The Vietnam Fund Awards 2026 is co-organised by the Vietnam Securities Depository and Clearing Corporation, VIR, and FiinGroup, under the auspices of the State Securities Commission (SSC) and with the direction of the Ministry of Finance.

The event will take place in the afternoon on September 22 at the Pullman Hotel in Hanoi. This marks the inaugural edition of the VFA, which aims to establish an objective and transparent reference standard for the fund industry, while connecting regulators, fund management companies, investment funds, financial institutions, experts, and the investor community.

In recent years, the number of funds and investment products in the market has become increasingly diverse, ranging from open-ended funds and exchange-traded funds to products pursuing specialised investment strategies. However, compared with the potential of the economy and the development needs of the capital market, there remains considerable room to expand the scale of the fund industry and strengthen the role of institutional investors.

Alongside the growth of the stock market, the need to build a larger institutional investor base, expand professional investment channels, and unlock medium- and long-term capital for the economy has become increasingly evident.

VFA 2026 will focus on opportunities, challenges, and the conditions needed for the fund management industry to play a greater role in mobilising, managing, and allocating long-term capital.

Photo: VIR

VFA 2026 will include:

• Opening and policy orientation session, featuring remarks by representatives of the organising committee, the Ministry of Finance, and the SSC.
• Presentation session on “Overview of Vietnam’s Fund Industry: Opportunities and Challenges.”
• Awards ceremony recognising high-performing funds and outstanding investment funds in 2026.
• Main discussion session, focusing on major issues facing the fund industry, including restructuring the investor base in Vietnam’s stock market through the development of the fund management industry, as well as developing securities products and infrastructure to support the growth of Vietnam’s fund management industry.
• Recognition of organisations supporting the organising committee and contributing to the development of Vietnam’s fund industry.

HSX market capitalisation gains 7.55 per cent in August Vietnam’s stock market extended its gains in August, with major indices rising and HSX stock capitalisation climbing 7.55 per cent amid robust market activity.

Vietnam’s bank stocks enter a new phase of selective gains Bank stocks are attracting renewed interest as market upgrades draw foreign capital, but gains will be selective. Ngo The Hien, deputy director of the Analysis Centre at Saigon-Hanoi Securities, told VIR’s Nhue Man that growth quality, profitability, and management will increasingly drive valuations.

Vietnam enters new phase of capital market competition As Vietnam prepares to open its first trading session as an emerging market on September 21, leading global financial institutions have gathered in Hanoi to mark a milestone that signals a new era for the country’s capital market and its deeper connection to global capital.

SCG Home specialises in the distribution and retail of products and solutions related to home finishing materials, such as wall cladding, tiles, SPC flooring, fibre cement boards, roofing tiles, sanitary ware, and home décor. The flagship destination, spanning 5,500 square metres in Long Bien, was opened on September 19.

The launch reflects Siam Cement Group's (SCG's) long-term commitment to Vietnam, one of ASEAN's most dynamic markets. By understanding local consumers, SCG Home brings integrated home solutions that meet growing demand for a high-quality living environment.

Leveraging SCG's more than 100 years of expertise in building materials and construction, SCG Home Vietnam brings a distinct competitive advantage to Vietnam's retail ecosystem with smart, innovative home solutions. Beyond traditional retail, it aims to provide customers with a diverse range of products as well as professional advice and complete home solutions.

Tananan Decha-Umphai, director of SCG Home Vietnam, said, “Finishing a home is a journey involving numerous choices. We want to bring that journey into a convenient space where customers can enjoy a seamless and inspiring shopping experience with their families, selecting fixtures and materials for their homes. Our goal is to provide a centralised, comfortable, and inspiring shopping environment for Vietnamese consumers.”

Photo: SCG

SCG Home Vietnam gathers trusted local and international brands across tiles, sanitary ware, furniture, and home solutions. The exhibition space is organised by functional zones, including mock-up houses and realistic bathroom showrooms, allowing customers to see, touch, and feel how products will look in real life before making a decision.

Accompanying customers throughout their shopping journey is a team of consultants who listen to their overall needs and budget, helping to connect choices across different product groups. Attention to the specific needs of Vietnamese families is also reflected in small details, such as the inclusion of safety accessories for the elderly in the bathroom.

Photo: SCG

This experiential space reflects SCG's environmental, social, and governance purpose by introducing products and solutions that support energy efficiency, safety, and improved living environments. The opening of SCG Home Vietnam also marks another step in SCG's strategy to expand consumer-facing solutions in Vietnam, responding to growing demand for home improvement and quality living. This move accelerates SCG's Vietnam growth strategy while highlighting a broader business transformation aimed at elevating living standards for Vietnamese people.

This is SCG Home’s first retail chain in Vietnam and its second international chain. The move builds upon the legacy of SCG – a group that has maintained its leadership in the building materials sector in BrandAge’s Thailand's Most Admired Company rankings for 2025–2026, holding the top spot for 18 consecutive years.

Photo: SCG

Photo: SCG

Starting in Thailand, SCG Home now operates in several Southeast Asian markets, including Cambodia and Vietnam. The brand aims to improve living standards by helping Vietnamese consumers enjoy more comfortable, convenient, and safe homes.

At SCG Home, customers can find a comprehensive range of home products, from wall and floor tiles and wall cladding to sanitary ware, furniture, and home décor, all from genuine brands. Product categories are organised by functional zones, allowing customers to experience products in realistic settings and choose options suited to their family's lifestyle.

30-year SCG backs green development as Vietnam enters next phase of net-zero journey After investing more than $7 billion over three decades, SCG now sees the country's net-zero transition as the next defining chapter of its development.

SCG reports stronger H1 results and reaffirms long-term commitment to Vietnam As Vietnam continues to attract manufacturing investment and accelerate its green transition, SCG says it will continue investing in advanced manufacturing, sustainability and workforce development alongside reporting stronger first-half results.

SCG's tour helps SMEs turn ESG ambitions into action On August 12, SCG, in collaboration with the Vietnam Association for Building Materials and Dan Tri, organised ESG Company Tour 2026 at the headquarters of SCG member PRIME Group.

Taking place on September 22 at the Pullman Hotel in Hanoi, the event will focus on unlocking capital flows for high and sustainable growth.

The programme is co-organised by the Vietnam Securities Depository and Clearing Corporation (VSDC), VIR, and FiinGroup, under the auspices of the Ministry of Finance and the State Securities Commission (SSC).

VFA 2026 takes place as the fund management industry is expected to play a greater role in expanding medium- and long-term funding sources and professionalising the investor base in the stock market.

The total net asset value of securities investment funds in recent years has been around 0.7–0.8 per cent of GDP, while the target is to raise this ratio to 5 per cent by 2030. The significant gap between the current level and the target calls for an increase in the number of funds along with the simultaneous development of products, infrastructure, and the investor base.

As part of the programme, the VFA 2026 conference will open with a presentation on the opportunities and challenges facing Vietnam's fund industry, delivered by a representative of FiinGroup.

Building on an overview of the industry's scale, structure, and growth rate, the discussion will delve deeper into these issues at a panel on building the fund industry ecosystem through strong infrastructure, diverse products, and professional investors. The panel will feature:

• Nguyen Thi Bich Nga, deputy head of the Division for Management of Fund Management Companies and Securities Investment Funds under the SSC;
• Duong Ngoc Tuan, deputy general director of the VSDC;
• Bui Van Huy, general director of FIDT Investment Consulting and Asset Management JSC;
• Nguyen Thi Hang Nga, general director of Vietcombank Fund Management;
• Ngo Thuy Linh, chairwoman of AAS Securities;
• Nguyen Nghia Tuan, deputy general director of SSI Asset Management;
• Nguyen Hai Binh, head of Client Management, Securities Services at HSBC Vietnam.

Representing different parts of the fund industry ecosystem, the speakers are expected to discuss the development of infrastructure, expansion of investment products, distribution channels, and the role of institutional investors, with a view to channelling more long-term capital into professional investment vehicles.

VFA 2026 will also mark the inaugural edition of the Vietnam Fund Awards. According to the organisers, the programme aims to establish an objective and transparent reference framework for the fund industry, support investors in evaluating and selecting products, and strengthen connections among market participants.

For the inaugural edition, 94 funds with combined net assets of around VND90 trillion ($3.5 billion) as of the end of 2025 were included in the assessment. The awards will recognise high-performing equity, bond, exchange-traded, and balanced funds, as well as outstanding environmental, social, and governance/pension funds and open-ended funds that have performed well in developing their investor bases.

The assessment methodology is based on three groups of criteria: returns, accounting for 70 per cent of the weighting; risk, 25 per cent; and stability, 5 per cent. The assessment is primarily conducted over three- and five-year periods, with the 10-year period initially applied to open-ended equity funds.

VFA 2026 serves as an occasion to recognise funds with strong performance while aiming to establish a reference framework capable of tracking fund performance over time, contributing to greater transparency and professionalism in Vietnam's fund management industry.

Capital mobilisation essential for Vietnam's growth targets Vietnam needs a more balanced financial system that reduces reliance on bank lending while strengthening capital markets to finance long-term investment, government officials said at a conference in Hanoi.

Vietnam’s fund industry seeks stronger growth momentum The State Securities Commission held the Smart Investment in the Digital Era conference in Hanoi on August 25, highlighting the need to boost fund investment, encourage longer-term investment strategies and develop a more balanced investor base.

SSC pushes for greater FIE participation in Vietnam's stock market Vietnam's capital market is entering a new phase of development as demand for medium- and long-term capital grows, with internationally backed companies seen as key to adding quality listings and increasing market size.

According to the General Statistics Office, Vietnam's Index of Industrial Production (IIP) rose by 10.8 per cent in the first half of 2026, the strongest on-year growth for the period since 2019, with Thai Nguyen emerging as a major destination for foreign investment.

As of June, foreign direct investment (FDI) into the province’s industrial parks had reached $8 billion, the highest level recorded to date, placing Thai Nguyen among Vietnam’s leading FDI destinations in the first half of the year.

MTA Hanoi 2026 returns from October 13–15 at the VEC, Hanoi. Photo: MTA Hanoi 2024

These investment inflows are expanding existing manufacturing capacity while also driving growth in more technology-intensive sectors, ranging from electronics and advanced materials to supporting industries.

Meanwhile, Bac Ninh continues to strengthen its position as one of northern Vietnam’s key electronics and high-tech manufacturing hubs. Its industrial parks have attracted an extensive network of global players, from Samsung, Foxconn, Amkor, and Canon to numerous other international companies, creating a manufacturing ecosystem spanning electronic components, semiconductors, and a wide range of high-tech products. In the first six months of 2026, newly registered and adjusted FDI in Bac Ninh’s industrial parks exceeded $2.2 billion.

At the same time, Haiphong and Hanoi are expanding their respective roles within the industrial value chain along different paths. Haiphong is accelerating its development in processing and manufacturing, high technology and logistics, recording more than $3.1 billion in FDI and a 14.8 per cent increase in IIP. Hanoi, meanwhile, is focusing on higher-value sectors such as semiconductors, AI, research and development, and supporting industries, attracting approximately $3.44 billion in foreign investment during the same period.

These developments indicate that manufacturing in northern Vietnam is entering a new phase, characterised by increasingly stringent requirements for precision, automation, quality control, and integration into global supply chains. As a new generation of factories begins to take shape, the need to identify technologies capable of addressing real-world production challenges is becoming increasingly evident. Against this backdrop, MTA Hanoi 2026 aims to connect manufacturers with technology providers, solutions and industry experts to address real-world production challenges.

MTA Hanoi 2026 features 10,000 square metres of exhibition space with five international pavilions. More than 300 exhibitors come from over 20 countries and territories, including China, Germany, Hong Kong, India, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, the United States and more. It is expected to welcome more than 8,000 trade visitors.

The event will be co-located with ProPak Hanoi 2026 and SemiTronics Vietnam 2026, creating a multi-sector business platform where precision engineering, electronics and semiconductors, as well as processing and packaging technologies, converge.

Photo: MTA Hanoi 2024

Beyond serving as a technology showcase, MTA Hanoi 2026 aims to build a more focused business and industry networking platform connecting solution providers, manufacturing enterprises and the factory community across northern Vietnam.

Focusing on the real-world needs of businesses, 'Speed Matching' at MTA Hanoi 2026 connects companies with the right partners based on their specific requirements for technologies, solutions, and supply capabilities. Pre-arranged one-on-one meetings of approximately 10–15 minutes enable businesses to quickly assess potential fit and open the door to deeper collaboration opportunities beyond the exhibition.

Introduced at MTA Hanoi, Factory Champion – The Factory Ambassador Programme brings together key leaders, managers and engineers from manufacturing plants. Beyond visiting the exhibition, Factory Champions will share their real-world needs, challenges and production priorities, while providing insights into the relevance and practical applicability of technologies and solutions in actual manufacturing environments. Through these insights, the programme contributes to shaping more industry-relevant content and networking activities at MTA Hanoi, while creating a meaningful bridge between manufacturers and technology providers.

Industry seminars and forums will bring together leading industry associations, including Vietnam Automation Association, Hanoi Supporting Industries Business Association, Vietnam Association of Mechanical Industry, and Vietnam Federation of Mechanical Engineering Associations, to discuss key manufacturing priorities such as smart factories, industrial AI, supporting industries, mechanical engineering, clean energy, and sustainable supply chains.

By bringing practical perspectives to the forefront, the programme helps businesses explore relevant solutions and actionable approaches to strengthen their competitiveness and deepen their participation in global supply chains.

Industry seminars and forums will address key topics shaping the sector. Photo: MTA Hanoi 2024

Register today to stay updated on industry developments, find the right manufacturing solutions, and build valuable connections for long-term growth!

Opportunities for Vietnamese manufacturing industry In the framework of MTA Hanoi 2019, the largest international trade show for precision engineering, machine tools, and metalworking taking place on October 16-18, the conference “From Manufacturing in Vietnam to Made-in-Vietnam Products” attracted a great deal of interest.

Excellent opportunities for engineering and manufacturing community at MTA exhibition A major engineering and manufacturing community exhibition is set to take place in Hanoi next month, which will play a vital role as a trade bridge in the field of engineering and manufacturing industry in the north.

MTA Hanoi 2022 welcomes hundreds of local and international exhibitors The eighth international precision engineering machine tools and metalworking Exhibition & Conference – MTA Hanoi – organised by Informa Markets Vietnam on October 12-14, attracted hundreds of local and international exhibitors.

The flagship anniversary event was held in the presence of Guest of Honour Edwin Tong, Minister for Culture, Community and Youth & Second Minister for Law Singapore, who witnessed representatives from key beneficiaries receive donation cheques from GSG. The donations will primarily enhance accessibility features in special education schools across East Coast GRC and support inclusive community spaces, including the Institute of Technical Education (ITE), President's Challenge, and the People's Association via the Siglap South Community Centre redevelopment.

GSG also announced new long-term community partnerships with the North East Community Development Council (CDC) and the Community Chest.

Centering on the theme "One Global Community. Shaping the Future," the GSG event featured a student-led experiential exhibition and the official launch of a commemorative publication, unveiled by Minister Tong to mark the network's quarter-century journey from a single local campus to a global system of 64 campuses across 11 countries.

Reflecting on the milestone, Atul Temurnikar, Chairman and Co-Founder of Global Schools Group, said: "Twenty-five years ago, we began our journey with just forty-eight students, driven by a commitment to establish an institution anchored in Singapore's core principles of academic rigour, meritocracy, and continuous learning. Translating this home-grown educational model across sixty-four global campuses in eleven nations demonstrates the universal appeal of these foundational values. As we embark on introducing our next twenty international locations, our steadfast mission is to empower young leaders for future industries while instilling a profound sense of civic duty and social responsibility."

Driving Academic Excellence and Real-World Innovation

GSG's 25-year trajectory is backed by industry-leading academic achievements and global quality recognition. The network recently became the first education group globally to receive Japan's prestigious Deming Prize for Total Quality Management, bringing its total to more than 650 international awards.

Recent academic and industry milestones across the network include:

• Top Academic Outcomes: In recent International Baccalaureate (IB) examinations, over 150 GSG students achieved top scores of 44 and 45 points, earning the "IB World Topper" designation and securing placements at institutions such as Oxford, Cambridge, Harvard, MIT, NUS, and NTU.
• Industry Impact: GSG alumni are actively leading advancements in critical sectors, including Kanika Gakhar, Launch Engineer for the SpaceX/NASA Falcon 9 rocket, and Samanyu Okade, Satellite Design Engineer.
• Student-Led Innovation: Current 15-year-old GSG students recently developed LumaBand, an AI-powered wearable device designed to detect and mitigate fall risks among elderly citizens.
• Next-Generation Curricula: To prepare its 45,000+ students for emerging technological shifts, GSG is establishing specialised research hubs, including the Centre for AI and Quantum Education, alongside a Silicon Valley Innovation Immersion programme for high-performing students.

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

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

Green SM hands over the first Limo Green vehicles to driver partners in Jakarta.

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

Fourth Forum on China-ASEAN Artificial Intelligence Cooperation Successfully Held in Nanning, Drawing Over 700 Delegates

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This year marks the 5th anniversary of the establishment of the China-ASEAN comprehensive strategic partnership, the inaugural year of the "Plan of Action to Implement the ASEAN-China Comprehensive Strategic Partnership (2026-2030)", and a critical year for accelerating the implementation of the China-ASEAN Free Trade Area (CAFTA) 3.0 Upgrade Protocol following its signing.

The 23rd CAEXPO has a total exhibition area of approximately 170,000 square meters, showcasing the latest achievements of cooperation between China and ASEAN countries, as well as new business opportunities under the Version 3.0 China-ASEAN Free Trade Area (CAFTA). More than 3,400 enterprises from over 70 countries and regions are participating, with the total number of exhibitors increasing by 5.3% compared to the previous session. Timor-Leste made its debut as a formal ASEAN member state and co-organizer of the CAEXPO. This marks the first time that all 11 ASEAN countries have gathered in Nanning, Guangxi, since ASEAN's expansion, representing a historic moment for the CAEXPO's circle of friends. In addition to the main exhibition area at the Nanning International Convention and Exhibition Center, two other exhibition areas are set up at CAAIC Community and the Guilin International Conference & Exhibition Center.

For the first time, an ASEAN country demand exhibition is set up during the event, and an ASEAN demand list is released for the first time, focusing on showcasing projects and application needs of ASEAN countries in areas such as transportation, smart logistics, artificial intelligence applications, urban management, and park construction, creating a new one-stop precise matchmaking platform for China and ASEAN.

In addition, more than 50 economic and trade promotion activities will be held during the event, focusing on trade and investment facilitation and regional economic integration, cross-border industrial and supply chain cooperation, "Shop in China", "Export to China", "Invest in China", and other topics.

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

Dr. Peter Zhou, Director of the Board at Huawei and CEO of Huawei Cloud, delivering the keynote

• The latest AICS is built on a five-level fast recovery mechanism with full-chain observability. It supports over 40 days of stable training on cloud and is capable of fault recovery within 10 minutes. Furthermore, supported by coordinated optimization across scheduling, cache, and algorithms, it delivers 20% higher token throughput than the previous generation of compute service. The latest AICS will be commercially available in China on September 30 and in markets outside China on November 30.
• The Context Memory Storage (CMS) solution addresses the needs of long-horizon agent tasks for memory capacity and access efficiency. It provides a petabyte-scale memory space, twice the storage capacity of comparable industry products, and supports high-speed terabyte-scale memory reads with 50% higher performance than industry peers.
• Agentic MaaS brings together diverse models, enabling developers to invoke state-of-the-art (SOTA) models from leading providers with just one click and no deployment required. At the event, MiniMax demonstrated its advanced multimodal model, which, combined with Huawei Cloud, delivers open, cutting-edge multimodal capabilities.

Building an enterprise-grade agent platform to help enterprises develop and use agents effectively

Huawei Cloud is advancing its enterprise-grade agent platform through a dual approach: commercial and open source. Built on AgentArts and its open-source edition openJiuwen, the platform opens up more than 5,000 general Model Context Protocol (MCP) assets and over 1,000 industry-specific MCP assets, making it easier for enterprises to develop, use, and manage agents. To date, the platform has served more than 100 customers, including the Shenzhen Longgang District Government, China Southern Power Grid, Guangzhou Laboratory, the University of Science and Technology of China, Kingsoft Office, Sichuan Yingu Carbon Sink Renewable Resources Co., Ltd., Changsha Thunder Cloud Network Technology Co., Ltd., and KingMed Diagnostics. At the event, Kingsoft Office shared its implementation practices based on Huawei Cloud's agent platform. By deeply integrating the agent platform with the WPS 365 Document Center and WPS Comate, Kingsoft Office has built vertical office agents that are now deployed across multiple industries, including finance and government.

Huawei Cloud has announced that AgentArts will be commercially available in markets outside China on December 30. To date, the openJiuwen open-source community has surpassed 50,000 stars and 3.29 million downloads. Together with Chinasoft International, iSoftStone Group, and Beiming Software, Huawei Cloud has launched partner commercial editions and shared a broad market space, helping partners thrive on Huawei Cloud's silicon bedrock.

Advancing the Industry AI Foundry to accelerate AI adoption at scale across industries

Through the Industry AI Foundry, Huawei Cloud brings together assets such as industry scenarios, models, data, knowledge, and agents, turning industry know-how from isolated project experience into reusable industry capabilities. It has built five industry-specific zones — Smart Healthcare Zone, Embodied AI Zone, AI for Science (AI4S) Zone, Smart Manufacturing Zone, and Smart Finance Zone — with over 1,000 industry-specific assets and more than 1,000 deployed projects.

Two new zones have been launched within the Industry AI Foundry: Smart Government Zone and AI Hardware Zone. The Smart Government Zone has already brought together 24 founding partners, covering a range of scenarios such as government office operations, public services, urban governance, and industry development. The AI Hardware Zone has onboarded 15 core partners, covering more than 20 device types, including AI glasses, AI toys, and AI recording cards, along with over 10 scenario templates and more than 110 scenario skills.

From infrastructure and enterprise-grade agent platforms to industry ecosystems, Huawei Cloud is committed to building an open agentic cloud, with open infrastructure to power AI, an open platform to support enterprises in effectively developing and using agents, and an open industry ecosystem to accelerate AI adoption at scale. Ultimately, Huawei Cloud looks to move forward with customers and partners to build and grow together in the agentic era.

Themed Advancing the Agentic World, HUAWEI CONNECT 2026 will delve into AI across three dimensions: strategy, technology, and ecosystems. You can expect an in-depth look at our latest strategic initiatives, and we'll also be unveiling our all-new digital and intelligent infrastructure products, scenario-specific solutions for industries, and development tools. The event will run from September 17 to 19 at the Shanghai World Expo Exhibition & Convention Center and Shanghai Expo Center. For more information, please visit HUAWEI CONNECT 2026 online at

https://www.huawei.com/en/events/huaweiconnect

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Asia's Aerospace Growth Accelerates, Singapore Plays Central Role

Asia's aerospace sector is expanding at a pace unmatched by any other region, according to the Singapore Economic Development Board (EDB). Singapore's aerospace output exceeded S$18 billion in 2024, up 19% year on year, EDB figures show.

Singapore accounts for about 10% of global MRO output and close to 20% of global engine MRO output, the equivalent of one in 10 aircraft and one in five engines worldwide serviced in the country, according to EDB. It is against this backdrop that Allinton is expanding its presence in the aviation MRO sector.

Allinton's New Capabilities Span the Aerospace Value Chain

MRO Asia-Pacific 2026 brings together airlines, MRO providers, original equipment manufacturers (OEMs), lessors and suppliers across the aviation aftermarket ecosystem. Allinton Group's participation marks its entry into the aviation aftermarket ecosystem, where it will present its new aviation engineering capabilities, developed through a structure that spans three business functions addressing this range of needs: Allinton Engineering & Trading, which provides industrial supply and engineering solutions; Allinton Ventures, which handles business development and strategic partnerships; and Aik Lee, which focuses on automation, digitalisation and artificial intelligence (AI) applications.

Within this structure, Aik Lee's work in AI and digital automation forms one part of Allinton's broader offering and remains at an exploratory stage, the company said.

Together, Allinton's three functions cover sourcing and supply, engineering execution, and long-term growth and expansion to support a range of aviation MRO needs. These capabilities aim to address both internal operational needs, such as workflow and process efficiency, and external aerospace applications.

"The MRO sector is under growing pressure to improve turnaround times, manage supply challenges and work more efficiently," said Chin Chit Loong, Chief Executive Officer of Allinton. "By combining our sourcing and industrial supply experience with engineering, automation and digital capabilities, Allinton can help address these operational gaps with practical solutions built around how our customers actually work." This approach reflects the broader growth trajectory of Asia's aerospace sector, particularly in Singapore.

https://allinton.com.sg/

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Factsheets: Hong Kong's New Chapter / The Story Begins

Hong Kong's status as world-renowned international financial, maritime and trade centres as well as an international aviation hub underpin the city's high-quality development and provide a firm foundation for the city's long-term stability and prosperity.

"We will consolidate and enhance Hong Kong's status as an international financial centre, and stay committed to our global positioning," Mr Lee said. "Hong Kong will deepen the development of its global offshore Renminbi business and capital market, develop an international asset and wealth management centre and international risk management centre, enhance the securities market and expand fixed income and commodity trading."

Hong Kong has become the world's largest cross‑boundary wealth management centre this year, and the HKSAR Government will continue to develop a more attractive asset and wealth management ecosystem, Mr Lee said.

Hong Kong will develop a commodity trading ecosystem with gold as an entry point by driving the development of the clearing system, storage, supply, and infrastructure related to gold trading. The city's central clearing and settlement system for gold will be officially launched in the first quarter of 2027.

"The significance of the First Five-Year Plan for Hong Kong lies in a mindset shift; we must plan Hong Kong's financial development with a longer-term vision and broader perspective to adapt with flexibility and diversity," said Christopher Hui, Hong Kong's Secretary for Financial Services and the Treasury. "Each of our initiatives centres around one objective, which is to elevate Hong Kong from a 'corridor of capital' to a 'destination of choice'."

Hong Kong was ranked the world's fifth‑largest entity in merchandise trade in 2025. The HKSAR Government announced plans to consolidate and enhance Hong Kong's status as an international trade centre, playing a greater role in the high‑level opening up of the Chinese Mainland.

Since the Task Force on Supporting Mainland Enterprises in Going Global was established last October, it has provided assistance, including listing and raising capital in Hong Kong, aligning with overseas standards, acquiring industry certifications and fulfilling compliance requirements for more than 340 Mainland enterprises.

The Task Force will strengthen collaboration with professional organisations to train talent for the GoGlobal initiative and enhance professional services, among other areas.

"In alignment with the National 15th Five-Year Plan's call to advocate and practise true multilateralism, the First Five-Year Plan proposes to continue expanding international economic and trade network," said Algernon Yau, Hong Kong's Secretary for Commerce and Economic Development.

"We will actively forge free trade agreements and investment agreements with economies that are of development potential or strategic locations. Meanwhile, we will expand our network of overseas offices, and leverage the combined networks of our overseas Economic and Trade Offices, InvestHK, and the Hong Kong Trade Development Council offices globally to deepen overseas ties and step up trade and investment promotion."

As an international maritime centre, Hong Kong has ranked fourth globally in maritime comprehensive strength for seven consecutive years. The Five-Year Plan will drive a "volume to value" transformation of the Hong Kong Port, capitalising on its strengths in high value‑added maritime services, to develop Hong Kong into a "Global Maritime Capital".

To promote high value-added services, the industry will develop "Finance + Shipping".

Taking advantage of the city's well‑established maritime finance, insurance and maritime arbitration under common law, Hong Kong will build an integrated ecosystem under which Hong Kong‑invested enterprises adopt Hong Kong law, take out Hong Kong insurance and choose for arbitration to be seated in Hong Kong.

Regarding aviation, Hong Kong's passenger throughput recorded a year‑on‑year increase of 15% last year, to 61 million, with flights to over 220 destinations. The city's air cargo throughput reached 5.07 million tonnes, making its airport the world's busiest cargo airport for the 15th year since 2010.

To strengthen development as international aviation hub, Hong Kong will expand its aviation network, and diversify business opportunities.

The HKSAR Government will continue to take the initiative to visit South America, Africa, Central Asia, the Middle East and the Caucasus to expedite the conclusion of new air services agreements and the expansion of traffic rights, thereby assisting the industry in exploring new passenger and cargo sources.

As for building Hong Kong as an international innovation and technology centre, the HKSAR Government will step up its efforts to promote artificial intelligence (AI) applications across various trades, and continue to strike a balance between encouraging innovation and protecting security, thereby enhancing Hong Kong's international competitiveness in AI development.

In alignment with the national strategic technology areas, Hong Kong will focus on core technologies such as life and health, AI and robotics, microelectronics, new energy, advanced manufacturing and new materials. It will also continue to raise the ratio of Total Domestic Expenditure on Innovation Activities to Gross Domestic Product, striving to reach 3% after 2030.

https://www.brandhk.gov.hk/

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

“We see that enterprises are spending 10 to 12 per cent of their AI budgets on security, and this is expected to rise as more AI moves into production. We see that AI agents can execute transactions, they can interact with customers, and they can access customer data, sensitive information, all autonomously. And this makes any vulnerability in an AI system a direct business risk,” he said.

Bryce Boland, head of Security Solutions Architecture, APJC, at AWS. Photo: AWS

“The AI regulatory scrutiny is intensifying across the region. We see many governments imposing new obligations on AI-powered systems. AI security isn't just an IT problem because when an agent can move money or access customer data, securing it becomes a board level business priority,” he added.

Reshaping AI-driven cybersecurity

In this digital age, according to AWS, modern AI brings some impressive capabilities to both defence and attack. The same capability that helps a security team find a vulnerability faster can also help an attacker to find it faster.

“We saw that it took around 2.3 years back in 2018 (to find a vulnerability), and it is now down to maybe 10 hours today. Last year, the number of common vulnerabilities and exposures (CVEs) reported went up significantly. It was 48,000 CVEs published, up 20 per cent year over year,” Bryce Boland said.

This year the numbers have doubled from about 5,000 CVEs a month in Q1 to about 10,000 per month in Q3.

Boland shared that most organisations are still struggling with patching speed. Previously, finding vulnerabilities was quite hard, but AI models are making that a lot easier.

“The timelines for vulnerabilities are collapsing. But this risk is a bit different to what security teams are used to because there are three key differences: scale, speed, and accessibility,” he added.

Given the current threat landscape, three things are impacting enterprise customers. The first is vulnerability overload. When a vulnerability is announced, it has to be patched, but if patching isn't automated, then organisations face a scaling problem, and potentially the number of patches that organisations have to deal with is an order of magnitude greater than what they've been dealing with previously.

Then there's regulatory compliance. “We see frameworks are being updated actively right now. The CSA, NIST, and OWASP are all revising guidance, so a compliance posture that worked a year ago might not reflect the actual risk today. Compliance is essential, and we think that compliance has to be continuous rather than an annual process,” he shared.

The third item is risk management. Most protocols were built for vulnerabilities and exploits and patching at human speed, but when the speed and scale are fundamentally different, the risk management processes based on historical approaches might no longer hold.

Scaling AI security with AWS

To support customers, AWS has been proactively building defences before those threats emerge by combining security and observability to give its customers complete visibility across their workloads.

Photo: National Cybersecurity Association

“AWS provides the most comprehensive set of tools for customers to build their own workloads and to keep them secure. And we unify security across all environments through a single integrated platform,” Boland said.

At present, AWS boasts the full picture of AWS AI from the silicon all the way to agentic solutions. At the bottom, there are data centres optimised for AI across 39 regions. Next, Tranium, Graviton, and the world's largest fleet of Nvidia GPUs, with the data foundation, ready for AI. For companies that want to build their own, there is Sage Maker for training, Bedrock for inference, and AgentCore to help deploy production-ready agents.

AWS has been strengthening its cybersecurity capabilities through large-scale threat intelligence and automated defence systems designed to protect its infrastructure and customers. The company’s security team analyses more than 400 trillion network flows per day, while AWS GuardDuty monitors over eight trillion events per hour. Three key solutions underpin AWS’s threat intelligence framework: Mithra, which evaluates the trustworthiness of internet domains; MadPot, which detects and responds to malicious activities; and Sonaris, which analyses network traffic and blocks attempts to discover vulnerable services and customer data.

Their findings are then integrated into AWS security services, including GuardDuty, Shield, Web Application Firewall, and Inspector.

As AI-powered attacks become faster and more complex, AWS is also focusing on securing agentic AI systems. The company emphasises that traditional security practices, such as secure software development, least-privilege access, and protection against injection and privilege escalation, remain essential.

However, AI systems also require continuous behavioural testing and monitoring. AWS recommends using deterministic security controls that sit outside the AI agent to govern access to tools and data, while increasing an agent’s autonomy gradually based on ongoing evaluation and performance. Human oversight remains important for high-stakes decisions.

To help customers respond to security threats at machine speed, AWS has introduced AWS Continuum, an AI-powered security agent that supports the software security lifecycle. The platform offers threat modelling, design review, code review, and autonomous penetration testing to help identify, validate, prioritise, and remediate vulnerabilities.

Customers including HENNGE and LG CNS have used Continuum to reduce the time and cost of penetration testing, with LG CNS reporting faster assessments and improved reliability when additional contextual information was provided. AWS positions Continuum as a combination of autonomous security capabilities and human oversight, operating within customer-defined security controls and guardrails.

According to Boland, “Every organisation right now is pushing to modernise and automate their patching, but what we would suggest is that simply buying a tool is probably not the right strategy. You need to also think about architecture and process”

Automated reasoning is something that makes AWS fundamentally different. For the last decade, AWS has invested in automated reasoning research. and embedding it into tools available for its customers. This takes frontier research on formal methods and symbolic reasoning to mathematically prove a result, such as AI outputs, and turning it into scalable production solutions.

Boland cited an example of how automated reasoning capabilities are embedded into Amazon Bedrock Guardrails, allowing it to mathematically verify that AI outputs are factually grounded in the customer's rules. This makes it provable security, not probabilistic security, he added.

"At AWS, we don't treat security as a feature. It's a core requirement that drives our engineering decisions from before the first line of code to well after post-launch and maintenance," he said. "The tools raise the security floor, but the ceiling depends on the people and their culture around security. Responsibility doesn't disappear just because a decision was automated."

In a message released on September 19, the Japan International Cooperation Agency (JICA) said the milestone, effective September 21, reflects years of market reforms undertaken by the Vietnamese government, the Ministry of Finance, and the State Securities Commission (SSC) to enhance transparency and market accessibility.

Since the resumption of Japanese official development assistance in 1992, JICA has supported Vietnam’s capital market through policy dialogue, technical cooperation, research, and long-term training. Over nearly 25 years, JICA-supported training programmes have helped strengthen the capacity of Vietnamese regulators and market practitioners, many of whom now hold key positions at the SSC and stock exchanges.

A major milestone in this partnership was the Technical Cooperation Project for Capacity Building on Improving Fairness and Transparency of the Vietnamese Equity Market (2019-2023). The project strengthened market surveillance, disclosure standards, market transparency and investor protection, while also supporting the implementation of the 2019 Securities Law, all of which are important foundations for international investor confidence and market accessibility.

At the project closing seminar in 2023, JICA reaffirmed to keep supporting SSC, stock exchanges and relevant stakeholders through technical cooperation for further promotion of fairness, transparency and efficiency of Vietnam’s securities market in the new development cooperation era. Building on these achievements, JICA and SSC are implementing a follow-on project (2024-2027) focused on promoting market efficiency, risk-based supervision and stronger enforcement.

Kobayashi Yosuke, chief representative of JICA Vietnam, said, “Vietnam’s FTSE upgrade is the result of sustained reform efforts and strong cooperation among many stakeholders. JICA is honoured to have worked alongside Vietnam in strengthening regulatory capacity, investor protection and market transparency.”

Kojima Kazunobu, JICA project chief expert from Daiwa Research Institute, said, “Vietnam’s securities market has made remarkable progress over the years. Looking ahead, continued reforms under the government’s strong leadership are expected to help drive sustainable market growth and closer alignment with international standards.”

The FTSE upgrade is expected to improve market visibility, attract international investment and create new opportunities for Vietnamese enterprises. JICA remains committed to supporting Vietnam’s financial sector development and deeper integration into regional and global markets.

FTSE Russell is a global index provider owned by the London Stock Exchange Group, known for benchmarks such as the FTSE 100 and global equity indices. It classifies stock markets based on market quality, accessibility, liquidity, and regulatory standards.

FTSE Russell's market ranking system has four main levels: Developed, Advanced Emerging, Secondary Emerging, and Frontier. A higher classification generally indicates a more mature, accessible, and investable market for international investors. Countries often seek upgrades in FTSE Russell rankings because they can entice more foreign investment and increase market visibility.

Vietnam and JICA discuss new direction for Japanese ODA cooperation Deputy Minister of Finance Tran Quoc Phuong has met with a senior Japanese official to discuss future directions for Japan's official development assistance to Vietnam.

JICA pledges continued support for Vietnam's sustainable economic growth The Japan International Cooperation Agency will continue to support Vietnam's sustainable economic growth and help deepen bilateral ties, its president said during a visit to Hanoi and Ho Chi Minh City.

Japan funds climate projects in eight northern provinces The Ministry of Finance has signed 11 on-lending agreements worth $240 million funded by Japanese official development assistance loans for two major development projects in eight northern mountainous provinces.

Vietnam's elevation is about more than the prospect of additional capital flows. It opens the door to greater international visibility, deeper engagement with global investors, and higher expectations for corporate governance and transparency.

For Thuy Vu Dropsey, chief of Corporate Development & Strategic Finance at Vingroup, the milestone carries a significance that goes beyond market classifications or index-related flows.

“September 18 is a moment of pride for Vietnam. It has been many years in the making, and it reflects the progress that the country and our capital markets have made,” she said, going on to explain the development presented two important opportunities for Vietnamese companies.

The first is access to a larger, more sophisticated and deeper pool of capital to support growth. The second is the opportunity to strengthen engagement with investors while raising standards of governance and transparency and improving the way companies communicate their growth stories.

“Both of these are areas that Vingroup has been focusing on all along. We have focused on communicating our financial results while also explaining what we are building, how we allocate capital and how we create value,” stated Dropsey.

“The question now is how we unlock all these capabilities. At Vingroup, we see three directions – going deeper at home, building what Vietnam needs next, and taking Vietnamese capabilities abroad,” she added.

The NYSE congratulates Vietnam on its inclusion in the FTSE Russell Global Equity Index Series. Photo: State Securities Commission

For banks, the implications extend beyond their own access to international capital.

Luu Thi Thao, standing deputy CEO cum senior executive managing director of VPBank, said the upgrade could bring a dual benefit for financial institutions, combining greater recognition for individual businesses with a broader opportunity to act as a bridge between international capital and the Vietnamese economy.

“For us, there are dual benefits. First, like any national company or business, greater recognition is a direct benefit to us. But as a bank, we also have another role because we are a capital connector for enterprises,” said Thao.

“The greater recognition and confidence associated with Vietnam’s new market status could help banks deepen their access to international investor and funding communities, allowing them to channel more capital into the domestic market at a time when financing needs are expected to rise alongside Vietnam’s next stage of development,” she added.

Thao said VPBank had already built a significant track record in accessing international funding. The bank currently raises around $2 billion to $3 billion annually from international commercial banks and financial institutions such as the International Finance Corporation and the Asian Development Bank.

“This has been a long journey. We have consistently worked on a philosophy of going beyond regulatory requirements, strengthening corporate governance and building confidence within the international community,” she added.

“For VPBank, therefore, the market upgrade represents both an opportunity and a responsibility. Currently, we see the development as very positive. At the same time, it also creates a responsibility for us to live up to the expectations,” Thao said.

That combination of opportunity and responsibility is also increasingly relevant for large Vietnamese corporates as international investors gain greater access to the market.

For Masan Group, the upgrade comes at a time when the company sees Vietnam’s growth story extending well beyond foreign direct investment (FDI) and infrastructure.

"This is a very exciting moment for the country. Masan is a listed company, so we clearly care about this development," said Michael Hung Nguyen, deputy CEO of Masan Group. "But the opportunity should also be viewed through the lens of Vietnam's rapidly evolving consumer economy. Vietnam is not just about FDI and infrastructure – it is also about consumers."

Nguyen noted that as incomes rise, Vietnamese consumers are increasingly seeking better products, services, and experiences, creating opportunities across housing, financial services, retail, and consumer brands.

“We are a consumer and retail organisation, and we believe that as people earn more, they want to live better lives,” he explained. “Whether that means a better home, financial services that reflect their growing wealth, or the brands they hope to buy and how they wish to shop, these trends are all part of Vietnam’s development.”

For Masan, the upgrade matters both for the investment flows it could bring to listed companies and for the visibility it gives to the broader growth story of Vietnam's private sector and consumer economy.

“As a result, being part of the index and the broader market, and seeing this upgrade take place, makes us very excited about the opportunities ahead,” said Nguyen.

Stock market urged to take bigger role in financing next growth phase With investment demand expected to far exceed the capacity of the state budget and bank lending, restructuring capital channels and strengthening the stock market's financing role have become essential to sustaining Vietnam's next phase of economic growth.

FTSE Russell names 27 Vietnamese stocks in review FTSE Russell has added 27 Vietnamese stocks to its global equity indices, marking a major milestone as Vietnam prepares to transition to emerging market status in September.

Vietnam FTSE upgrade raises bar for capital market Vietnam became a meeting point for the world’s leading financial institutions and investment organisations on September 18, as the country moved closer to FTSE Russell’s landmark market-upgrade milestone.

Unveiled on September 18, the new model forms part of Honda Vietnam’s efforts to improve the environmental performance of its internal combustion engine motorcycles, alongside the development of its electric mobility ecosystem.

The company said this approach aligns with Vietnam’s target of achieving net-zero emissions by 2050, with improvements focused on engine technology, performance, and emissions reduction.

Introduced under the theme 'Move Like an Icon', the SH Mode 2027 retains the model’s focus on design, comfort, and everyday practicality, while incorporating upgrades to meet EURO 4 requirements.

"We are committed to continuous innovation to deliver reliable, future-ready mobility while creating the joy and freedom of mobility. As Vietnam’s leading two-wheel mobility enterprise, we believe that a cleaner mobility society can be achieved through both electrification and continuous advancements in ICE technology," said Sayaka Arai , general director of Honda Vietnam

Building on the styling of Honda’s SH scooter range, the SH Mode 2027 retains its signature S-shaped profile, while receiving a redesigned front section. The scooter features LED headlights with jewellery-inspired lighting details, accompanied by a chrome element extending from the headlight cluster towards the body.

Honda Vietnam has also introduced new colour combinations across the range, together with a three-dimensional Sh mode logo embossed on the body. The Sporty version is available in Vanilla White and Pearl Jupiter Grey, while the Special version comes in Pearl Nostalgic Green, complemented by a gold Sh mode logo. The Standard version is offered in Pearl Snowflake White.

Another key addition is a 4.2-inch TFT instrument display. With high-resolution graphics and a colour interface, the new display is designed to improve visibility and provide riders with clearer information during journeys.

Honda Vietnam has refined the fuel-injection system to optimise combustion, while upgrading the exhaust emission control system to improve the treatment of pollutants. According to the company, these changes enable more effective control of carbon monoxide, hydrocarbons, and nitrogen oxides, which contribute to air pollution and the formation of fine particulate matter.

Honda Vietnam said the new SH Mode can reduce emissions by up to 40 per cent compared with the previous version, while maintaining engine performance and fuel efficiency.

The upgrades are part of the company’s efforts to reduce the environmental impact of its internal combustion engine motorcycle portfolio as it develops its electric mobility ecosystem.

The scooter also uses Honda’s eSAF frame, which combines lightweight construction with durability and is designed to provide greater stability during everyday riding. Alongside the design and engine changes, the SH Mode 2027 includes a range of convenience and safety features aimed at everyday urban use. The front-wheel anti-lock braking system helps maintain stability during sudden braking, particularly on wet or slippery roads.

The Smart Key system includes an ignition-on reminder, while the front storage compartment is equipped with an upgraded USB Type-C charging port. The scooter also provides 18.5 litres of under-seat storage for daily belongings.

According to Duong Thuy Dung, executive director of CBRE Vietnam, the real estate market is entering a phase in which growth is no longer driven solely by expectations of short-term price appreciation, but increasingly by factors that create value and support long-term utilisation.

“This shift is driven by increasingly limited land availability in central areas and high development costs, while also reflecting ongoing infrastructure investment and the expansion of the urban area. Ring Road 3, Ring Road 4, the Ben Luc-Long Thanh Expressway and the metro network are gradually improving connectivity between the urban core and surrounding areas,” Dung said.

According to CBRE data, as of July, the former Ho Chi Minh City accounted for around 73 per cent of total housing supply, including apartments and low-rise housing, while the former Binh Duong accounted for 19 per cent, the former Dong Nai 5 per cent, and the former Long An 4 per cent.

“However, newly launched supply shows a clearer trend of expansion beyond the urban core,” Dung said.

For low-rise housing, the former Ho Chi Minh City previously accounted for around 40-70 per cent of new supply, but this share fell to approximately 20-40 per cent from 2024 onwards.

A similar shift has occurred in the apartment segment. Before 2024, the former Ho Chi Minh City accounted for 60-85 per cent of newly launched apartment supply across the region. Since 2024, however, its share has declined to around 20-50 per cent, with new supply increasingly distributed across the former Binh Duong, Dong Nai and Long An.

At the same time, continued increases in house prices in central areas are prompting homebuyers to widen their search.

According to CBRE, between 2021 and 2026, primary apartment prices in Ho Chi Minh City increased by an average of around 14 per cent per year, while secondary-market prices rose by approximately 12 per cent annually.

For the 2026-2028 period, CBRE forecasts annual growth of around 11 per cent for primary prices and 5-6 per cent for secondary prices. This is making housing affordability an increasingly pressing issue, particularly for owner-occupiers.

According to a survey by batdongsan.com.vn released in August, one of the clearest shifts among property buyers is a move away from the belief that they must live in the city centre.

Specifically, 69 per cent of respondents said they would consider suburban areas or emerging locations when searching for property over the next three to five years.

Dong Quang Canh, senior business manager at batdongsan.com.vn, said that suburban areas are not being chosen simply because they are cheaper.

“Buyers are willing to live further from the city centre in exchange for more living space, more affordable prices, and future infrastructure connectivity. Unlike previous cycles, the competitive advantage of suburban areas today lies in the expectation that they still have ‘room for development’ and a sufficiently clear future,” Canh said.

The survey also found that consumers view the next six months as a more suitable period for buying and investing than selling. Their preferences are strongly tilted towards safer products with clear legal status, infrastructure, and established communities.

Notably, 72 per cent of owner-occupier buyers chose areas with new infrastructure and good connectivity.

In Ho Chi Minh City, interest is increasingly concentrated in areas benefiting from metro development, administrative mergers and emerging growth centres. Meanwhile, Hanoi investors are paying greater attention to areas associated with ring roads, inter-regional infrastructure and the expansion of urban areas.

These figures indicate the shift is not taking place solely on the side of developers. Homebuyers are also expanding their search radius to balance four factors: price, living space, connectivity, and quality of life.

As a result, the concept of suburban areas is also evolving. As transport connections improve, being geographically distant from the city centre does not necessarily mean being difficult to access. Conversely, areas with abundant land but inadequate infrastructure, services, and employment opportunities may not yet have the conditions to emerge as new growth poles.

Therefore, the shift in housing supply is not simply about moving further away from the city centre. The key question is where new supply will emerge, and whether it will be supported by infrastructure, employment, services, and genuine housing demand.

For a long time, location has been considered one of the most important factors determining property values. The closer a property is to the city centre, the more highly it tends to be valued. However, as cities expand and inter-regional infrastructure develops, the concept of 'location' is also changing.

According to experts, buyers are now paying greater attention to practical use value and property’s ability to meet their families’ needs over the long term. A home is no longer assessed solely by its distance from the city centre, but also by access to schools, healthcare, retail, parks, workplaces and community spaces.

This is also the basis for integrated and mixed-use urban development models. Under such models, essential needs such as education, healthcare, shopping, work, and leisure can be met within a relatively short travel distance.

Photo: Nam Long Group

Untangling bottlenecks in Vietnam’s property market The panel “Untangling Bottlenecks, Unlocking Resources” at VIR’s real estate seminar discussed some of the market’s most pressing issues, including the mismatch between supply and demand, homebuyer confidence and investor sentiment.

Cash flows shift as property market repositions Vietnam's real estate market is moving beyond a growth phase driven largely by expectations and entering a more sustainable cycle centred on genuine housing demand and long-term asset value.

The event to mark Vietnam's inclusion in the FTSE Russell Global Equity Index Series (GEIS) took place on September 18 ahead of Vietnam's stock market formally transitioning to Secondary Emerging Market status on September 21.

The conference was chaired by Minister of Finance Ngo Van Tuan and attended by British Ambassador Iain Grant Frew, State Securities Commission (SSC) chairwoman Vu Thi Chan Phuong, World Bank country director Mariam J. Sherman, FTSE Russell CEO Fiona Bassett, and representatives from ministries, financial institutions, investment funds, listed companies, global custodians, and domestic and international market participants.

In his opening remarks, Minister Tuan said the conference took place at a particularly important historic milestone for Vietnam's financial market.

"The presence of investment institutions, brokerage firms, and global custodians reflects growing interest in Vietnam's stock market," Tuan said. "Vietnam is positioning itself as a dynamic and promising investment destination for investors regionally and globally."

He added that Vietnam's capital market has remained a bright spot in recent years, supported by institutional reforms, improved market operations, and more open dialogue with the international investment community. These developments have contributed to the stability of the national financial system and become a driver of economic growth.

The legal and policy framework for the capital market has undergone significant improvements, focusing on three major pillars: improving governance quality and market discipline, while strengthening enforcement against violations; facilitating access for investors, particularly foreign investors, in line with international standards; and establishing a legal foundation for new market models and products in line with modern capital market trends.

"These are important steps towards upgrading Vietnam's stock market and developing it in a modern, efficient, and transparent direction, in line with international standards," said Tuan.

Photo: Manh Tuan

With strong commitment from the government, the Ministry of Finance (MoF), and the SSC, FTSE Russell announced in its September 2025 review that Vietnam's stock market would be upgraded from Frontier to Secondary Emerging Market status. The result was reaffirmed in the March review earlier this year.

Highlighting the significance of the achievement, Minister Tuan said, "Market upgrading is not the final destination, but a new step forward, creating higher requirements for both the market and regulators."

As financial markets in Vietnam, the region, and globally continue to evolve, Vietnam needs to remain proactive and flexible, while continuing to improve its mechanisms, policies, and market management and supervision institutions.

The government and the MoF have issued and implemented comprehensive orientations and development strategies for the capital market and stock market through 2030, with a vision to 2045. Priorities include further improving market liquidity and quality, modernising infrastructure, strengthening risk management tools, diversifying products, attracting sustainable capital flows, and enhancing market management, supervision, and openness.

These foundations are important for Vietnam to deepen its integration into international financial markets and make more effective use of international capital for investment and economic development.

The minister stated that Vietnam was ready to listen, adopt international best practices, and pursue further reforms to build a transparent, safe, efficient, and sustainably attractive capital market.

Minister Tuan performing the gong-striking ceremony to mark Vietnam's official inclusion in the FTSE GEIS emerging market index. Photo: Manh Tuan

At the conference, representatives from the MoF, the SSC, FTSE Russell, the World Bank, and international financial institutions discussed Vietnam's reform process, improvements to the legal framework, upgrades to market infrastructure, and measures to improve investor access. They also shared views on the significance of the market upgrade, as well as opportunities, challenges, and solutions for the market's development in the next phase.

A key activity at the conference was a ceremonial gong-striking event marking Vietnam's official inclusion in the emerging market segment of FTSE Russell GEIS.

The event also highlighted the 30-year development journey of Vietnam's stock market, from the gradual completion of market components, the legal framework, and technological infrastructure to continuous improvements in market access for both domestic and international investors.

The market upgrade is expected to create opportunities to attract greater international investment flows, particularly from active and passive funds that track emerging market indices. At the same time, it is expected to provide further momentum for Vietnam's stock market to improve its transparency, efficiency, and competitiveness, contributing to the development of a safe, sound, and sustainable capital market.

Minister Tuan expressed his hope that the conference would provide an open and substantive platform for dialogue, allowing regulators, international organisations, and the investment community to share perspectives, strengthen connections, and explore new opportunities for cooperation.

With the reform foundations already established and the market's latest progress, cooperation with the international financial community is expected to be further strengthened and expanded, contributing positively to the development of Vietnam's capital market.

Vietnam’s challenge to turn market reform into long-term capital According to Mickey Maini, founder of Solstice Laboratory, an independent research centre focused on markets, geopolitics and finance, following Vietnam’s market upgrade, the next challenge is to turn this upgrade into sustained capital inflows and deeper economic development.

SSC pushes for greater FIE participation in Vietnam's stock market Vietnam's capital market is entering a new phase of development as demand for medium- and long-term capital grows, with internationally backed companies seen as key to adding quality listings and increasing market size.

SSI pushes for FIE listings to bridge market gap Internationally funded companies account for more than three-quarters of Vietnam's export turnover but represent only around 0.15 per cent of the stock market's value, a gap that could be narrowed by encouraging more listings.

The company exchanged 16 MoUs with prospective investors at the two ceremonies – seven for Nghia Hung and nine for Thuan Thanh III – Subzone C. Gilimex said the non-binding agreements would allow the parties to assess land requirements, technical specifications, implementation schedules, and potential terms of cooperation. They do not constitute land sublease agreements or confirmed occupancy.

Photo: Gilimex

The ceremonies were among eight project launches held to mark Bac Ninh’s establishment as a centrally governed municipality. The province was enlarged following the merger of the former Bac Ninh and Bac Giang provinces in June 2025, giving it a broader industrial base and development corridor stretching across northern Vietnam.

Nghia Hung IP in Tien Luc commune covers 148.68ha and represents investment of VND2.2 trillion ($84.5 million). Located at the province’s northern gateway, it is positioned to serve manufacturers linked to the Hanoi region, northern industrial centres and the Vietnam–China trade corridor.

The site is about 60km from Noi Bai International Airport, 105km from Haiphong port, and 105km from the Huu Nghi border gate. Its planned infrastructure includes 81MVA of power capacity, water supply of about 8,200 cubic metres a day, internal roads between 19.5m and 48m wide, and a centralised wastewater treatment plant with a daily capacity of 4,900 cubic metres.

About 63ha has been allocated in the initial phase, with land levelling, road construction and wastewater-treatment works under way. Gilimex is targeting industries including electronics, semiconductors, computers, and optical products, precision engineering, electrical equipment, automotive and aviation components, logistics, and research and development.

Thuan Thanh III IP – Subzone C is a 196ha development spanning Thuan Thanh and Tri Qua wards, with an investment of VND1.99 trillion ($76.5 million). Its southern location links it to National Highways 17 and 18, Hanoi’s Ring Road 4 and transport routes serving Hanoi, Hung Yen, Thai Nguyen, and Phu Tho, as well as the ports of Haiphong and Quang Ninh. It is about 11km from the planned Gia Binh International Airport.

Construction at Thuan Thanh III Industrial Park – Subzone C. Photo courtesy of Gilimex

Compensation and site clearance have been completed for about 83ha, while land levelling, internal roads, and other infrastructure packages are being developed. The project’s centralised wastewater treatment plant is designed to handle 4,400 cubic metres a day using physical, chemical, and biological processes. About 50ha is expected to be available for handover to tenant investors in the fourth quarter of 2026.

The park will prioritise electronics, high technology, machinery, precision engineering, aviation components, and supporting industries. Its location within Bac Ninh’s established manufacturing cluster is expected to give incoming companies access to existing suppliers and a workforce experienced in large-scale factory operations.

Bac Ninh has long been a centre for electronics manufacturing and exports. Provincial data showed that its gross regional domestic product grew 10.27 per cent in 2025, the fifth-highest rate among Vietnam’s provinces and municipalities, while foreign direct investment reached about $5.73 billion. In the first seven months of 2026, the province recorded trade of about $128.2 billion and attracted more than $2.73 billion in foreign investment.

For industrial tenants, however, access to land is only part of the calculation. Reliable electricity and water, suitable ground conditions, drainage and wastewater treatment, links to suppliers and logistics networks, labour availability, and responsive on-site services all influence whether a factory can operate consistently and expand over time.

Hoang Tien Dat, general director of Gilimex Industrial Park JSC, said, "The group’s more than 40 years of manufacturing experience had shown that factories depend on reliable supporting infrastructure. He described the 16 MoUs exchanged at the ceremonies as an encouraging sign of investor interest, while adding that they placed greater responsibility on Gilimex to deliver on schedule and maintain service standards over the long term."

Gilimex was established in 1982 and equitised in 2000. The group says its more than four decades of direct manufacturing and participation in international supply chains inform the way it plans and operates industrial parks.

Gilimex Industrial Park JSC was set up in November 2019 to invest in, develop and operate industrial-park infrastructure. It assesses sites by location as well as geology, hydrology, elevation, drainage, power, and water availability, transport links, fire safety, wastewater treatment, and the long-term maintainability of common infrastructure.

The company also provides support for investment and business-registration procedures, construction and environmental approvals, labour-related requirements, and recruitment. On-site services include round-the-clock security, common-area maintenance, waste collection, and fire-prevention and firefighting support.

The two Bac Ninh developments expand a portfolio that includes projects in Hue and Vinh Long. Gilimex’s Hue industrial park covers 460.85ha: infrastructure for the 49.17ha Subzone A has been completed, while investment continues in the 411.68ha Subzone B. The project includes a wastewater-treatment system designed to be expanded to 7,600 cubic metres a day.

Its 400ha Vinh Long project is intended for industries including food and agricultural processing, consumer goods, electronics, pharmaceuticals, warehousing, and other activities with relatively low environmental impact. In July, Gilimex Industrial Park also received an MoU to study the proposed Dien Quynh 1 IP in Nghe An province.

With the groundbreakings completed, attention will turn to whether the two projects meet their fourth-quarter timetable for serviced-land handover. Gilimex said it would coordinate with local authorities and contractors on construction progress, quality, workplace safety, and environmental compliance, while continuing discussions with the 16 prospective investors.

The company added that it would prioritise qualified local hiring, work with partners on workforce training, and maintain dialogue with surrounding communities. Over the longer term, the projects’ impact will depend on the manufacturers they attract, the links they create with domestic suppliers, the quality of jobs generated and their contribution to more resource-efficient industrial growth in Bac Ninh.

Gilimex Industrial Park builds foundation for modern and sustainable industry Gilimex Industrial Park JSC is at the forefront of innovation for the development of modern and sustainable industry in Vietnam.

Seminar held to expand investment between Thua Thien-Hue and Shanghai Gilimex Industrial Park hosted an investment seminar in Shanghai on July 3 to promote Thua Thien-Hue province to potential Chinese investors.

Gilimex given approval for $87.5 million industrial park in Bac Giang Deputy Prime Minister Tran Hong Ha signed Decision No. 201/QD-TTg on January 21, which deals with the investment policy for the development of Nghia Hung Industrial Park in Bac Giang province.

The second Technical Training Conference on International Standards for the Humane Euthanasia of Dogs and Cats took place in Hanoi on September 18.

The conference was held by the Hanoi Sub-Department of Livestock Production, Aquaculture, and Veterinary Services (under the Hanoi Department of Agriculture and Environment), in collaboration with Soi Dog Foundation and SBCC Vietnam. Building on the first conference in May – the first of its kind within Vietnam's public veterinary system – this second edition expanded to 120 participants, including ward People's Committee officials, ward veterinary staff, and representatives of private veterinary clinics across the city's 14 pilot wards.

What set this second conference apart was the bringing together of three groups: ward-level government officials, grassroots veterinary staff, and private veterinary clinics. This approach shifts the focus from building individual skills to establishing an integrated, coordinated procedure – and lays the first foundations of a public-private humane and animal friendly veterinary network in the capital.

"What we are looking forward to most at this conference is private veterinary clinics working alongside public services," said Bui Thi Duyen, director of SBCC Vietnam. "When a veterinarian offers their clinic after hours for sterilisation and care, humane standards become a professional value. SBCC Vietnam will connect these clinics into a public-private veterinary network, laying the groundwork for the project's next steps in 2027."

"With many clinics committed, severe cases requiring euthanasia will decline significantly, supporting the goal of zero human rabies deaths by 2030 and the livelihood transition of households trading dog and cat meat," she added.

The conference forms part of a project approved by the Hanoi People's Committee in July, which aims to pilot rabies prevention and phased-transition away from the dog and cat meat trade in selected wards of the city. It targets zero human rabies deaths by 2030, supports sustainable livelihood transitions for affected households, and progressively raises animal welfare standards in line with international practice.

Building on this foundation, the project is expanding towards long-term animal welfare goals under a One Health approach. It promotes responsible pet ownership, population registration and management, and scales up rabies vaccination and sterilisation to humanely control free-roaming dogs, progressively reducing the need for euthanasia.

The event featured three sessions. In the first, a representative of the Hanoi Sub-Department of Livestock Production, Aquaculture, and Veterinary Services presented updates on the legal framework and animal management in Hanoi. In the second, Winn Ularn Kanyook, senior veterinarian at Soi Dog Foundation, delivered training on animal welfare in population management, covering the Five Freedoms, dog population management procedures, and field protocols. In the third, Dang Huu Anh of the Vietnam National University of Agriculture discussed linking animal welfare standards with biosecurity and infectious disease control in clinics and the community.

Dang Huu Anh, lecturer, Vietnam National University of Agriculture. Photo: Soi Dog Foundation

"Humane euthanasia is never the first solution, nor a population management tool. It is a last resort, and only appropriate within a system that includes vaccination, sterilisation, care, and transparent decision-making," said Kanyook. "This training goes beyond technique to focus on decision-making – assessing the animal's condition, selecting the right drug and dose, confirming death, handling the carcass to standard, and keeping complete records. Soi Dog Foundation is committed to supporting Hanoi through the most important phase – putting this into practice on the ground."

Each session was followed by interactive discussion between the Sub-Department, international experts, the university lecturer, and participants on specific Hanoi issues – including space, staffing, and implementation practices; information-sharing mechanisms for suspected rabies cases among free-roaming dog catching teams, ward veterinary staff, and health centres; and the adequacy of forms recording euthanasia reasons, drug dosages, and methods.

"If the first conference answered how to approach animal welfare in line with international practices and which forces would lead implementation, this time we want to be more specific and practical for local veterinary staff and clinics," said Ngo Dinh Loat, deputy director of the Hanoi Sub-Department of Livestock Production, Aquaculture, and Veterinary Services.

"Inviting ward-level management officials, local veterinary staff, and clinics was aimed at helping them gradually gain access, conduct communications, and implement the practices once conditions are met," he added.

Nguyen Van Hoan, veterinarian and technical lead at VIET PET Veterinary Clinic, said, "I used to think of humane euthanasia as a last resort and a matter for each clinic. Today's training helped me see it as part of an overall animal welfare and rabies control strategy, where vaccination, sterilisation, and proper care play the key role. That is why I have registered my clinic to support the project outside working hours – providing sterilisation for dogs and cats from disadvantaged households, receiving animals for care and treatment, and offering technical support to local veterinary teams."

Following the conference, organisers will help each pilot ward finalise its standard operating procedures and recording forms, establish a network of volunteer veterinary clinics, monitor how the training is applied, and continue researching a legal framework for humane euthanasia in urban veterinary management. The pilot model across Hanoi's 14 wards is expected to serve as a reference for other cities developing animal welfare standards and controlling zoonotic diseases.

Photo: Soi Dog Foundation

Conference highlights animal welfare ambitions stemming from dog and cat meat trade The third training conference on a phased transition from dog and cat meat trading and slaughter to a more civilised livelihood took place in Hanoi on May 19.

Hanoi trains veterinary officers in humane euthanasia standards A first-of-its-kind training conference on international standards for humane euthanasia of cats and dogs has been held within Vietnam's public veterinary system.

Training conference helps workers transition out of dog and cat meat trade A training conference was held in Hanoi on September 16 to facilitate the transition of workers from the trading and slaughter of dogs and cats.

At the meeting on September 18, Minister Tuan, on behalf of the Ministry of Finance (MoF) and the State Securities Commission (SSC), thanked Bassett and her FTSE Russell colleagues for their active support throughout Vietnam's market-upgrade process, particularly during the recent critical stage.

"FTSE Russell's recognition and upgrade of Vietnam's stock market, effective September 21, marks a new milestone in the market's development," Tuan said. He expressed hope that FTSE Russell would continue to support and coordinate with the MoF and relevant agencies, particularly the SSC, to help Vietnam maintain its upgraded status and advance towards a higher classification in the future.

Bassett congratulated Vietnam on its achievements in the country's development, particularly the successful upgrade of its stock market. Affirming FTSE Russell's long-term commitment to Vietnam, she said the organisation would continue to support the country in its development journey and efforts to achieve its economic goals through 2045.

"Vietnam is a very compelling story in Asia," she said. "FTSE Russell hopes to continue contributing to deeper cooperation with Vietnamese regulators and market participants." She expressed her appreciation for the strong and sustained commitment demonstrated by the MoF and the SSC over recent years.

"The market upgrade will improve foreign investors' access to Vietnam's market, enhance transparency, and strengthen investor confidence," Bassett said.

She noted that the achievement reflected substantial efforts and concrete actions by policymakers, regulators, and market participants, adding that FTSE Russell was ready to work with Vietnamese authorities to support the process going forward.

Photo: Manh Tuan

Discussing the foundations for cooperation, Minister Tuan said political, diplomatic, trade, and economic relations between Vietnam and the UK were developing positively. In finance and banking, the UK has a long-established tradition and extensive experience.

Drawing on his experience in the financial sector, the minister said Vietnam had spent many years studying and learning from the UK's experience in developing its financial markets.

Vietnam has set a target for total social investment to reach 40 per cent of GDP in order to achieve its economic development goals, with public investment accounting for 20-22 per cent, while capital mobilised through international capital markets is expected to increase sixfold.

"This is a very ambitious and demanding target. Therefore, the market upgrade plays a crucial role and comes at the right time for Vietnam's development objectives," the minister said.

"Alongside its upgrade to Secondary Emerging Market status, Vietnam is committed to continuing to improve market quality," he explained the need to strengthen governance and market discipline, improve the effectiveness of inspection and supervision, and create the most favourable conditions possible for investors, particularly foreign investors, by improving market access in line with international standards.

Vietnam has also worked closely with a number of international financial organisations, particularly the Organisation for Economic Co-operation and Development, to improve corporate governance, especially among listed companies. Looking ahead, the minister said a key priority would be to continuously improve the legal framework and investment environment.

The Securities Law is currently being amended and supplemented to better reflect market conditions and is expected to be submitted to the National Assembly for approval at its October sitting. The MoF has also instructed the SSC to continue developing the Stock Market Development Strategy for the next 10 years.

Minister Tuan asked FTSE Russell to continue working closely with the SSC and support Vietnam in maintaining and further upgrading its stock market, thereby meeting the country's requirements for attracting investment capital, promoting economic growth, and delivering benefits to investors.

"The principle guiding cooperation between the two sides should be 'win-win', with both parties benefiting," he said.

Bassett fully agreed with this principle and expressed her desire for the two sides to continue developing a long-term strategic partnership aligned with Vietnam's development goals through 2045. "An important element of Vietnam's forward-looking development plan was to combine a clear vision with broad consensus and comprehensive alignment, while actively drawing on international experience," she said.

Bassett also stressed that a deep and efficient capital market would play a key role in mobilising long-term capital for infrastructure, the energy transition, and innovation. As a member of the London Stock Exchange Group, FTSE Russell welcomed the opportunity to support Vietnam in pursuing these strategic priorities through appropriate index solutions, she said.

FTSE Russell names 27 Vietnamese stocks in review FTSE Russell has added 27 Vietnamese stocks to its global equity indices, marking a major milestone as Vietnam prepares to transition to emerging market status in September.

Beyond FTSE: an upcoming capital market opportunity Vietnam’s market reclassification could open the door to a new wave of international capital. Dr. Christian Kamm, president of Kamm Investment Inc., explains how turning this opportunity into sustainable growth will depend on Vietnam’s ability to further modernise market infrastructure, deepen the corporate bond market, and more besides.

Vietnam FTSE upgrade raises bar for capital market Vietnam became a meeting point for the world’s leading financial institutions and investment organisations on September 18, as the country moved closer to FTSE Russell’s landmark market-upgrade milestone.

A specialised agency of the Ministry of Construction is coordinating with localities to finalise draft Resolution No. 38/2026/QH16 dated August 24 of the National Assembly, on the building of the ring road. The draft is expected to be completed in late September and submitted to the competent authority in October.

Once the resolution is passed, the managing agency will work with the Ministry of Finance to allocate investment funds and select a consulting unit to develop the project. The preparation process is expected to take approximately 4–6 months.

If the work is carried out in parallel, the project aims to commence in the third quarter, or even earlier if preparatory conditions are completed ahead of schedule.

For 2026-2030, the central government budget is expected to allocate approximately $2.3 billion to develop around 116 km of the main expressway through Ninh Binh, Hung Yen, Haiphong and Bac Ninh, which is the eastern section.

The government will allocate approximately $2.4 billion from the central government budget during 2026-2030 to invest in this section. The component projects using central government funding allocated during this period are expected to be completed by 2030 and put into operation from 2031.

The eastern section was selected for investment first because it is located in an area with high transportation demand, plays a driving role in economic development, and has the potential to connect with the Cau Gie - Ninh Binh and Hanoi - Bac Giang expressways.

Upon completion, the route is expected to create an additional inter-regional transportation corridor, support traffic diversion from afar, and reduce pressure on traffic routes heading towards the central Hanoi area.

The remaining section will be studied, and appropriate resources will be mobilised for phased implementation. The entire route is targeted for completion before 2035.

The project will require approximately 4,011 hectares of land, including 1,776 ha of rice-growing land. Of this, 1,590 ha is land dedicated to growing two or more rice crops annually. The project will also require approximately 210 ha of forestry land and 2,025 ha of other land.

To maintain the 2027 commencement timeline, land clearance must be prepared in parallel with the investment procedures. According to the plan, approximately 50-70 per cent of the land needs to be cleared by the time of commencement. The remaining clearance is expected to be completed before the second quarter of 2028.

Four mega highway projects to kick off The construction of inter-regional highway projects and Ho Chi Minh City’s Ring Road No.3 will start in mid-June, according to the prime minister's plan.

Key road opens investing avenues The megaproject of Ring Road 3, which started construction this month, can help more clearly shape the face of a multipolar Ho Chi Minh City urban area and create new development impetus for the real estate market.

An Khai Hung launches IKI Village residential project in Ho Chi Minh City An Khai Hung Investment has broken ground on a residential project in Ho Chi Minh City, featuring private green gardens and direct access to Ring Road 3.

Hanoi plans congestion charges within Ring Road 1 from 2028 Hanoi is planning to introduce congestion charges for road vehicles entering the city centre within Ring Road 1 from January 1, 2028, with the scheme set to expand to Ring Road 2 in 2030 and Ring Road 3 in 2032.

National Assembly passes Ring Road 5 project The National Assembly, on August 24, passed a resolution approving the investment policy for the Hanoi Capital Region Ring Road 5 project.

Hanoi to break ground and inaugurate 16 infrastructure projects ahead of National Day Hanoi People’s Committee sets a plan to break ground and inaugurate 16 works and projects, including 11 projects open to traffic and five to start on September 2.

Photo: Hoang Oanh

This year’s festival was part of activities in Vietnam commemorating the 250^th anniversary of American independence. The theme celebrates the rich agricultural heritage of the United States, showcasing produce from its farms, ranches, orchards, and coastal waters, while highlighting the journey of high-quality American products from producers across the country to Vietnamese consumers.

Since its launch in 2022, the Great American BBQ Festival has become an annual culinary event in Hanoi, offering diners an opportunity to experience the quality, versatility, freshness, and flavour of American agricultural products through specially curated dining experiences. This year, Sheraton Hanoi Hotel served as the festival venue.

“Through the Great American BBQ Festival, we are delighted to introduce Vietnamese consumers to the exceptional quality and diversity of US agricultural products while celebrating the strong agricultural partnership between the US and Vietnam,” Mark Petry, USDA Agricultural Minister Counselor said.

Guests enjoyed a special Great American BBQ Dinner at Oven D’or Restaurant, featuring a diverse selection of dishes prepared with more than 20 high-quality US ingredients provided by USDA Cooperators.

The buffet featured American beef, pork, poultry, lobster and squid from the Northeast, Washington apples, blueberries, California cream cheese, Wisconsin cheeses, US potatoes, California walnuts and prunes, soy-based products, and other American ingredients that are increasingly popular among Vietnamese consumers and food-service professionals.

Until October 1, guests can also enjoy an exclusive five-course set menu at Hemispheres Steak & Seafood Grill, one of Hanoi’s acclaimed dining destinations. Recognised as a Michelin Selected restaurant for four consecutive years from 2023 to 2026, Hemispheres has designed a special menu featuring premium US ingredients to celebrate the Great American BBQ Festival 2026.

During the two-week festival, the specially curated five-course menu will be offered in place of the restaurant’s regular Michelin set menu, giving diners a culinary experience highlighting the diversity and quality of American agricultural products.

“As we commemorate the 250^th anniversary of the United States, this festival showcases America’s rich food culture as well as the continued growth of agricultural trade and cooperation between our two countries,” Petry added.

America’s Finest Five-course set menu served at Hemispheres Steak & Seafood Grill. Photo: Sheraton Hanoi Hotel

US-Vietnam agricultural trade continues to grow, reflecting demand for safe, high-quality, and innovative food products. Through partnerships with US agricultural organisations, importers, retailers, hotels, and restaurants, USDA remains committed to expanding market opportunities and increasing awareness of American agricultural products throughout Vietnam.

“This festival presents a wonderful opportunity for our culinary team to showcase the outstanding quality of US ingredients through thoughtfully crafted menus at both Oven D’or and Hemispheres,” Tiffany Hwang, general manager of Sheraton Hanoi Hotel, said.

“We are especially proud that Hemispheres, recognised by the Michelin Guide for four consecutive years, will dedicate its signature dining experience during the festival to a specially curated menu celebrating the diversity and excellence of American agriculture,” she added.

US business delegation heads to Vietnam to foster cooperation

American microbiologist wins Lee Kuan Yew Water Prize

North America offers significant opportunities for Vietnamese products

American Express and ALL Accor expand global partnership

1win Charity assists 35,000 Latin American families across four regional initiatives

Seminar connects Vietnamese, US agricultural businesses

Vietnam boosts US agricultural ties with trade mission

Vietnamese firms sign 20 MoUs worth $3 billion to buy US agri-goods

The event came just days before Vietnam is set to enter its emerging market chapter with its first trading session in the new status on September 21.

The gathering marked not only a celebration of a long-awaited milestone, but also a powerful symbol of Vietnam’s growing place on the global capital markets map, as the country prepares to open a new chapter of deeper integration with international capital.

For Bob McCooey, vice chairman of Nasdaq, Vietnam has already established itself as one of the region’s most active markets by trading volume. He noted that Vietnam had surpassed Singapore and Thailand in trading volumes, while more recent growth had strengthened the market.

“Vietnam was the largest market by volume in ASEAN,” said McCooey. “Yet the competition for capital extends well beyond ASEAN. Korea, Taiwan (China) and Japan are attracting substantial investor attention on the back of semiconductor and artificial intelligence-related demand, creating a highly competitive environment for markets across Asia.”

"Vietnam will therefore need compelling growth stories to sustain investor interest and translate them into greater trading activity, according to Nasdaq’s representatives."

Bob McCooey, vice chairman of Nasdaq (left) and Pankaj Mataney, Asia Head of Platform Sales and Index Strategy at Morgan Stanley (right). Photo: SSI Securities

Peter Stein, CEO of the Asia Securities Industry & Financial Markets Association and Global Financial Markets Association, pointed to the broader competition now taking place across global and regional capital markets.

“Competition for capital is intense. Several markets are attracting significant attention because of their roles in the global AI supply chain, while investors are also looking to diversify their exposure across different markets,” Stein said.

“Vietnam has effectively moved beyond the broader ASEAN group and into this more competitive tier. Although it is not currently benefiting from the broader AI-driven investment story to the same extent as some other markets, it has a strong longer-term growth proposition. That creates a different challenge for Vietnam: converting its improving market fundamentals into an environment where international investors can deploy capital efficiently and at sufficient scale."

Stein said Vietnam already had the necessary market-infrastructure fundamentals and that these were continuing to improve. The priority, he argued, should be to consolidate the progress already made rather than move too quickly to introduce measures that have not been sufficiently considered.

As Vietnam moves into this more competitive tier, the composition and destination of incoming foreign capital will become increasingly important.

Pankaj Mataney, Asia Head of Platform Sales and Index Strategy at Morgan Stanley, expects the FTSE upgrade to broaden the investor base, with index-oriented capital likely to provide an initial impetus.

“Some of the more fundamental, dedicated foreign investors are likely to enter the market,” said Mataney. “The FTSE upgrade will broaden the investor base, with passive investors naturally at the forefront.”

He also expected hedge funds and liquidity providers to become more active as the upgrade takes effect, meaning the impact could extend beyond passive funds tracking the relevant indices.

“Initially, however, flows are likely to be more closely linked to index inclusion. For listed companies, securing inclusion in relevant indices will therefore be important, while foreign ownership limits will also influence their ability to absorb overseas capital,” he said.

He also noted that the initial concentration of capital would likely be determined more by individual companies and their characteristics than by sectors.

“The composition of the investor base could then broaden further as hedge funds and systematic strategies enter the market,” said Mataney. “But index eligibility alone will not determine where capital ultimately goes. Company fundamentals, government policies and broader market conditions as additional factors that will shape investor decisions."

Photo: SSI Securities

Phil Chevalier, co-head of Virtu Execution Services APAC at Virtu Financial, offered a perspective from the market-making and execution side.

The firm subsequently executed its first trade using a global broker model, making the Vietnamese market more accessible to its clients. The necessary infrastructure was established within days, with Virtu initially focusing on the agency institutional side.

“We wanted to be among the first to do so,” Chevalier said. “The firm is now looking at further opportunities, including transaction cost analysis and broader market access. SSI has also played an important role in making the process easier for Virtu.”

Chevalier identified liquidity as the fundamental issue that will determine how far the market can develop.

“Market makers will not establish operations in markets where there is insufficient liquidity. At the same time, liquidity will not develop without market makers and other service providers,” he said. “That creates a circular dynamic: greater liquidity attracts market makers and other participants, while greater participation is itself needed to deepen liquidity.”

The introduction of a CCP, according to Chevalier, could help break that cycle by making different components of the trade lifecycle more efficient and accessible, thereby allowing more market participants to participate.

“For Vietnam, the FTSE upgrade is therefore not simply about attracting a new category of investors. It is about turning greater international recognition into sustained participation, deeper liquidity and a market infrastructure capable of supporting increasingly sophisticated global investors,” said Chevalier. “The next phase of Vietnam’s capital-market development will be shaped not only by how much foreign capital enters, but also by how effectively the market can absorb, trade and retain that capital."

FTSE upgrade puts Vietnam on global investors’ radar, now investability must follow FTSE Russell has added 27 Vietnamese stocks to the FTSE Global All Cap Index as part of its September semi-annual review. In an interview with VIR’s Hazy Tran, Thomas Nguyen, Chief Global Markets Officer at SSI Securities said that FTSE Russell’s inclusion could bring billions in passive inflows, but the bigger opportunity lies in Vietnam’s institutional transformation.

ETF rebalancing set to drive stock flows ahead of FTSE GEIS changes Vietnam’s stock market is bracing for a concentrated wave of ETF trading as foreign funds rebalance portfolios ahead of the FTSE Global Equity Index Series changes taking effect next week.

At the forum, “Global Supply Chain Shifts and Opportunities for Vietnamese Businesses,” held in Hanoi on September 18, Nguyen Anh Duong from the Institute for Policy and Strategy said that Vietnam continued to achieve positive results in attracting FDI, with China gradually emerging as one of the country's leading sources of investment.

In 2025, Singapore ranked first in FDI into Vietnam, with $6.98 billion, followed by China with $5.19 billion and South Korea with $4.2 billion. In the first eight months of 2026, the country's major investment partners continued to include Singapore, South Korea, Hong Kong, Malaysia, China, and Japan.

"These figures reflect Vietnam's attractiveness amid capital flows and supply chain restructuring," Duong said. "However, behind the results in attracting FDI lies the question of how external capital can be connected with domestic production capacity: To what extent can Vietnamese businesses participate, and which stages of the supply chain can they undertake?"

He said FDI, particularly from East Asia and the Pacific, had helped Vietnam boost growth and exports, strengthen economic linkages, and make more effective use of free trade agreements.

The continued presence of major regional economies among Vietnam's leading investment partners also created opportunities for the country to participate more deeply in international production and trade networks.

According to Duong, one of the challenges facing Vietnam is the limited linkage between foreign-invested and domestic companies.

"This linkage gap directly affects the ability of Vietnamese businesses to become suppliers to the FDI sector, raise localisation rates, and participate in higher value-added stages," he said. "The effectiveness of investment attraction should be assessed not only through the scale of capital flows, but also through their spillover effects and their ability to create domestic production linkages."

Alongside domestic constraints, the international trade environment is creating new requirements. Duong noted that Vietnam was facing challenges arising from US import tariff policies since 2025, as well as technical criteria related to inputs "from a third economy."

"These requirements are making the origin of goods and sources of inputs increasingly important. Businesses participating in supply chains need to exercise greater control over raw materials, production processes, and related technical conditions if they want to maintain market access," Duong said.

Vietnam must also consider the risk of a "race to the bottom" within ASEAN. As countries compete to attract relocating investment, competition based primarily on incentives may fail to create the foundations needed to strengthen domestic production capacity.

Duong recommended shifting from an approach focused on the quantity of FDI attracted towards more selective investment screening, with priority given to high-tech and innovation-driven projects that establish linkages with domestic businesses.

Alongside project selection, Vietnam needs to develop supporting industries and improve logistics, digital infrastructure, and energy capacity, while strengthening risk management relating to rules of origin and trade defence. These are essential conditions for building a resilient production ecosystem, diversifying markets, and strengthening the economy's autonomy.

If the selection of investment flows determines the quality of the inputs into the investment attraction process, the capacity of domestic businesses determines how effectively Vietnam can capitalise on opportunities created by supply chain shifts.

Le Thi Duyen Hai, vice chairwoman and Secretary General of the Vietnam Tax Consultants Association. Photo: Manh Tuan

On tax policy, Le Thi Duyen Hai, vice chairwoman and Secretary General of the Vietnam Tax Consultants Association, said the focus should shift from "attracting investment into Vietnam" towards "upgrading the capabilities of Vietnamese businesses so they can become high-value links in global supply chains".

"This shift requires tax policy to be viewed from a perspective broader than the goal of reducing costs in the short term. Tax policy should not only reduce tax liabilities, but, more importantly, create incentives for Vietnamese businesses to change their growth models," she said.

Hai outlined a chain of outcomes: “Technology, R&D, Human Resources, Supply Chains, and Global Markets”. Technology, R&D activities, and the quality of human resources provide the foundation for businesses to improve their production capabilities, allowing them to participate more deeply in supply chains and gain access to international markets.

"This approach also shows that support policies need to focus on businesses' long-term capacity upgrading," she said. "If efforts stop at attracting more projects while domestic businesses lack the capacity to become suppliers, linkages and the value retained in the economy will be difficult to improve."

Delegates said policy and the business environment play an important role in helping companies adapt to supply chain shifts. Alongside tax policies and support measures, Vietnam needs to develop supporting industries, improve competitiveness, and strengthen linkages between domestic businesses and the FDI sector.

The goal is to raise localisation rates and establish high value-added production linkages. Achieving this requires Vietnamese businesses to strengthen their capabilities, while policies need to create conditions for companies to access orders, expand markets, and participate more deeply in regional and global supply chains.

Supply chain shifts are creating opportunities to attract investment and expand markets, but they are also highlighting weaknesses in supporting industries, logistics, and production linkages. The challenge is no longer simply to bring more FDI into Vietnam, but to select investment flows that are better aligned with the country's development goals and create conditions for domestic businesses to gradually become high-value links in global supply chains.

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