste treatment, and biomass utilisation, allowing the bank to evaluate financing structures across different agricultural value chains.

However, extending lending to projects reliant on carbon income also depends on the legal status and financial treatment of environmental assets. “Lenders need clarity on ownership, transfer rights and the distribution of proceeds, as well as the treatment of receivables and collateral. Accounting, taxation and foreign exchange requirements also affect how future income can be assessed,” Ha added.

Alongside these legal requirements, monitoring and verification costs can weigh heavily on smaller producers. Shared data systems and group-based approaches, where permitted, could help distribute expenses, although technical support would still be needed. Even where emissions reductions are verified, the resulting credits may not generate immediate income.

“Verified emissions reductions do not necessarily translate into timely payments, as revenue depends on buyer availability, contractual terms and settlement schedules,” Ha explained.

I’m excited by the opportunity to lead Ford Vietnam and work alongside our people, dealers, and partners in a market with so much energy and potential. Vietnam is a dynamic market, and Ford has a strong foundation across vehicles like Ranger, Everest, Territory, and Transit.

What excites me most is how we build on that foundation to strengthen customer relationships, support our dealers to grow their businesses, and continue to deliver vehicles and experiences that meet the evolving needs of Vietnamese customers.

The opportunity is to build on what already works, innovative and challenge ourselves to do better, and create sustainable growth for the business. Ford Vietnam has been here for over 30 years, we have significant and proud history with proven safety, quality, and service credentials.

Annaliese Atina, newly appointed managing director of Ford Vietnam

How has your breadth of experience shaped your perspective?

Working across several sectors has given me a broad commercial perspective and taught me that while industries differ, the fundamentals of success remain consistent: understand your customer, build strong teams, execute well, and keep challenging yourself to improve.

I’ve always been curious about how businesses can do things differently and better. I bring a combination of commercial thinking, customer focus, and a bias for action. I’m comfortable challenging the status quo, making decisions, learning from experience, and bringing people together around a common goal. Ultimately, it’s about turning strategy into meaningful outcomes for customers, our dealers, and the business.

How would you describe your leadership style?

I’d describe my leadership style as collaborative, curious, and outcome-focused. I surround myself with good people, creating an environment where they can challenge ideas and contribute their best, and being clear about what we’re trying to achieve.

I’m naturally curious and like to understand the bigger picture, but I’m also pragmatic. I believe in making decisions, taking action, and being prepared to adjust when something isn’t working. As a leader, my role is to set direction, build capability, and create the conditions for people to succeed. Trust is fundamental to that, being honest, doing what you say you’ll do, and holding yourself and others accountable.

What are you eager to learn, and what would you like to build together?

I’m looking forward to getting to know our people and dealers, understanding Vietnamese customers, and learning what has made Ford successful here. I want to hear different perspectives, understand where the opportunities are, and recognise the strengths we can build on.

Together, I’d like us to continue building a strong business, one that delivers for customers, creates opportunities for our people, strengthens dealer performance, and achieves sustainable growth. I believe the best results come when people share a clear ambition, feel empowered to contribute, and have the confidence to turn ideas into action.

Which experiences have helped you develop your voice and confidence as a female leader?

I’ve learned that confidence doesn’t come from having every answer or waiting until you feel completely ready. It comes from trusting your judgement, being prepared to speak up, taking responsibility, and having the courage to step into opportunities that challenge you.

My career has taught me the value of staying curious, learning from the people around me, and backing myself, even when I’m stepping into unfamiliar territory. I’ve also learned that leadership isn’t about having the loudest voice in the room; it’s about having the conviction to make a difference and the willingness to bring others with you.

As a leader, I want people to feel they can contribute, challenge conventional thinking, and pursue opportunities based on their potential, not simply on what they’ve done before.

What encouragement would you offer women ready to explore new opportunities or leadership roles?

Put your hand up before you have every detail worked out. Don’t wait until you feel completely ready or until someone else tells you that you can do it. Be clear about your ambitions, seek out opportunities that stretch you, and surround yourself with people who will support you, challenge you, and help you grow.

I’ve built much of my own career by backing myself, staying curious, and making the most of opportunities when they came along. You don’t need to have every step mapped out, but you need the courage to take the next one and the determination to keep learning.

As the founder and head coach of the Ambition Collective, I’m also passionate about helping future leaders build the confidence, capability, and networks to pursue their ambitions. Sometimes, one opportunity and someone who believes in your potential can change the direction of your career.

Phan Anh Vu, partner, and Nguyen Thi Bao Ngan, legal assistant Indochine Counsel

Against this backdrop, Decree 252 further develops the legal framework for tax administration by enhancing data utilisation and connectivity, increasing the use of electronic transactions, strengthening the management of business activities conducted through digital platforms, and applying compliance- and risk-based management approaches.

Decree 252 further develops the tax administration framework applicable to business activities conducted through e-commerce and digital platforms, including clarifying the obligations of e-commerce platform operators to withhold, declare, and pay taxes on behalf of taxpayers.

Accordingly, for transactions generating revenue in Vietnam from business activities conducted through e-commerce platforms, e-commerce platform operators that provide online ordering and payment functions, whether domestic or international, are required to withhold and pay the applicable taxes on behalf of business households and individuals, including foreign suppliers, conducting business through such platforms.

Such platform operators are also required to manage the usernames and passwords of accounts issued by the tax authorities and retain transaction data, information, and supporting documents relevant to determining the tax payable and tax withheld. Proper management of such information is important to mitigate the risks of inaccurate, incomplete, or late withholding and payment of tax on behalf of third parties.

To enhance the effectiveness of tax administration, Decree 252 further develops a compliance- and risk-based approach, enabling tax authorities to allocate their resources more efficiently by shifting from broad-based management towards more targeted supervision.

Under this approach, taxpayers are classified based on their levels of compliance and tax risk. Taxpayers with good compliance records may benefit from incentives, such as consideration for recognition and preferential treatment, while high-risk taxpayers may be subject to enhanced monitoring, inspection, and supervision.

For example, Decree 252 further develops the mechanism for temporary suspension of exit to strengthen tax debt administration while providing taxpayers with an opportunity to remedy their outstanding obligations. In particular, for individuals who are beneficial owners or legal representatives of enterprises, cooperatives, or cooperative unions subject to tax enforcement measures, temporary suspension of exit may be applied where the outstanding tax debt is VND500 million ($19,000) or more and has been overdue for more than 120 days.

On this basis, tax administration in Vietnam is accelerating its digitalisation through data-driven management, integration with national databases, and the use of artificial intelligence to support compliance, tax administration, inspection, and taxpayer classification.

While greater reliance on technology and data may raise concerns over data security and system failures, Decree 252 provides safeguards by requiring information disclosure only to the extent necessary for tax administration and compliance, in accordance with personal data protection and cybersecurity regulations. Importantly, taxpayers will not be penalised for delays in fulfilling tax obligations caused by system failures.

In the longer term, data- and risk-based tax administration will increase the tax authorities’ ability to cross-check enterprise information from multiple sources. Enterprises should therefore move beyond merely completing tax returns towards proactively managing data quality and ensuring that tax, accounting, and e-invoice information is accurate, complete, and consistent.

Taxpayers with good compliance records and low risk may not only be considered for commendation and rewards but may also benefit from preferential treatment in tax administration, such as automation of procedures, shorter processing times for applications, and priority in inspection, supervision, and support methods.

To qualify for preferential treatment, taxpayers must maintain a good compliance rating and a low-risk rating for at least two consecutive years, while meeting requirements relating to tax data connectivity and sharing; electronic data management and storage; internal controls and tax risk management; and compliance with reporting regulations.

This incentive mechanism provides businesses with a greater incentive to comply, as proper compliance with tax laws can bring tangible benefits, such as reduced administrative procedures, shorter tax refund processing times, and priority in the processing of tax applications.

To strengthen cooperation in tax admin, transfer pricing control, base erosion prevention, and cross-border transactions, Decree 252 specifies mechanisms for tax cooperation and admin assistance between Vietnamese and foreign tax authorities and international organisations.

Accordingly, Vietnamese tax authorities may request foreign tax authorities to assist in collecting tax debts owed by Vietnamese taxpayers who are no longer present in Vietnam, and may provide tax collection assistance at the request of foreign tax authorities pursuant to applicable international treaties.

Decree 252 provides for simultaneous tax inspections by Vietnamese and foreign tax authorities, including principles for coordination, consultation, and the conduct of inspections in cases involving common or related interests. Enterprises should prioritise ensuring consistency across data, reviewing internal procedures, and monitoring their compliance status and notifications from the authorities.

Melanie Proffitt, president of the Association of Chartered Certified Accountants (ACCA) Global

AI is changing how accountancy work is carried out, from routine processes to the analysis of financial information. But while the tools available to accountants are changing, the profession’s responsibilities remain much the same. Trust, integrity, and ethical conduct are still central to the work accountants do.

This becomes particularly important as businesses rely more heavily on automated systems and AI-generated information. Accountants must ensure that financial information is reliable, that organisations remain accountable for their decisions, and that the public interest is protected.

There are efficiency gains to be made. AI can automate routine tasks and help accountants analyse information more effectively, giving them more scope to focus on interpretation and decision-making. But its outputs are not always accurate or impartial. The quality of the underlying data, the assumptions built into a system, and the way results are interpreted can all affect the conclusions drawn.

Accountants therefore need to understand what these tools can do, where their limitations lie, and when their outputs require further scrutiny. That calls for more than technical familiarity: they must be able to question the information presented to them and judge whether it provides a sound basis for a business decision.

Even as more processes become automated, businesses still need professionals who can apply experience, assess risks, and exercise sound judgement. The challenge for accountants is to make effective use of AI without losing sight of the professional standards and accountability on which the role depends.

ACCA will introduce a redesigned qualification next year. What are the main changes, and how do they reflect the changing needs of accounting and finance teams?

The redesigned ACCA Qualification reflects changing expectations. Employers need accountants who understand financial reporting and accounting principles, analyse data, and apply their knowledge to business decisions while maintaining professional standards.

Data analytics will receive greater emphasis, as finance teams are expected to derive insights from data rather than simply report figures. Students need to understand how analytical models work and how their findings inform decisions.

Sustainability is another key component. As sustainability reporting and performance measurement become more prominent, finance professionals must interpret non-financial information alongside conventional measures and communicate relevant findings to stakeholders.

The qualification is also becoming more flexible to accommodate varied career paths. Professionals may change functions, specialise in new areas, or take career breaks. The revised structure gives learners flexibility in progressing through the qualification and accreditation process.

Employability modules will help students connect technical knowledge with workplace practice. Accountants need to communicate findings clearly, understand commercial priorities, and collaborate with colleagues across an organisation. These capabilities are increasingly important when translating financial analysis into practical business decisions.

Ethics and integrity remain central to the qualification. Alongside technical expertise, accountants need sound professional judgement and ethical awareness to assess information critically, maintain its reliability, and support informed decisions.

How will the redesigned qualification prepare students to use these technologies while retaining professional judgement and accountability?

Data analytics features prominently in the redesigned qualification. Students will learn how analytical models work and how technology can be applied in professional settings. AI tools will also feature in employability modules, although they will not be used in examinations.

However, using these tools effectively requires a sound grounding in accounting principles. Technology can perform calculations and generate analysis, but accountants must understand the figures, assess their accuracy, and question results that appear inconsistent.

This is particularly important because AI can produce biased or inaccurate outputs. Students need to evaluate these results critically and recognise when further checks are necessary before using the information to inform decisions. Professional judgement remains the accountant’s responsibility, even when technology performs much of the underlying work.

These demands also affect practising accountants, who need to update their skills as technology changes their work. ACCA offers additional learning resources and certifications, including a certificate in digital finance and training in ethics in AI, to help accountants develop their knowledge in these areas.

The priority is to ensure accountants can use new technologies effectively while retaining the technical understanding needed to assess their outputs.

What distinguishes a global professional qualification, and how can ACCA help accountancy professionals prepare for the next stage of their careers?

ACCA operates in 179 countries and territories, with members working across domestic and international markets. Its global presence and local offices provide contacts for those navigating different regulatory environments.

An internationally recognised qualification can help when pursuing opportunities overseas, although career progression also depends on experience, specialist knowledge, and an understanding of local markets. As technology changes the work of finance teams, accountants may need to develop expertise beyond their original areas of specialisation.

Members have access to educational and research resources, continuing professional development, and additional certifications. The Career Navigator helps them explore career paths and identify potential skills gaps, while the careers job board lists vacancies across markets. The website also provides guidance for those considering relocating or working abroad.

Beyond professional roles, members can serve on local panels and committees, attend industry events, mentor aspiring accountants, and introduce the profession to students and wider communities. Those interested in contributing to the organisation’s governance can also consider standing for the ACCA Council.

These activities provide opportunities to exchange experience, maintain professional connections, and support people entering the profession. The options available range from further training and career guidance to participation in professional networks, depending on members’ interests and career plans.

By the time monthly reports are finalised, the underlying business may already have changed. Customer demand may have shifted, inventory may be building in the wrong locations, and cash collections may no longer reflect assumptions made only weeks earlier.

Mohammad Mudasser, partner of Deals Transformation at PwC Vietnam

The question confronting CFOs is whether AI can help finance identify those changes while there is still time to act. More fundamentally, can it help finance move beyond reporting performance to shaping business decisions?

For CFOs, that value will not be measured by the number of tools introduced or processes automated, but by whether AI helps finance identify emerging issues, test scenarios and bring financial and operational information together in time for management to act.

Early investment in AI for finance has focused largely on productivity: automating reports, extracting information, accelerating reconciliations, and reducing repetitive work. These improvements remain valuable, particularly where finance teams spend more time preparing information than interpreting it. But they represent only part of the opportunity.

In our experience, the constraint is rarely the absence of technology. More often, finance, sales and operations are working from different assumptions. A forecasting model may assume inventory is available for sale, while commercial teams know certain stock has already been committed. Credit exposure may appear manageable in finance reports while sales teams are negotiating payment extensions. Introducing AI into that environment can accelerate analysis, but it can also accelerate disagreement.

One misconception is that AI changes finance because it produces better answers. In reality, it changes finance because it changes when questions can be asked. Instead of waiting until month-end to identify a problem, management may be alerted while corrective action is still possible. The challenge then becomes organisational rather than technical: who owns the decision and what happens next?

AI-enabled finance function

An AI-enabled finance function should be judged not by the number of tools it has purchased, but by whether it gives decision-makers better information when it matters. In practice, AI could alert treasury to collection risks, help the financial planning and analysis team test changing assumptions or direct controllers towards unusual transactions.

Treasury and working capital are practical starting points because the outcomes are concrete and measurable. By combining payment behaviour, sales and purchasing data, inventory movements and operational assumptions, AI can flag cash receipts at risk, excess inventory absorbing capital or forecasts that no longer reflect current evidence.

For example, a deteriorating collection pattern from a key distributor might not justify immediate intervention. However, if the same signal appears alongside slowing sales and rising inventory in a specific region, management's response may be very different. Finance increasingly becomes responsible for connecting these signals rather than reporting them separately.

During one retail transformation, the objective was not to build a more sophisticated forecast. The challenge was that inventory, sales and receivable information existed across multiple channels and was interpreted differently by different business functions. The lesson was simple: before improving the forecast, management first had to agree on what the business was actually measuring.

Yet the output is only as dependable as the process behind it. Reliable data, visible assumptions and human judgement remain essential; finance leaders must still challenge recommendations, consider the business context and retain accountability for the final decision.

PwC’s collaboration with OpenAI to develop AI-enabled workflows across planning, forecasting, treasury, procurement, tax and reporting illustrates this direction of travel. The intention is to embed AI within finance processes rather than add it as a separate layer.

Across many Vietnamese organisations, transformation ambitions extend beyond finance. Businesses are trying to connect commercial operations, customer channels, supply chains and finance onto a common platform. Yet the technology challenge is often secondary to a business challenge: different functions have developed their own definitions, reports and ways of making decisions over many years.

This is particularly common in fast-growing organisations that have expanded across multiple channels, locations or business units faster than their underlying operating model has evolved.

We have seen this in projects involving retail and distribution businesses where management sought a real-time view of inventory, pricing and customer activity. The harder discussion was often not how to build the dashboard, but which numbers should be trusted and who should own the resulting decision. AI will not eliminate those debates. It may simply reveal them earlier.

In one retail and distribution transformation, management's ambition extended beyond reporting and into a digitally integrated operating model capable of linking customer interactions, inventory movements, pricing decisions and finance information. The critical lesson was that technology created value only after ownership, definitions and decision rights had been clarified across functions.

Risks and priorities for CFOs

The more immediate risk for many organisations may not be moving too slowly on AI. It may be introducing AI into processes that already suffer from unclear ownership and inconsistent data. Doing so can create the appearance of confidence without improving the quality of the underlying decision. Before asking whether a model is intelligent, leaders should ask whether the underlying process is sufficiently trusted to support a business decision.

For Vietnamese CFOs, moving finance from reporting the past to shaping what the business does next requires action in four areas: decisions, foundations, people, and value.

First is to focus AI investment on a clearly defined business decision where better information could improve a financial outcome. Potential starting points include cash forecasting, overdue receivables, inventory exposure, scenario planning and capital allocation. Define the decision, the current problem and the accountable executive before selecting the technology.

Second is to establish the process and data foundations required to support the selected decision. AI will not resolve unclear ownership, inconsistent definitions or disconnected workflows. Finance and the business must agree on the source of truth, process and control points, while ensuring that the minimum data required for a pilot is reliable and clearly owned.

Third is to define how people will use, challenge and remain accountable for outputs. Each use case should specify who reviews and may override a recommendation, what evidence is required and how the decision is recorded. Employees should help shape the design because they understand exceptions that may not appear in system data. Leaders should also be clear about whether the objective is to remove repetitive work, strengthen control, increase decision capacity or reduce cost.

And finally, it is necessary to measure value through a business outcome linked to the decision. Senior management teams rarely celebrate a model because it is technically accurate. They value it because a better decision was made faster, with greater confidence and fewer surprises. For that reason, CFOs should measure AI against business outcomes rather than system activity.

Over the past decade, finance has become faster, more automated and more data-rich. The next challenge is different. It is helping organisations make better decisions under increasing uncertainty. AI will contribute to that shift, but technology alone will not determine who succeeds.

The organisations that succeed will be those that combine trusted data, accountability and sound judgement. Their advantage will not lie in the sophistication of AI models, but in ability to recognise change earlier, allocate capital more effectively and make decisions with greater confidence when market conditions shift.

Based on Hilton’s Southeast Asia Pulse Check 2026, what are the most notable shifts in how Vietnam-based travellers are planning to travel over the next 12 months?

Vietnam continues to stand out as one of Southeast Asia's most vibrant travel markets. While increased travel spending is a key driver of growth, what is particularly encouraging is how travellers are choosing to spend that time and money. For Vietnam-based travellers, we are seeing strong demand for multi-destination travel, with many looking to explore more places within a single journey and make the most of their time away.

At the same time, family-friendly destinations and multigenerational travel remain a priority, underscoring the importance many travellers place on creating meaningful experiences and shared memories with loved ones. This shift is especially pronounced among younger travellers, whose preferences will continue to influence the evolution of travel demand in Vietnam and across the region.

At Hilton, we see these trends as an opportunity to help travellers make the most of their journeys, whether that’s discovering a new destination, enjoying a meaningful experience, or simply spending quality time with the people who matter most.

Vietnam stands out for its travel momentum in the region. What are the key factors driving tourism growth in Vietnam?

There are several key factors buoying the country’s tourism growth: a growing middle class both in Vietnam and across the region, improving air connectivity, and the breadth of experiences Vietnam has to offer. The country’s strong domestic travel market also reflects the scale and resilience of demand, with more than 113 million domestic arrivals recorded in the first eight months of 2026. As Vietnam’s middle class continues to expand and disposable incomes rise, we expect Vietnamese travellers to drive demand across the travel spectrum, from luxury and lifestyle experiences to focused-service accommodations.

Vietnam is also becoming increasingly accessible to international travellers, with airlines adding new routes and increasing frequencies to key regional and long-haul markets. At the same time, emerging destinations such as Danang, Hoi An, and Phu Quoc are developing increasingly distinctive propositions across leisure, luxury, wellness, and meetings and events.

We see these fundamentals supporting Vietnam’s continued growth as a regional tourism powerhouse, which is why it is such an important market for Hilton. Vietnam is currently our third-largest market in Southeast Asia, with 24 operating hotels and has our largest development pipeline with 23 upcoming properties across the country. Our growing mid-market presence also reflects the reach of our footprint in Vietnam.

Tru by Hilton, which made its Asia-Pacific debut here, brings vibrant, value-driven stays to 14 cities across the country, from bustling hubs like Hanoi and Halong to emerging destinations like Danang and Nam Dinh. As we continue to expand, we will be well-positioned to serve guests across different destinations, price points, and travel occasions through our diverse portfolio of brands.

NHAAN Resort & Spa Hoi An. Photo: Hilton

What is Hilton’s strategy for expanding its portfolio in Vietnam to cater to the next wave of travellers?

Our development strategy has always been to bring the right brands to the right destinations to meet the evolving needs of travellers. Our diverse portfolio of 24 hotels across five brands in Vietnam, spanning luxury and lifestyle to full-service and focused-service accommodation, enables us to cater to a wide range of traveller preferences and budgets. This matters as evolving traveller preferences increasingly extend to the hotel experience.

Our Pulse Check found that while value for money (67 per cent) and location (59 per cent) are the top booking considerations, quality dining (47 per cent) and family-friendly amenities (45 per cent) are also important to travellers from the region. This suggests that accommodation is increasingly expected to contribute to the trip itself, through food, ease, comfort, and experience, rather than simply providing a place to sleep. We design our hotels with this in mind.

At Hilton Saigon, for example, guests can look forward to spacious guest rooms suited for multigenerational families, as well as Residence Eleven, which serves modern Chinese cuisine from a signature wood-fired oven, while the rooftop Song Bar pairs cocktails made with local ingredients with sweeping views of the skyline and the Saigon River.

This approach also allows us to meet travellers wherever they are on their journey. As travellers from Southeast Asia increasingly seek out new destinations and explore Vietnam's emerging destinations, our properties give them a comfortable base to do so.

For those revisiting familiar favourites, our different properties offer a range of experiences in both established gateway cities and emerging destinations as Vietnam's tourism landscape continues to evolve. For example, we recently opened Hilton Quang Hanh Onsen Resort, our first onsen resort in the region, bringing a wellness-led experience to Quang Ninh.

Looking ahead, Waldorf Astoria Hanoi, which is set to open in 2028, will mark the brand's debut in Vietnam, while LXR Hotels & Resorts will also make its Vietnam debut that year with an intimate 80-room retreat on Dao Xanh (Green Island) in Danang. These openings reflect our commitment to bringing more distinctive luxury and lifestyle experiences to the region, as part of our plans to more than double our luxury and lifestyle portfolio in Southeast Asia and bring us closer to our goal of exceeding 250 hotels in these categories in Asia-Pacific in the coming years.

Hilton Quang Hanh Onsen Resort. Photo: Hilton

Could you shed some light on Hilton’s development pipeline in Phu Quoc?

In Phu Quoc, we plan to open a multi-brand cluster comprising Conrad Phu Quoc and Hilton Phu Quoc and DoubleTree by Hilton Phu Quoc from late 2027 to early 2028, with over 2,000 rooms in total. This cluster will form part of a hospitality and event precinct being developed for the APEC Economic Leaders' Meeting.

Each brand will serve a distinct need, from the over 200 locally inspired rooms at Conrad Phu Quoc for guests seeking a luxury escape, to over 900 contemporary rooms at Hilton Phu Quoc and nearly 900 rooms at DoubleTree by Hilton Phu Quoc, offering families and larger groups more space to stay together.

Bringing three brands together in one precinct allows travellers the flexibility to choose the experience and price point that suits them, while allowing event organisers the scale and flexibility to accommodate different types of groups during APEC and well beyond it.

As Phu Quoc evolves from a leisure escape into a destination for both leisure and business events, our focus will be on ensuring that each hotel remains connected to its surroundings through local design, dining, and hospitality, supported by well-trained local teams.

We will continue to work closely with our owners and partners to deliver experiences that reflect the destination, so that as more travellers discover Phu Quoc and explore more of Vietnam, they can find a stay that is right for their journey.

Hilton doubles down its footprint in the Vietnamese market Vietnam has been recognised as one of the key markets for Hilton in Southeast Asia as the country continues to undergo strong transformation in the tourism industry. Alexandra Murray, vice president and regional head of South East Asia spoke with VIR’s Thanh Van about the importance of the Vietnamese market for Hilton as the company celebrates two and half decades of presence in the country.

Hilton grows luxury portfolio in Vietnam with Sun Group Hilton has strengthened its partnership with Sun Group to accelerate expansion across Vietnam’s fast-growing tourism and real estate markets.

Hilton and Sun Group lead Vietnam’s next wave of premium travel As Vietnam’s tourism enters a new era of sustainable, experience-driven growth, Hilton is deepening its commitment to the market through an expanded partnership with Sun Group, set to add nearly 1,800 rooms across five new properties, including Conrad, LXR, and DoubleTree by Hilton. Speaking to VIR’s Khanh Linh, Maria Ariizumi, Hilton’s Vice President of Development for Southeast Asia, highlighted the group’s long-term vision for Vietnam and the substantial value this expansion offers to investment partners.

Hung Vuong Square is a highlight of the urban landscape in My Tho of Dong Thap province

According to State Treasury figures, as of September 30, the province had disbursed $263.3 million in public capital, equivalent to around 55 per cent of the adjusted plan approved by Dong Thap People’s Council.

Compared with September 24, disbursements had increased by $10.77 million, comprising $9 million from the local budget and $1.7 million from the central budget.

For 2026, the total public capital plan approved by the provincial People’s Council stands at $480 million, 5 per cent higher than the plan assigned by the prime minister. Of this amount, more than $383 million comes from the local budget and nearly $100 million from the central budget.

The funds were allocated from late 2025, enabling project developers to proceed with implementation. Alongside accelerating disbursement, the province’s management requires that projects meet quality standards, deliver efficiency and be put into operation as soon as possible.

Under the proposed medium-term public investment plan for 2026-2030, the province’s list of key projects comprises three ongoing projects carried forward from previous periods and 17 new projects scheduled to commence construction.

The three ongoing projects are a provincial road section from the National Highway 30, with total funding approximating $87.2 million; provincial road 864, running along the Tien River, with total investment of $98.5 million; and Phase 1 of the Cao Lanh-An Huu expressway, at a total of almost $300 million.

Among the 17 new projects, the Dong Thap inter-regional connectivity project is expected to mandate total investment of approximately $758.6 million. Two projects using foreign capital are the coastal road section passing through the former Tien Giang province and connecting Long An and Ben Tre, with total funding of $283.8 million; and road transport infrastructure in the southern Tien River area, with investment reaching around $205.9 million.

These initiatives are expected to enhance connectivity between local raw-material production areas, processing facilities, IPs, and freight transport hubs.

Dong Thap has identified inter-regional transport connectivity as a key breakthrough for reducing logistics costs. Accordingly, phase 1 of the Cao Lanh-An Huu expressway, at a cost of $300 million, is expected to be completed within 2026.

Phase 1 of the My An-Cao Lanh expressway is scheduled for completion in 2028. The Ministry of Construction has agreed to upgrade the project from a limited four-lane configuration to a full four-lane

expressway.

At the inter-regional level, notable projects include the expansion of the Ho Chi Minh City-Trung Luong-My Thuan expressway, preparations for investment in the Duc Hoa-My An expressway, and the Vinh Long-Can Tho expressway.

The Rach Mieu 2 Bridge, connecting the former Tien Giang and Ben Tre provinces, has been adjusted to include an overpass across National Highway 1 at the Dong Tam interchange, helping strengthen regional connectivity.

Dong Thap is currently home to six IPs that are substantially occupied, while four others are under development or completing administrative procedures. It has also planned an additional 25 IPs, and by 2030 plans to study the development of several new parks.

In 2026, the province aims to complete procedures for in-principle approvals for the Soai Rap, Tan Phuoc 2, and Cao Lanh III IPs, while accelerating site clearance and infrastructure construction at Tan Phuoc 1 and Binh Dong IPs.

New land reserves are set to meet local burgeoning demand for production expansion, attract large-scale projects using advanced technologies, and increase the share of industry and services in the economic structure.

By 2030, Dong Thap aims to have at least 18 new IPs in operation. This orientation reflects the province’s proactive efforts to create new development space by integrating transport infrastructure, IPs, logistics, and urban areas.

At a meeting on September 9, Nguyen Thanh Nhan, Chairman of Dong Thap People’s Committee, emphasised the goal of achieving rapid, green, and modern development, with a view to attaining double-digit economic growth.

“Accelerating public investment, completing inter-regional transport infrastructure, and expanding IPs will lay the bedrock for the province to attract new capital flows, encourage businesses to expand production, and usher in a new growth cycle,” Chairman Nhan said.

In line with global development trends, Vietnam is actively promoting a green transition, aiming for a net-zero 2050 target. Access to capital and integrating environmental, social, and governance (ESG) criteria has become a critical requirement for businesses.

Image courtesy of KN Holdings

Within its long-term investment sectors such as real estate, energy, and industrial infrastructure, KN Holdings has progressively embedded ESG principles into its development strategy and business operations.

The group’s inclusion in the list serves as a testament to its commitment to translating a sustainable development vision into concrete actions, supported by transparent information and verifiable, evidence-based results.

Following nearly 50 years of growth and development, KN Holdings has now integrated this sustainable orientation into its broader, diversified investment ecosystem.

This ecosystem rests on five core pillars: real estate, services, renewable energy, industrial zones, and logistics. These sectors are interconnected and mutually reinforcing, enhancing resource efficiency while meeting the long-term development needs of the market.

By progressively integrating ESG factors into its investment strategy, aiming to enhance operational efficiency and generate long-term value, KN Holdings has been building a multi-sector ecosystem. In this ecosystem, every project, business segment, and activity is oriented toward creating sustainable value for the community and the nation.

Image courtesy of KN Holdings

In the renewable energy sector, the group has been developing solar power projects in Khanh Hoa province since 2018. The three plants of KN Cam Lam, Cam Lam VN, and KN Van Ninh are currently in operation with a combined capacity of 200MWp, supplying hundreds of millions of kWh of electricity annually to the national grid.

KN Holdings continues to expand its portfolio of floating solar power projects, with a total capacity of 2,630MWp included in the national power development plan. Several of these projects have already received investment approval and are currently under construction, helping to meet the growing demand for clean energy from the economy and the manufacturing sector.

In the industrial real estate sector, KN Holdings is developing ‘KN Industrial City’ (KNIC) based on a new-generation industrial city model - characterised as green, smart, and ecological - with a focus on modern infrastructure, clean energy, and amenities designed to serve businesses, experts, and the workforce.

Two projects, KNIC Nam Long Thanh and KNIC Dong Long Thanh in Dong Nai city, span a total area of ​​approximately 2,000 hectares in their first phase.

They are strategically positioned to attract high-tech industries, advanced manufacturing, and high-value supply chains.

The group’s commitment to green development in this sector has been recognised, with KN Holdings and KNIC receiving multiple consecutive honours under the ‘For a Green Future’ programme.

Accolades include titles such as ‘Industrial Real Estate Developer with an Exemplary Green Transition Strategy’ and ‘Promising Green Industrial Real Estate Developer’, alongside other ESG-related awards.

These achievements mark strategic milestones in KN Holdings’ development of industrial infrastructure integrated with a green transition.

In the real estate and services sector, KN Holdings prioritises comprehensive master planning, high-quality construction, and robust amenities.

The group focuses on meeting long-term needs by developing projects that seamlessly integrate residential, leisure, commercial, and entertainment spaces. CaraWorld Cam Ranh serves as a prime example of this approach as a large-scale destination development that incorporates a diverse range of products and services, thereby unlocking tourism potential and enhancing the value of the region.

Meanwhile, the logistics division plays a vital role in strengthening supply chain connectivity, supporting the industrial real estate sector, improving operational efficiency, and fostering synergy across the various segments of the company’s investment ecosystem.

Social responsibility

For KN Holdings, sustainable development is reflected not only in its business operations but also in its commitment to society and the community as a core mission and philosophy the group has upheld since its inception.

Image courtesy of KN Holdings

To date, KN Holdings has contributed $115.4 million to social initiatives, with a focus on healthcare, education, environmental protection, and disaster relief for affected communities.

These programmes aim to improve living conditions, educational opportunities, and healthcare for the public, reflecting a commitment to integrating investment activities with social responsibility, ensuring that business performance goes hand in hand with contributions to the community.

Moving forward, the group aims to deepen its development across core sectors, enhance operational efficiency, promote green solutions, and strengthen integration within its ecosystem.

For KN Holdings, ESG is more than just an evaluation criterion; it is a strategy embedded in investment decisions and management practices, serving to generate tangible value for partners, employees, the community, and the Vietnamese economy.

KoCham and KN Holdings strengthen cooperation on eco-industrial parks The Korean Chamber of Commerce in Vietnam (KoCham) and KN Holdings Group on January 16 signed an MoU on cooperation in industrial park investment and development in Dong Nai province.

KN Holdings kicks off infrastructure construction of KNIC Nam Long Thanh project Bau Can - Tan Hiep Industrial Park, also known as KNIC Nam Long Thanh, held a general contractor kick-off ceremony for the first phase of its infrastructure works in Dong Nai, marking the official start of on-site construction on May 21.

KN Holdings strengthens Guangdong supply chain ties KN Holdings has shared its development direction for new-generation industries in Vietnam at a conference in China, strengthening investment and supply chain connections with Guangdong businesses.

KNIC honoured for third consecutive year at Green Future Awards KN Industrial City (KNIC), a member of KN Holdings, has once again been honoured in the category of Promising Green Industrial Real Estate Developer at the Green Future Awards.

The terminal currently operates 11 weekly shipping services, strengthening connections between Vietnamese cargo and international markets.

Developed in line with Vietnam's seaport development strategy, Tan Cang – Haiphong International Container Terminal (TC-HICT) was established through cooperation between Saigon Newport Corporation and international partners MOL, ITO, and WHL, with the aim of developing a modern deepwater terminal in Lach Huyen, Haiphong.

Construction began in 2016, and the port officially opened in May 2018, marking a step towards connecting Vietnamese cargo with international markets.

At TC-HICT’s 15^th anniversary ceremony on October 16, 2026, major general Ngo Minh Thuan, commander of Corps 20 and chairman and general director of Saigon Newport Corporation, highlighted the strategic significance of investing in Lach Huyen despite the challenging conditions in the area at the time.

“Fifteen years ago, in carrying out the mission assigned by the Prime Minister and upholding the traditions and qualities of ‘Uncle Ho’s Soldiers’, Saigon Newport Corporation brought its spirit of daring to think, daring to act, and daring to take responsibility to Lach Huyen – an area that was then largely undeveloped, with vast white salt fields and extremely challenging transport connections,” he said.

The investment formed part of Saigon Newport Corporation’s long-term strategy to expand its port network, strengthen its presence in northern Vietnam, and improve connectivity between major economic centres and international markets.

Since commencing operations, TC-HICT has helped enhance the capacity of northern Vietnam’s seaport system, enabling larger container vessels to call at Lach Huyen and providing importers and exporters with additional shipping options. The terminal also supports an integrated port and logistics network linking manufacturing centres and economic zones with global supply chains.

Le Trung Kien, Vice Chairman of Haiphong People’s Committee, said, "TC-HICT had played an important role in connecting northern Vietnam with international markets. The terminal is a key component of the city’s seaport network and contributes to Haiphong’s socioeconomic development."

The port has handled more than 8.2 million TEUs. Photo: Quynh Nga

TC-HICT’s operating performance underscores its growing role in regional maritime transport. To date, the terminal has handled more than 8.2 million TEUs and received approximately 3,550 container vessel calls. The largest vessel to have called at the port has a deadweight tonnage of 171,899 DWT, while peak handling productivity has reached 190 containers per hour.

Annual throughput has exceeded one million TEUs for five consecutive years, demonstrating the terminal’s ability to sustain operations at scale.

On October 15, TC-HICT recorded the discharge of its one-millionth container of the year from the ONE Fantastic, a vessel with a deadweight tonnage of 171,899 DWT and the largest to have called at the port. The milestone reflects the terminal’s handling capacity and its role in international container shipping.

The terminal currently operates 11 shipping services a week, comprising seven services to the US and four intra-Asia services. These routes give Vietnamese businesses greater access to overseas markets while supporting cargo flows through international supply chains.

Speaking at the anniversary ceremony, lieutenant colonel Doan Hai Tuan, chairman of the Members’ Council of TC-HICT, said, "The terminal had progressively established itself as a modern deep-water port in northern Vietnam by attracting international shipping services and expanding connections between Vietnamese cargo and global markets."

Reliable international shipping connections are increasingly important for businesses seeking to control freight costs, improve delivery schedules, and strengthen supply chain resilience. Depending on the route, direct services can also reduce reliance on overseas transshipment hubs, helping improve transport efficiency and competitiveness.

TC-HICT’s deep-water location in Lach Huyen therefore offers advantages beyond container handling. By linking cargo flows with international shipping networks, the terminal supports trade between manufacturing centres in northern Vietnam and overseas markets. Continued improvements in operational efficiency and service connectivity will be important to increasing the port’s contribution to Vietnam’s logistics sector.

In recognition of its contributions to the development and operation of deep-water port infrastructure in Lach Huyen, TC-HICT received the Third-Class Labour Order at the anniversary ceremony. The award marks an important milestone in the terminal’s development.

TC-HICT plans to continue investing in infrastructure, equipment, and technology, with the long-term aim of accommodating vessels of up to 200,000 DWT. The expansion is intended to enhance the terminal’s ability to serve larger vessels and meet the evolving requirements of international shipping.

On October 15, TC-HICT welcomed ONE FANTASTIC, the largest container vessel to call at the port since operations began. Photo: TC-HICT

Alongside investment in maritime capacity, the terminal is seeking to strengthen multimodal logistics connections across sea, inland waterway, road, and rail transport. It also plans to expand cooperation with logistics providers, industrial parks, manufacturing centres, and partners across Saigon Newport Corporation’s wider business ecosystem.

Improved connections between the port and surrounding economic areas would help streamline cargo flows and enable businesses to make better use of Lach Huyen’s strategic location and deep-water advantages.

Digital transformation is another priority. TC-HICT plans to expand the use of ePort, optical character recognition, and AI to improve operational management, service quality, and productivity. These initiatives are expected to support the development of green and smart port operations, aligning technology investment with longer-term sustainability goals.

Saigon Newport Corporation expects TC-HICT to remain an important part of its port and logistics ecosystem in northern Vietnam. Priorities include attracting additional international shipping services, enhancing competitiveness, improving connectivity with Lach Huyen berths 7 and 8, and capitalising on opportunities associated with Haiphong Free Trade Zone.

Automation, digitalisation, and green port development are also expected to shape the terminal’s next phase of growth.

The next stage of development will focus on expanding connectivity and upgrading operational capacity, supporting Lach Huyen’s ambition to become a modern port and logistics hub with stronger international competitiveness.

Building on throughput of more than 8.2 million TEUs, an established network of international shipping services, and its deep-water advantages, the terminal aims to further strengthen its role as a maritime gateway for northern Vietnam, contributing to Haiphong’s economic growth and enhancing Vietnam’s logistics capabilities.

PM launches lunar new year operations of Tan Cang-Cat Lai port Prime Minister Pham Minh Chinh on January 29 attended a ceremony to give the order to handle the first cargo in the Year of the Cat at Tan Cang-Cat Lai port in Ho Chi Minh City.

Vietnam aims for expansive ICD system The country is making strong efforts to develop an expansive inland container depots (ICDs) system to empower the local logistics sector.

New share issuances on the cards amid favourable market Vietnamese firms are planning to issue new shares amid a relatively auspicious stock market landscape.

Held under the theme "Forging Legacy: Celebrating Excellence, Inspiring Tomorrow," the awards celebrated leaders and enterprises creating lasting value for the future. This year's honourees demonstrated the vision, resilience, and adaptability needed to navigate a rapidly changing business environment while remaining committed to innovation, responsible business practices, and long-term growth.

More than 350 nominations from across Vietnam underwent a rigorous judging process conducted by a distinguished panel of experts. Nominees were evaluated based on leadership excellence, business performance, innovation, sustainability, governance, and overall impact.

Following extensive deliberations, outstanding winners were selected across five award categories: Master Entrepreneur, Inspirational Brand, Fast Enterprise, Corporate Excellence, and the Corporate Integrity and Governance Excellence Award. The newly introduced Corporate Integrity and Governance Excellence Award recognises organisations that demonstrate exemplary governance, ethical leadership, transparency, accountability, and effective risk management.

Photo: APEA 2026

Since 2007, the Asia-Pacific Enterprise Awards (APEA) have been organised across Asia to recognise exceptional business leaders and enterprises contributing to entrepreneurship and economic development. Previous awardees include Kwek Leng Beng of Hong Leong Group Singapore, Indonesia’s Hary Tanoesoedibjo of MNC Group, the Philippines’ Manuel Villar of Vista Land, and Vietnam’s Dang Van Thanh of TTC Group.

In his welcome address, Enterprise Asia chairman Dr. Fong Chan Onn highlighted the importance of forward-looking leadership in driving sustainable growth and lasting impact. “Today’s business landscape is evolving at an unprecedented pace. Enterprises must look beyond responding to change, harness innovation, strengthen collaboration, and embrace new opportunities. By leading with purpose and vision, businesses can achieve sustainable growth while creating lasting value for their stakeholders and communities.”

The distinguished awardees reflect the diversity, ambition, and entrepreneurial strength of Vietnam’s business community. The Master Entrepreneur category recognised visionary leaders, including Ly Anh Duy Quang, board member of GREENFEED Vietnam Corporation, and Mai The Toan, chairman of the board of directors of Petrovietnam Drilling & Well Service Corporation (PV Drilling), for their leadership, entrepreneurial excellence, and ability to build businesses with lasting value. Under the Inspirational Brand category, industry leaders such as BaoViet Life Corporation, Bia Saigon, and 333 were honored for their strong brand presence, market influence, and meaningful engagement with customers and stakeholders.

Fast-growing enterprises including Saigon International General Hospital (SIG) received the Fast Enterprise award for their impressive growth, agility, and ability to respond effectively to emerging opportunities. Meanwhile, established organisations such as Military Commercial Joint Stock Bank (MB Bank) and Masterise Group were recognised under the Corporate Excellence category for their sustained business performance, organisational strength, and contributions to their respective industries.

The Corporate Integrity and Governance Excellence Award further recognised organisations including Saigon Bank For Industry And Trade (SAIGONBANK) and Kafi Securities Corporation for their commitment to ethical leadership, sound governance, transparency, and responsible corporate practices.

Photo: APEA 2026

Photo: APEA 2026

The APEA 2026 Vietnam Chapter is supported by Snowball JSC as its Official Implementation Partner, with PR Newswire serving as the Official News Release Distribution Partner and COCOON as the Door Gift Sponsor.

AWARD RECIPIENT LIST OF THE ASIA PACIFIC ENTERPRISE AWARDS 2026 VIETNAM

Thousands of participants joined MEXC's on-site activities, reflecting strong interest in both AI-enabled trading and broader access to traditional financial markets. Across the booth and the MEXC Stage, a central question emerged: how trading platforms can become more connected, accessible, and intelligent as crypto and traditional finance continue to converge.

The MEXC Stage and a panel featuring MEXC CEO Vugar Usi Zade and Payward Co-CEO Arjun Sethi. Photo: MEXC

AI was one of the most visible themes at the MEXC booth. Through the AI Trading Challenge, visitors experienced how natural-language instructions, AI agents, and MEXC CLI work together to move trading ideas from analysis to action. The experience demonstrated how users can express what they want to do in everyday language, while AI agents connect those intentions with MEXC's trading capabilities.

Alongside the trading experience, the AI Bond Test offered a more playful way for visitors to explore their relationship with AI, including how they use, trust, and interact with it in everyday decision-making. Together, the two activities reflected growing interest in AI as more than an information tool – a natural part of the broader trading experience.

Traditional financial markets were another major area of interest. Through The NEXT Newspaper, MEXC transformed research insights around AI, trading, and global markets into an interactive experience, allowing visitors to personalise their own newspaper with their photo and predictions about the future of investing. The activation reflected a broader shift in retail investing, as users increasingly look beyond crypto toward stocks, commodities, and other traditional assets, while expecting access through seamless digital platforms.

These themes extended to the MEXC Stage, where Vugar Usi Zade joined Arjun Sethi. The panel explored how crypto and traditional finance are moving toward a more connected, always-on financial environment, and how retail demand could drive the evolution toward platforms offering access across multiple asset classes.

Sethi highlighted the infrastructure needed to support this shift, noting that the promise of 24/7 markets ultimately depends on connecting assets and collateral more effectively. Collaboration was another key theme, with Sethi pointing to partnerships as an important part of reaching global users, specifically referencing MEXC as an example of a platform that could help partners succeed in their core markets. Usi Zade similarly highlighted how platforms can build on different strengths across infrastructure, market access, and retail distribution rather than approaching every opportunity through competition alone.

"AI can help retail users process large amounts of information more efficiently and convert insights into action, while increasingly agentic tools could further change how users interact with financial platforms," Usi Zade noted.

From hands-on AI experiences to traditional finance engagement and conversations about the future of market infrastructure, MEXC's TOKEN2049 presence reflected a broader direction for trading: more connected markets, broader access, and increasingly intelligent ways for users to participate.

Visitors engage in interactive activities at the MEXC booth. Photo: MEXC

Founded in 2018, MEXC is a global multi-asset trading platform serving users across more than 170 markets. The platform provides access to crypto, stocks, tokenised assets, derivatives, and a growing range of traditional finance-linked opportunities through one account, with zero trading fees, deep liquidity, and broad asset coverage. As crypto and traditional finance continue to converge, MEXC aims to make global opportunities more accessible.

MEXC empowers Vietnamese youth to drive innovation and creativity Global digital asset platform MEXC is ramping up initiatives to inspire and equip Vietnam's young tech talent for the fast-evolving Web3 era.

Tokenised prospects within a new financial order As one of Southeast Asia’s most dynamic markets, Vietnam is well-positioned to play a bigger role in the region’s digital finance evolution. Dada Zhuang, chief business officer of digital asset group MEXC Vietnam, shared her perspective with VIR’s Vy Vy on trust-building mechanisms and ecosystem priorities needed to elevate Vietnam’s position in the next digital finance wave.

Promoting digital assets initiative in Vietnam A digital asset initiative has been launched with the participation of MEXC, aiming to enhance safety, compliance, and the development of a transparent digital asset ecosystem in Vietnam.

MEXC Ventures partners with Corelia Academy: Bringing digital asset education closer to Vietnamese students After more than three months, the UniHackfest 2026 programme recorded the participation of 20 universities and colleges, over 1,500 direct interactions with students, and more than 160,000 views and impressions on social media.

“Last year, the narrative centred on adoption–the arrival of AI. This year, the focus has shifted to impact. Vietnamese businesses have moved from asking "Should we try AI?" to "How do we scale what is working,” he said. “The next wave will reward businesses ready to scale.”

Amazon Web Services (AWS) Cloud and AI Day Hanoi on September 29. Photo: AWS

Moving beyond experimentation

He presented findings from the Unlocking Vietnam’s AI Potential 2026 study, released at AWS Cloud and AI Day Hanoi, highlighting the rapid uptake of AI among Vietnamese businesses. Some 26 per cent of businesses, equivalent to around 245,000 enterprises, have adopted AI, with 78 per cent of adopters expecting AI-driven growth over the next year.

Conducted by Strand Partners, the study surveyed 1,000 business leaders and 1,000 members of the public to assess AI and cloud adoption across Vietnam.

Among AI adopters, 73 per cent consider the technology critical or important to their business strategy, while 72 per cent report productivity gains, up from 66 per cent last year. Meanwhile, 64 per cent say AI has boosted revenue, with an average increase of 15 per cent.

He highlighted TCBS and VPBank as examples of Vietnamese businesses using AI to accelerate development, improve efficiency, and strengthen competitiveness.

Techcom Securities JSC (TCBS) launched Vietnam’s first fully online initial public offering (IPO) subscription service as one of three major capabilities delivered in a single quarter, supported by AI. More than 460 TCBS employees now use Kiro, AWS’s agentic AI-powered software development environment, reducing development time by nearly 25 per cent, with 70 per cent of AI-generated code passing initial reviews.

Trinh The Thanh, head of technology at TCBS, highlighted the company’s rapid expansion. “Over the five-year period from 2020 to 2024, our customer base grew ninefold. By the end of 2024, we reached the milestone of one million customers for the first time. Concurrently, regarding stock trading market share, we rose from zero to the top three - a truly remarkable growth achievement.”

VPBank has also turned to AI to improve efficiency across its operations. Previously, AI initiatives were fragmented across departments, including customer service, sales, operations, legal, and compliance.

To address this, the bank partnered with OneByZero and AWS to develop the NEO Agentic AI Platform, built on Amazon Bedrock AgentCore. The platform brings together enterprise data, knowledge bases, reusable capabilities, and governance safeguards, enabling teams to develop and deploy AI assistants more quickly while scaling solutions consistently across the organisation.

Eric Yeo, country general manager, AWS Vietnam. Photo: AWS

“While momentum is building, sustaining it will take more than ambition. As more businesses move from experimentation to implementation, three foundations will determine their pace: a clear AI strategy backed by governance, reliable ways to measure return on investment, and the right skills to use AI responsibly,” Yeo said.

Different businesses, different journeys

According to AWS, Vietnam’s businesses have ambitions to transform with AI, with 69 per cent of businesses saying AI adoption is a top or high priority, and 84 per cent expect their use of AI to increase over the next year. This adoption spans large enterprises, small and medium-size enterprises, and AI-native startups, with each of them having their own priorities and needs. Even though 61 per cent of AI adopters say they're still experimenting, the early returns are promising with 71 per cent reporting that their AI investment has either broken even or delivered a positive return.

Among sectors, the healthcare and financial ones are showing how that ambition is shaping up. Specifically, in financial services, 41 per cent of businesses have adopted AI, compared with 26 per cent overall, and 79 per cent report productivity gains.

In healthcare, 23 per cent have adopted AI, compared with 26 per cent overall, and 69 per cent report productivity gains.

Some of Vietnam’s businesses have already embedded AI agents into their workflows, accelerating innovation and supporting international growth. Accordingly, 38 per cent of businesses surveyed have heard of agentic AI. Of those, 8 per cent have already embedded AI agents in core workflows, and 19 per cent are experimenting with or piloting them.

Early movers are reaping outsized rewards, with 81 per cent experiencing overall productivity gains. Among these businesses, 68 per cent of adopters report increased operational efficiency or productivity, 61 per cent report faster decision-making and execution, and 49 per cent report improved scalability of operations.

NoteX is an AI-powered voice intelligence and speech platform built in Vietnam and scaling globally. Running on AWS, it has reduced its AI processing costs and latency by 30 per cent and scaled to over one million users across Vietnam and over 20 countries in its first year.

Built on AWS services including Amazon Bedrock and Amazon SageMaker, NoteX trains and deploys its own voice models at scale. This allows its two-way voice translation tool, Saydi, to deliver accurate multilingual live translations and automatically identify different speakers across Vietnamese, English, and Japanese conversations in natural voice outputs. It also runs on the AWS Local Zone in Hanoi to serve data residency needs of regulated industries.

“AWS gives us the infrastructure to train, deploy, and scale our proprietary voice models across over 20 countries without managing foundational model infrastructure ourselves, allowing us to focus on our tech while reducing costs. With the AWS Local Zone in Hanoi, we run our proprietary language models closer to regulated Vietnamese customers. This allows us to deliver low latency and full compliance while scaling across 20+ countries at lower cost.” said Nguyen Luu, CEO, NoteX & Saydi.

Accelerated journey of AI-native startups

Vietnam’s AI-native startups are outpacing their peers. Free from legacy IT, they are shipping AI-powered products that scale faster and reach further. As a result, these cloud-first startups have reported 147 per cent average annual revenue growth in the past year.

They are also 4.8 times more likely to earn more than $1 million in annual revenue, and 96 per cent expect AI to drive revenue growth in the coming year. 74 per cent of startups say that their timelines for innovation are accelerated thanks to AI, compared to 66 per cent across all businesses.

Diaflow shows what’s possible. Founded by a Vietnam-based team, this enterprise AI agent orchestration service already counts over 40,000 users, 75 per cent of them in the United States. Built on Amazon Bedrock, Diaflow handles agent orchestration and governance while giving customers the freedom to adopt frontier AI capabilities of their choice. Users have executed over 100 million AI tasks to date.

Yeo added that what is evolving, however, are the types of AI skills required. As AI systems become more capable, businesses have identified that human judgement is the critical capability for an AI-enabled workforce. 62 per cent of business leaders say critical thinking and judgement will be crucial, while 57 per cent of leaders say the ability to interpret, validate and importantly challenge AI-generated outputs will become more important in the next five years.

“Vietnam's goal of becoming an ASEAN AI hub by 2030 is on track, marked by strong interest and adoption of the technology,” he said. “Every organisation is at a different point in its AI journey, but the direction is clear. Businesses that move thoughtfully from experimentation to implementation, supported with cloud infrastructure, regulatory clarity, and skills will be best positioned to compete and grow."

The package will be subject to international open bidding, a one-stage, two-envelope method, and will not be conducted online. The package value is $914.692 million, with a lump-sum contract and a 36-month implementation period. The expected closing time for bids is on November 6.

Previously, on August 27, the Ministry of Industry and Trade issued Official Letter No.6909/BCT-DKT announcing the results of the feasibility study assessment.

According to technical documents, the project will be located in Vung Ang Economic Zone, Ha Tinh province, connected to the Son Duong sea area. The project includes two LNG storage tanks, each with a capacity of 200,000 sq. m, for a total storage capacity of 400,000 square metres; the maximum designed throughput capacity is three million tonnes of liquefied natural gas (LNG) per year.

The port system can receive LNG carriers up to 123,000 DWT, corresponding to a carrying capacity of approximately 217,000 sq.m. The project scope also includes an LNG receiving, storage, and regasification system, marine structures, pipelines, metering and control equipment, fire protection systems, and other auxiliary items.

These components are designed and operated in a coordinated manner, from receiving LNG via ships, storing it at low temperatures, to regasification and delivering the gas to consumption points.

According to information published on the National Bidding Network, the project comprises 14 packages, with a total value of $923.343 million.

These packages cover everything from mine clearance and site preparation to design, procurement, construction, and commissioning; they also include consulting packages for project management, quality management, construction insurance, registration, maritime work, environmental monitoring, design verification, and final audit.

Some other packages are looking for contractors for several packages in the fourth quarter, including the mine clearance and explosive ordnance disposal package ($4.75 million), the site preparation and levelling package ($2.28 million), and the international quality registration package ($1 million).

The largest engineering, procurement, and construction (EPC) package, worth over $914.69 million, plays an important role in the project's development; the remaining packages serve the preparation, control, and support of the project implementation process. Vung Ang LNG terminal is intended to serve the fuel needs of the Quang Trach II, Quang Trach III, and Vung Ang III power plants, and supply industrial production in the region.

Amid disruption to the international energy supply chain and transportation, the addition of LNG import and storage infrastructure is significant for diversifying gas sources in the north central region.

During the bidding period for the EPC package, a number of interested contractors proposed extending the bidding deadline. One contractor cited the deadline stipulated in the bidding documents as November 6 and requested an extension to January 15, 2027, equivalent to a 70-day extension, citing the need for more time to prepare the best possible bid documents.

AFRY awarded design contract for LNG project Swedish engineering services firm AFRY on August 31 announced that it had been selected as international technical advisor for the Thai Binh liquefied natural gas power facility in Hung Yen province.

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

JBIC considers new financing options for Vietnam’s energy projects Vietnam’s substantial capital requirements for achieving high economic growth are driving efforts to diversify domestic and international funding channels. The Japan Bank for International Cooperation has expressed its readiness to support Vietnam in energy and infrastructure projects, as well as efforts to raise capital in international markets.

LNG power plant projects risk falling behind schedule Of the 18 liquefied natural gas (LNG) power plant projects with a total capacity of over 20,000 MW, only two have commenced construction, and only the Hiep Phuoc LNG project is assessed as likely to be on schedule.

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

Rather than focusing solely on sector-specific discussions, the event provides a space for businesses, startups, investors, public-sector representatives, and educational institutions to meet, exchange insights on practical needs and explore cooperation opportunities across multiple sectors.

France-Vietnam Forward 2026 has two key activities: French Tech Summit, focusing on technology and innovation; and Job & Education Fair, connecting talent with businesses and educational institutions.

The French Tech Summit brings together experts and businesses to discuss the application of technology across five focus sectors: transportation, industry, construction, health, and fintech.

Topics range from the future of rail infrastructure, industrial transformation and sustainable construction to digital health and fintech, highlighting the potential for technology and innovation to address specific development needs.

The programme features businesses and organisations including VNVC, FPT Corporation, Ekino, Serdao, Renova Cloud, Schneider Electric Vietnam & Cambodia, Thales Vietnam, Aden Vietnam, SHB Bank and Ledger Enterprise.

Alongside the panel discussions, ZEBOX Challenge for Impact, announced its winning startup, creating further opportunities for startup solutions to connect with businesses and partners across the ecosystem.

According to Thibaut Giroux, chairman of French Chamber of Commerce and Industry in Vietnam (CCIFV), the challenge now is not simply to establish connections between the two countries' business communities, but to turn those connections into tangible opportunities for cooperation.

“Businesses need more than one-off meetings. They need a platform where they can identify the right partners, access technology and resources, and explore actionable opportunities for collaboration. France-Vietnam Forward was created with this in mind, bringing innovation, business and talent development together in one space,” said Giroux.

Alongside the technology forum, the Job & Education Fair focuses on another important dimension of economic cooperation: connecting businesses' workforce needs with the skills, career aspirations and learning opportunities of the workforce.

For France-Vietnam cooperation to continue to grow, it is important to connect businesses with talent equipped with the right skills and an international outlook. Employers are looking not only for candidates with professional expertise, but also for people who can adapt, learn and work in multicultural environments.

“The Job & Education Fair creates opportunities for both sides to meet directly, helping businesses connect with suitable talent while giving young people a clearer understanding of the skills and career opportunities sought in international markets,” said Giroux.

French ambassador to Vietnam Didier Le Bret said that whether in the fields of education, training and research, or at the corporate level, France and Vietnam have long-standing innovation partners.

Furthermore, France, ranked 13th in the 2026 Global Innovation Index, is a global technology leader, notably thanks to the creation of 55 competitiveness clusters bringing together companies, research and training centres, and thanks to the French Tech network, of which French Tech Vietnam is a member.

“We are ready to share our experience in innovation governance and to welcome Vietnamese entrepreneurs into our ecosystem,” Bret said.

“The theme of innovation was also a big topic of President To Lam's recent visit to France: not only was innovation mentioned in the Joint Declaration on accelerating the implementation of the Global Strategic Partnership between France and Vietnam, but President To Lam also devoted part of his programme to visiting the Paris-Saclay science and technology cluster and the French Alternative Energies and Atomic Energy Commission."

Tran Trong Tuyen, deputy director of the Ho Chi Minh City Department of Science and Technology, said that Ho Chi Minh City was entering a new phase of development, with a focus on transforming its growth model towards one driven increasingly by knowledge, technology, innovation, and human capital quality.

“As one of Vietnam’s major economic, scientific, technological, and innovation hubs, the city identifies science, technology, and innovation as key drivers of productivity, competitiveness, the creation of new added value, and sustainable development,” Tuyen said.

In this process, he added, international cooperation plays a particularly important role. France has strong capabilities in sci-tech, higher education, applied research, and the development of innovative enterprises. These are areas with considerable potential for deeper cooperation with Ho Chi Minh City.

“We expect closer links between France’s science, technology, and innovation ecosystem and the city to create further opportunities for substantive cooperation, ranging from joint research and technology transfer to new product development, investment connectivity, and market expansion for businesses on both sides,” Tuyen said.

Ho Chi Minh City seeks to strengthen links between French technology companies and local businesses, universities, research institutes, and innovation centres. This will help develop concrete cooperation projects that are viable, scalable, and capable of delivering tangible socioeconomic benefits.

“Beyond technology, we are also keenly aware that high-quality human resources are a decisive factor in the ability to adopt, master, and develop technology. Cooperation between businesses, universities, and research institutes should therefore be further strengthened, with training aligned more closely with practical needs, greater exchanges of experts and knowledge sharing, and more opportunities for young people to participate directly in research, development, and innovation activities,” he said.

France-Vietnam Forward 2026 discussed on technology, innovation, business development and talent development. Photo: CCIFV

France-Vietnam Job Fair held in HCM City, offering over 200 jobs A France-Vietnam Job Fair was held in Ho Chi Minh City on May 13 by the French Chamber of Commerce and Industry in Vietnam (CCIFV) and the Institute of Cultural Exchange with France (IDECAF).

Extensive networks ensure thriving France-Vietnam ties As Vietnam ramps up efforts to attract high-quality foreign investment and drive its green transition, French businesses are seizing the moment to deepen their footprint in key sectors. Adam Koulaksezian, executive director of the French Chamber of Commerce and Industry in Vietnam told VIR’s Nha Phuong how high-level visits mark a turning point for bilateral economic ties.

The groundbreaking ceremony in Hanoi. Photo: Bich Thuy

In terms of scale, the building has a total investment of over VND1.31 trillion ($52.4 million), covering total area of approximately nearly 70,000 square metres. The project implementation period is approximately 12 months.

Speaking at the event, Truong Viet Dung, Vice Chairman of Hanoi People’s Committee, explained that today’s groundbreaking ceremony marks a significant milestone – a model of cooperation between a proactive, facilitating government and a pioneering enterprise – and serves as the starting point for a much longer journey.

From this moment forward, what the city anticipates is not merely the timely completion of the project, but the rapid emergence of a competitive technology hub capable of attracting top talent, mastering advanced technologies, and generating new economic value.

“This project must be developed rapidly, but more importantly, it must be infused with substantive technological activity – attracting talent, tech enterprises, research institutes, universities, and international partners. It must foster genuine research, tangible products, real-world markets, and concrete economic value. The city also looks to FPT to bring its very best here: its technological capabilities, global network, team of engineers, expertise in human resource development, and a spirit that embraces venturing into new, uncharted fields,” he stated.

Truong Viet Dung, Vice Chairman of Hanoi People’s Committee. Photo: Bich Thuy

In line with this vision, fields such as AI, semiconductors, quantum technology, unmanned aerial vehicles, and other emerging strategic technologies will not merely be showcased through models or events; rather, the goal is for them to be researched, developed, tested, and applied directly within the ecosystem.

The digital technology building is part of the FPT Digital Technology Park project located in Phu Dien and Tay Tuu wards, Hanoi. Nguyen Van Khoa, CEO of FPT, said, “Hanoi has long been recognised as a hub for knowledge, science, and high-quality workers. We deeply value this and are grateful to the leadership of Hanoi, as well as the various departments, agencies, and local authorities, for their support in overcoming obstacles and enabling the project to reach today’s groundbreaking milestone. This site now marks the beginning of a new journey – one dedicated to developing people, fostering technology and knowledge, and cultivating new resources for the socioeconomic development of the capital.”

Conducted by DXL Research and Consulting, the Q3 BCI report points to a clear priority for Vietnam’s next growth chapter: ensuring that economic momentum is matched by more predictable, efficient conditions under which businesses operate, invest and create value.

The BCI eased by 1.4 points from 79.7 in the second quarter, indicating a modest adjustment. While 64 per cent of respondents describe their current business situation as good or very good, a substantial neutral bloc (28 per cent) highlights a wait-and-see attitude as international demand remains plateaus and businesses look for policy momentum to translate into faster procedures and more predictable outcomes.

Sector analysis tells a more varied story. The agriculture and food value chain recorded the strongest improvement, rising 11.7 points to 83.9, despite continued pressure on input costs and competition from regional imports.

Trade, logistics and consumer goods also remained strong, reflecting Vietnam’s role in regional production and cross-border commerce. By contrast, tourism and hospitality fell 22.5 points to 67.9 after a strong previous quarter. Its decline highlights how quickly consumer-facing businesses can feel the effects of changing spending patterns, operating costs, and external disruption, including recent extreme weather.

Market exposure also shapes sentiment. Businesses focused on Vietnam recorded confidence of 80.4, compared with 73.2 among EU-focused firms, 70.7 among US-focused firms and 73.9 among ASEAN-focused firms. These differences are consistent with the uneven pressures facing businesses across markets, although the survey does not establish a single cause.

EuroCham Chairman Bruno Jaspaert commented that Vietnam’s is on a remarkable winning streak. With GDP growing by 9.95 per cent on-year in Q3 and by 9.01 per cent over the first nine months, the country is moving closer to its ambition of double-digit growth at a time of considerable global uncertainty.

“While we celebrate this momentum, national growth figures do not tell the whole story. Local supply chain managing rising raw material and salaries costs, manufacturing plants importing their next production line and re-engineering their sourcing grounds, or an F&B distributor facing weaker demand and new taxes: they all face pressures that can limit the businesses' ability to contribute to, and benefit from, growth. The important task now is to make growth more tangible across the economy: by improving predictability, strengthening resilience and consolidating reforms, enabling businesses to devote more of their energy to creating value,” he said.

Despite the challenges businesses face today, confidence in Vietnam’s future remains strong. Nine in 10 respondents would recommend Vietnam as an investment destination; 63 per cent plan their operations for more than five years, and 23 per cent look beyond a 20-year horizon.

Vietnam’s appeal is praised for a combination of practical strengths and long-term potential. Human capital (52 per cent), cost competitiveness (51 per cent) and political and macroeconomic stability (44 per cent) remain leading competitive advantages, complemented by its domestic market (42 per cent), the large network of free trade agreements (33 per cent) and its strategic position amid shifting global supply chains (30 per cent).

Sustainability is also emerging as part of the investment proposition: nearly one in five respondents recognise the government’s commitment to sustainable growth, with this consideration more prominent among large enterprises.

As businesses reconsider supply chains in response to global tensions and shifting trade relationships, Vietnam is increasingly positioned as more than a competitive production base: it has become a strategic hub connecting regional growth with global markets. The rise in registered foreign direct investment to close to $50.4 billion in the first nine months of 2026, alongside more than $21 billion in realised investment, a five-year-high, adds to this picture of sustained investor interest.

Yet confidence is not uniform across the business community. While 97 per cent of companies with more than 500 employees would recommend Vietnam as an investment destination, smaller firms are more cautious. This gap highlights an important priority for Vietnam’s next phase of growth: ensuring that businesses of every size can navigate the operating environment and contribute to the country’s development.

Resolution No.10/NQ-TW offers a timely opportunity to recognise and strengthen these complementary contributions. By emphasising investment quality, technology transfer, innovation and domestic supply chains, it encourages a broader measure of investment success; one that considers not only capital attracted, but also the capabilities, knowledge and opportunities created within Vietnam’s economy.

Businesses are clear about what would help them invest and operate with greater confidence. Faster administrative decisions are cited by 37 per cent of respondents, while 35 per cent call for better alignment with international standards and another 35 per cent prioritise faster, fully digitalised government services.

The priorities vary across sectors and company sizes. Faster decisions matter particularly in Agriculture, Business Services and Manufacturing; standards alignment is especially relevant to Healthcare and Trade; and digitalisation leads among Tourism businesses. Smaller firms place greater emphasis on faster decisions and more efficient tax and customs processes, while mid-sized and larger businesses also highlight digitalisation and meaningful regulatory consultation. The common thread is a desire for a business environment in which time and resources can be directed towards building the future, rather than navigating uncertainty.

Xavier Depouilly, general manager of DXL Research and Consulting, noted, “This quarter’s BCI once again highlights a persistent concern for businesses in Vietnam. Despite major administrative reforms and ongoing digitalisation, businesses continue to report overlapping requirements, with online procedures often accompanied by paperwork. Beyond the overall figures, the BCI reveals how these challenges differ across sectors and business sizes. By identifying where the main constraints lie, the research provides valuable evidence to help policymakers better understand the practical barriers facing investors and small- and medium-sized enterprises, and support more targeted improvements to Vietnam’s business environment.”

EuroCham Chairman Bruno Jaspaert concluded, “A strong partnership is much like a tree: its value lies not only in how tall it grows, but also in the roots it puts down and the shelter it offers beyond itself. Many European businesses see Vietnam as a place to put down roots for the long term, growing alongside Vietnamese partners and contributing to a future neither could build as strongly alone. But strong roots need a supportive environment to flourish. And in this particular case, we need to tell the world, especially Europe, how easily trees can take root in Vietnam.”

More than 100 shrimp and rice businesses improve working conditions and ESG practices. Photo: Thanh Tra

Implemented from 2022 to 2026, the project benefited more than 23,000 workers, over 55 per cent of whom were women. Nearly 4,000 workers directly participated in training courses covering workplace skills, occupational safety and health, and related topics.

The project established 10 pioneering business models and supported four businesses in piloting sustainable management practices under the environmental, social, and governance (ESG) framework. All four completed independent ESG assessments with positive results.

In addition, more than 30 shrimp and rice cooperatives were connected with commercial partners, helping improve market access and supporting more stable livelihoods for producers. Through training and consultancy, cooperatives and farmers also strengthened their capacity to adopt safe production practices, develop brands, and improve product packaging and labelling.

Tran Ngoc Liem, deputy secretary-general of the VCCI and director of VCCI’s Ho Chi Minh City branch. Photo: Oxfam in Vietnam

Tran Ngoc Liem, deputy secretary-general of the VCCI and director of VCCI’s Ho Chi Minh City Branch, explained that shrimp and rice are two vital agricultural sectors, making significant contributions to food security, exports, and socioeconomic development, particularly in the Mekong Delta.

However, most processing businesses in the two sectors are small or medium-sized, with limited investment resources and management capacity. Some struggle to fully comply with labour and occupational safety and health regulations, including requirements relating specifically to women workers.

Working conditions also present occupational risks. Shrimp processing workers often operate in cold, humid environments and stand for extended periods along production lines. Meanwhile, workers at rice processing facilities may be exposed to dust and noise for extended periods. Production pressures, overtime, and insufficient rest can also affect workers' health and the sustainability of their employment.

"Major markets, such as EU, the United States, and Japan, are no longer focused solely on quality and price; they now impose rigorous standards regarding social responsibility, occupational health and safety, environmental protection, and transparent governance, in line with ESG criteria," he said.

"Domestically, consumers are also placing greater emphasis on food safety, quality, and product origin. Furthermore, labour shortages are exerting additional pressure on both sectors."

According to the 2025 Census on Agriculture and Rural Areas, the workforce in the agriculture, forestry, and fisheries sector declined by 2.84 million people, a reduction of almost 15 per cent, between 2016 and 2025. Consequently, recruiting and retaining workers has become a major challenge for many businesses and cooperatives operating within the shrimp and rice value chains.

Vu Thi Quynh Hoa, national director of Oxfam in Vietnam. Photo: Oxfam in Vietnam

According to the project’s implementing partners, one of its key achievements has been helping businesses recognise that working conditions, occupational safety and health, and social protection are not merely compliance requirements. They can also directly influence business performance and the ability to participate in international supply chains.

Vu Thi Quynh Hoa, national director of Oxfam in Vietnam, said business competitiveness was determined by more than productivity, costs, and product quality. As sustainability, traceability, social responsibility, and ESG requirements increasingly become part of global trade, workplace quality and investment in workers are also competitive advantages.

“Competitiveness and responsibility towards workers are not separate objectives,” Hoa said, noting that the two reinforced each other. "Businesses that prioritise workers are better positioned to meet increasingly stringent market and global supply chain requirements."

The project’s implementation has demonstrated that improving occupational safety and health can help businesses reduce risks, maintain a stable workforce, and enhance product quality. Policies that respond to workers’ needs, particularly those of women, can also help businesses build more equitable and sustainable working environments.

Under the project, workers at shrimp and rice processing facilities received training to strengthen their knowledge and skills in occupational safety and health, including the safe operation of equipment and first aid. State officials responsible for occupational safety were also provided with additional training through activities coordinated with relevant authorities.

Initiatives specifically targeting women workers were expanded to strengthen their participation and voice within businesses, cooperatives, and trade unions. One example was the weekend programme Chuyện nhà, chuyện xưởng (Stories from Home and the Workplace), which provided women workers with a space to share knowledge and skills related to healthcare, as well as managing workplace pressure and stress.

In parallel, the project promoted responsible business practices through multi-stakeholder initiatives, connections among businesses across the shrimp and rice value chains, and support for improving internal policies and procedures.

At the four businesses piloting ESG practices, consultancy helped progressively strengthen management systems and environmental and social policies, while establishing short-, medium-, and long-term sustainability goals. The businesses also received support to improve their capacity to meet standards relating to food safety, occupational safety, and social responsibility, including ISO 22000, ISO 45001, and Sedex-SMETA.

"The pioneering models demonstrated that the gap between compliance requirements and actual business practices could be narrowed when businesses made a commitment, invested resources, and received appropriate support. Sharing lessons from these models could help spread good practices throughout the value chain," Hoa said.

Photo: Oxfam in Vietnam

Beyond direct support for businesses, the project focused on strengthening connections between processors, cooperatives, and farmers to improve market access and sales opportunities.

Cooperatives and farmers received consultancy on safe food production practices, brand development, and product packaging and labelling. Study visits and networking activities at the Vietshrimp exhibition also created opportunities for participants to access market information and expand commercial relationships.

At the policy level, VCCI worked with the Department of Home Affairs of Can Tho City to organise an interprovincial workshop on occupational safety and health in the shrimp and rice value chains. Held in response to the Action Month for Occupational Safety and Health and Workers’ Month, the event brought together experts from the Ministry of Home Affairs.

Dialogue on rice value chain linkages, organised by VCCI in coordination with the An Giang Farmers’ Union and the Institute of Agricultural and Environmental Policy and Strategy, also helped strengthen exchanges among stakeholders, with a view to improving production conditions and developing value chains.

These achievements provide a foundation for continued support to shrimp and rice businesses as they strengthen management capacity, improve sustainability policies, and meet export market standards. However, scaling up these models will require businesses to invest proactively, alongside closer cooperation among regulatory authorities, industry associations, support organisations, and supply chain partners.

According to British Ambassador to Vietnam Iain Frew, over the past four years, the Climate Finance Accelerator (CFA) has supported 34 ground-breaking businesses that are helping to accelerate Vietnam’s private sector-led green growth ambition.

“The businesses this year are offering pioneering solutions, from sand-based heat batteries and fruit-peel packaging to insect-based waste recycling and low-carbon rice farming, to unlock climate action while creating new jobs, services, and critical infrastructure. I wish them every success in raising finance, drawing on their tailored CFA support,” Frew said at the event.

Abhinav Goyal, director, Capital Projects & Infrastructure, PwC Vietnam and CFA Vietnam Team Leader said that the eleven businesses participating this year represent a promising pipeline of climate investment opportunities that can contribute to Vietnam's decarbonisation goals.

“As investor interest in sustainable and impact-driven projects continues to grow, initiatives such as the CFA play an important role in bridging the gap between innovative businesses and sources of capital. We are encouraged by the growing interest from investors and look forward to supporting these businesses as they continue their growth and fundraising journeys,” Goyal said.

Abhinav Goyal, director, Capital Projects & Infrastructure, PwC Vietnam and CFA Vietnam team leader. Photo: CFA Vietnam

CFA Vietnam’s 2026 cohort operates across a diverse range of sectors, including clean energy, electric mobility, the circular economy, sustainable agriculture, and sustainable construction materials, highlighting the breadth of climate solutions being developed in Vietnam.

Speaking to VIR, Ted Kim, CEO of Viet Smart Mobility, a company providing green transport infrastructure and shared mobility services, said the company was rolling out its GCOO shared electric bicycle service in Vietnamese cities, offering a low-emission transport option for tourism and first- and last-mile journeys.

According to Kim, growth potential and conditions for expansion Vietnam has strong potential for shared e-bikes connecting public transport, tourism and everyday journeys.

“Our ambition is to build on Hue’s operating foundation and expand progressively to 12 tourism cities,” Kim said.

In Hue, Viet Smart Mobility is developing transfers with tourist electric boats serving the Imperial City area and discussing connections with forthcoming electric buses and sightseeing services.

“The next opportunity is cooperation around people’s lifestyles: metro–bus–GCOO transfer discounts and packages combining hop-on/hop-off day passes with e-bike access,” Kim said.

Through CFA, Kim seeks to translate operating experience into an investable business model, robust financial planning and measurable climate outcomes, while connecting with suitable equity and climate-finance partners.

“Equity would support our Vietnam-specific app, customer experience and organisational capacity; complementary financing would support vehicles, batteries and stations. This includes simpler registration, payment and web-based access, addressing barriers we have encountered in practice,” he said.

His biggest challenges are financing infrastructure before demand matures, securing stable operating locations and turning local partnerships into coordinated implementation.

“We need practical arrangements covering station access, charging, safety and transfers. Our goal is a shared growth platform where local businesses participate and benefit. CFA can help us establish the financial discipline, impact measurement and investor connections needed to scale this approach responsibly,” he added.

Another business in the programme is Phuc Sang Minh Gas which helps industrial customers transition to lower-carbon fuels through integrated gas infrastructure and technical expertise.

Vu Van Nam, chief commercial officer of Phuc Sang Minh, told VIR that Vietnam had significant potential for raw biogas from farms and wastewater and waste treatment plants, but the resource remained largely untapped.

Industries that could use biogas or bio-methane include those that are difficult to electrify or transition to solar and other energy solutions, such as steel and metal roofing production, as well as food and beverage manufacturing.

Switching from coal to natural gas can reduce lifecycle greenhouse gas emissions by approximately 30–40 per cent, while waste-derived BioCNG has the potential to achieve reductions of 70–90 per cent compared with conventional natural gas under well-managed production conditions.

“Our main objective in joining the CFA programme is to seek international funding, particularly impact investment that delivers environmental benefits and supports the green transition,” Nam said.

The company has also received practical support from the programme, particularly through in-person training sessions and expert advice. These activities have helped it refine its business model and financial projections, improve its investor outreach and present its projects more clearly to potential investors.

“I believe access to early-stage capital is one of the key barriers. Businesses spun off from existing organisations may have certain advantages in raising funds. However, for startups developing new technologies, government support is essential, particularly through pilot programmes and small-scale seed funding. This would enable businesses to continue testing, refining and deploying new technologies,” Nam said.

Nam is currently estimating a funding requirement of around $5 million for his company’s project spin off. In addition to direct equity investment, he also hopes to raise capital through loans from financial partners.

Funded by the UK government, the CFA programme provides individual and group support to promising climate businesses to strengthen their investment readiness, refine financial structures, and enhance appeal to financiers.

Through tailored advisory support and structured capacity-building activities, participating businesses receive assistance in evaluating financing options, strengthening financial models, refining investment propositions and preparing investor-facing materials.

The programme also supports businesses in strengthening environmental and climate considerations, as well as gender equality, disability and social inclusion practices that are increasingly important to investors.

Globally, between 2020 and 2024, the CFA supported over 238 climate investment opportunities, helped secure over 65 deals and unlocked over $530 million in investment.

Participants at the CFA Vietnam 2026 Investor Engagement Event in Ho Chi Minh City on 15 October. Photo: CFA Vietnam

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“HORECA – Understanding the Market to Go Further” held on October 15 in Ho Chi Minh City. Photo: ITPC

The conference aimed at helping businesses understand the standards required to enter high-quality supply chains, while enabling hotel and restaurant operators to identify suitable suppliers.

The recovery of tourism, the expansion of hotel, restaurant, café and food and beverage chains, and rising demand for higher-quality experiences are creating new opportunities for Vietnam’s HORECA market. The channel offers significant potential for domestic agricultural produce, processed foods, beverages, and consumer goods.

Le Anh Hoang, deputy director of the Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC), said that, driven by tourism growth and the expansion of the middle class, HORECA was gradually emerging as an important distribution channel with significant potential, alongside traditional retail and e-commerce.

“This trend is expanding beyond major economic centres such as Ho Chi Minh City and Hanoi into localities with tourism advantages, creating more market access opportunities for domestic agricultural produce, processed foods, beverages, consumer goods, and operational services,” Hoang said.

However, Hoang also highlighted the practical requirements facing domestic producers, noting that offering good products alone was not enough to gain a stronger foothold in the HORECA channel.

“This segment demands high standards in product consistency, long-term supply reliability, dependable delivery capabilities, and professional after-sales services. Gaining access to and meeting the requirements of hotel networks, restaurants, and premium dining chains will be an important measure of Vietnamese small and medium-sized enterprises’ ability to meet increasingly stringent standards,” he said.

According to Miquel Angel, a hospitality industry expert and founder of MQL Sustainable Tourism Services, the role of public-private partnerships in bridging connectivity gaps across the sector in recent years was critical.

“Within the closely integrated value chain linking hotels, restaurants, cafés, and catering services with the broader supply chain, HORECA provides a favourable environment for Vietnamese businesses to strengthen their market position and raise brand awareness. In particular, the development of a modern HORECA ecosystem is not driven solely by commercial capabilities, but is also closely linked to sustainability standards, encouraging businesses to adopt waste management practices, conserve resources and protect the environment,” Angel said.

To maximise the benefits of the conference, Angel encouraged businesses to seize opportunities for direct networking and participate in B2B matchmaking sessions at the event.

“Alongside keeping up to date with emerging industry trends, a key factor in achieving tangible business benefits is the ability to translate the solutions and insights gained at the conference into practical action in operations and supply chain management,” he said.

Vo Phuong Vy, HORECA specialist sales manager of Passion Gourmet Food Asia, said HORECA was an ecosystem that created value and experiences for end customers, rather than simply a channel for selling goods.

“Suppliers need to understand the roles of different departments within hotel and restaurant operations. Chefs focus on quality and preparation efficiency; procurement teams prioritise pricing and commercial terms; cost control teams monitor ingredient usage and consumption standards, while management focuses on overall profit margins,” Vy said.

“Businesses therefore need to identify their partners’ specific needs, demonstrate their products’ practical benefits and offer solutions that fit existing operational processes. Simply sending product catalogues without explaining how the products can be applied in practice will limit their ability to persuade potential customers,” she said.

Drawing on her experience in the food-service industry, Vy also highlighted several common shortcomings among suppliers, including competing primarily on price, failing to provide solutions tailored to kitchen operations, lacking customer retention plans, and failing to balance sales growth with profitability and cash flow.

Nguyen Thi Mai Phuong, country director of Basilur Tea in Vietnam, said businesses needed to shift from selling products to providing solutions to capitalise on opportunities.

“Misconceptions that HORECA is reserved for large businesses, that low prices are the main competitive advantage, and that securing a contract automatically constitutes success can cause suppliers to miss opportunities. In reality, different hotel and restaurant segments have their own budgets and requirements, allowing businesses to target markets that match their capabilities,” Phuong said.

Phuong advised suppliers to understand each partner’s operating model rather than simply sending product catalogues and price lists. The requirements for serving tea at a luxury hotel, for example, may differ from those of a restaurant or a mid-sized service chain.

Conversely, procurement teams should share quality standards, budget plans and demand forecasts to help suppliers prepare their stock and ensure reliable supply. Transparency enables both sides to build more appropriate, stable and effective partnerships.

Delegates view products at the event. Photo: ITPC

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Stephanie von Friedeburg, global head of Public Sector Group, Citi. Image courtesy of Citi

“We are seeing a structural shift in global capital markets. Governments are borrowing to fund development, infrastructure and strategic priorities while the private sector is investing heavily in AI and digital infrastructure.

As competition for capital intensifies, access to financing and innovative funding solutions will become increasingly important,” said Stephanie von Friedeburg, global head of Public Sector Group, Citi on the sidelines of the International Monetary Fund and World Bank metings in Bangkok this week.

As elevated USD rates continue to shape funding decisions, sovereign and corporate issuers are increasingly turning to local currency funding markets such as RMB, AUD, HKD, and SGD.

Citi is leveraging its global platform and local market expertise to help clients navigate this shift through tailored multi-currency funding strategies that complement USD issuance, optimise cost of capital and diversify liquidity sources.

Citi also highlighted the growing role of sovereign wealth funds in supporting national development strategies, particularly in the Gulf, where governments are directing more capital towards domestic infrastructure, technology and AI-related investments.

At the same time, Gulf investors continue to play an important bridging role between Western and Asian markets.

The bank is also seeing increased interest from central banks in reserve management and optimisation strategies, particularly around gold holdings.

Rising gold prices are prompting reserve managers to explore solutions such as hedging, liquidity management and borrowing against gold reserves.

“Central banks are increasingly evaluating how to diversify reserves, manage concentration risk and make more efficient use of balance-sheet assets. This includes exploring gold-related financing and hedging strategies as part of broader reserve management objectives,” said Stephanie von Friedeburg.

Furthermore, while discussions about de-dollarisation continue, Citi expects the US dollar to remain the dominant global reserve currency, supported by the depth, liquidity and scale of US financial markets.

For emerging markets, elevated debt burdens and higher borrowing costs are creating pressure on public finances at a time when governments must continue investing in energy, transport and digital infrastructure.

To help address these challenges, Citi is supporting innovative financing approaches, including debt-for-development transactions and liability management exercises.

Looking ahead, Citi expects AI infrastructure, energy security, sovereign financing and debt sustainability to remain key themes shaping investment and policy decisions globally, while public-private partnerships will play an increasingly important role in mobilising capital for long-term growth.

As global financing needs continue to rise, Citi’s international network, capital markets expertise and sovereign advisory capabilities position it to support clients in navigating an increasingly complex and competitive funding environment.

Citi report: Corporates prioritise liquidity as supply chains mature Citi Institute and Citi's Services business have released a new report examining how corporate priorities are evolving as global supply chains mature.

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Citi appoints Michael Zezas as global head of research Citi announced on October 12 that Michael Zezas will join the firm as its new global head of research. The appointment reinforces Citi’s commitment to investing in research and delivering timely insights to clients.

Citi honours 13 banks with 2025 STP Awards Citi Vietnam hosted its Financial Institutions Conference and STP Award in Ho Chi Minh City on October 13 and Hanoi on October 14, bringing together leaders and industry professionals from across Vietnam's financial sector to discuss developments in payments, liquidity management, trade finance, AI, data, and financial crime risk.