AMÉRYS Hotel Phu Quoc is invested in by Les Sens - Phu Quoc Hotel Services Joint Stock Company under Khoi Nguyen Investment Holdings (KNI Group), with a total capital of over 600 billion VND. The hotel is managed and operated by Private Palace Vietnam Co., Ltd., a member of Private Palace Hotels & Resorts Group (Germany).

AMÉRYS Phu Quoc stands 7 stories tall with a capacity of 113 rooms, offering a full range of room categories from Superior to Presidential. Featuring a unique "Ocean Warmth" architectural concept, the building was designed by Raymond Architectural Design Office—a renowned Japanese firm with over 100 years of experience in the architectural design industry. The hotel is positioned as a high-end property, specifically dedicated to multi-generational families.

Nguyen Thi Kieu Oanh, Chairwoman of the Board of Directors of KNI Group, shared: "With our motto 'Designed for Togetherness', we bring this vision to life by creating sophisticated multi-generational spaces at AMÉRYS Hotel Phu Quoc. Here, every family member can find their own joy while remaining fully connected, enhancing both mental and physical well-being to continue their happy journey together in life. We are confident that guests will be highly satisfied with the excellent services provided here by Private Palace Hotels, a deeply experienced operator."

According to Karim Klaa, General Manager of AMÉRYS Hotel Phu Quoc, the "Designed for Togetherness" philosophy is heavily invested in to satisfy the needs of various age groups within the family, specifically:

• Accommodation Architecture: Diversified room layouts, ranging from cozy spaces for small families (parents and children) to large, flexibly connected suites that perfectly accommodate multi-generational families (including grandparents).
• Specialized Care for Each Generation:
  • Children: The indoor Azuria Kid Club is fully air-conditioned and stands as the largest in this segment with an area of 500m². It offers a rich, creative schedule of activities that adapts flexibly to the seasons, allowing children to freely explore. In particular, summer camp programs are expected to be held in collaboration with Ardingly College Vietnam (ACVN), a boarding school originally from the UK, bringing holistic body-mind-soul experiences to children's vacations in Phu Quoc.
  • Parents and Grandparents: A Spa Center featuring massage therapy, yoga, and various types of saunas—including hot/cold sauna, steam bath, and Ganban hot stone sauna—along with a gym, a live music tea room, and a sports bar.
  • Exclusively for Seniors: In collaboration with Genki House—a Japanese-standard healthcare model within the same ecosystem—the hotel strives to provide specialized traditional medicine treatments, health cultivation (Qigong/Taichi), and intensive physical rehabilitation, allowing grandparents to enjoy a healthy and relaxing retreat.

"AMÉRYS features a private beach just a 5-minute electric buggy from the hotel. The hotel has also invested in two well-equipped restaurants with rich and distinctive culinary menus. Togetherness at AMÉRYS comes from respecting the private world of each generation so that when gathering for meals or shared moments of relaxation, the entire family creates invaluable memories on Pearl Island—an island famous for its pearl farming industry and stunning natural landscapes," Karim Klaa added.

Speaking at the opening ceremony of AMÉRYS Hotel Phu Quoc, Daniel Hutter, General Manager of Private Palace Hotels Group for the German region, stated: "On behalf of Private Palace Hotels Group in Europe and Asia, I am deeply honored to attend today's event. Some time ago, this place was just a vision on paper. Now, it has become a vibrant, lively structure ready to welcome travelers from all over the world. I could not be prouder."

"We would like to extend our deepest, most sincere gratitude to KNI Group. You have not just built a piece of real estate; you have created a space where beautiful memories will be cherished for many years to come," said Daniel Hutter. "Our promise is simple: to deliver genuine hospitality, excellent service, and memorable moments. Today is not the finish line; it is just the opening chapter of our story. With the companionship of KNI Group and the enthusiasm of our staff, I firmly believe that the most wonderful chapters of AMÉRYS Hotel Phu Quoc still lie ahead," Daniel Hutter emphasized.

Regarding nature, Phu Quoc is blessed with a year-round mild climate, fine white sand beaches, warm waters that are safe for children, and a lush primary forest ecosystem. This provides an ideal natural therapeutic environment for the elderly to relax and stimulates curiosity and exploration in young children. Phu Quoc is conveniently located in the heart of Southeast Asia, attracting an increasing number of domestic flights and connections from international hubs (Singapore, Malaysia, Bangkok, etc.). The visa-free policy for international visitors to the Phu Quoc Special Economic Zone makes it easy to attract tourists from around the globe to AMÉRYS Hotel Phu Quoc.

Website: https://ameryshotel.com

Facebook: https://www.facebook.com/ameryshotels

The event heard that a major ambitious growth target requires more state budget revenues and fiscal discipline

“State budget revenues must be underpinned by economic development and production and business activities. As businesses grow, tax revenue will also increase. Therefore, to help achieve Vietnam’s 10 per cent economic growth target, the tax sector must strengthen its engagement with businesses and support them throughout their development,” he said.

Another notable achievement highlighted by Thanh at the event was Vietnam’s removal from the European Union’s list of non-cooperative jurisdictions for tax purposes in October. According to Thanh, the result was achieved through the government’s decisive direction and coordination between the MoF and relevant agencies.

Thanh said that several mechanisms were currently being implemented, including spontaneous exchange of information, exchange of information upon request, and country-by-country reporting. A delegation from the Organisation for Economic Co-operation and Development is scheduled to visit Vietnam in November to work on this issue.

“Businesses operating in Vietnam are responsible for cooperating with the authorities in declaring beneficial ownership information in accordance with regulations. This is an important basis for the authorities to verify compliance, prevent tax evasion, and address capital and profit shifting that does not comply with applicable regulations,” stated Thanh.

Strengthening tax information exchange will also help Vietnam integrate more deeply into the global tax administration system while enhancing the transparency of its business environment. “This, in turn, will help Vietnam build greater confidence among investment funds, governments, and international financial institutions, supporting the attraction of investment capital in the coming years,” Thanh added.

Hoang Thuy Duong, partner and head of Tax for Vietnam & Cambodia at KPMG in Vietnam, said that achieving current growth targets required Vietnam to take a realistic view of the global economic environment. Nevertheless, Vietnam’s economy had demonstrated considerable resilience, sustaining export growth and attracting positive foreign inflows.

“An ambitious growth target requires state budget revenue to increase accordingly while maintaining fiscal discipline and ensuring that resources are allocated in a balanced manner to support development. Vietnam still has fiscal space to invest in infrastructure, ranging from seaports and airports to expressways, thereby strengthening production capacity, export performance, and services development,” he said.

Against the backdrop of the implementation of numerous new tax laws, Duong noted that tax administration would become increasingly stringent, including through broader and more effective tax coverage and measures to ensure fairness among businesses and individuals.

“Businesses therefore need to pay greater attention to tax compliance, related-party transactions, and associated obligations,” said Duong. “In particular, digitalisation in tax compliance and administration is a strategic step that aligns with international trends. The application of technology and AI will transform tax declaration and payment processes, as well as tax audits and inspections.”

Nguyen Thu Huong, partner, head of Tax Dispute Resolution & Controversy at KPMG in Vietnam, said the tax sector was taking decisive steps to integrate digital transformation into tax administration. Addressing businesses’ concerns about tax audits and inspections, Huong said their primary objective was to improve compliance.

“Businesses should therefore avoid focusing solely on preparing for a specific tax inspection. Instead, they should conduct regular tax health checks to identify errors that can be corrected promptly, rather than waiting until an inspection decision is issued before taking remedial action,” said Huong.

When issues are unclear, businesses should proactively engage with the tax authorities and seek guidance before more serious complications arise.

“Rather than simply filing tax returns, submitting reports, and waiting for the authorities to conduct audits or inspections, businesses should take a proactive approach to compiling data, reconciling figures, analysing risks, and identifying anomalies so that they can make timely adjustments, mitigate risks, and strengthen compliance,” she added.

Also at the event, Le Thi Kieu Nga, partner and head of Tax Advisory at KPMG in Vietnam, said that of the approximately 1,500 businesses in Vietnam subject to the global minimum tax (GMT), around 200 businesses and projects had incurred top-up tax liabilities.

“If a business does not pay the top-up tax in Vietnam, the tax may be collected in the jurisdiction where its parent company or intermediate parent company is located. As a result, the business would still be subject to the minimum effective tax rate of 15 per cent,” stated Nga.

“This reduces the effectiveness of traditional corporate income tax incentives for multinational groups subject to the GMT. If a company’s effective tax rate is already below the 15 per cent threshold, the benefits of tax incentives may no longer be retained entirely by the business, as the shortfall could instead be collected as top-up tax in another jurisdiction,” she said.

Tran Thi Thuy Ha

Partner, Global Transfer Pricing Services KPMG in Vietnam

Businesses must ensure that related-party transactions comply with the arm’s-length principle, as transfer pricing documentation alone may not be sufficient to withstand scrutiny by tax authorities. This requires a robust analysis of pricing methods, supported by reliable data and evidence that reflects the functions performed, assets used, risks assumed, and economic circumstances of the parties involved.

These requirements also extend to country-by-country reporting. Multinational enterprise groups with consolidated global revenue of at least $836 million may fall within the reporting framework, while businesses should review whether notification obligations apply when reports are filed overseas. At the same time, changes to the rules governing data sources for transfer pricing analysis make the selection of appropriate comparables increasingly important.

Profitability must also be assessed in context. Industry profit indicators published by tax authorities do not mean that all businesses in the same sector must achieve identical margins. Differences in business models, risk profiles, and market conditions can lead to different results, which companies should be prepared to substantiate with relevant evidence.

To manage these risks, businesses may consider mechanisms that provide greater certainty or help resolve disputes. Advance pricing agreements can establish an agreed approach to pricing for covered related-party transactions, while the mutual agreement procedure can help address disputes between tax authorities and cases of double taxation under applicable tax treaties. Businesses should review regulatory changes, reassess their transfer pricing risks, and strengthen supporting documentation, while considering whether agreement mechanisms suit their circumstances.

Tran Van Trung

Partner, Tax Advisory; Head, Power Sector, KPMG in Vietnam

Recent changes to Vietnam’s tax framework require businesses to reassess their eligibility for corporate income tax incentives, particularly those available to qualifying high-tech enterprises and research and development centres. Depending on the applicable conditions, preferential tax rates and extended incentive periods may be available, making it important for companies to review the relevant criteria rather than rely solely on incentives they have previously applied.

Beyond tax incentives, the treatment of capital transfers is another area requiring careful consideration, particularly in cross-border transactions involving multinational groups. Determining the portion of income attributable to Vietnam can be complex when a transaction takes place overseas and the group operates across several jurisdictions.

Asset-based allocation may be relevant in some cases, but it may not fully reflect the value of businesses whose operations depend heavily on services or intangible assets. These challenges can also arise in internal group restructuring, where businesses need to establish the appropriate transfer value and assess differences between transaction prices and book values.

For cross-border transactions, businesses must also consider whether relief is available under double taxation agreements. Such relief is not automatic: companies must satisfy the relevant conditions and provide adequate supporting documentation. Careful assessment of the transaction structure and the applicable treaty provisions is therefore important when determining the tax implications of a capital transfer.

Taken together, these issues underline the need for businesses to review their tax positions before implementing transactions or recognising expenses. Maintaining complete documentation, assessing potential liabilities early, and engaging with tax authorities where appropriate can help clarify uncertainties and reduce the risk of disputes during tax audits and finalisation.

Congregations across the Philippines also held watch parties in local meetinghouses, allowing more youth and young adults to participate.

"Dedicate" follows seven young adults from Brazil, France, Ghana, Japan, Mexico, the Philippines and the United States as they explore the Salt Lake Temple during its renovation. After being closed for renovations in 2019, the historic temple will open for public tours April 5 through October 1, 2027, as part of a global celebration.

In each "Dedicate" episode, the young adults meet Church leaders and seek answers to questions about faith, purpose and spiritual identity. Through personal experiences and candid conversations, the series explores how temples help strengthen individuals and families through Jesus Christ.

Emie Alvez of Manila, a participant in the series, talked about her experience and answered questions from the audience. In her bio for "Dedicate," she shared that young adults her age are drawn to the temple.

"My generation deeply loves the temple. Amid uncertainty, it reminds us that God's promises are sure," she said.

Many around the world have also been drawn to this series to learn more about temples. This week, the series surpassed 2 million views on YouTube alone.

Alvez hopes that anyone who watches will see God's love for them reflected in the experiences shared in "Dedicate."

"What I've learned is Jesus Christ's love is endless," she shares in Episode 5. "I knew that before, but I feel it more deeply now."

After the event, James Ejercito, a young adult from Quezon, said, "One of the best things I have learned and realized more as I watched 'Dedicate' is how much God loves us. His plan for us is to be one and be united with Him."

"After watching 'Dedicate', it made me think more deeply about the temple," Althea Pallasigue of Pasig said. "Jesus Christ and Heavenly Father love us so much. We are so blessed because there are a lot of temples around us that will strengthen us."

During the event, Elder Chi Hong (Sam) Wong of the Philippines Area Presidency invited the rising generation to dedicate and rededicate their lives to Jesus Christ as they prepare to make and keep special promises in the temple.

"Dedicate your life to Him, if you have fallen short––and all of us have––then rededicate yourselves. If you fall short again, rededicate. We just need to stand up one more time than the times we fall," he said.

A Global Celebration

Watching and sharing "Dedicate" is one of the many ways that anyone can participate in the global Salt Lake Temple Celebration.

"As we invite the world to the Salt Lake Temple Celebration beginning in April 2027, our hearts turn to those who may not be able to attend with us in person. One way we hope 'all nations shall flow unto' this house of the Lord is through 'Dedicate,'" said Elder Gary E. Stevenson of the Quorum of the Twelve Apostles.

"Let [this series] be something that you experience, that you enjoy, that builds your faith in Jesus Christ."

Episode 5 was released at 8 a.m. MST on November 1, 2026. The sixth and final episode will be released in spring 2027 as part of the ongoing Salt Lake Temple Celebration.

Ways to Watch

The series is available on the following platforms:

• The Church's YouTube channel.
• The Church's website through Gospel Library Online.
• The Gospel Library app.
• BYUtv.
• Local watch parties. Members are encouraged to host a watch party with their ward or stake or simply gather family and friends to watch episodes together.

Standing Vice Chairman of Ho Chi Minh City People’s Committee Nguyen Loc Ha (second, left). Photo: ITPC

"Ho Chi Minh City's appeal lies in its position as an economic hub, its large consumer market, dynamic business community, and well-developed financial and trade services," Ha said.

"Following its merger with Binh Duong and Ba Ria-Vung Tau, the city now has an integrated development space encompassing finance, services, innovation, modern industry, and deep-water seaports," he added.

In the first 10 months, Ho Chi Minh City attracted more than $19 billion in foreign direct investment (FDI), exceeding its full-year target by around 74 per cent.

The city currently has more than 22,000 valid FDI projects with total registered capital of more than $157.4 billion.

"The Law on Urban Development, which took effect on October 1, establishes a legal framework with various policies for Ho Chi Minh City and other special-class cities. Together with the International Financial Centre and the Free Trade Zone, these frameworks aim to create a clear, consistent, and predictable regulatory environment," Ha said.

He added that the city targets double-digit growth and aims to become Asia’s economic, financial, and services hub by 2045.

“Priority sectors include strategic infrastructure, high technology, finance, logistics, and green energy. We seek to attract capital, technology, governance standards, and human resources, while strengthening connections between international businesses and domestic enterprises, universities, and research institutes,” he said.

Dr. Andrew Staples, editorial director of Fortune Asia. Photo: ITPC

Dr. Andrew Staples, editorial director of Fortune Asia, presented an overview of the regional economy through the Fortune Southeast Asia 500 ranking, launched three years ago.

He said that in the latest edition, based on 2025 financial data, companies on the 2026 list generated total revenue of $1.88 trillion, up 3.4 per cent on-year, and total profits of $150 billion, equivalent to a net profit margin of 8 per cent.

Vietnamese companies on the list stood out, generating combined revenue of close to $178 billion and achieving growth of 10.5 per cent, three times the Southeast Asian average and the second-fastest rate in the ranking, after Cambodia.

“Notably, the 72 Vietnamese companies on this year’s ranking, accounted for approximately one-quarter of the total revenue growth recorded by this year’s Fortune Southeast Asia 500, even though their initial revenue base represented less than 10 per cent of the list’s total revenue,” he said.

Pham Quang Nhat, director of the Ho Chi Minh City Investment and Trade Promotion Centre, said the city was focusing on attracting investment into priority sectors, including high technology, strategic infrastructure, logistics, finance, and other high value-added industries.

“The city believes investment promotion must go hand in hand with supporting businesses throughout the implementation process. Issues beyond the centre’s authority will be consolidated and referred to the relevant agencies for consideration, helping improve coordination and resolution efficiency,” Nhat said.

According to Nhat, investment flows are currently concentrated in high technology, digital infrastructure, and logistics.

Nhat said that Ho Chi Minh City’s investment incentive framework is structured around three tiers: nationwide incentives for priority sectors, the city’s specific incentive mechanisms, and incentives available in special institutional zones.

“These three tiers of incentives can be combined depending on the sector, scale, and location of each project, in accordance with applicable regulations,” he said.

Travis Mitchell, executive director of the American Chamber of Commerce in Vietnam, said Ho Chi Minh City was facing a historic opportunity to attract a new wave of US investment, thanks to its expanded development space, talented workforce, and dynamic business environment.

“The United States is Vietnam’s largest export market, with bilateral trade exceeding $215 billion in 2025, up 39 per cent on-year, Vietnam’s exports to the US reached more than $153 billion, accounting for 32 per cent of the country’s total exports,” Mitchell said.

He described Ho Chi Minh City as a strategic gateway connecting Vietnamese businesses with the US market with three strategic areas with significant potential for cooperation: semiconductors and high technology, energy, and healthcare.

Commenting on the shift of leading US semiconductor and technology corporations such as Intel, Nvidia, and Qualcomm towards Vietnam, Mitchell said the country is no longer viewed simply as a low-cost manufacturing destination.

"Businesses are increasingly recognising the country's potential to become an innovation hub and undertake higher value-added activities," he added.

Alongside changes in global supply chains, he said the city's key advantage lies in its pool of highly skilled technical talent.

"For Ho Chi Minh City, the opportunity lies in building on its existing strengths in manufacturing and engineering to move further into chip design, research and development, and advanced technologies," he stressed.

More than $13 billion in projects approved at AEF 2026 On the morning of October 28, as part of the Autumn Economic Forum 2026, Ho Chi Minh City announced 12 projects that had received in-principle investment approval and/or investment registration certificates, with total investment of approximately $13.58 billion.

UK-Vietnam Business Forum focuses on high-value economy by 2045 The 2026 UK-Vietnam Business Forum took place in Ho Chi Minh City, focused on building a high-income, high-value economy by 2045.

Where Tech Meets Art: Intelligent Venue Upgrade

Michael Ma, Vice President of Huawei and President of Huawei's ICT Product Portfolio Mgmt & Solutions Dept, highlighted Huawei's end-to-end engagement in the Longgang International Arts Center project, from physical construction to digital and intelligent space enablement. Huawei has consistently integrated innovative ICTs with the venue's business scenarios, collaborating with partners to prioritize intelligent construction, premium experience, smart operations, and green, low-carbon practices. This approach has positioned the Center as a world-class cultural venue with advanced digital and intelligent capabilities. Looking ahead, Huawei will continue investing in foundational technologies and driving the integration of innovative ICTs with artistic environments, empowering cultural venues to elevate their services and operations.

At the event, the Longgang International Arts Center Global Intelligent Venue Showcase was launched, and the Digital Art Gallery (D+) officially opened, with representatives from the government, Huawei, and the Center in attendance to mark the occasion.

Exploring the Intelligent Venue: E2E Digital and Intelligent Transformation Across Construction, Management, and Operations

Wu Zhaohui, CTO of Longgang International Arts Center, shared their frontline venue operations experience in a speech titled "New Art Landmark, New Operations Practices." He highlighted that Shenzhen's cultural venues are rapidly evolving toward higher quality and greater diversity. Positioned as a new tech-art landmark in the Greater Bay Area, the D+ pursues a unique approach that combines deep artistic engagement, a strong technology foundation, and smart operations. Built on Longgang International Arts Center's advanced digital and intelligent infrastructure, the venue uses data to drive operations across consumer-focused (C-end) scenarios, business (B-end) collaboration, and government (G-end) public services. This strategy fosters a sustainable ecosystem and establishes a new model for smart art spaces.

Eric He, CEO of Huawei Campus Team, delivered a keynote on how technology is reshaping art spaces. He described architecture as frozen art and emphasized that digital and intelligent transformation—from design blueprints to venue agents—is key to making buildings smart and spaces dynamic. Huawei supports the entire venue lifecycle spanning construction, management, and operations with its 10 Gbps campus network and digital platform. These "dual hubs" have helped Longgang International Arts Center achieve six advantages: intelligent construction, efficient operations, green and low-carbon practices, immersive spectating experiences, personalized services, and user operations. Looking ahead, Huawei plans to collaborate with industry partners to develop scenario-based applications, integrate regional industries, establish standards through alliances, and drive innovation-led transformation, shaping intelligent spaces and a better future together.

A third-party comprehensive assessment rated Longgang International Arts Center as "excellent" for its digital and intelligent performance in smart energy-saving and carbon reduction, achieving the highest energy efficiency class. Zhang Xiang, Deputy General Manager of Potin-tech (Beijing) Technology under CAICT, presented the results, and Weng Yizhao, CEO of Shenzhen Zhuoyue Culture Development, accepted the certificate on behalf of the venue.

Tian Ding, Senior Vice President of HMN Tech, stated that the company is dedicated to creating richer smart scenario experiences for Longgang International Arts Center and other campuses, supporting venue campuses in achieving robust operations and ongoing innovation.

Attendees toured the venue's Intelligent Operation Center (IOC), enjoyed the DomeArt Gallery's light show, and explored the "Great Beauty of China" exhibition in the Flight Hall as well as the "Boundless Realm" exhibit in the CAVE, fully immersing themselves in this intelligent venue.

Moving forward, as OpenHarmony and AI continue to evolve, more cultural landmarks like Longgang International Arts Center will transcend time and space, sharing the fusion of technology and artistry with wider audiences and shaping a brighter future together.

For Hung Yen – a province lying in the heart of the Red River delta, some 60km southeast of Hanoi – these requirements are becoming more pressing as its industrial base expands and demand for investment resources increases.

Improving the business environment is therefore not simply an administrative task, but an important condition for sustaining growth and attracting higher-quality investment.

Photo: Tat Dat

This direction is reflected in Decision No.1875/QD-UBND dated June 15, issued by Hung Yen People’s Committee, approving a scheme to improve the Public Administration Reform Index (PAR Index), Satisfaction Index of Public Administrative Services (SIPAS) and Provincial Governance and Public Administration Performance Index for the 2026-2030 period.

The province aims to rank among the country’s top 10 localities in these indices by 2030, while building a professional, modern and transparent administration that places citizens and businesses at the centre of public service delivery.

However, the 2026 PAR Index self-assessment indicates that further advancements are needed. According to Report No.770/BC-SNV dated October 23, issued by the Department of Home Affairs, Hung Yen had provisionally scored 61.8 out of 68 points as of September 30, with 17 criteria and sub-criteria had yet to achieve their maximum scores.

In response, Hung Yen People’s Committee has directed departments and agencies to review underperforming criteria, implement corrective measures and complete supporting documentation for the official year-end assessment. The province aims to place its 2026 PAR Index and SIPAS among the country’s top 10.

Specific targets have also been established for the fourth quarter of 2026. The province aims to prevent any additional overdue administrative procedure files, while ensuring that all feedback and petitions within its jurisdiction are addressed, answered and publicly reported.

It also plans to provide fully online public services for all eligible administrative procedures and raise the proportion of fully online applications to at least 80 per cent.

At least 85 per cent of administrative procedures involving financial obligations are expected to support online payments, with online transactions accounting for at least 70 per cent of all transactions subject to fees and charges.

Meanwhile, the rate of fully electronic processing of documents and work files has reached 94.1 per cent. The province is continuing to improve data infrastructure and connectivity, while bringing shared information systems into operation.

The results recorded in the first nine months of 2026 highlight the continued expansion of Hung Yen’s economy and the growing importance of improving the investment environment.

Industrial Park No.5 in Hung Yen province. Photo: Quynh Nga

According to the provincial statistics office, Hung Yen’s regional GDP reached approximately $8.75 billion in the first nine months of 2026, representing an on-year growth of 11.2 per cent. This exceeded the growth scenario of 11.1 per cent and ranked seventh among 34 provinces and cities.

Industry and construction expanded by 14.8 per cent, remaining the largest contributor to overall economic growth.

At current prices, regional GDP was estimated at $10.36 billion. Industry and construction accounted for around 55.6 per cent of the economic structure, with industry alone representing nearly 45.2 per cent, highlighting the sector’s central role in the provincial economy.

Investment attraction also maintained positive momentum. In the first nine months of 2026, the province enticed approximately $2.72 billion in domestic investment and nearly $1.8 billion in foreign direct investment (FDI).

The province recorded 52 newly registered foreign-invested projects with total registered capital touching $713.7 million, while 74 existing projects registered additional capital of over $1 billion. The substantial volume of additional investment reflects continued expansion demand among foreign investors already operating in the province.

The expanding investment base is placing greater demands on the quality of business support throughout project implementation. Hung Yen is paying close attention to reviewing the progress of projects that have received investment policy approval, those registering additional capital, and projects currently under investment promotion.

Hung Yen’s industrial park network provides serviced industrial land and synchronised infrastructure. Photo: Quynh Nga

The province is also working to resolve obstacles relating to planning, land, site clearance, infrastructure and investment procedures, while seeking to renew investment promotion and investor support activities to increase total investment attraction in 2026 compared with the previous year.

Alongside the Provincial Competitiveness Index and PAR Index, improvements in the Provincial Green Index are also being linked to selective investment attraction, stronger environmental management, and support for businesses transitioning towards greener production.

The Department and District Competitiveness Index provides an additional mechanism for assessing the governance quality of individual departments and localities from the business perspective. It helps identify administrative bottlenecks, cumbersome procedures, and prolonged processing times, providing a basis for targeted improvements.

Infrastructure development and public investment disbursement are another priority in strengthening the province’s investment appeal.

As of September 30, the total public investment plan, following a 5 per cent saving from local budget resources, stood at approximately $2.26 billion, of which about $2.24 billion had been allocated.

Disbursement approximated $1.13 billion, of which disbursement from the 2026 capital plan alone amounted to nearly $1.05 billion, equivalent to 60.3 per cent of the plan assigned by the Prime Minister.

These coordinated efforts will help strengthen business confidence, attract strategic investors, improve the quality of investment inflows, and underpin the province’s sustainable growth ambitions for 2026-2030.

Molex opens its expanded manufacturing facility in Hung Yen Global electronics and connectivity solutions provider Molex has completed the initial building phase of its expanded manufacturing plant in Hung Yen, strengthening its high-tech manufacturing footprint in Vietnam as its second site in the country.

Hung Yen’s regional GDP beats expectations Hung Yen’s regional GDP grew 11.2 per cent in the first nine months of 2026, exceeding the 11.1 per cent growth scenario, with industry remaining the key growth driver, supported by construction and investment.

Hung Yen unveils adjusted master plan with three economic zones Hung Yen's adjusted provincial master plan for the 2021–2030 period, with a vision to 2050, establishes a development framework of three economic zones, two corridors, and seven development axes, providing a basis for reorganising economic space and mobilising resources in the new phase.

Hung Yen boosts infrastructure to tap coastal growth potential Hung Yen is expanding its coastal economic space through transport infrastructure, seaport development, and logistics planning. Better connectivity between production hubs, industrial zones, and cargo networks will be key to unlocking new growth potential.

All five artists speak English at a native level, connecting with fans through their personalities and humor.

Blending pop, anime-inspired fantasy and pet companions, the group opens a multiverse where music connects different worlds. HYPEVERSE invites young fans to see their differences as strengths and believe in the future they can create.

The studio says U.S. fans find its videos fun and entertaining. Comments include "on replay for days now!!" and "I love the song and can't wait to see more of the group's success!"

Released October 7 through Universal Music Korea, the pre-debut single "Weirdo" celebrates individuality and the freedom to love what you love.

HYPEVERSE earned the Next Icon award as "Most Anticipated Virtual Idol of 2027" in the topceleV News Awards 2026, presented by Korea's No. 1 virtual entertainment media outlet.

Top K-pop producers, world-class virtual production and advanced AI technology bring its expanding universe to life.

"We want to create content that inspires young people to stay hopeful and creative in the age of AI." — Simon Shin, founder of Philandart Studio

Watch: https://youtu.be/QN9EsXNnKkw

The launch comes as unmanaged AI use draws closer scrutiny. A 2026 industry study of data breaches found that incidents involving shadow AI, meaning AI tools used by employees without IT approval, accounted for 43% of all breaches, up from 20% in 2025. Among organizations reporting an AI-related security incident, 92% lacked adequate AI access controls.

Enterprises can usually see who uses AI and how much. Leadership still lacks answers on whether that use is sanctioned, whether it reaches real work, and what it produces.

For every enterprise, the AI Adoption Index lets leaders:

• Map: See how AI is used across teams, from AI-Aware to AI-First.
• Measure: Identify which teams are behind on adoption.
• Mitigate: Detect shadow AI and keep a permanent audit trail.

Usage analytics stop at activity. Governance and security tools control approval and spend but cannot show whether AI changes how work gets done, and a separate set of tools tracks output shipped. The AI Adoption Index brings all three views together in one place, across every AI tool and every team.

"ProHance is envisioning to solve a critical problem of assessing AI's impact on the workforce by helping leaders understand how to reskill and reshape their workforce with AI by measuring actual impact of AI and humans together," said Ankur Dhingra, CEO, ProHance. "AI Adoption Index shows leaders who is using what, how deeply, at what cost, and where AI is running without approval, measured from the work itself, so they can decide where to act."

The Index follows ProHance's launch of its outcome measurement layer for Outsourcing Performance Management (OPM), which gives enterprises independent evidence of what their outsourced and contingent teams deliver. Across both launches, ProHance is focused on driving visibility for enterprises, so that AI-ready organizations can improve outcomes from their people and their AI together.

Under the initiative, a three-year program will be implemented from 2027 to 2029. It will focus on attracting and developing Bahraini talent, particularly fresh graduates and new entrants to the labor market, for roles across audit, consulting, tax, strategy, and transactions. The hub also aims to equip Bahraini talent with the practical experience and skills required for future professions, particularly in artificial intelligence (AI), digital transformation, cybersecurity, sustainability, and financial services. This will help meet the needs of clients in Bahrain and across the wider region for specialized talent in high-growth sectors, while enhancing the competitiveness of Bahraini professionals and reinforcing Bahrain's position as a hub for talent and high-value professional services.

Commenting on the initiative, Her Excellency Ms. Maha Abdulhameed Mofeez, Chief Executive of the Labour Fund (Tamkeen), said: "At Tamkeen, we remain committed to directing our support towards initiatives that create sustainable employment opportunities for Bahrainis in sectors with strong growth potential and significant economic impact. This MoU with EY that aims to establish an EY Talent Hub in the Kingdom of Bahrain supports the development of Bahraini talent by equipping them with the advanced skills and practical experience required for future professions, while benefiting from the company's global expertise and best practices. This comes as part of our ongoing efforts to support Bahrainis in accessing quality, high-value employment opportunities and enabling their career growth and progression in line with evolving labor market needs, ultimately contributing to strengthening the competitiveness of the national economy."

Nader Rahimi, EY MENA Assurance Partner, said: "As new technologies reshape business and the skills needed to succeed, investing in talent must keep pace. This initiative with Tamkeen, with the support of the Bahrain Economic Development Board, is about equipping Bahraini professionals with the practical experience, capabilities, and confidence to thrive in a rapidly evolving environment. By developing skills across areas such as AI, digital transformation, cybersecurity, and sustainability, we aim to prepare the next generation not only to adapt to change, but to lead through it. Our ambition is to empower the decision makers of the future with the knowledge and experience to create long-term value for their communities, local businesses, and the wider regional economy."

EY brings together capabilities across audit, consulting, tax, strategy and transactions, combining professional expertise with experience in areas such as technology and transformation to develop talent and support organizations navigating an evolving business environment.

This initiative forms part of Tamkeen's ongoing efforts to support the creation of quality employment opportunities for Bahrainis and empower private sector enterprises to invest in national talent, in line with national priorities for building a sustainable, innovation- and knowledge-driven economy.

The initiative also aligns with Tamkeen's strategic priorities for 2026, which focus on supporting initiatives with significant economic impact, enhancing private sector competitiveness, aligning skills with labor market needs, and adopting innovative approaches to stimulate the growth and expansion of startups, contributing to sustainable economic development in the Kingdom.

The acquisition combines BMO's global investment banking and distribution capabilities with Euroz Hartleys' deep Australian expertise in equities research, institutional sales and trading, equity capital markets, mergers and acquisitions, and strategic advisory. The combined platform connects clients more directly with capital, investors and opportunities across Australia, North America and Europe.

BMO has operated in Australia since 2004 with an office in Melbourne. The addition of the Euroz Hartleys capital markets team in Perth significantly expands BMO's Australian capabilities and establishes a broader platform serving corporate and institutional clients.

BMO has been recognized as the world's best Metals & Mining Investment Bank by Global Finance Magazine for 17 consecutive years.

The total represents the aggregate value of new mandates awarded to SICO across its Asset Management, Wealth Management, and Investment Banking businesses, spanning a diverse range of asset classes, predominantly in public markets, with the remainder in private markets. This includes approximately USD 1.4 billion in new inflows and investments into public and private funds and portfolios managed by SICO, in addition to more than USD 200 million in transactions and mandates across public and private markets and alternative investment products.

Commenting on the announcement, Najla Al Shirawi, Group CEO of SICO, said: "The USD 1.6 billion in new mandates awarded to SICO by institutional and individual investors across Asset Management, Wealth Management, and Investment Banking reflects their confidence in our capabilities, the strength of our client relationships across the region, and our ability to meet their diverse investment needs. We remain focused on connecting capital with opportunity, expanding our investment capabilities, and delivering long-term value for our clients."

Looking ahead, Al Shirawi added: "Dynamic markets reinforce the importance of innovation, disciplined execution, and client-focused solutions. Our ability to anticipate evolving investor needs and identify emerging opportunities will remain central to our growth and regional leadership. We also commend the Bahrain Economic Development Board for bringing together regional and international investors through Gateway Gulf, and the Central Bank of Bahrain for its continued commitment to strengthening the Kingdom's position as a leading financial and investment hub."

XPENG achieved a new monthly record with total deliveries of 50,237 vehicles in October, up 22% month-over-month and 20% year-over-year. Overseas deliveries also reached an all-time monthly high of 13,326 units, up 166% year-over-year.

In October 2026, the XPENG L05 was officially launched in the Chinese mainland, with deliveries set to begin on November 1, 2026.

On October 26, 2026, XPENG obtained a demonstration operation license to conduct Level 4 Robotaxi services in Guangzhou. The approval enables XPENG Robotaxi to advance from technology validation to real-world operational and business model validation, marking a key milestone toward the commercialization of XPENG's Physical AI technologies.

In October, XPENG achieved MSCI's highest ESG AAA rating for the fourth consecutive year.

XPENG's electric vehicles delivered from January to October 2026 are expected to reduce life-cycle greenhouse gas emissions by more than 5.77 million tons compared to internal combustion engine vehicles, equivalent to the carbon absorbed by 95.43 million young trees over 10 years.

For more information, please visit https://www.xpeng.com/.

The announcement, made at Gateway Gulf 2026 in Bahrain, highlights Investcorp's global investment momentum and its continued commitment to the Kingdom, where it was founded in 1982.

Between January and September 2026, Investcorp raised US$4.8 billion from its global investor base, deployed US$3.7 billion in new investments and recorded US$2.6 billion in exits across its investment businesses. As of September 2026, Investcorp's total assets under management stood at US$65.2 billion.

During the same period, Investcorp achieved significant fundraising milestones across its North America Private Equity and Strategic Capital platforms, securing more than US$2.3 billion in aggregate commitments.

Mohammed Alardhi, Executive Chairman of Investcorp, said: "Investcorp was founded in Bahrain more than four decades ago, and the Kingdom remains central to our global growth and ambitions. Our continued momentum reflects the strength of our international platform and the confidence of our investors and partners. As we look ahead, we remain committed to connecting global capital with alternative investment opportunities, embracing innovation and contributing to Bahrain's position as a leading international financial center."

Key Investment and Innovation Highlights

Investcorp continued to expand its international investment activities during 2026, with significant transactions and milestones across its businesses:

• North American Private Equity: Invested in Berger Financial Group, a leading US wealth management platform.
• US Real Estate: Announced approximately US$800 million in industrial real estate transactions, including acquisitions and exits, alongside a US$200 million acquisition of senior living and multifamily properties across key US markets.
• Private Equity India: Acquired 20Cube 3PL Solutions, a digital-first contract logistics business, to support its expansion and build a pan-India logistics platform.
• Private Equity Europe: Invested in Smart Managed Solutions in the UK, and established a new software engineering growth platform with NetRom Software and Trivium Solutions, focused on AI-enabled software development. Investcorp also acquired a majority stake in Connectif, a Spanish provider of AI-powered marketing automation solutions.
• Private Equity GCC: Acquired a strategic stake in Metra, a regional IT distribution platform, and joined a consortium to acquire Reda Gulf Holding, a leading Saudi-based provider of fire protection, safety, security, and hazard-control solutions.
• Digital Innovation: Investcorp Wealth, launched in 2024 and developed by the firm's Bahrain-based teams, has digitally enabled more than US$620 million in capital raising from clients since its launch, demonstrating its international reach and the important role of Investcorp's Bahrain-based teams in its digital wealth management capabilities.
• Artificial Intelligence: Launched an AI Investment Framework to identify AI-driven investment opportunities, enhance portfolio performance and support long-term value creation.

These achievements reflect Investcorp's ability to connect investors with opportunities across North America, Europe, the Middle East and Asia. Investcorp's participation in Gateway Gulf 2026 reinforces its longstanding commitment to Bahrain and the Kingdom's role as a gateway for global capital and financial innovation.

The announcement was made at fourth edition of Gateway Gulf, held on 1–2 November 2026 at the Four Seasons Hotel Bahrain Bay. Hosted by the Bahrain Economic Development Board (Bahrain EDB), the invitation-only forum gathered over 200 global ministerial and senior government officials, visionary chief executives, and investors in Bahrain to explore high-value investment opportunities and partnerships across the Gulf.

The four newly-awarded Golden Licenses comprise the following projects:

• Reinforcing its commitment to its MENA hub in Bahrain, DHL will establish its first and only regional maintenance, repair, and overhaul (MRO) facility at Bahrain International Airport, supporting its growing fleet and expanding capacity for global operations from the Kingdom.
• Three major aviation ventures led by Capital A, the parent company of AirAsia, are set to enhance connectivity with the Far East and Europe, expand air cargo capacity through phased freight growth, and advance in-country aircraft MRO capabilities, further reinforcing Bahrain's position as a regional aviation hub.
• A landmark waterfront development in Amwaj by Meliá, in partnership with Infracorp, will feature a five-star hotel and Meliá-branded residences, further elevating Bahrain's premium tourism and lifestyle offering.
• Digital City Bahrain will establish a next-generation hub for ICT, innovation, and education, supported by world-class infrastructure and designed to attract cluster technology companies, accelerate sector growth, and further advance Bahrain's digital ecosystem.

At the heart of Bahrain's investment environment is the Team Bahrain approach, a distinctive model of public-private partnership that brings government and business together to create the conditions for investment and enterprise to thrive. Bahrain EDB plays a central role in this ecosystem, serving as a bridge between investors and government and helping translate opportunity into long-term growth. This collaborative approach is underpinned by Bahrain's continued investment in digital transformation, progressive regulation, and future-ready talent, alongside a diversified economy in which non-oil activity accounts for around 86% of GDP, providing a resilient foundation for sustainable growth.

A Star-Studded Opening Celebration

The festival kicked off with fan-favorite duo Namtan Tipnaree and Film Rachanun, who brought their charm and creativity to the celebration, featuring a special charity art auction of their artworks. All proceeds will benefit the Kamlangjai Project, supporting opportunities and new beginnings for inmates and former inmates. The excitement continued with a special mini concert by Billkin Putthipong, followed by electrifying music from DJ ROOTS and PATRA B, making it a night to remember.

And the excitement doesn't stop there. Here are 5 reasons to experience this year's spectacular flower festival.

1. Six Floral Worlds, Endless Photo Opportunities

Explore six picture-perfect floral worlds across Floors G–5: WHITE VIBE, featuring elegant white blooms and a 3.8-metre giant vase; SWEET BREEZE, with ballet-inspired floral displays; GOOD MOOD, a pastel meadow with 31 adorable sheep sculptures; THE HIDDEN WONDER OF TREE ROOTS, an imaginative nature-inspired installation; HANG HANG, showcasing vibrant hanging floral art; and KEEP SMILING, a playful meadow with charming dog sculptures. Every floor offers a picture-perfect moment!

2. Discover Art & Flowers by Japanese Artist YUTA OKUDA

Experience a stunning Art & Flower Installation by YUTA OKUDA, featuring colourful handcrafted flowers made from corn husks, at the connecting tunnel between Central Chidlom and Central Embassy. Continue your creative journey with "A Canvas to Carry: Tote Bag Painting Workshop" on Floor 5 at Central Embassy.

3. Get Creative with DIY Workshops & AI Beauty Experiences

Enjoy hands-on activities including Blooming Keychain, Flower Patch on Tote, Malai Bar & Styling (traditional Thai floral garlands reimagined as fashion accessories), Resin Mobile Case, Hammered Flower Art and Perfume Atelier workshops.

Discover CENTRAL SKIN AI, offering AI-powered skin analysis in approximately five minutes, along with complimentary skincare samples at Beauty Galerie, Floor G. Step into a 3D floral world at Samsung Flower Galaxy Studio, and join the Flower Stamp Rally across eight locations for a THB 100 dining voucher, limited to 100 redemptions.

4. Taste Exclusive Floral Menus from 10 Popular Restaurants

Discover floral-inspired dishes and drinks from Weng, Shichi, Mozza by Cocotte, Ăn Cơm Ăn Cá, The Rolling Pinn, Greyhound, Pash Juices, Taproom, Aeb Zaab Songprapa and Lofter. Don't miss Blossom Bedazzling and the Blooming Wall at Lofter, Floor 6, plus traditional Thai floral-inspired desserts at Eathai, Central Embassy.

5. Shop Exclusive Collections & Enjoy Over THB 8 Million in Rewards

Enjoy up to 30% off new arrivals, plus Only at Central, Limited Edition and New Drop collections from brands including Estée Lauder, La Mer, Mardi Mercredi, SEIKO, adidas and Pandora. Get combined shopping privileges of up to 32% and discover exciting rewards.

At Central Chidlom, spend THB 5,000 in a single receipt to enter the CENTRAL WONDERS BLOOM MYSTERY BOX, featuring over 3,000 prizes. Fitness lovers can join RUN FOR REWARDS for a THB 400 shopping discount coupon upon presenting proof of a 5 km or 10 km run. Additional privileges await international visitors and The 1 Expat members.

One Destination, Endless Reasons to Visit. From art and creativity to dining and shopping, experience a world of Good Mood & Good Vibes in the heart of Bangkok.

Central Chidlom, Bangkok
29 October – 2 November 2026

Activities, promotions and privileges are subject to terms and conditions. Selected workshops require qualifying purchases.

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

• Global pedagogical thinking, led by educators from Reggio Children and informed by the educational experience of Reggio Emilia.
• Regional best-practice exchange, with educators from Singapore and across the region presenting enquiries grounded in their own cultural and educational contexts.
• Immersive professional learning, including atelier experiences and school visits, connecting educational philosophy with everyday practice.

• Full speech by Senior Minister of State Goh Pei Ming (below release).
• Conference photos

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

1. SCTP Cybersecurity: Network Security and Digital Forensics: https://sctp.pd.sim.edu.sg/sctp-cybersecurity-network-security-digital-forensics/
2. Skillsfuture website – SIM Cybersecurity: https://courses.myskillsfuture.gov.sg/search?q=cybersecurity%20sim&page=1&termOrigin=ORGANIC
3. Beyond the Hacker Myth: The Real Cybersecurity Boom in Singapore:
   https://www.scs.org.sg/articles/beyond-the-hacker-myth-the-real-cybersecurity-boom-in-singapore
4. Building Opportunities For Growth In Cybersecurity:
   https://www.csa.gov.sg/news-events/speeches/opening-address-by-sms-tan-kiat-how-at-the-aisp-student-volunteer-recognition-programme-(svrp)-awards-ceremony/
5. Singapore's Cybersecurity Talent Shortage: Why It's Your Career Opportunity: https://www.centreforcybersecurity.com/blog/cybersecurity-career-singapore-talent-shortage-2025
6. 2025 ISC2 Cybersecurity Workforce Study: https://www.isc2.org/Insights/2025/12/2025-ISC2-Cybersecurity-Workforce-Study

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

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

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

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

Website: www.ophhealth.com

The upgrade is scheduled to take place from 7 pm on November 7 to 8 am on November 8. This investment forms part of Techcombank’s broader technology strategy to further improve service quality, enhance operational performance, and deliver faster, more seamless banking experiences for customers.

During the upgrade period, certain banking services may be temporarily unavailable. The following services will continue to operate normally: POS services and credit card transactions that do not require customers to enter new card information.

The bank will make every effort to minimise the implementation timeframe. However, depending on actual conditions, completion may occur earlier or later than planned. Customers will receive timely updates through Techcombank’s official communication channels.

To minimise any inconvenience, customers are advised to complete important transactions in advance of the upgrade window.

Techcombank also reminds customers to remain vigilant against fraud. Customers should never disclose personal information, passwords, or one-time passwords, nor click on suspicious links or files that may contain malicious software.

For urgent assistance, customers may contact Techcombank’s 24/7 customer service hotline, including 1800 588 822 for Individual Banking, and 1800 6556 for Business Banking.

As one of Vietnam’s leading banks in digital transformation, Techcombank continues to invest significantly in technology, data, and digital capabilities to create long-term value for customers.

The core banking upgrade represents another milestone in strengthening the bank’s technology infrastructure, enabling more reliable, secure, and scalable services for both individual and business customers.

As of the end of the third quarter of 2026, Techcombank served more than 19.1 million customers and reported a record profit before tax of $403.5 million in Q3/2026, bringing 9M/2026 profit before tax to $1.12 billion, up 23.7 per cent on-year.

Growth was supported by a diversified revenue base, with net interest income increasing 17.9 per cent on-year to $453.9 million, while fee and commission income rose 44.6 per cent to $163 million.

These results reflect the successful execution of Techcombank’s strategy, disciplined risk management, and the continued strength and diversification of its growing ecosystem.

Techcombank launches CNY transactions as Vietnam-China trade booms Import-export activities through border gates are expanding and modernising, driving a growing need for foreign currency payments and cash flow management among businesses.

Techcombank CEO: AI no longer a tool but a new operating foundation Attending AWS Cloud and AI Day Hanoi 2026 on September 29, Jens Lottner, CEO of Techcombank, shared his vision for building an AI-First Bank model, emphasising the role of AI in shaping the future of the financial services industry.

Techcombank posts strongest quarter on record Techcombank's pre-tax profit rose 23.7 per cent to VND28.9 trillion ($1.1 billion) in the first nine months of 2026, driven by growth across diversified income streams.

Speaking at a session titled “Connectivity to Value: The Next Phase of TOD in Vietnam,” part of the UK-Vietnam Business Forum 2026, on October 29, city officials, developers, property advisers, and urban designers discussed how to make the most of the country's spending on urban rail, as Ho Chi Minh City puts legal foundations under the transit-oriented development (TOD) model.

Dr. Jingfeng Xu, Vietnam country director of Arup, a London-headquartered engineering and urban design consultancy, opened by arguing that TOD is about daily life rather than density tables or land values.

“Choosing a new office for his own staff began as a property exercise but became a study of how a neighbourhood works, from safe walking routes in heat and rain to affordable lunches,” Xu said.

According to Xu, no single organisation by itself can do this alone. It requires government, transport authorities, developers, investors, planners, designers, and communities to work across traditional boundaries, and to think about the whole community and the whole place, rather than individual assets.

Huynh Pham Tuan Anh, deputy director of Ho Chi Minh City Department of Planning and Architecture, set out how the city is preparing.

“TOD must cover services and public space within a set radius of each station, and that underground and above-ground space around stations could also be developed. Land is the central constraint, he noted, and much of it must come from the state” Anh said.

On the legal side, Anh said the city has been working through a package of seven resolutions, of which four have been implemented and three are due soon while local authorities now carry responsibility for decisions.

“The role of the city council as well as the city administration is very important in building a policy that is compatible with the business experience,” he said. “I also hope that with the expertise of experts, such as investors on the ground, especially in the field of real estate development, it will help us a lot in the implementation of the legal regulations that we have built.”

Developers were quick to warn against shortcuts. Dr. Le Nguyen Minh Quang, director of railway and urban development at Becamex Group, said his company was not chasing fast returns.

“At Becamex, we are not looking for the quick win because we would like to build a long-term benefit for the city and for the country,” he said.

Quang, who ran the city’s urban railway management authority from 2016, was particularly critical of the build-transfer (BT) model, under which a private firm builds a line in exchange for land. He noted that China used the approach from 2000 to 2015 before stopping.

“With the BT, there is the risk of the misalignment between the construction and the operation,” he said. “At Becamex, we have a master developer who builds the line from the beginning, for the construction of the line, the development of the land, and the operation. This is the responsible way that we need to look at and try to advocate, rather than propose the BT model,” he added.

Luu Thi Thanh Mau, CEO of Phuc Khang Corporation said that Vietnam has strong fundamentals for TOD: rapid urbanisation, major investment in metro and transport infrastructure, and growing public expectations for healthier, more liveable urban environments.

“My confidence comes from the fact that TOD is no longer seen only as a transport or real-estate concept; it is increasingly understood to create complete, inclusive and resilient communities,” Mau said.

According to Mau, sustainability, housing quality and quality of place are not costs to be minimised; they are the foundations of long-term value. A development that is well-designed, energy-efficient, green, walkable and socially inclusive is more likely to retain residents, attract businesses, reduce operating risks and maintain its relevance as the city changes.

“For developers, this means designing for the whole life cycle of a project-not only the initial sale. It means investing in public space, landscape, shade, ventilation, community facilities, maintenance and management. It also means ensuring that housing serves different income groups and household needs, so that the place remains diverse and vibrant over time,” she said.

She added that if Vietnam is to accelerate TOD delivery over the next decade, the most important commitment is to design and deliver places around people, not around vehicles.

“That requires long-term collaboration among government, developers, investors and communities to align planning, infrastructure, housing, public space and operations from the earliest stage,” Mau added.

Neil McGregor, CEO of Savills Vietnam, said the market was already changing. After years of working in Vietnam, he said his confidence rests on its track record.

“Vietnam has a remarkable success rate at getting things done, breaking down barriers, getting through challenges, and making things happen,” he said. “We have a fantastic legal framework now (Vietnam’s Law on Urban Development, which took effect on October 1). We also have talk of evolving capital markets around the VIFC to bring more international capital in.”

McGregor also noted that buyers and tenants are gradually shifting away from a speculative mindset.

“People can see the infrastructure coming. It is real, it is happening, it is being finished largely according to timeframes that governments have provided,” he said. “Now, office occupiers now ask whether good food outlets and affordable gyms are close by, not just whether a building has green certification.”

Delivering urban railways and transit-oriented development Vietnam’s efforts to expand urban rail and sustainable city development have increased attention on transit-oriented development and digital delivery tools. Giang My Huong, director of Capital Projects and Infrastructure at PwC Vietnam, shared with VIR’s Khanh Linh how PwC is supporting climate-resilient urban transport delivery.

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

Lite-On Technology's Board of Directors approved cash capital injections of $210 million into Lite-On Technology Vietnam Co., Ltd., and $110 million into Lite-On Vietnam Co., Ltd., according to filings dated October 30 with the Taiwan Stock Exchange.

According to disclosures filed with Taiwan's stock exchange, the capital will be injected in phases, depending on actual demand, and would come from the group's own resources.

Following newly approved capital increases, Lite-On's cumulative investment in Lite-On Vietnam is expected to reach approximately $542.5 million, while its investment in Lite-On Technology Vietnam will total around $369 million, according to the company's disclosures.

These expansions are implemented in the context of AI infrastructure demand accelerating, with a higher contribution from high-value businesses driving revenue and profit growth.

“Global demand for AI computing and data centre infrastructure continues to grow, driving increased demand for high-end AI server power supplies, cloud computing products and power management systems. This momentum drove an 80 per cent on-year increase in cloud computing-related revenue for the first nine months of the year," Anson Chiu, president of Lite-On Technology, noted at its financial report for the third quarter, which was published on October 30.

"Lite-On continues to deepen its presence in high-value AI infrastructure businesses, with AI-related revenue now accounting for more than 30 per cent of total revenue this year. Looking ahead, we will focus on high-value opportunities in AIDC power management, liquid cooling and optical communications, leveraging technology innovation and system integration while accelerating critical technology development through strategic investments and M&A," he added.

Lite-On specialises in manufacturing printed circuit boards, printers, scanners, wi-fi modules, and electronic components in Vietnam.

Entering the country in 2013, Lite-On Vietnam specialises in semiconductor components and electronic parts manufacturing at Vietnam-Singapore Industrial Park (IP) in the northern port city of Haiphong. The company inaugurated its phase-two factory at the site in November 2022.

Meanwhile, the company is developing a major manufacturing facility at Song Khoai – Amata Halong IP in Quang Ninh, with a total planned investment of around $690 million and a site area of roughly 30 hectares.

Lite-On Technology kicks off factory construction at Amata City Ha Long IP Lite-On Technology Group broke ground on its highly anticipated Lite-On Quang Ninh factory in the northeastern province of Quang Ninh on March 18.

Lite-On Technology to inject additional $149 million into Vietnam Taiwanese electronics maker Lite-On Technology plans to inject an additional $149 million into its wholly owned subsidiaries in Vietnam to expand production capacity and strengthen its manufacturing footprint.

Citi warns of intensifying competition for capital amid higher rates Citi believes a new era of competition for capital is emerging as governments and corporations increasingly compete for funding amid rising borrowing needs, resilient economic growth and accelerating investment in AI.

The bank has currently capped foreign ownership at the maximum permitted level of 30 per cent. Although it is among the banks without a strategic shareholder but with the highest foreign ownership ratio, ACB still has approximately 7 per cent of headroom available for strategic investors sharing its long-term vision.

Meanwhile, Eximbank has recently taken steps to broaden access for foreign investors.

Banks are stepping up efforts to entice foreign strategic investors. Photo: baodautu.vn

At its third extraordinary general meeting of shareholders in 2026, held on October 14, the bank approved the removal of its charter provision capping foreign ownership at 6 per cent of charter capital. Foreign ownership will henceforth be governed by Article 63 of the Law on Credit Institutions.

Eximbank’s chairman Nguyen Le Quoc Anh said the change would have a positive impact on the bank's valuation, enabling foreign investors to assign it a higher market value.

According to chairman Quoc Anh, the adjustment was made at the request of the State Bank of Vietnam and would not affect shareholders' rights.

Removing the bank's separate charter-based cap gives Eximbank greater room to engage foreign investors considering equity stakes.

However, easing ownership restrictions only creates the necessary legal conditions; the bank's ability to attract actual capital inflows will also depend on its valuation, profitability outlook, risk profile and the partnership opportunities it can offer.

Developments at VPBank, however, illustrate how differences between desired ownership stakes and price expectations can become an obstacle to a transaction.

In late September, Japan's Sumitomo Mitsui Financial Group was reportedly seeking to increase its stake in VPBank to 20 per cent, but the two sides had yet to agree on a price, renowned newswire Reuters reported.

In 2023, SMBC paid approximately $1.5 billion for a 15 per cent stake in VPBank, at a price around 40 per cent above the market level at the time of the transaction.

However, according to Reuters the Japanese side was unwilling to accept a similar premium this time and was holding internal discussions on the possibility of increasing its stake through on-market purchases rather than a private placement.

An additional investment in VPBank is reportedly expected to help SMBC expand its access to Vietnamese consumers and businesses.

Earlier, at its 2026 AGM held in April, VPBank approved a plan to privately place more than 624.3 million shares with a foreign investor.

The offering price will be determined through direct negotiations with the investor, but must not be lower than the latest book value per share, based on the consolidated financial statements for the quarter immediately preceding the offering. The issuance is expected to take place in the third or fourth quarter of 2026.

Beyond adjusting ownership limits and preparing share issuance plans, many banks are also actively seeking foreign partners with strong financial resources and international experience.

According to Reuters, France's BNP Paribas and South Korea's KB Kookmin Bank are holding separate negotiations to acquire at least 15 per cent of Techcombank as strategic investors.

The deal is reportedly worth approximately $2 billion, although the parties involved have yet to comment on the information.

Previously, Techcombank CEO Jens Lottner said the bank was considering selling up to 15 per cent of its shares to a suitable long-term strategic investor, while also seeking capable partners, particularly in technology.

Taking a different approach, HDBank announced its strategic direction of strengthening international cooperation at its 2026 AGM in April, and recently unveiled a plan to privately place up to 700 million shares with domestic and foreign professional securities investors.

Opportunities to entice foreign capital at some banks have also been expanded by a mechanism allowing the foreign ownership ceiling to rise to 49 per cent for institutions participating in the restructuring of weak banks. The institutions include HDBank, MB, and VPBank.

Alongside banks actively seeking strategic partners, several other lenders also have plans to increase capital or retain significant headroom to attract foreign investors. However, not every capital-raising plan necessarily entails the entry of a new strategic shareholder.

For instance, OCB plans to issue 399.46 million shares, equivalent to 15 per cent of its charter capital, to existing shareholders through a bonus share issuance funded by its equity.

Upon completion, the bank's charter capital will increase from $1.065 billion to $1.225 billion. Following the issuance, Aozora Bank, Ltd. is expected to remain OCB's sole major shareholder, with a 15 per cent stake, unchanged from previous years.

For VIB, after Commonwealth Bank of Australia (CBA) completed its divestment of its remaining stake in March 2025 in line with its roadmap, the bank's management said it had engaged with several banks and investment funds to seek suitable partners.

More broadly, plans to ease foreign ownership limits, issue shares, and seek strategic partners are unfolding amid growing market interest in M&A in the banking sector.

Alongside changes to the regulatory framework and capital-raising pressure arising from Basel III standards, the need to strengthen financial capacity is providing further impetus for banks to seek external resources.

Nam A Bank named in top 10 largest listed banks in Southeast Asia Nam A Bank has been recognised for the first time in the list of the 50 largest publicly listed banks in Southeast Asia based on financial performance, ranking 10th across the region. The ranking by S&P Global Market Intelligence is based on fiscal year 2025.

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

Banks face three-way test as AI reshapes digital finance With Vietnam’s banking system processing around 100 million payment transactions a day, the next phase of digital transformation hinges on whether banks can turn AI and data into tangible gains while strengthening customer trust and cyber resilience.

These priorities shaped discussions at the Nordic–Vietnam Business Summit 2026 in Ho Chi Minh City on October 29, where Carlsberg Vietnam participated as a strategic partner.

Organised by NordCham Vietnam and its partners within the Autumn Economic Forum 2026, the summit explored how stronger international ties can support investment, technology cooperation, and sustainable growth.

Peter Wachenschwanz, senior director of Integrated Supply Chain at Carlsberg Vietnam, joins the leadership dialogue on the next chapter of Nordic–Vietnam cooperation at the Nordic–Vietnam Business Summit 2026. Photo: Carlsberg Vietnam

Representing Carlsberg Vietnam, Peter Wachenschwanz, senior director of Integrated Supply Chain, joined representatives from APM Terminals and Phuc Sinh Corporation in a leadership dialogue.

Carlsberg brought the perspective of a long-term Danish investor, demonstrating how continued investment in operational efficiency, sustainability, and local capabilities can strengthen its business while contributing to Vietnam’s sustainable growth.

Building momentum

The summit followed Vietnam’s state visit to Denmark from October 19-21, marking 55 years of diplomatic relations and the elevation of bilateral ties to a Comprehensive Strategic Partnership. Shared priorities in investment, technology, and the green transition provide a stronger foundation for businesses to develop projects with long-term value.

For Carlsberg, the visit provided an occasion to reaffirm Vietnam’s importance as one of the group’s key growth markets. Group CEO Jacob Aarup-Andersen participated in high-level discussions with Vietnam’s senior leadership and presented Letters of Intent to the chairmen of the people’s committees of Hue and Danang, outlining investment and development intentions for 2026–2031.

These include approximately $65 million in intended investment at Phu Bai Brewery in Hue, focused on modernising production, advancing digital and green transformation, improving resource efficiency, and strengthening quality, food safety, and supply chain capabilities.

In Danang, the company’s intentions encompass commercial development, digital transformation, operational modernisation, and more efficient, sustainable logistics, alongside environmental and community initiatives. Subject to relevant approvals, these plans would build on Carlsberg’s established presence in Central Vietnam and strengthen its manufacturing and commercial capabilities in the region.

Wachenschwanz shared during the discussion, “Long-term investment creates lasting value when technology, people, and partnerships develop together. For Carlsberg Vietnam, the next phase is about building on our expanded capacity to operate more efficiently and sustainably. Combining our global experience with Vietnamese expertise helps us strengthen our business while contributing to Vietnam’s long-term competitiveness.”

Putting cooperation into practice

Carlsberg Vietnam’s Phu Bai Brewery provides a practical example of how sustained investment can support production growth alongside improvements in operational performance.

The nearly $90 million expansion, inaugurated in August 2025, increased annual capacity by more than 50 per cent, making Phu Bai the largest beer production site in Carlsberg Asia and strengthening Vietnam’s role within the group’s regional operations.

Alongside this growth, the new brewing line uses approximately 20 per cent less water and 15 per cent less energy than its predecessor. The brewery’s rooftop solar project is expected to supply up to 10 per cent of its electricity needs, supporting the transition to renewable energy. Real-time performance dashboards help teams monitor line efficiency and maintain consistent quality, while a fully electric forklift fleet and AI-enabled cameras support cleaner and safer operations.

Phu Bai Brewery in Hue, where Carlsberg’s nearly $90 million expansion strengthened production capabilities and established the site as the group’s largest brewery in Asia. Photo: Carlsberg Vietnam

Creating value

The discussion also addressed how the benefits of investment can extend through domestic supply chains. Wachenschwanz, emphasised the importance of looking beyond the brewery gate and working with local suppliers and logistics partners to strengthen efficiency, quality, and sustainable practices.

For Nordic–Vietnam cooperation, these relationships offer a practical route to connect international technology and operating experience with Vietnamese business capabilities. Knowledge sharing, technical cooperation, and skills development can help local partners meet evolving requirements and participate more effectively in international supply chains.

Realising these opportunities requires predictable policies, clear implementation requirements, and effective coordination between businesses and authorities. These conditions help companies move from investment intentions to viable projects and coordinate improvements across manufacturing, energy, and logistics.

After more than three decades in Vietnam, Carlsberg aims to build on its established manufacturing presence and long-standing local relationships through continued investment in operations, people, and partnerships. This approach connects its growth ambitions with Vietnam’s development and brings its purpose of brewing for a better today and tomorrow to life.

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