The International Business Awards (IBA) is one of the prestigious award programmes under the Stevie Awards system. The 2026 edition, marking the programme’s 23^rd year, attracted more than 3,800 participating organisations. Entries were evaluated by over 210 international experts. The list of nominees included major corporations such as IBM, Cisco, and Cathay Financial Holdings.

The IBA 2026 awards ceremony was held in France on October 28. With 31 awards, Viettel has been named the world's most awarded organisation at IBA 2026.

Viettel also takes the lead in the number of gold awards, with 19 gold, eight silver, and three bronze awards, along with one People’s Choice Award. Compared to the previous year, the number of gold awards won by Viettel increased from 8 to 19, nearly double the tally of the runner-up.

Photo: Viettel Global

Viettel Global received a Gold award in the Growth Achievement category, reflecting its sustained business performance and continuous expansion of growth opportunities horizontally and vertically.

The company's revenue rose from $1.19 billion in 2023 to $1.87 billion in 2025. This momentum continues in 2026. In the first nine months, Viettel Global posted a cumulative revenue of $1.62 billion, up 19.4 per cent on-year. The company’s after-tax profit also saw a strong increase of 32 per cent. Its total assets are nearing the mark of $4.26 billion.

These figures demonstrate that the international markets play an increasingly important role in Viettel’s growth. This is reflected in both revenue and the ability to generate cash flow and achieve return on investment. In just two years, from 2024 to 2025, cash flows transferred from overseas markets to Vietnam totalled $854 million, while six markets had reached the break-even point.

Photo: Viettel Global

In 2026, Viettel celebrates 20 years of global business operations, marking its journey into international markets and affirming the position of a Vietnamese enterprise in the telecommunications and digital technology sectors.

Dominica becomes Viettel’s third market in the Americas

Viettel has established Viettel Dominicana in the Dominican Republic, making the Caribbean nation its 11^th market. Viettel’s entry into the new market is expected to create additional competitive momentum for the local telecommunications industry.

Guido Gómez Mazara, chairman of INDOTEL, said, “The regulatory body aims to provide people with high-quality telecommunications services, enhance competition, and optimise costs.”

Tao Duc Thang, CEO of Viettel Group, said, “Winning the tender in the Dominican Republic marked a new milestone in Viettel's international expansion strategy. With more than 20 years of international business operations, the group is pursuing a long-term investment model focused on developing modern infrastructure, introducing new technologies to local markets, and creating sustainable value for residents, businesses, and host economies.”

Photo: Viettel Global

Viettel Global currently has invested in telecommunications and technology in 11 countries across three continents – Asia, Africa, and the Americas. The group holding the top market share position in seven of these markets.

Viettel's international business capabilities have earned recognition not only in global markets but also from the Vietnamese government and the governments of its host countries. To date, Viettel Global and its overseas subsidiaries have received more than 70 honours from foreign governments and 220 prestigious international awards.

In 2026, Viettel Global and Viettel Cambodia achieved a double milestone. Both enterprises received the title of 'Labour Hero' from the Vietnamese government for their outstanding achievements in global expansion, thereby advancing telecommunications infrastructure and technology across international markets.

Viettel Global sets new profit record with sustained overseas growth Viettel Global has reported another quarter of robust growth, continuing its streak of strong performance across overseas markets.

Woori Bank and Viettel Global deepen financial cooperation Woori Bank signed an MoU with Viettel Global on April 22, marking the beginning of a long-term partnership.

Viettel Global posted 30 per cent revenue growth in Q1 On May 4, Viettel Global released its consolidated financial statements for the first quarter of 2026, reporting after-tax profit of VND2.33 trillion ($89.62 million), up nearly six times on-year.

From October 27 to 29, a high-level Vietnamese Customs delegation led by Nguyen Van Tho, director general of the Customs Department, attended the Vietnam-Cambodia Customs Directors General Conference in Phnom Penh, Cambodia. The conference was chaired by Kun Nhem, Minister Attached to the Prime Minister and director general of Cambodia's General Department of Customs and Excise.

At the conference, the two countries' customs leaders discussed developments, modernisation efforts, and key priorities for the coming period. They also reviewed the results of bilateral cooperation and agreed on coordinated activities for 2027-2028.

Both sides commended the efforts of their customs units in providing mutual administrative assistance, facilitating cross-border trade, coordinating anti-smuggling operations, and supporting each other at international customs forums.

Cooperation in investigations and the fight against smuggling remains a key component of bilateral relations. Information exchange, investigative assistance, and verification activities are conducted under the MoU between Vietnam's Ministry of Finance and Cambodia's Ministry of Economy and Finance on customs cooperation and mutual assistance.

Information is exchanged to support investigations into the illicit cross-border transportation of goods, trade fraud, and intellectual property rights infringements. The two sides also cooperate in combating drug trafficking, money laundering, terrorism, and the illegal trade in animals, plants, and products covered by the Convention on International Trade in Endangered Species of Wild Fauna and Flora.

In areas along their shared border, customs authorities maintain information exchanges on border-gate operations, policies and procedures governing imported and exported goods and baggage, and vehicles entering and leaving each country.

Both sides agreed to maintain border-gate operating hours from 6 am to 6 pm, including public holidays and weekends, to address operational difficulties promptly and minimise congestion and backlogs involving goods and transport vehicles.

Photo: Customs Department

For the 2027–2028 period, Vietnam Customs and Cambodia's customs authorities agreed to continue implementing the cooperation memorandum between their respective finance ministries and maintain contact points at all levels to ensure regular and effective information exchange.

The two sides will prioritise coordinated management and trade facilitation for cross-border and transit goods. They will also strengthen information sharing to support risk assessments for exported, imported, and transit goods, as well as vehicles carrying transit cargo.

In addition, both customs authorities will continue coordinating efforts to combat smuggling, trade fraud, and the illicit cross-border transportation of drugs and other goods.

Under the agreed plan, the two countries' customs leaders tasked relevant units with implementing the cooperation measures in a coordinated and effective manner, with a view to advancing the objectives of relevant regional cooperation initiatives.

Stronger coordination in customs management and information exchange is expected to enhance border control while supporting legitimate import and export activities between the two countries.

Cambodia-Vietnam Customs Border Meeting agrees to strengthen cooperation The seventh Cambodia-Vietnam Customs Border Meeting reached agreement on a range of measures to improve professional coordination, information sharing, and efforts to combat smuggling.

Vietnam and Laos customs authorities hold 2026 conference A Vietnamese Customs delegation led by Nguyen Van Tho, director general of the Customs Department, visited Laos to attend the 2026 Vietnam-Laos Customs Directors General Conference.

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

The YS200 combines toe-and-arch kneading rollers, instep air compression, heel scraping, and heel vibration in a single device. Its integrated heel-vibration system complements sole massage, extending the massage experience beyond the soles of the feet.

Key Features of the SKG YS200

• Multi-Zone Massage System: Combines sole rollers, instep air compression, heel scraping, and heel vibration in one device.
• Adjustable Air Compression: Offers three compression intensity levels, allowing users to customize their massage experience.
• Three Adjustable Warming Settings: Offers three selectable temperature settings—107.6°F (42°C), 116.6°F (47°C), and 125.6°F (52°C)—for adjustable warmth across the top and sole of the foot.
• User-Friendly Design: Includes a magnetically attached remote control, an intuitive touch control panel, 15- and 30-minute automatic shutoff timers, and removable, washable foot liners. The device accommodates feet up to US men's size 13 and women's size 14.5 and operates at less than 60 dB under specified test conditions.

Pricing and Availability

The SKG YS200 is available beginning October 28, 2026, at an early bird price of $149.99 (MSRP $199.99) through SKG's official website, Amazon US (use $50 OFF promo code: SKGCODE), and select retail partners.

The event represents a strategic partnership among Bank Indonesia, the Ministry of Trade, the Indonesian Fashion Chamber (IFC), and other stakeholders. Through its Indonesian Sharia Creative Industry (IKRA) program, Bank Indonesia supports the development of the upstream sector, while the Ministry of Trade leverages its overseas trade representatives to facilitate international business matching and expand buyer networks.

A key highlight is the showcasing of Wastra Nusantara (Indonesia's traditional textiles). The diversity of artisan crafts, including batik, silk screen, hand woven, songket, tie dye, and others, served as the sustainable identity of Indonesian modest fashion. These were featured by local designers and brands, including IKRA members.

At the event, renowned designers and IKRA Board members such Ali Charisma, Itang Yunasz, and Wignyo presented their latest collections alongside guest designers from 10 countries, expanding international market partnerships.

To advance Indonesia's position as a global trendsetter in modest fashion, the event featured the Indonesian Modest Fashion Trend Forecasting 2027/2028 seminar. The Ministry of Creative Economy supported this initiative to showcase Indonesian traditional textiles (wastra) and strengthen intellectual property protection for Indonesian designers. Meanwhile, the Ministry of Tourism highlighted the event's potential to attract international tourists through shopping tourism.

As part of the Indonesia Sharia Economic Festival (ISEF) 2026, IN2MOTIONFEST X JMFW presented 20 fashion shows featuring 215 national and international designers and 1,785 creations. It also strengthened B2B infrastructure through Trade Shows, Masterclasses, Industry Forums, and a Buyer program designed for global wholesale and retail access, recording 112 deals in Wastra Business Matching.

As per October 17th, ISEF recorded 93,252 visitors (a 4% year-over-year increase). Retail sales reached Rp13.85 billion, growing by 44.09%, while business matching values hit Rp3.16 trillion.

Through continuous innovation, the event solidifies Indonesia's global competitiveness in the modest fashion industry.

Relates to further information:

Designer Press Releases: https://drive.google.com/drive/u/2/folders/1IRco38RQ4Dj4uWA8bhnJNVdu-B31kcwi

Event Photos: https://drive.google.com/drive/folders/1u0rzq70sLN1aOn2Rw6iHq_ONxgqQ31TL

Located in Cangzhou, Hebei Province, Nandagang Wetland is part of the UNESCO World Heritage-listed Migratory Bird Sanctuaries along the Coast of Yellow Sea-Bohai Gulf of China. In recent years, more than 300 hectares of wetland have been restored. Migratory bird numbers rose from about 20,000 in 2019 to more than 150,000 in 2025, while recorded bird species increased from 268 in 2021 to 274, according to the Cangzhou Natural Resources and Planning Bureau.

Under the theme "Together for Wetlands," the contest welcomes photographs and videos about wetland landscapes, migratory birds, local communities and conservation. It is open to photographers, videographers, nature observers and young creators worldwide.

Reflecting on the inaugural edition, Ma Chaode, Assistant Resident Representative at UNDP in China, said: "Wetlands, one of the three major ecosystems, are known as the 'Kidneys of the Earth.' They have functions like provision, support, regulation and culture, and are the foundation for the sustainable development of human society. The numerous wetland ecological images collected in the event vividly show the real - life beautiful scenery of the harmonious coexistence between humans and nature. It's not only a vivid microcosm of "Beautiful China", but also a typical case for promoting global ecological civilization."

"For me, photography is a way to connect people with nature and inspire its conservation," said Mario Suárez Porras, president of AFONAS and a judge for this year's contest. "I'm excited to see creative works for this year's theme."

The contest is organized by Cangzhou International Communication Center, hosted by Xinhuanet North America, with media support from Xinhuanet Hebei Channel.

Call for Entries

• Theme: "Together for Wetlands"
• Who can enter: Photographers, videographers, nature observers and young creators worldwide
• Categories: Global Wetlands; Wetlands and Migratory Birds; People and Wetlands; Nandagang Wetland; Youth Imaging (under 28); Wetland Conservation Stories (video)
• Submission deadline: November 28, 2026
• Entry fee: Free
• How to enter: Submit at globalsouthernnews.com/ndg2026. Email submissions are available as a backup at cangzhouNDGphotoweek@gmail.com.
• Awards and recognition: A US$1,500 Grand Prize, additional cash prizes, special awards and honorable mentions. Entries will be reviewed by a ten-member international jury.

For complete eligibility requirements, submission instructions, technical specifications and copyright terms, visit globalsouthernnews.com/ndg2026

Organised by Informa Markets in collaboration with AsiaWorld-Expo, TFOC focuses on premium lifestyle, covering themes including superyachts, supercars, fine jewellery and watches, private aviation, premium travel and fine art. Under its "City-as-your-showroom" concept, TFOC breaks from the traditional indoor, single-hall format, connecting exhibition showcases with Victoria Harbour and waterfront experiences so that brands, buyers, connoisseurs and the wider public can take part in the festival in different ways.

High-end exhibitions such as TFOC will bring new business opportunities, attract high-spending business travellers and generate branding impact, fully benefiting Hong Kong's convention and exhibition sector and related industries, driving the sustainable development of the entire industry chain, delivering economic benefits for Hong Kong as a whole, and further consolidating Hong Kong's status as an international convention and exhibition hub.

Making its debut this year, TFOC will also stage three linked events from 1 to 8 November for the public to join. Informa Markets plans to further expand the exhibition's scale and enrich its content next year, bringing more new experiences for buyers, connoisseurs and the public.

Three linked events — how the public can join

TFOC Marina Fest – A Taste of Experience | 1 November 2026
Sunday, 12:00 pm – 4:00 pm | Central Pier No. 10
Members of the public may board THE FLOAT free of charge for a Victoria Harbour cruise (about 1 hour per sailing, including around 45 minutes of cruising). Non-alcoholic drinks and guided commentary are provided on board. Capacity is limited to about 50 passengers per trip; confirmation emails will be issued by 30 October, and only confirmed guests may board.
Register: https://forms.cloud.microsoft/pages/responsepage.aspx?id=ZtVnJUxgikCKYFXQ3J2da_hw6OU3cdZLlrDUFXdzFI5UOUQyM0pIQ01KVEJCV1lXUEUxUUlUMFhGMy4u&route=shorturl

The Festival of Connoisseurs | 4–6 November 2026
AsiaWorld-Expo, Halls 3 & 6
Opening hours: 4 Nov 10:00–18:00; 5 Nov 11:00–18:00; 6 Nov 11:00–17:00
The main exhibition is structured around nine thematic worlds and is aimed primarily at industry, collectors and connoisseurs. Main-show admission requires advance registration and is ticketed. An outdoor designated zone, Marina Showcase, is open to the public free of charge upon advance registration, offering close-up access to superyacht and marine lifestyle displays.
Marina Showcase registration: www.tfochk.com/marina-showcase
Programme and updates: www.tfochk.com
The opening ceremony on 4 November will be attended by senior government officials, Mrs Vivian Cheung Kar-fay, JP, Chief Executive Officer of Airport Authority Hong Kong, and Mr Patrick Martell, Group Chief Operating Officer and Informa Markets Chief Executive, among others. Programme highlights include Carson Chan on watch collecting, Michael Ellis on the Michelin Guide, and Derek Li on the craft of hospitality. Media are invited to the opening ceremony and the subsequent media / VIP tour (Further details will be announced in due course).

The Lantau Yacht Club Boat Show 2026 – Festa Nautica | 6–8 November 2026
Daily 10:00am–6:00pm | Lantau Yacht Club, Discovery Bay
Public event — free admission upon advance registration. Yacht displays, marine technology and lifestyle experiences, bringing yachting closer to the community.
Register: https://www.eventbrite.hk/e/lantau-yacht-club-boat-show-2026-tickets-1998475884167

For more information, visit www.tfochk.com.

As Indonesia's digital economy evolves, businesses increasingly need solutions combining cloud infrastructure, AI, enterprise software and local services. Connecting these complementary capabilities can help providers and partners better address customer needs.

The event featured partner matching, collaborative solution discussions and executive roundtables, offering opportunities to explore technology integration, joint solutions, channel development and local service delivery.

Coremail exchanged perspectives with participants on enterprise communications, data security and digitalisation in Indonesia, exploring opportunities to address evolving business requirements with local partners.

Regan Deng, Vice President of Coremail, emphasised the importance of understanding local markets and customer needs. He noted that combining complementary strengths in technology, products, infrastructure and local services can help businesses develop solutions suited to their operational requirements.

Top, Coremail's Thailand Project Manager, introduced the company's product portfolio, global footprint and partnership opportunities, highlighting its enterprise email communications and security expertise.

Founded in 1999, Coremail's portfolio includes the Coremail AI-Native Secure Email System, CACTER AI-Native Secure Email Gateway, Email Archive System, Email Delivery System and Secure Email Relay. Flexible deployment and integration capabilities help organisations address differing data security, IT infrastructure and business requirements, supporting secure and reliable enterprise communications.

Coremail has established cooperation with Indonesian cloud service provider CBN Cloud to jointly develop a cloud email service platform, combining Coremail's email technology with local service capabilities to support Indonesian businesses.

The roundtable offered opportunities to strengthen local connections and explore further collaboration in enterprise email, email security and integrated digital solutions. Coremail will seek to deepen its Southeast Asian presence and work with local partners to address evolving customer needs through secure enterprise email, email security and AI-enabled solutions.

For more information, please visit: www.coremail.co.th

In the Sleep episode of Bupa's global video series Health or Hype, fitness advocate Joe Wicks took part in a challenge by reducing his sleep to approximately five hours per night over three consecutive days. Observed by sleep specialist Dr Sophie Bostock, the episode documents physiological and behavioural changes during this period, including a marked increase in daily screen time (surpassing 13.5 hours), increased emotional irritability, and pronounced cravings for refined carbohydrates. While individual responses vary, these observations help illustrate the importance of sleep for overall health and daily performance. Drawing on these observations, Bupa Hong Kong explores practical, evidence-informed perspectives to encourage sustainable rest and holistic wellbeing in high-pressure urban environments.

The Domino Effect: Screen Fatigue and Metabolic Disruptions

During the observed challenge, Joe experienced an increased inclination toward refined snacks and extended mobile phone usage throughout the late evening. This may closely reflect the daily experiences of busy urban professionals who habitually go to bed late or have irregular sleep schedules.

From a clinical perspective, Dr Lau Yue Young Geoffrey, Specialist in Family Medicine, explains that several physiological mechanisms are typically at play, "Deep restorative sleep plays an indispensable role in metabolic equilibrium. When sleep is curtailed, appetite-regulating hormones shift—leptin, which signals satiety, declines, while ghrelin, the hunger signal, increases. This hormonal imbalance predisposes individuals to seek quick-energy foods and refined carbohydrates to compensate for low daytime alertness."

"At the same time, sleep deprivation places a significant drain on executive cognitive endurance," Dr Lau adds. "As self-regulation reserves steadily decline across an intense workday, individuals become far more susceptible to late-night passive screen scrolling as an effortless, low-friction form of decompression."

Reframing Rest: An Active Multiplier for Physical and Cognitive Performance

A key perspective highlighted by sleep specialist Dr Bostock is the role of sleep as an active enabler of human performance, rather than simply a passive reset back to baseline. During deep sleep, the brain actively consolidates memories and information to clear learning bandwidth for the following day, while the body carries out cellular and muscular repair.

To help urban professionals build sustainable evening recovery without rigid or unmanageable regimens, Bupa highlights several manageable lifestyle considerations:

• Morning Light Exposure: Spending 10 to 15 minutes outdoors in natural daylight during the morning commute helps calibrate the circadian clock, anchoring daytime alertness and promoting timely evening melatonin onset.
• Offloading Late-Night Thoughts: Working late keeps the mind active. Spending just a few minutes writing down tomorrow's to-do list on paper allows the brain to commit thoughts to the page and release them before turning off the lights.
• Physiological Wind-Down: Gentle physical routines, such as stretching to relieve postural desk tension, slow breathing exercise, or traditional wellness rituals like acupressure at the "Peaceful Sleep" pressure point (located in the soft hollow directly behind each earlobe) can assist the body in transitioning toward nighttime relaxation.

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

For more information, visit www.bupa.com.hk/en/.

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

This year, the forum is held alongside the Ho Chi Minh City Centre for the Fourth Industrial Revolution and the Autumn Economic Forum 2026, with partners sharing a commitment to sustainable, more closely connected regional growth.

In his welcome remarks, Denzel Eades, chairman of BritCham Vietnam, said that Vietnam's economic transformation presents one of the most compelling growth stories in Asia.

“British investors and businesses have been participating in that journey for decades and are committed to deepening their contribution in the years ahead. Through our expertise in finance, innovation, education and sustainable development, we look forward to working alongside government and industry partners to help realise Vietnam's vision of becoming a prosperous, high-value and globally connected economy by 2045,” Eades said.

Iain Frew, British Ambassador to Vietnam. Photo: BritCham

Iain Frew, British Ambassador to Vietnam, noted that bilateral trade in goods and services between the two countries currently stands at $14 billion, double the level recorded in 2020.

“The UK-Vietnam Free Trade Agreement and our shared membership of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership are creating new opportunities for businesses on both sides, helping to reduce barriers, diversify supply chains, and deepen economic integration,” Frew said.

“These figures tell a story of growing trade flows as well as growing confidence. Confidence in Vietnam’s future, confidence in the UK’s expertise and innovative capabilities, and confidence in the value of a long-term partnership between our two countries,” he added.

He added that technological transformation was accelerating, while businesses were adapting to shifting supply chains.

“The transition to cleaner energy is creating entirely new industries. And geopolitical developments continue to remind us of the importance of resilience and trusted partnerships,” he added.

He said the UK stood ready to partner with Vietnam in areas such as developing international financial centres in Ho Chi Minh City and Danang, advancing technology and innovation, and promoting green growth.

Nguyen Cong Vinh, Vice Chairman of Ho Chi Minh City People's Committee, highlighted four key areas of cooperation between the two sides.

These include attracting and maximising high-quality investment linked to technology transfer and stronger connections with domestic businesses, developing capital markets and the city's International Financial Centre, building green supply chains, and developing renewable energy, and nurturing talent and building a sustainable city by 2045.

According to Mariam J. Sherman, World Bank country director for Vietnam, Cambodia, and Laos, Vietnam's GDP per person has increased sixfold since the launch of economic reforms in the 1980s, surpassing $5,000, while extreme poverty has been virtually eliminated.

“Despite continued global uncertainty, Vietnam's economy grew by more than 9 per cent in the first nine months, placing it among the world's fastest-growing economies,” she said.

However, Sherman noted that the model that had brought Vietnam to its current position would not be sufficient to propel the country into the high-income group. She identified three major challenges: the working-age population has peaked, productivity growth remains low, linkages between the foreign-invested and domestic businesses remain limited.

To address these challenges, Sherman proposed mutually reinforcing priorities including creating better-quality jobs, connecting markets, people, and regions, turning climate risks into growth opportunities, and strengthening institutional capacity. She said each priority represented an opportunity for cooperation with the UK.

“Vietnam stands at the threshold of its second great transformation. The first moved workers from the fields into factories. The second must move businesses up the value chain, workers into better jobs, and the state from a role of administration to one of enabling growth,” Sherman said.

In his speech, Kim Byoungho, chairman of the board of HDBank, explained that a deep and globally connected capital market was essential for Vietnam’s transition to a high-income economy.

“UK-Vietnam ties should expand beyond trade and investment to encompass financial and capital market connectivity, with London serving as a gateway for Vietnamese businesses to access international investors and standards. HDBank plans to issue $500 million in international bonds and list on the London Stock Exchange,” Byoungho said.

He also stressed the importance of strengthening links between London and the International Financial Centre in Ho Chi Minh City.

Wanming Du, Asia-Pacific head of index policy at FTSE Russell delivered a speech suggesting Vietnam’s inclusion in the FTSE Global Equity Index Series from September 18 would give the country access to a global investment ecosystem with approximately $20 trillion in assets benchmarked against FTSE Russell indices.

“Inclusion creates an opportunity for capital to flow in, but it does not guarantee that capital will stay. Reclassification has opened the door. The next decade will determine how far Vietnam walks through it,” Du said.

To realise this potential, Du outlined strategic priorities for the next phase, including simplifying market access procedures for international investors, improving trading, settlement, and foreign exchange efficiency, and deepening market liquidity. Strengthening corporate governance and information transparency, while developing the domestic institutional investor base, would also be critical.

Photo: BritCham

UK-Vietnam conference advances IFC roadmap Key issues for Vietnam's International Finance Centre – including the derivatives market, financial supervision, regulatory capacity, and the legal framework for global capital flows – were discussed at a UK-Vietnam conference in Ho Chi Minh City.

Expanding education partnerships to drive mutual growth Vietnam and the United Kingdom are cementing training and education cooperation. Jacqui Smith, the Right Honourable Baroness Smith of Malvern, Minister for Skills at the UK Department for Education, is going to pay a visit to Vietnam to deepen educational cooperation and support national ambitions of making English a second language in schools by 2035.

Building on the inaugural summit in 2025, where resilience, multimodal transport, digitalisation, and supply chain diversification were central themes, this year’s discussion shifted towards the next stage: how businesses can use infrastructure, technology, data, and stronger regional networks to make their supply chains not only more resilient, but smarter.

Photo: HDS International

Vietnam’s logistics landscape is evolving

Vietnam’s importance in global manufacturing is well established, but the logistics ecosystem surrounding it is entering a new phase.

Strong economic growth, foreign investment, and deeper integration into international trade continue to drive logistics demand. At the same time, the country’s logistics map is becoming more diverse. Northern Vietnam is strengthening its role as an industrial hub, supported by electronics manufacturing and connectivity with China, while the south remains a major gateway for international cargo and transshipment.

Large-scale infrastructure development is adding further momentum. Investments in airports, highways, and seaports, including Long Thanh International Airport and the planned Can Gio International Transshipment Port, have the potential to improve connectivity and reshape how companies organise supply chains around Vietnam.

For German and European businesses, this makes Vietnam relevant not simply as an alternative production location, but as part of a broader regional strategy connecting suppliers, manufacturing sites, logistics corridors, and customer markets.

Pacovis-HDS collaboration

The link between logistics efficiency and sustainability came into focus through a best-practice case presented by Pacovis, a provider of food solutions and packaging, and logistics consultancy HDS International.

Andreas Meier, head of Purchasing Team of Pacovis Group, outlined the company’s activities and its completed project with HDS, examining how the partnership helped optimise logistics costs and processes while supporting a more sustainable supply chain.

The case highlighted a practical challenge for businesses: reducing logistics expenditure without compromising service quality. It also placed process improvements alongside cost savings, broadening the discussion beyond freight rates alone.

HDS’ methodology starts with an assessment of logistics structures, tariffs, and transport data to identify savings opportunities. Recommendations are then translated into operational changes, which can include process adjustments, negotiations with existing providers, and competitive tenders. Implementation is followed by a review of realised savings.

For companies navigating uncertain trade conditions, the broader lesson was that supply chain improvement need not begin with a wholesale transformation. A clearer understanding of costs, better-organized processes, and regular review of logistics arrangements can provide a practical starting point.

Photo: HDS International

What will differentiate supply chain leaders by 2030?

One of the highlights of the summit was the panel discussion “What Will Differentiate Supply Chain Leaders by 2030?”, which brought together business and logistics perspectives on how companies can remain competitive amid changing trade patterns, technological advances, and continued uncertainty.

The discussion featured Björn Koslowski, deputy chief representative of AHK Vietnam; Andreas Meier, head of Purchasing team of Pacovis Group; Oliver Ehlers, head of Consulting Sea & Air of HDS International; and Latina Tran, business development manager of HDS Services Vietnam.

At the heart of the discussion was a challenge facing companies across sectors: how to strengthen resilience without losing cost efficiency and competitiveness.

The panel explored the growing importance of end-to-end visibility, AI and digitalisation, diversified sourcing and transport strategies, and closer cooperation between suppliers, logistics providers, and customers.

The discussion reflected a broader shift in supply chain thinking. Rather than attempting to predict every possible disruption, companies increasingly need the visibility, flexibility, and partnerships required to recognise change early and respond quickly.

Moving from reaction to preparation

Translating those discussions into practical recommendations, HDS International highlighted three priorities for building smarter supply chains.

The first is robust transport and route planning. Alternative transport options should be assessed before disruption occurs, with companies considering different modes, contractual arrangements, and the potential costs of sudden changes.

The second is end-to-end transparency. Visibility needs to go beyond shipment tracking to give businesses a clearer understanding of suppliers, inventory, lead times, logistics costs, and transport performance.

The third is continuous review. Freight costs, transport routes, and service-provider performance need to be reassessed regularly as market conditions evolve.

Photo: HDS International

Together, these principles point towards a more strategic definition of resilience: not creating costly backup solutions for every scenario, but understanding where vulnerabilities lie and preparing realistic alternatives.

From resilience to intelligence

The evolution seen at this year’s summit also reflects how the role of logistics itself is changing. At the 2025 summit, participants already highlighted logistics’ transition from a back-office function towards a boardroom-level priority. Today, decisions about suppliers, transport routes, inventory, and logistics technology increasingly affect working capital, customer service, sustainability, and investment strategy.

For Vietnam, this creates an opportunity that extends beyond manufacturing. Its long-term competitiveness will increasingly depend on the infrastructure, logistics services, digital capabilities, and partnerships surrounding production.

For companies operating between Asia and Europe, meanwhile, uncertainty is unlikely to disappear. The real competitive advantage will lie in how effectively businesses can see change coming, understand its implications, and act.

The supply chain leaders of 2030 may not be those that avoid disruption, but those best prepared to respond when it arrives.

HDS Summit spotlights Vietnam’s rising role in regional supply chains Vietnam’s growing importance in regional logistics was highlighted at the inaugural Supply Chain & Logistics Summit, bringing together senior industry leaders from Asia and Europe.

EFTA–Vietnam Free Trade Agreement opens up opportunities to enhance supply chain The EFTA–Vietnam Free Trade Agreement will open up opportunities for Vietnamese products, especially those with supply chains meeting increasingly stringent quality and sustainability requirements in new markets.

AHK Vietnam at 30: a remarkable journey of partnerships In 2024, the Delegation of German Industry and Commerce in Vietnam (AHK Vietnam) celebrates a significant milestone – 30 years of dedicated presence in Vietnam. This journey stands as a testament to our commitment to fostering robust trade cooperation between Vietnamese and German businesses. Throughout this three-decade expedition, AHK Vietnam has been a stalwart companion, witnessing and contributing to numerous milestones in Vietnam’s socioeconomic development.

Advanced technology supports complex procedures

With an investment of more than $3 million, the da Vinci Xi robotic surgical system was introduced at FV in early 2026, paving the way for the official launch of the FV da Vinci Robotic Surgery Centre in March 2026.

The centre offers robotic-assisted surgery across several specialities, including gastrointestinal, liver and pancreatic, urological, thoracic, and gynaecological surgery.

The da Vinci Xi system provides high-definition, three-dimensional images that enable surgeons to visualise anatomical structures clearly, even in deep and confined spaces. Its four robotic arms are equipped with wrist instruments that offer enhanced flexibility and a wide range of motion. Combined with hand tremor filtration and motion scaling, these features help surgeons perform delicate procedures with greater precision. Firefly fluorescence imaging can also help visualise certain vascular structures and assess tissue perfusion in selected cases.

A robotic-assisted procedure at the FV da Vinci Robotic Surgery Centre. Photo: FV Hospital

The application of robotic-assisted surgery at FV has delivered encouraging results. FV statistics show that blood loss was less than 10 ml in more than 35 per cent of robotic surgeries. Many patients undergoing robotic-assisted surgery have shorter hospital stays, with some discharged as early as one day after surgery. The da Vinci Xi system has also enabled surgeons to perform complex major operations, extensive lymph node dissections, and tumour removals in anatomically challenging locations.

One notable case involved a 53-year-old Vietnamese man diagnosed with two synchronous primary cancers: oesophageal cancer and poorly differentiated gastric cancer. He also had a complex surgical history, including a previous Whipple procedure and several other major operations.. These procedures had resulted in extensive adhesions throughout the abdominal cavity, mesenteric retraction, displacement of the colon, and severe distortion of the normal abdominal anatomy.

After undergoing chemotherapy in Singapore, the patient returned to FV Hospital for surgical treatment. With the assistance of the da Vinci Xi system, the surgical team performed an oesophagectomy and total gastrectomy, removed lymph nodes, and reconstructed the upper digestive tract using a segment of the colon through colonic interposition. The procedure also involved multiple complex anastomoses within the abdominal cavity. The patient has since made a remarkable recovery and is gradually returning to his normal activities.

Another case involved a Cambodian woman with thyroid cancer and suspected metastatic lymph nodes deep within the mediastinum on both sides of the chest. Rather than undergoing two separate operations, the FV surgical team used the robotic system to address the suspected metastatic lymph nodes bilaterally in a single operation. The patient was discharged two days after surgery.

Investing in the surgical team

Alongside investment in advanced technology, FV focuses on developing its surgical team through specialised training and international professional exchange. The hospital organises continuing medical education programmes, giving doctors opportunities to update their knowledge of minimally invasive surgical techniques and the application of robotic-assisted surgery.

In May 2026, FV collaborated with the University Medical Centre Ho Chi Minh City to host live broadcasts of da Vinci Xi robotic gastrectomy procedures as part of the 6th Ho Chi Minh City International Gastric Cancer Forum.

FV also provides opportunities for experienced doctors from other medical facilities to participate in training, pursue robotic surgery certification, and gain practical experience in a hospital setting.

Dr. Le Ngoc Diep, Specialist Level II, head of the Endoscopy Department at Tu Du Hospital and a physician collaborating with the FV da Vinci Robotic Surgery Centre, prepares for a robotic-assisted procedure at FV. Photo: FV Hospital

International patients choose FV

Patients undergoing robotic-assisted surgery at FV come from various countries, including Cambodia, the UK, the US, Switzerland, and the Netherlands.

To support international patients throughout their treatment journey, FV provides assistance through a team of specialists and offers direct billing arrangements with more than 100 domestic and international insurance companies, including Allianz Worldwide Care and APRIL.

For Vietnamese patients, the availability of robotic-assisted surgery at FV expands access to advanced surgical techniques within the country, potentially reducing the need to travel abroad for treatment and the associated travel and accommodation expenses.

FV also offers several financial support options, including an FV insurance package with benefits of up to VND700 million ($26,900), a zero interest instalment programme through more than 30 banks, and partial subsidies for selected cancer treatment medications.

New surgical applications

Surpassing 100 robotic surgeries marks an important early milestone in the development of the FV da Vinci Robotic Surgery Centre. FV continues to invest in the technology and expand its applications into new surgical fields, including breast cancer and head and neck cancer surgery.

Dr. Doan Ngoc Giao, head of the FV da Vinci Robotic Surgery Centre, said, “For us, the value of robotic surgery lies not simply in the use of advanced technology, but in its ability to help surgeons perform complex procedures with greater precision. This creates more treatment opportunities for patients. Technology only truly makes a difference when it is applied appropriately and delivers tangible benefits to patients.”

For more information about robotic-assisted surgery, please contact FV Hospital at 06 Nguyen Luong Bang Street, Tan My Ward, Ho Chi Minh City, or call (028) 3511 3333.

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

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

Breakthroughs in radiotherapy technology and new drugs for breast cancer treatment Instead of facing the prospect of having a breast completely removed or enduring prolonged treatment, breast cancer patients now have access to more precise radiotherapy techniques and advanced targeted therapies.

Experts, however, say that for interest rate reductions to be sustainable amid strong demand for capital, the critical task is to unlock non-bank funding channels, particularly the domestic capital market and international capital flows.

As of October 28, more than 20 commercial banks had announced cuts to deposit interest rates, generally by 0.5 percentage points for maturities of six months or longer.

They had also selectively reduced lending rates for priority borrowers following directives from the government and the SBV.

Cutting interest rates is an urgent priority under current conditions to support both businesses and banks. If rates remain elevated at levels approaching the peaks seen in 2022-2023, bad debts could rise rapidly.

Additional funding sources are needed to ensure sustainable rate reductions. Photo: Le Toan

With the gap between outstanding loans and deposits still standing at approximately $60 billion and the annual peak credit season approaching in the fourth quarter, banks remain in acute need of capital.

Although preferential credit packages have had a positive impact on market sentiment, their scale remains small relative to total outstanding loans of more than $800 billion, and they are accessible only to priority sectors.

As a result, average lending rates across the market are unlikely to fall rapidly. More importantly, if deposit rates are cut too quickly, deposit inflows into the banking system could reverse.

Nguyen Thanh Tung, chairman of the Board of Directors at state major Vietcombank, acknowledged that the most enduring challenge at present is to lower banks' funding costs while ensuring that depositors' interests are protected.

“If adjustments are not appropriate, the policy could affect depositors' behaviour. The SBV and commercial banks need to work closely together to determine an appropriate level of deposit interest rates,” he said.

During the week from October 19 to 25, six-month deposit rates at smaller private lenders had climbed to 9.5-10 per cent per annum, approaching the peaks recorded in 2022-2023. This has prompted signs of deposit funds shifting from one bank to another within the banking system.

To bring down overall interest rates, the SBV has required banks to quickly cut deposit rates by 0.5 percentage points per annum for maturities of six months or longer and strictly refrain from competing to offer higher deposit rates.

Banks have also been instructed to reduce lending rates by 1.5-2 percentage points per annum for production, business activities and priority sectors.

In addition, penalties have been introduced, such as reductions in credit growth limits for the rest of the year, or lower assigned credit growth targets for 2027, among others.

To ensure sustainable interest rate reductions, Dr. Dao Minh Tu, vice chairman and secretary general of Vietnam Banks Association, said that, over the longer term, macroeconomic, fiscal and monetary policies need to be coordinated to bring interest rates to levels consistent with the profitability of the economy and businesses while meeting future investment needs.

“Achieving this objective requires coordinated policies and the development of capital markets. Banks must mobilise funds before they can extend loans, while pressure to raise funds may force them to increase deposit rates to attract money. As alternative funding sources develop and help meet the economy's capital needs, pressure on the money and credit markets will ease, creating room for interest rates to fall,” Tu said.

Another solution to easing domestic interest rate pressures is to step up international capital mobilisation. In recent months, an increasing number of banks have turned to international capital markets.

Last week, southern lender Nam A Bank signed a mandate letter for a $100 million international syndicated loan.

SHB Bank also successfully issued international bonds worth about $178.8 million in Singapore. The issuance comprised $100.6 million in three-year bonds carrying an annual interest rate of 2.9 per cent and $78.1 million in five-year bonds with an annual interest rate of 3.15 per cent.

The issuance's foreign exchange risk was hedged through a swap into US dollars arranged by Sumitomo Mitsui Banking Corporation's Singapore Branch.

Earlier, a number of banks, including HDBank, MB, VPBank and VIB, had also raised billions of US dollars from international capital markets.

Beyond commercial banks, the government is also considering a return to international bond issuance while accelerating efforts to upgrade Vietnam's sovereign credit rating to investment grade, which would improve the country's access to global capital markets.

Talking to VIR, Pham Phu Khoi, secretary general of Vietnam Bond Market Association, stressed the importance of reducing excessive reliance on the banking system, including by tapping international sources of capital.

“International interest rates are at their highest levels in five years, making overseas borrowing less favourable. Nevertheless, amid a shortage of medium- and long-term domestic funding, increasing foreign borrowing is necessary to ease pressure on the domestic capital market,” Khoi said.

Khoi added that if international tensions ease and inflation declines, the US Federal Reserve will cut interest rates, making international borrowing more favourable. While awaiting a clearer direction for US dollar interest rates, international borrowing will continue to play only a supplementary role in supporting domestic liquidity.

Under current conditions, the capital channel most expected to provide additional funding for the banking system is the capital market, particularly the bond market.

In addition, to ease funding pressures on the banking system, experts recommend that the state directly finance more infrastructure development through preferential loans backed by government guarantees.

Stock market positively responds to interest rate cuts The stock market has reportedly shown positive response to recent interest rate cuts.

Banks adjust to balance and cut costs With simultaneous interest rate cuts and accelerated credit disbursement, banks are fuelling Vietnam’s economic breakthrough, driving towards the ambitious targets of 8 per cent GDP growth and 16 per cent credit expansion this year.

Vietnam braces for financial headwinds with limited policy leeway The balance between VND mobilisation and credit in the banking system has tightened, raising concerns over macroeconomic stability in the months ahead. Despite efforts to ease borrowing costs, persistent inflationary pressures and a weakening local currency could stall further reductions in interest rates.

Credit risks loom as banks battle rate-cut pressures The State Bank of Vietnam (SBV) has ordered all credit institutions to adopt measures to stabilise and reduce deposit rates, thereby maintaining monetary market stability and building capacity for lower lending rates.

Ho Chi Minh City announced 12 projects that had received in-principle investment approval or investment registration certificates, with total investment capital of more than $13.58 billion. Photo: Le Toan

Leading the list by investment scale is the International University Urban Area, developed by Berjaya Vietnam International University Urban Joint Stock Company. Following an adjustment, the project has a total investment of approximately $6.61 billion.

The second-largest project is Can Gio International Transshipment Port, with total investment of approximately $4.92 billion. The large-scale seaport infrastructure project is expected to strengthen Ho Chi Minh City’s capacity for international cargo transshipment.

Another notable project is the Smart Complex in Functional Zone 2A of the Thu Thiem New Urban Area, developed by Lotte Properties HCMC Co., Ltd., with the participation of companies within the Lotte Group and Phat Dat Real Estate Development Corporation.

Alongside large-scale urban development projects, the list also features investment in seaport infrastructure and logistics services.

Gemadept - Terminal Link Cai Mep Port has total investment of approximately $770 million. Covering around 120 ha, the project has a designed annual capacity of 25.6 million tonnes and can accommodate vessels of up to 250,000 DWT.

In the same sector, My Xuan 6 Port, invested in by Khai Anh Binh Thuan JSC, has total investment of approximately $66.6 million.

In logistics and industrial infrastructure development, the Swift Logistics project has total investment capital of approximately $987.4 million, while Phase 1 of Vinh Lap Industrial Park has recorded registered investment capital of nearly $380 million.

In addition, five industrial manufacturing projects were announced including Xinyi Glass Vietnam with investment capital of $230 million, Chang Yue Technology with $70 million, II-VI Vietnam with $45 million, GL Cables’ high-tech power cable manufacturing plant with $23.1 million; and ITO Automation Technologies with $8 million.

These projects focus on glass manufacturing, mechanical engineering, semiconductor materials, high-tech power cables and automation equipment, helping expand Ho Chi Minh City’s industrial production capacity.

Prime Minister Le Minh Hung (centre) witnesses Standing Vice Chairman of Ho Chi Minh City People's Committee Nguyen Loc Ha (Right) and WEF managing director Stephan Mergenthaler exchanging strategic cooperation documents between two sides. Photo: C4IR

At the same event, Prime Minister Le Minh Hung witnessed the signing of a cooperation agreement between Ho Chi Minh City People’s Committee and the World Economic Forum (WEF).

The milestone marks a new stage in cooperation between Ho Chi Minh City and the WEF, aimed at strengthening connectivity, encouraging collaborative initiatives and mobilising resources to support the city’s goal of achieving sustainable double-digit growth.

The partnership is also expected to contribute to Vietnam’s ambition to become a trillion-dollar economy in the near future, with a focus on areas such as capital mobilisation, foreign investment attraction, technology and research and development.

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

Deeper ASEAN integration key to climbing global value chains At the Repositioning Vietnam and ASEAN in Global Value Chains discussion, held on October 27 as part of the Autumn Economic Forum 2026, experts and business representatives focused on how Vietnam and ASEAN can capture greater value in global supply chains.

Prime Minister attends Autumn Economic Forum 2026 in Ho Chi Minh City Prime Minister Le Minh Hung has attended the high-level plenary session of the Autumn Economic Forum 2026 in Ho Chi Minh City, focused on the convergence of new global growth poles.

Accordingly, MB Securities Corporation has reported after-tax profit approximating $12.6 million for Q3/2026, down 5 per cent on-year.

Gains from financial assets at fair value through profit or loss (FVTPL) rose 146 per cent on-year. However, losses from these assets surged to $19.2 million, resulting in significantly weaker overall performance from this activity compared with the same period last year. Revenue from securities brokerage also fell 65 per cent to $5.1 million.

Fluctuations in market liquidity directly affect brokerage revenue and the business performance of securities firms. Photo: baodautu.vn

Meanwhile, HVS Vietnam Securities Corporation recorded solid growth in both revenue and after-tax profit in Q3. Its after-tax profit reached $84,000, 3.6 times the figure recorded one year ago.

The result was driven by a 77 per cent increase in operating revenue to $204,000. The main revenue contributor was interest income from held-to-maturity investments, consisting entirely of deposit contracts with terms of more than three months.

Another small brokerage, BIS Securities Corporation, has also announced its Q3 business results, with after-tax profit improving by more than $228,000 compared with Q3/2025.

BIS’s quarterly revenue surged 423 per cent to $636,000, driven by $424,000 in revenue from financial advisory services. Gains from financial assets at FVTPL also climbed sharply, increasing 19.5-fold on-year to $156,000.

Although these improvements were insufficient to cover expenses and BIS still posted an after-tax loss of about $60,000, the result was considerably better than the loss amounting to $292,000 in the same period last year.

These results do not yet represent the overall earnings picture for the sector. However, given developments in Vietnam’s stock market during Q3/2026, securities companies are not expected to be among the industries delivering strong profit growth.

According to analysts at VPBank Securities (VPBankS), the securities sector’s Q3 business results are expected to decline on-year, primarily because of the high base in Q3/2025, when liquidity and trading value surged, boosting brokerage income and making on-year comparisons more challenging.

Meanwhile, analysts at Vietcombank Securities (VCBS) forecast that most securities companies will report weaker Q3 results, as average daily market liquidity has fallen by around 55-60 per cent on-year and market volatility is expected to cool margin lending balances.

However, lending balances are still expected to grow on-year, supported by additional capital raised through capital-raising exercises in the second half of 2025 and the first half of 2026.

Leading securities companies may report weaker Q3 results than a year earlier as brokerage revenue declines in line with market liquidity.

Small and medium-sized brokerages, meanwhile, could experience steeper declines because their strong proprietary trading profits in Q3/2025 created a high comparison base.

Research teams have also issued forecasts for the business results of some of the market’s largest securities companies.

VPBankS expects SSI Securities Corporation’s Q3 profit to fall 23.4 per cent on-year, mainly due to the high base in Q3/2025, when strong market liquidity and trading activity significantly boosted brokerage revenue.

VCBS also estimates that SSI’s profit could decline by around 29.3 per cent in Q3 of this year.

For Ho Chi Minh City Securities Corporation (HSC), both research teams forecast that HSC’s Q3/2026 after-tax profit will fall by 13-14 per cent on-year amid a sharp decline in market liquidity.

Vietcap Securities is also likely to be affected by the broader downturn, with VCBS forecasting an 18.7 per cent on-year decline in its after-tax profit compared with Q3/2025. The forecast reflects the research team’s view that Vietcap’s market share could edge down as foreign investors’ contribution to total trading value declines from the previous quarter.

According to estimates by analysts at FPT Securities (FPTS), the securities sector’s gross profit margin from brokerage activities stood at 21.1 per cent in Q3 of this year, down from both the previous quarter and the same period last year, as trading fees continued to narrow and market liquidity remained subdued.

FPTS estimates that the net interest margin on margin lending will narrow by around 4 basis points quarter on quarter to 6.7 per cent in Q3/2026, as funding costs for margin lending are expected to rise by 14 basis points and lending rates by 9 basis points compared with Q2.

Nevertheless, divergent profit performance in Q3 does not necessarily mean the securities sector’s outlook will remain subdued in the coming period.

Securities companies’ business results are closely linked to market developments, particularly liquidity, demand for financial leverage and the performance of proprietary trading activities.

In the short term, the securities sector’s profit recovery prospects will continue to depend significantly on the market’s ability to engage stronger cash flows.

Securities firms target double-digit growth despite market volatility Securities firms are projecting strong revenue and profit growth for 2026, driven by economic recovery, policy support, and expectations of a stock market upgrade set to attract greater foreign investment.

Brokerage competition intensifies as market liquidity surges in Q1 Competition among securities firms for brokerage market share is intensifying as rising liquidity fuels growth, with capital strength, technology investment, and service ecosystems emerging as key advantages.

Profit divide widens among securities firms in Q1 The securities industry posted a stark split in the first quarter of 2026, with bank-backed brokerages delivering strong profit growth while smaller firms struggled with losses amid rising competition and risky proprietary bets.

On the afternoon of October 28, delegates at the Autumn Economic Forum 2026 attended an in-depth discussion and dialogue session themed “Identifying New Growth Drivers” and “Cooperation Frameworks in a New Era.”

Speaking at the session, DPM Thang reaffirmed that the global economy was undergoing a period of profound transformation.

“The global economy is experiencing a far-reaching restructuring process, shaped by the interplay of geopolitical conflicts, technological breakthroughs and the dual transition. Growth centres are shifting significantly towards Asia, Africa and Latin America, while value chains and supply chains are being restructured towards greater diversification, regionalisation and resilience to volatility,” he said.

Investment location decisions are no longer driven solely by cost considerations, but increasingly hinge on safety, flexibility and long-term strategic linkages, he said.

Meanwhile, technological breakthroughs, the rapid expansion of AI and automation, and environmental, social and governance standards are increasingly becoming prerequisites for participation in global value chains, while fundamentally reshaping the competitive advantages of nations.

“These shifts are creating opportunities while also posing considerable challenges, intensifying competitive pressures and highlighting the need for dialogue platforms to build trust and boost cooperation among stakeholders,” the deputy prime minister stressed.

The DPM outlined three major trends that warrant focused discussion and clarification. The first is the twin transition, with digital transformation and the green transition interacting to reshape production methods, market standards and competitive advantages.

The second is the shift in growth centres towards Asia, Africa and Latin America, not only in terms of market size but also as hubs for manufacturing, innovation and South-South cooperation.

The third is the restructuring of supply chains towards greater diversification, balancing efficiency with security.

According to DPM Thang, these trends have a dual impact. For developing countries, including Vietnam, they offer opportunities to access new sources of capital, technologies and markets, while also creating pressure to strengthen technological absorption capacity, workforce quality and the ability to meet emerging standards.

“Opportunities can translate into growth only when each country has the capacity to seize them,” he stressed.

Amid profound shifts in the global economy, the deputy prime minister said the challenge facing each country was no longer whether to adapt passively or remain on the sidelines, but how to position itself actively and strengthen its domestic capabilities within global production networks.

For Vietnam, the urgent task is not merely to establish connections and integrate the economy into existing or emerging value chains. More importantly, the country must create the environment, mechanisms and capabilities to work more deeply and directly with international partners in generating and creating value across new value chains.

First, Vietnam needs to build its endogenous capabilities in human resources, technology and governance, while developing a stable, transparent and predictable institutional framework that provides room for experimentation and innovation.

In addition, the country needs to strengthen multilateral, regional and South-South cooperation, while effectively mobilising capital, green finance and technology, linked to domestic business partnerships and value chain upgrading.

DPM Thang said that as Vietnam’s leading economic hub and centre of innovation, Ho Chi Minh City was facing a historic opportunity to connect resources and translate them into frameworks for cooperation, innovation and new value creation.

“Beyond serving as a convergence point for regional capital, knowledge and technology flows, Ho Chi Minh City also aspires to become a credible and responsible growth pole, ready to integrate with international partners,” the deputy prime minister stressed.

However, turning this opportunity into reality requires Ho Chi Minh City and Vietnam to pursue sufficiently ambitious and substantive strategic directions in cooperation with other countries and international organisations.

“We are not here merely to engage in dialogue; more importantly, we are here to work towards a shared vision for action,” he said, adding that the overarching theme of this year’s AEF would only have real meaning if translated into concrete commitments, policy frameworks and cooperation projects among the parties involved.

Deeper ASEAN integration key to climbing global value chains At the Repositioning Vietnam and ASEAN in Global Value Chains discussion, held on October 27 as part of the Autumn Economic Forum 2026, experts and business representatives focused on how Vietnam and ASEAN can capture greater value in global supply chains.

Prime Minister attends Autumn Economic Forum 2026 in Ho Chi Minh City Prime Minister Le Minh Hung has attended the high-level plenary session of the Autumn Economic Forum 2026 in Ho Chi Minh City, focused on the convergence of new global growth poles.

According to Depoux, foreign direct investment (FDI) flows are undergoing significant shifts across Asia, driven by three main trends: diversification of production locations, industrial modernisation, and supply chain regionalisation.

Multinational corporations are distributing their manufacturing operations across multiple countries to reduce dependence on a single source of supply. Meanwhile, automation, digitisation and robotics are helping improve productivity and offset the additional costs associated with expanding production networks.

Depoux said that, amid these trends, Vietnam had become a key destination for Chinese and US businesses.

“Companies such as BYD, JOS Solar, and Goldwind are not simply relocating assembly operations to Vietnam, but are also bringing technologies, production processes and innovation capabilities developed across their global networks,” he said.

Vietnam continues to attract investment from US companies such as Apple, Qualcomm and Intel. Although their investment scales vary, US businesses tend to focus on high-value-added sectors such as semiconductors, AI, and advanced technologies.

According to Depoux, the convergence of these investment flows is helping to establish a more deeply integrated manufacturing ecosystem across ASEAN. Notably, this restructuring is reflected not only in changing trade flows but also in the development of tangible manufacturing capabilities.

“For example, LEGO has built its first carbon-neutral factory in Vietnam, with an investment of $1 billion, while maintaining its supplier network in China and integrating the two systems. In this case, it is not China or Vietnam, but China and Vietnam working together,” Depoux said.

This shift is also reflected in Vietnam’s export structure. In 2016, electronics and machinery accounted for around 37 per cent of Vietnam’s exports to the US and Europe. Today, their share has risen to nearly 60 per cent, while the proportions accounted for by apparel and footwear have declined significantly.

However, the development of increasingly complex supply chains is also driving greater demand for financing.

Depoux cited the example of a Vietnamese company that may have to pay for chips and components in Chinese yuan or South Korean won, cover wages in VND, but wait 60-90 days to receive payments in US dollars, euros or Japanese yen.

This creates substantial demand for working capital, foreign exchange services and currency hedging instruments. According to Depoux, this is an area in which financial centres can play a significant role by providing specialised financial services to domestic and foreign-invested enterprises participating in supply chains.

“Vietnam’s economy needs more than capital, as capital alone cannot deliver the 10 per cent growth target,” Depoux said.

Vietnam needs to boost productivity and efficiency, and improve operational performance at every level, from public services and state-owned enterprises to private businesses and foreign-invested enterprises.

This requires innovation and the modernisation of industrial supply chains. Economists refer to this as total factor productivity. It is essential to offset the declining returns on capital while helping businesses minimise the additional costs incurred when scaling up production capacity.

Vietnam therefore needs to move from assembly towards advanced manufacturing, while undertaking extensive digitisation of logistics operations, from seaports to factories. This process cannot rely on short-term capital flows or one-off investments. Instead, it requires substantial, long-term and patient capital to improve operational efficiency over a period of many years.

Depoux pointed out that Vietnam’s credit-to-GDP ratio had reached around 146 per cent, indicating that the banking system was shouldering a substantial share of the economy’s financing needs. Meanwhile, public debt stood at around 35 per cent of GDP, leaving some fiscal headroom to mobilise resources for development investment.

“Vietnam’s problem is not an excessive public debt burden, but a banking system carrying too much credit exposure while the economy lacks sufficient long-term capital,” he said.

Another paradox highlighted by Depoux is the divergence between foreign direct investment and foreign portfolio investment. While foreign investment in Vietnamese factories has reached high levels, foreign investors were net sellers of nearly $5 billion worth of Vietnamese shares last year.

“Capital flowing into factories favours and trusts Vietnam, but capital in the financial markets still needs an additional boost,” he added.

FTSE Russell’s upgrade of Vietnam’s market is a first step. Vietnam needs to continue working towards being classified as an emerging market by Morgan Stanley Capital International, while also securing an investment-grade sovereign credit rating.

These are important conditions for attracting pension funds, institutional investment funds and other investors capable of providing stable, long-term capital.

Depoux recommended prioritising the development of the corporate capital market.

“Vietnam’s corporate bond market currently accounts for around 10–11 per cent of GDP, having previously peaked at 18 per cent, while the government’s target is 20 per cent. Vietnam needs to develop a larger, deeper and more liquid corporate bond market to finance industrial modernisation,” he said.

He also proposed making the achievement of an investment-grade credit rating a national objective. “As I mentioned, this is fundamental to attracting investment,” he said.

In addition, Vietnam needs to accelerate industrial modernisation, strengthen domestic and international infrastructure connectivity, and leverage the convergence of the physical economy and the digital economy to pull in technology capital.

At the same time, Ho Chi Minh City and Danang should be positioned as resilient supply chain finance centres. The focus should be on serving supply chains that integrate physical manufacturing with technology, thereby meeting their growing financing needs.

Vietnam IT software and services industry offers high growth potential The IT software and service industry in Southeast Asia is at an inflection point, poised for a next phase of growth. Ahmad Ridhwan Azizan, partner expert at Roland Berger Southeast Asia, and Truong Bui, partner and general manager at Roland Berger Vietnam, look at the Vietnamese market's opportunity to become the fastest growing in the region.

Opportunities are real but time-bound Vietnam’s macroeconomic outlook for the rest of the decade beyond is seemingly on the right track. John Low, managing partner of Roland Berger Southeast Asia and Australia, and Truong Bui, partner and head of Roland Berger Vietnam, point out what the country must do to sustain growth beyond 2026.

The initial investment and implementation risks can therefore be better controlled than when an entire production line is overhauled at once.

“Businesses should bear in mind that if a process has not been standardised or production volumes are too low, the cost of automation may outweigh the benefits,” Zhisu said.

Robot displayed at GRECO event. Photo: Le Toan

Vuong Quan Truong, deputy general director in charge of technology at AICAP, said the indicative investment cost for a complete robotic workstation could range from $30,000 to $80,000, with a payback period of three to five years.

For an SME, the investment decision also depends on the total cost of ownership. Beyond the equipment price, businesses need to factor in design and integration, site modifications, software, training, maintenance, spare parts and downtime during implementation.

In addition, the benefits should not be measured solely by the number of workers who can be replaced. Robots can improve product consistency, reduce errors in suitable processes, enable continuous operations or handle tasks in challenging working conditions. The economic value needs to be assessed based on the actual performance of each application.

Another factor that is often overlooked is process stability. If products change frequently and orders are small and inconsistent, reprogramming or adjusting equipment can drive up costs.

In such cases, Truong said that flexible automation solutions may be more suitable than specialised systems.

“A low purchase price does not necessarily mean a low total cost if the equipment requires extensive customisation, is difficult to integrate or lacks maintenance services. Conversely, choosing a system with capacity beyond actual needs can leave businesses bearing investment costs without fully utilising the equipment,” Truong said.

Ultimately, a robotic system can only deliver its full benefits when integrated into a suitable process and operated by qualified personnel. Businesses need to prepare staff who can monitor the equipment, troubleshoot basic problems, coordinate with suppliers and assess performance after implementation.

This does not mean every SME needs to establish its own robotics department. Depending on its size and the complexity of its operations, a business can combine in-house personnel with support services from equipment suppliers or system integrators. However, it still needs to develop in-house technological capabilities to avoid becoming entirely dependent on external providers.

Preparation should also start with data. According to Truong, businesses should clearly understand current productivity, defect rates, machine downtime, labour costs and process bottlenecks. This provides a basis for identifying which stages should be automated and determining whether the investment has genuinely improved performance.

“Overall, robots are making automation more accessible to a wider range of businesses, but they do not eliminate the challenge of capital efficiency. For SMEs, the right approach is not necessarily to buy the most advanced equipment, but to select the right processes, set clear objectives and measure results after implementation,” Truong said.

Visitors interested in a robot at the GRECO event. Photo: Le Toan

Deeper ASEAN integration key to climbing global value chains At the Repositioning Vietnam and ASEAN in Global Value Chains discussion, held on October 27 as part of the Autumn Economic Forum 2026, experts and business representatives focused on how Vietnam and ASEAN can capture greater value in global supply chains.

Prime Minister attends Autumn Economic Forum 2026 in Ho Chi Minh City Prime Minister Le Minh Hung has attended the high-level plenary session of the Autumn Economic Forum 2026 in Ho Chi Minh City, focused on the convergence of new global growth poles.

Photo: MST

The dialogue was part of the Vietnam International Digital Week 2026 on October 28-30, bringing together approximately 500 delegates from nearly 30 countries, focusing on AI cooperation and governance.

The discussion aimed to exchange experiences, identify gaps in AI capabilities among countries, and propose cooperation priorities to boost the inclusive, secure, and responsible development, application, and governance of AI. The discussion focused on human resource training, AI research, development, and deployment capabilities; access to computing infrastructure, data, experts, and financial resources; and the capacity to develop and implement AI policies and laws.

Addressing the event, Deputy Minister of Science and Technology Tran Trung Tinh said that in practice, AI governance cannot be separated from AI capabilities. A good policy framework is still insufficient if a country lacks the human resources, infrastructure, financial resources, or access to training to develop and use AI safely and responsibly. If not addressed promptly, the capabilities gap will become a development gap.

“Vietnam's approach is based on three pillars: institutions and policies; human resources and talent; infrastructure, data, and the AI ​​startup community. These are also the capacity gaps that today's dialogue aims to address. We believe that AI development is a shared journey, and no country can complete it alone. Vietnam pursues a harmonious approach that balances promoting development with ensuring effective governance, with a people-centred approach, and is ready to share experiences and learn from international partners,” he said.

Deputy Minister of Science and Technology Tran Trung Tinh. Photo: MST

Vietnam recognises AI as a crucial driver of scientific and technological development, innovation, and digital transformation. The country has taken concrete steps. The Artificial Intelligence Law, passed by the National Assembly in December 2025 and effective from March 1, 2026, is Vietnam's first specialised law on AI, managing it based on risk levels and with a human-centred approach. In August, the government approved the National Strategy on Artificial Intelligence to 2030, with a vision to 2045. Our consistent view is that laws should not be barriers, but rather a foundation for AI development,” he noted.

The Global Digital Compact, adopted at the United Nations Summit on the Future in September 2024, is the first global document on digital cooperation and AI governance. Within the framework of the compact, the United Nations initiated the Advanced AI Capacity Building Network, with Vietnam being one of the first 26 countries and organisations to become a full member in July 2026. The compact also serves as the basis for the United Nations General Assembly to establish the global dialogue on AI governance.

The dialogue in Quang Ninh is a recurring contribution to this process, leading up to the next dialogue scheduled to be held in New York in 2027. Through this, Vietnam and its partners will exchange views on the conditions for countries, especially developing countries, to participate more effectively in the global development and governance of AI.

AI has cut the time it takes to prototype a new investment idea from months to days. What has not kept pace is the path to production. Models still run in spreadsheets, and AI prototypes still sit on personal laptops. When a board, auditor or regulator asks which version is live, what data it used and who approved it, most investment technology stacks cannot answer. The idea is no longer the constraint. The infrastructure that carries it is.

The Jacobi Investment Management Harness is the connective tissue that scales a firm's investment logic across the Jacobi platform, so its intellectual property does not stay in prototype but powers portfolio outcomes. It packages what Jacobi has delivered for over a decade, accelerated now by AI, into four layers on one client-specific entity data model:

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• Forward Deployed Engineering: technical investment experts who partner with investment teams, build on the AI Workbench, deploy to production, and hand back a system the client owns and operates independently.

Tony Mackenzie, Co-Founder and CEO, Jacobi Strategies, said:

"The distance between a brilliant investment idea and a live client portfolio is often measured in months of technical debt, governance hurdles and infrastructure complexity. At Jacobi, we help firms bridge that gap, turning proprietary investment thinking into scalable, audit-ready solutions that create measurable value for clients."

Visit www.jacobistrategies.com.

Established in April 2024, KROI works closely with clinical and operational teams across NUH to identify areas where innovation can enhance care delivery, patient experience and operational efficiency. This partnership brings together NUH's clinical and operational expertise with IMDA's OIP network of approximately 21,000 innovators and solution providers, including startups, technology firms, and research institutions. It also supports Singapore's National AI Strategy (NAIS) to drive AI innovation and adoption in key sectors such as healthcare.

Turning healthcare challenges into practical solutions

By focusing on needs identified by healthcare professionals rather than technology alone, NUH can tap on the expertise across the OIP network to identify, evaluate and pilot promising solutions that address its priority healthcare challenges and make a meaningful difference to patients and healthcare staff in a real-world hospital setting. The MOI has already seen the launch of its first healthcare-themed innovation challenge seeking AI-enabled solutions to help identify fall hazards in patients' homes earlier and at scale, with Calls for Applications (CFAs) closing in November 2026.

Since its launch in 2018, IMDA's OIP has facilitated more than 450 innovation challenges and supported over S$25 million in prize funding, helping organisations tap external technology expertise to address business and operational needs.

Dr Ling Zheng Jye, Head of the Kent Ridge Office of Innovation, said: "Healthcare innovation is most impactful when it addresses real needs on the ground. Through the Open Innovation Platform, we can engage a broad community of innovators to tackle challenges identified by our clinicians and operational teams, creating new opportunities to develop and test solutions that can benefit both patients and healthcare professionals."

Alvin Kang, Director of Innovation at IMDA, said: "In support of Singapore's National AI Strategy, we are bringing IMDA's open innovation capabilities into healthcare, and creating opportunities for technology companies to apply their expertise to real clinical and operational challenges. By working with NUH through our Open Innovation Platform, we want to help turn promising innovations into practical solutions that can improve healthcare delivery."

A foundation for future collaboration

The IMDA-NUH partnership builds on KROI's broader efforts to strengthen ties across Singapore's innovation ecosystem. These include collaborations with organisations such as the National University of Singapore and academic publisher Elsevier, as well as the launch of the NUH Innovation Hub earlier this year, which supports the development, evaluation and implementation of staff-led innovations, including MedBot, NUH's AI-powered virtual pharmacy assistant.

Building on this momentum, NUH plans to launch innovation challenges on IMDA's OIP in March, July and October each year. These regular challenge calls will provide opportunities for technology innovators to develop and pilot solutions in response to priority areas identified by the hospital, thereby creating additional avenues for collaboration between healthcare providers and industry.

For more information, visit www.nuh.com.sg

Based on VeriSilicon's extensive experience in wearable graphics applications, GLTiny incorporates configurable rendering functions that enable developers to easily define their rendering requirements while efficiently utilizing the underlying OpenGL ES GPU capabilities. This streamlined approach dramatically reduces driver memory footprint and CPU overhead, delivering improved power efficiency and optimized performance for resource-constrained wearable devices.

GLTiny provides native rendering support for standard glTF™ 3D models, allowing developers to directly import glTF content and render it through GLTiny APIs. It supports key features such as lighting models, skeletal skinning, and morph targets, as well as full glTF animation support, including flexible playback, switching between animation clips, and playback speed control. GLTiny also supports visual effects such as Gaussian blur and ripple effects, with simplified APIs designed to streamline 3D graphics development. In addition, GLTiny can be combined with VeriSilicon's VGLite vector graphics driver to form an innovative hybrid driver, enabling coordinated rendering of 2.5D vector graphics and 3D models within the same frame.

"Power consumption and memory footprint are two of the most critical considerations in wearable devices, where delivering rich visual experiences within stringent resource constraints is essential," said Weijin Dai, Chief Strategy Officer, Executive Vice President and General Manager of the IP Division at VeriSilicon. "Leveraging our extensive experience in wearable graphics and close collaboration with leading wearable SoC and device manufacturers, we developed GLTiny to address these challenges. Building on the success of VeriSilicon's VGLite 2.5D GPU programming model, which has become a de facto industry standard for lightweight 2.5D graphics, GLTiny represents another important advancement in our graphics technology portfolio. Designed for seamless integration with the established wearable graphics content development ecosystem, GLTiny operates on VeriSilicon's Nano OpenGL ES GPU IP series, enabling device manufacturers to deliver increasingly sophisticated visual experiences while meeting the stringent power and memory requirements of next-generation wearable devices."

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

The Share Buy-Back Mandate provides the Board with greater flexibility to undertake purchases or acquisitions of the Company's shares when deemed appropriate and in the best interests of the Company and its shareholders. The Board believes that the Share Buy-Back Mandate is an important capital management tool that provides the Company with additional flexibility to:

• Enhance shareholder value over time;
• Optimise the Company's capital structure;
• Improve returns on equity and other key financial metrics where appropriate; and
• Allow the Company to take advantage of opportunities to acquire its shares when market conditions warrant.

The adoption of the Share Buy-Back Mandate is timely as the Group continues to make progress on both commercial execution and technology development:

(1) The Group remains on track to fulfil its existing purchase orders for its Direct Laser Writer ("DLW") platforms, with delivery scheduled to take place by end-2026, which is expected to contribute positively to the Group's revenue for the financial year ending 31 December 2026;

(2) Commercial engagement continues to build, and the Group has secured a design/evaluation order of co-packaged optics ("CPO") modules incorporating its metalens solutions and technology, from a major U.S. foundry customer, which is expected to support both ULED and laser-based configurations, further expanding the Group's product capabilities in next-generation optical interconnect applications; and

(3) The Group has also successfully completed the design and fabrication processes validation of a 12-megapixel colour imaging titanium dioxide ("TiO2") metalens. Production and fabrication on the Group's 12-inch wafer is currently underway, with the testing of the world's first 12-megapixel colour imaging TiO2 metalens, expected to commence in January 2027.

Thng Chong Kim, Executive Chairman of MetaOptics, said: "We are encouraged by the progress we have made across both commercialisation, technology development and engagements with institutional investors, signing of non-disclosure agreements with U.S.-based customers, fulfilment of purchase orders, securing of new design/evaluation orders, and breakthroughs in high-resolution metalens imaging. These achievements reinforce our confidence in the long-term potential of MetaOptics, our ability to create sustainable value for shareholders, and we remain well-capitalised to execute on our growth plans and strategies"

The Share Buy-Back Mandate does not obligate the Company to purchase any shares. Any future buy-backs will be undertaken only after taking into account market conditions, the Company's financial position, working capital requirements, growth plans and other relevant factors.