"Protecting intellectual property is essential when building a marketplace that consumers and brands can trust," said a Temu spokesperson. "Joining the IACC reflects our ongoing commitment to IP protection, and we look forward to constructive collaboration with industry peers and stakeholders."

Temu joins as a General Member of the IACC and will seek to deepen collaboration with brands, industry associations and enforcement agencies across the coalition's network. Temu will contribute to cross-industry working groups, share expertise and advance joint efforts to strengthen intellectual property protection and consumer safety worldwide.

"We're pleased to welcome Temu as a member of the IACC and its continued efforts in intellectual property protection," said Bob Barchiesi, President of the International AntiCounterfeiting Coalition. "Addressing counterfeiting requires coordinated, cross-industry action. The IACC brings stakeholders together to align efforts and share best practices. We look forward to Temu's active participation in our network as we continue advancing a safer and more trusted online ecosystem worldwide."

The IACC membership builds on Temu's existing partnership with the organization. In May 2025, Temu signed a Memorandum of Understanding with the IACC and joined its Marketplace Advisory Council (MAC) as an inaugural member — a cross-industry forum that includes online marketplaces, payment providers and global brands.

Temu's IP enforcement system operates across every stage of the platform, from seller vetting and pre-listing screening to 24/7 post-listing monitoring. The system's proactive monitoring database covers more than 6,700 brands using more than 38 million images and 9 million keywords. Over 99.9% of takedown requests are resolved within three business days, with an average resolution time of less than one business day.

Through its Brand Guardian Initiative, launched in April 2024, Temu works directly with more than 1,500 brands, providing enforcement tools, one-on-one support and regular enforcement data insights.

The patient was dosed at Austin Health in Melbourne, Australia, under the supervision of Professor Hui Gan. IPAX BrIGHT is assessing the safety and efficacy of TLX101-Tx in combination with chemotherapy (lomustine), compared to chemotherapy alone. The global, multicenter, open-label study will enroll patients with radiographically confirmed recurrent glioblastoma at first recurrence.

Telix's commitment to advancing care for patients with glioblastoma is driven by the significant unmet need in this space. In the past 25 years, only two drugs have been approved by the United States Food and Drug Administration (FDA) for glioblastoma[2], and no standard treatment currently exists for recurrent disease. Patients therefore face limited treatment options after initial therapy. TLX101-Tx offers a novel approach by targeting the L-type amino acid transporter 1 (LAT1), a transporter that enables the radiopharmaceutical to cross the blood-brain barrier and delivers therapy directly to the tumor.

IPAX BrIGHT expands upon promising data from earlier trials in the recurrent glioblastoma setting, including IPAX-1[3], which reported a median overall survival (OS) of 13 months from the initiation of treatment with TLX101-Tx, or 23 months from initial diagnosis[4]. Preliminary results from the IPAX-Linz investigator-initiated trial of TLX101-Tx were consistent and confirmatory to IPAX-1, with a median OS of 12.4 months from initiation of treatment and 32.2 months from initial diagnosis[5]. Beyond the clinical trial setting, an early access program for TLX101-Tx in Europe has dosed 18 patients at first recurrence or later, further establishing the clinical utility of TLX101-Tx.

Professor Gan, Director of Cancer Clinical Trials at Austin Health, said, "Based on the prior safety profile and early efficacy data for TLX101-Tx in the IPAX-1 and IPAX-Linz studies, I am pleased to continue to explore this therapeutic modality in the first radiopharmaceutical pivotal trial in recurrent glioblastoma, where there are currently few effective treatment options."

Dr. David N. Cade, Group Chief Medical Officer, Telix, added, "Through the IPAX BrIGHT trial, we aim to offer a new option for patients affected by glioblastoma. This registration-enabling study represents a major step forward in our mission to improve therapeutic options in neuro-oncology. With very limited innovation in treatment in recent decades, TLX101-Tx has the potential to become a first-in-class therapy that meaningfully improves patient outcomes."

The IPAX BrIGHT study has received regulatory approval in Australia, Austria, Belgium and the Netherlands with approval being sought in additional jurisdictions. Telix's investigational PET[6] imaging agent for glioma, TLX101-Px (floretyrosine F 18) will be used for patient selection in IPAX BrIGHT, as well as assessing metabolic tumor response according to PET RANO 1.0[7].

Since its launch in the Canadian market in October last year, 'Real Kimchi Ramyun Noodle Soup' has quickly gained traction, receiving strong positive responses from local consumers. Unlike conventional ramyun products that rely on dried flakes, Ofood Kimchi Ramyun uses real Kimchi from Korea's No.1* Kimchi brand Jongga, delivering the authentic taste of traditional Korean Kimchi stew. This differentiated approach has contributed to its rapid market growth.

Ofood Kimchi Ramyun is available in two varieties: 'Real Kimchi Ramyun Noodle Soup', featuring a spicy soup base, and 'Real Fiery Kimchi Stir-fried Ramyun', made with gochujang. Both products use fresh Kimchi instead of dried flakes, offering a crisp texture and deep fermented flavor. While balancing sourness and aroma, the products retain the signature spiciness of Korean ramyun, making them appealing to a wide range of consumers.

Active marketing efforts targeting local Gen Z consumers also contributed to the strong performance. Ofood enhanced brand awareness through outdoor advertising in major Canadian cities and digital campaigns on social media platforms such as Instagram and TikTok. In addition, large-scale sampling events held around major universities, including the University of Toronto, helped expand engagement with younger consumers familiar with Korean culture and bold flavors, leading to actual purchases.

Following strong sales performance, distribution expansion is also accelerating. In addition to existing retail channels such as Costco and Loblaws, Ofood Kimchi Ramyun is now available at FreshCo, where it is currently sold in approximately 70 stores across Canada, with plans to expand distribution to more than 150 locations nationwide in the second half of the year.

Seungin Jung, Head of Global Discovery BO at Daesang, said, "Ofood Kimchi Ramyun is rapidly gaining traction in the Canadian market as a product that allows consumers to enjoy the authentic taste of Korean Kimchi. We will continue to strengthen the presence of K-food in North America through marketing tailored to local consumer lifestyles and expanded distribution channels."

Meanwhile, Ofood Kimchi Ramyun is also available through major online and offline channels in the United States, including Costco, Kroger, and Amazon, as Daesang continues to expand its global brand activities across the North American market.

For more information, visit www.ofoodglobal.com/

The findings are published in Resilience by Design: Building Connected Ecosystems for the Age of Disruption, a report supported by Telstra International. It draws on a survey of more than 1,400 senior executives across seven industries and 11 APAC markets[1], with comparative benchmarks from the United States, United Kingdom and Germany.

The findings highlight Singapore's focus for the next phase of digital resilience: bridging the gap between regulatory compliance and operational agility, ensuring that boards are prepared for failures not only within their own organisations, but across the broader digital ecosystem they rely on – including partners and supply chains.

Charles Ross, Head, Policy and Insights, APAC, Economist Impact said: "Singapore's top ranking is a testament to its gold-standard regulatory environment and national focus on digital resilience. However, our research shows that strong compliance and operational discipline are not enough. In an era of compounding risks, digital resilience depends not only on internal safeguards but on the strength of wider ecosystems. And ultimately, the ability to respond and adapt rests as much on leadership and culture as on technology."

Roary Stasko, CEO, Telstra International said: "Singapore shows up strongly in the research, reflecting its deep investment in digital capability. However, digital resilience today is no longer something any business can build alone. As ecosystems become more interconnected, leadership teams need to move beyond a compliance mindset and take shared accountability for digital resilience across partners, suppliers and networks. Organisations that embed digital resilience into strategy, governance and ecosystem design will be far better positioned to adapt and respond when disruption hits."

The research uses a Digital Resilience Barometer that evaluates capabilities across five pillars: the external enabling environment, technology and infrastructure, risk management, leadership, and workforce and cultural agility. In APAC, Singapore ranked #1 in overall digital resilience capability as well as in risk management and workforce and cultural agility. It was placed #2 in technology and infrastructure – but ranked lower in external enabling environment (#6) and leadership (#10).

Leadership, which assesses C-suite accountability and how deeply digital resilience is embedded in strategy, is the city-state's clearest gap. 71% of Singapore respondents say that boards or executive committees do not review the effectiveness of digital resilience plans on a regular basis, leaving this responsibility concentrated in a single function, such as IT, rather than shared across the C-suite. This siloed ownership reinforces the tendency to treat digital resilience as a cybersecurity issue rather than a strategic board priority.

Ecosystem digital resilience is the weakest link
Despite Singapore's lead in digital resilience, confidence collapses once operations move beyond a company's own walls (supply chains, cloud providers, and third-party vendors).

While 22% of Singapore organisations report having first-hand insight into the digital resilience capabilities of their suppliers and partners, limited information-sharing, infrequent joint resilience simulations with key ecosystem partners, and weak partner governance make ecosystem interdependencies the main source of digital resilience failure. This matters, especially in Singapore: as a regional digital hub, disruptions do not stay local; they cascade across supply chains, cloud platforms, and cross-border connectivity.

Execution gaps in digital resilience practices
Even with top rankings across the workforce and cultural agility and risk management pillars, Singapore faces a significant gap between preparedness and actual performance.

Despite high confidence in national reskilling and upskilling at scale, a closer look at employees' digital resilience behaviours shows that there is a persistent gap between awareness and effective action. While 82% have upskilling programmes and 85% run organisation-wide digital resilience training, only 12% mandate training that builds team adaptability, particularly during outages.

Although Singapore respondents are confident in structured preparedness to anticipate, mitigate and respond to disruptions, only 30% of organisations say their responses to recent disruptions went mostly or exactly to plan. Singapore is 14 percentage points above the average on citing inadequate scenario planning for when responses to threats do not go according to plan.

Additionally, organisations spend to comply, not to respond: 85% cite high compliance cost but 74% lack fulltime digital resilience teams and 60% lack dedicated budgets to digital resilience initiatives.

The next phase for Singapore's digital resilience
Amid rising digital risks, hybrid work and rapid AI adoption, enterprises must close the gap between strategy and execution to reach the next phase of digital resilience.

"As digital disruption grows in frequency and complexity, strengthening resilience amid operational or cyber risks is becoming a differentiator for organisational stability and competitiveness," Stasko added. "At Telstra International, we work closely with government, industry and key partners to stay ahead of emerging threats, with a global network designed with layered digital resilience, proactive monitoring and strong continuity planning to help keep businesses connected and prepared as conditions evolve."

For further information and to access the full report, please visit this link.

For more information, please visit TelstraInternational.com.

Energy productivity measures the economic value generated from each unit of energy – improving it delivers the same (or greater) output from less energy. The report shows that more efficient ships, planes and industrial plants, using less material, using things for longer and recycling more can reduce the cost and complexity of decarbonising energy-intensive industries while strengthening industrial competitiveness.

Energy-intensive sectors, aluminium, aviation, cement, plastics & chemicals, shipping and steel, form the foundations of modern economies: our houses, transport and goods. Together, these sectors account for around a quarter of global energy demand.

By 2025, steel, aluminium, cement and plastics & chemicals demand is expected to grow 25%-100%, aviation 150%, and shipping 45%, driven by rising global prosperity, urbanisation and industrialisation. This growth could be delivered using 25-45% less energy and at lower cost, by improving energy productivity, compared to a scenario with no productivity gains, says the new briefing Harnessing energy productivity for industrial competitiveness.

Three complementary strategies can reduce energy demand across energy-intensive sectors:

1. Technical efficiency - reducing the kWh input required to deliver the same product or service.

2. Service efficiency - reducing the volume of product or service required to deliver the same standard.

3. Material efficiency - reducing the material input to deliver a given product.

"Clean electricity and low-carbon fuels are essential to decarbonise steel, cement, plastics & chemicals, aluminium, aviation and shipping - and while they carry modest "green premiums", these are manageable at consumer level. Improving energy productivity by using materials more efficiently and deploying better technologies, enables us to meet rising demand for buildings, products and transport while reducing energy demand and related costs," said Adair Turner, Co-Chair of the Energy Transitions Commission.

"The energy crisis provoked by the conflict in the Middle East is a reminder of how exposed many economies still are to fossil energy supply disruptions and price spikes that feed through into everything from transport and industry to food production. The shift to clean industrial supply chains, anchored to a much greater extent in domestically produced energy, chemicals, and materials (including recycled materials), is essential to make economies more resilient. And using these resources more effectively will make the transition cheaper and faster." said Faustine Delasalle, CEO of Mission Possible Partnership.

The opportunity is substantial. Recycling aluminium is approximately 95% less energy-intensive than new production. In cement, reducing clinker content and optimising building design represent the largest levers to lower energy requirements.

Decarbonising some energy-intensive sectors requires a transition to low-carbon solutions, such as hydrogen, ammonia, bioresources, and carbon capture and storage (CCS). These low-carbon solutions are themselves energy intensive and depend on a scaling up of clean energy infrastructure. As industries adopt low-carbon solutions, productivity improvements can limit cost increases to materials and transport, and reduce the impact on businesses and consumers.

The Energy Transitions Commission and Mission Possible Partnership's work is anchored in four priorities that define this decisive decade: Doubling the rate of energy efficiency improvement to 4% per year by 2030; Tripling global renewable power capacity by 2030; Electrify - scaling clean electrification of growing energy demand; and Build Clean Now, moving clean industrial capacity from ambition to execution. Energy productivity improvements align with all four priorities.

Download the technical briefing: https://www.energy-transitions.org/publications/energy-productivity-for-industrial-competitiveness

For further information, visit: www.missionpossiblepartnership.org and https://www.energy-transitions.org

The initial conversion price of the Convertible Bonds is US$13.85 (~A$19.55) per Ordinary Share, which represents a conversion premium of 37.5 per cent over the reference share price (A$14.22 per Ordinary Share), subject to anti-dilution adjustments set out in the final terms and conditions of the Convertible Bonds.

The Convertible Bonds will bear interest at a rate of 1.50 per cent per annum. Interest will be payable quarterly in arrear on 22 January, 22 April, 22 July and 22 October in each year, beginning on 22 July 2026. The Convertible Bonds will mature on or about 22 April 2031, unless redeemed, repurchased, or converted in accordance with their terms.

Under the reverse bookbuilding process announced by Telix on 14 April 2026 (the "Concurrent Repurchase"), Telix will concurrently repurchase approximately A$637 million of its existing A$650 million convertible bonds due 2029 ("Existing Convertible Bonds"). The Concurrent Repurchase will result in the repurchase and cancellation of more than 85% of the Existing Convertible Bonds. Telix intends to exercise its right to redeem the remaining Existing Convertible Bonds.

Settlement of the Offering and the Concurrent Repurchase is expected on 22 April 2026 and is subject to satisfaction of customary conditions. The Existing Convertible Bonds that are to be repurchased will be cancelled in accordance with their terms and conditions.

Managing Director and Group CEO, Dr. Christian Behrenbruch, said: "The successful completion of the convertible bonds refinance is in line with our capital management strategy and provides financial flexibility for Telix. We are pleased with the support we have received from both existing and new investors as part of the concurrent repurchase and new issue of convertible bonds."

J.P. Morgan Securities plc ("J.P. Morgan") is Sole Bookrunner on the Offering and Sole Dealer Manager on the Concurrent Repurchase.

J.P. Morgan completed the delta placement of Ordinary Shares at a clearing price of A$14.22 per Ordinary Share, which represents an 8.0 per cent discount to Telix's closing price of A$15.45 on 14 April 2026 and a 3.2 per cent discount to the 5-day volume weighted average price per share of A$14.69. This acts as the reference price to determine the initial conversion price of the Convertible Bonds.

Key terms of the Convertible Bonds

Deputy Governor Pham Thanh Ha addressing the meeting

Geopolitical tensions, particularly the escalation of conflict in the Middle East, have exerted significant pressure on global commodity and financial-monetary markets. Oil prices have surged, while supply chains have faced disruptions.

“In that context, central banks have responded more cautiously to the risk of inflation rebounding. These developments are placing pressure on monetary policy management in open, emerging and developing economies like Vietnam,” he said.

Despite such challenges, Vietnam’s economy recorded GDP growth of 7.83 per cent on-year in the first quarter. Macroeconomic stability has been maintained, with inflation kept under control. Monetary policy management and banking sector performance have played an important role in these overall achievements.

Regarding interest rate management, the Deputy Governor said that in the early months of the year, the SBV kept its policy rates unchanged, enabling credit institutions to access funding at low cost and thereby support the economy.

On April 9, newly appointed Governor Pham Duc An chaired a meeting to expedite banking sector tasks, where participating banks were unanimous on following the direction of the government and the SBV on lowering market interest rates to support businesses and households.

Pham Chi Quang, director-general of Monetary Policy at SBV, said that following the meeting with the new governor, most commercial banks demonstrated strong agreement with the central bank’s policy on lowering interest rates.

“Immediately after the meeting, based on our preliminary monitoring up to today, around 26 commercial banks have simultaneously reduced their listed interest rates across channels, from in-branch transactions to online platforms via internet-based applications. Most adjustments have focused on tenors of over six months, in line with the SBV's orientation,” Quang said.

“We expect that in the coming period, the spillover effects of lower deposit rates will help banks reduce funding costs, thereby creating room to further cut lending rates and support economic growth,” he added.

According to Deputy Governor Ha, in credit management, the central bank is targeting system-wide credit growth of around 15 per cent, with adjustments to be made in line with actual developments, ensuring inflation control, macroeconomic stability, and the safety of the credit institution system.

The SBV will continue to conduct monetary policy in a proactive and flexible manner, in close coordination with fiscal policy and other macroeconomic measures, while maintaining the priority of keeping average inflation at around 4.5 per cent in 2026, thereby supporting macroeconomic stability.

Accordingly, the SBV will flexibly manage open market operations in line with monetary policy objectives and provide timely liquidity support to credit institutions.

“With these coordinated measures, as of March 31, total outstanding credit across the system reached over $767.2 billion, up 3.18 per cent compared to the end of 2025,” Deputy Governor Ha said.

Banks bolster risk buffers to safeguard asset quality amid credit expansion Banks are ramping up loan-loss provisions, prioritising stronger balance sheets and asset quality over short-term profit growth amid rising credit expansion and potential market risks.

Banks ramp up plans to establish VIFC subsidiaries Banks are accelerating plans to set up subsidiary banks at the Vietnam International Financial Centre to expand the ecosystem and enhance international competitiveness.

Banks brace for major leadership reshuffle amid strategic reset The local banking sector is entering a pivotal shareholder meeting season, marked by sweeping leadership reshuffles, governance reforms, and renewed strategic priorities following years of restructuring and balance sheet clean-up.

Years of human development gains across Asia-Pacific are under pressure as the impacts of the recent military escalation in the Middle East ripple through economies and households, despite a temporary ceasefire.

As the situation remains fluid, a current preliminary analysis by the UNDP examines how heightened volatility, transmitted through energy, trade, and labour markets, is straining incomes, consumption, jobs and social protection across the region. Low-income households, informal workers, migrants, and small enterprises are among the most at risk. Women are the most vulnerable across these categories.

The report, “Military Escalation in the Middle East: Human Development Impact Across Asia and the Pacific,” released in April, synthesises impact and needs assessments covering 36 countries, complemented by macroeconomic simulations, and provides a regionwide outlook as well as how different countries are currently responding to these pressures.

Rising fuel and freight costs are the most immediate pressure point. With over 80 per cent of crude and liquefied natural gas transiting the Strait of Hormuz destined for Asian markets, the region is experiencing rapid pass through of higher pricing on transport, electricity, food and fertiliser.

For an export-oriented economy like Vietnam, these fluctuations in global shipping and energy costs present a direct challenge to maintaining stable growth and protecting the purchasing power of citizens.

Informal employment in Asia and the Pacific, per cent of total employment, population aged 15+

The report estimates that 8.8 million people across the region are at risk of falling into poverty. Output losses could range from $97 billion to $299 billion, equivalent to between 0.3 and 0.8 per cent of regional GDP.

Governments across the region, including Vietnam, have responded rapidly to cushion the domestic shocks through fuel price stabilisation, targeted subsidies, and early adaptive measures such as diversifying energy supply and improving energy efficiency.

“The UNDP welcomes Vietnam timely response through emergency fiscal measures and pricing support to stabilise the economy,” said Ramla Khalidi, the UNDP's resident representative in Vietnam. “At the same time, we remain mindful of international experience that shows that prolonged fossil fuel support measures risk reversing the country’s energy transition goals. Accelerating the just energy transition is essential for Vietnam long-term energy security and to build resilience against global shocks”.

In other countries, human development losses under a short‑duration scenario range from weeks to months of foregone development progress. While Southeast Asia experiences comparatively smaller setbacks than South Asia, the report warns that disruptions could escalate significantly if they persist.

“The strain this war is placing across Asia-Pacific is already visible. It is reaching households faster than policy can adjust,” said Kanni Wignaraja, UN assistant secretary‑general and UNDP regional director for Asia-Pacific. “The resulting prolonged volatility in global markets is imposing increasingly difficult tradeoffs between stabilising prices, supporting vulnerable households, and maintaining essential public services and market investments. At the same time, we see important opportunities for countries to accelerate long‑term resilience through adaptive social protection, stronger local and regional value chains, and diversified energy and food systems.”

The report is part of a series of socioeconomic analyses produced by the UNDP to support policymakers to unpack the human development consequences of the current conflict, and identify options for a development response as a first line of defence.

Resilient Vietnam economy faces Middle East headwinds Despite escalating tensions in the Middle East, Vietnam's economy remains resilient with strong growth prospects, according to Nguyen Dieu Huyen, deputy head of the National Accounts System Department at the National Statistics Office.

WWF, Dong Thap launch second phase of climate resilience project WWF-Vietnam has launched the second phase of a climate resilience project in the Mekong Delta, aiming to restore freshwater ecosystems and secure sustainable livelihoods.

Vietnam’s garment sector shows resilience despite headwinds Vietnam’s garments and textiles industry posted a resilient performance in the first quarter of 2026, with export turnover exceeding $8.8 billion. However, geopolitical uncertainties are posing significant challenges to the industry’s full-year target of nearly $50 billion.

Ministry of Construction drafts criteria to assess urban climate resilience The Ministry of Construction is drafting a circular to guide criteria for assessing climate change resilience in cities, as part of efforts to boost urban sustainable development.

According to Dao Xuan Tuan, director general of the SBV’s Foreign Exchange Management Department, the central bank is currently working with relevant ministries and agencies to review applications and determine which entities meet the required conditions.

“We are coordinating with ministries and relevant authorities to assess and grant licences to qualified institutions. Once licensed, eligible entities may also be considered for gold import permits in line with existing regulations,” Tuan said.

The update marks an increase from nine applicants reported at the end of 2025, reflecting stronger momentum following regulatory adjustments to the gold market.

The licensing push comes as gold prices continue to experience significant volatility, both globally and domestically. SBV data show that gold prices remained elevated in the first quarter of 2026, driven largely by geopolitical tensions, military conflicts, and intensifying strategic competition worldwide.

On April 14, domestic gold prices staged a notable rebound after a recent correction. Prices quoted by major players such as SJC and DOJI rose by around VND2 million ($80) per tael on the buying side and VND1.5 million ($60) per tael on the selling side, bringing the popular range to VND170-173 million ($6,800-6,900) per tael.

This recovery follows a sharp decline in late March, when prices dropped to around VND163 million ($6,500) per tael, before stabilising and fluctuating within a VND169-175 million ($6,700-7,000) range in recent sessions.

On the global market, gold has also been influenced by macroeconomic and geopolitical developments. The recent collapse of peace negotiations between the United States and Iran has heightened inflation concerns, reinforcing gold’s role as a safe-haven asset. Spot gold prices are currently hovering around $4,700-4,800 per ounce.

Inflation trends continue to play a decisive role in shaping gold market dynamics. Data from the US Bureau of Labor Statistics show that the country’s Consumer Price Index rose by 0.9 per cent in March, up sharply from 0.3 per cent in February, though slightly below market expectations of 1 per cent. Overall US inflation currently stands at 3.3 per cent, broadly in line with forecasts.

Rising inflation, combined with escalating geopolitical risks, is prompting investors to reassess expectations for monetary policy. Markets are increasingly pricing in the possibility of prolonged policy tightening or delayed interest rate cuts, which in turn contributes to continued volatility in gold prices.

Analysts note that gold will likely remain highly sensitive to developments in geopolitical negotiations and macroeconomic indicators in the near term. Amid these fluctuations, the SBV emphasised that it will continue to closely monitor both domestic and international gold markets, while implementing existing regulatory frameworks to ensure stability.

To qualify for a gold bar production licence, applicants must meet strict financial requirements. Enterprises are required to have charter capital of at least VND1 trillion ($40 billion), while commercial banks must maintain a minimum of VND50 trillion ($2 billion).

Based on these thresholds, only a limited number of large corporations and financial institutions are eligible. Among enterprises, major players such as PNJ, DOJI, and SJC meet the capital requirements. On the banking side, institutions including Vietcombank, VPBank, Techcombank, BIDV, MB, VietinBank, and Agribank are considered qualified.

The move to expand licensed gold bar production, coupled with tighter regulatory oversight, signals a broader effort by authorities to formalise and stabilise Vietnam’s gold market.

Banks roll out God of Wealth Day promotions Banks are launching sweeping promotions for God of Wealth Day 2026, blending tradition with competitive interest rates, gold rewards and high-value prizes to attract early-year deposits and bolster spending.

Silver bullion could follow gold onto MXV trading floor Silver bullion could be listed on the Vietnam Mercantile Exchange as authorities move to standardise trading and establish a transparent pricing mechanism.

Gold market reform advances as SBV receives applications for bullion production Nine banks and enterprises have filed applications for gold bullion production licences with the State Bank of Vietnam (SBV) following new regulatory amendments, as authorities cautiously move to reshape the domestic gold market amid soaring prices and global uncertainties.

The Department of Urban Development has advised leaders of the MoC to issue a plan to draft a circular, and to coordinate with a group of experts to support the development of a set of indicators to assess the resilience of urban areas to climate change.

The department and a team of experts reviewed the Party's policies and guidelines; several legal documents and standards in climate change response and resilience; and international experiences.

Vien explained that the resilience assessment criteria comprise five groups covering urban development management policies, key urban infrastructure, ecological environment, social capacity, and economic and financial capacity.

Deputy Minister of Construction Nguyen Tuong Van chaired the meeting. Photo: the MoC

The evaluation criteria ensure alignment with international trends, suitability to the realities of Vietnam, regional conditions, and urban types. The assessment of urban resilience to climate change is categorised into weak, medium, fair, and good levels.

Local people's committees organise the assessment for Type I, Type II, and Type III urban areas subject to assessment within their jurisdiction. The MoC publishes the assessment results of these urban areas on the ministry's database information system.

At a meeting to discuss the development of the draft circular on April 10, Deputy Minister of Construction Nguyen Tuong Van asked the drafting unit and research team to thoroughly review the current system of legal regulations, clarify the legal basis, and ensure that the implementation roadmap is consistent with reality.

The criteria should be developed based on the actual characteristics of Vietnam's urban system, with similarity with other relevant indicator sets.

The assessment content must focus in depth on the practical conditions of various types of natural disasters in Vietnam, such as flooding and landslides, tailored to each type of urban area and regional characteristics.

The deputy minister also requested the drafting unit to study the feasibility of piloting in several localities, from the plains and mountainous areas to coastal regions, to ensure the feasibility and effectiveness of the circular when put into practice.

Urban areas contribute more than 70 per cent of GDP and 90 per cent of new non-agricultural jobs in Vietnam, but are also the most vulnerable areas to natural disasters. Each year, the damage caused by climate risks is estimated at up to $3.75 billion. From the experience of climate-resilient urban projects in Can Tho, flooding time has been reduced by 60 per cent thanks to the application of climate-smart infrastructure.

According to experts, developing climate-resilient urban areas is an urgent and long-term task, requiring synchronous coordination between policies, finance, planning and science and technology. Putting people at the centre, strengthening governance, ensuring social equity and promoting international cooperation will be the foundation for creating safer, greener and more liveable Vietnamese cities in the future.

Takeda supports health resilience amid climate change challenges With world leaders having gathered at COP30 in Brazil in November, health was one of the central themes in the global climate dialogue.

Swedfund invests in MSME growth and climate action in Vietnam Swedfund announced on December 18 an investment in Vietnamese EVF General Finance JSC (EVF) through a loan of up to $20 million.

Australia contributing to Vietnam’s climate change responses Australia is balancing innovation, digital transformation, and economic development while ensuring green growth. Australian Ambassador to Vietnam GILLIAN BIRD talked to DUC HANH about the efforts of the Australian government in supporting Vietnam to implement sustainable development in key industries.

Insurance protection for climate-resilient progress The World Bank has estimated that about $300 billion of the country’s commercial and industrial assets are vulnerable to climate-related disasters. Patrick Lenain, senior associate at the Council on Economic Policies, looks at the gaps in insurance protection and how solutions for such gaps can be crafted.

On April 10, Khanh Hoa People's Committee and the Trung Nam–Sideros River investor consortium signed the contract to implement the Ca Na Liquefied Natural Gas (LNG) power plant. The project aims to supplement energy supply, ensure national energy security, and meet growth requirements.

The plant is designed to use the combined-cycle gas turbine technology with a capacity of 1,500 MW. It is expected to supply around 9 billion kWh per year to the national grid.

It will also feature an LNG storage and regasification system with a capacity of 1 to 1.2 million tonnes per year and a storage tank of 220,000 cubic metres. Other facilities include an LNG import terminal, a 2,400m-long eastern breakwater, and supporting infrastructure.

The site covers nearly 140 hectares of land and water surface, with total capital estimated at over VND57 trillion ($2.2 billion). The venture is scheduled to be completed and operational by 2030.

Trinh Minh Hoang, Vice Chairman of Khanh Hoa People’s Committee, said, “This is a key venture in the energy sector. Once operational, it is expected to make a significant contribution to the local budget while creating employment and shifting the economic structure towards industry and energy.”

At the event, Ca Na Port and Vietnam Development Bank signed a credit contract for phase one of the port project, with maximum mobilised capital of VND3 trillion (approximately $114 million) and a commitment to full disbursement by July 2027.

The port is planned as a deepwater facility capable of receiving vessels of 300,000 to 500,000 tonnes. It also aims to develop a multimodal logistics system and a transshipment centre serving import and export activities, particularly for energy sectors including wind power, offshore wind power, and super-long and super-heavy cargo.

Nguyen Tam Thinh, chairman of Trungnam Group, said, "By implementing these two ventures, we are committed to accompanying Khanh Hoa province in establishing an infrastructure chain of port, terminal, LNG power plant, and a green industrial park in the near future."

Trung Nam-Sideros River consortium wins bid for LNG venture A consortium between Trung Nam Group and Sideros River has won the bid for the Ca Na liquefied natural gas (LNG) power plant venture, with a total investment of $2.2 billion.

Novatek eyes expanded LNG cooperation in Vietnam As Vietnam races to secure its energy future and meet the demands of its surging economy, a new partnership with a Russian energy giant is taking shape, signalling a deepening of the nations' long-standing ties.

PV GAS increases capacity of Thi Vai LNG terminal Petrovietnam Gas (PV GAS) on April 7 announced that its logistics subsidiary has successfully completed a trial run to increase regasification capacity of its Thi Vai liquefied natural gas (LNG) terminal.

At the company's AGM in Ho Chi Minh City on April 13, Binh Son Refining and Petrochemical JSC (BSR) general director Nguyen Viet Thang said an emergency plan had been activated since the conflict began.

"We have formulated several scenarios ranging from some weeks to half a year based on market developments," said Thang. "The company closely follows the scenarios and ensures crude oil supply to operate at high capacity until early July."

"With the support of Petrovietnam, the company has purchased all crude oil produced locally for its Dung Quat refinery. The volume is sufficient to run the refinery at 90 per cent of its designed capacity," he said, adding that BSR has just signed long-term agreements with many partners from the United States and West Africa in a bid to increase crude oil supply.

Geopolitical tensions in the Middle East since late February have negatively impacted global energy security in 2026. However, BSR has implemented flexible solutions and achieved strong business results.

By the end of the first quarter of 2026, BSR had recorded a production output of 2.03 million tonnes, revenue of VND41.28 trillion ($1.59 billion), state budget contribution of VND3.81 trillion ($146.54 million), and after-tax profit of VND3.35 trillion ($128.85 million).

For the remainder of 2026, despite continued market volatility, BSR is targeting at least 10 per cent revenue growth, with full-year goals of approximately 7.76 million tonnes in production output, 7.71 million tonnes in sales volume, consolidated revenue of VND154.14 trillion ($5.93 billion), after-tax profit of VND2.16 trillion ($83.1 million), and state budget contribution of VND12.6 trillion ($484.62 million).

To achieve its targets, BSR has identified several key priorities for 2026 and beyond. The company will continue to ensure the safe, stable, and efficient operation of Dung Quat Refinery to maintain a reliable petroleum supply for the domestic market. At the same time, BSR will further optimise production and business performance through cost management, improved operational efficiency, and technological innovation.

Investment activities – particularly the Dung Quat Refinery Upgrade and Expansion project – will remain a priority to enhance long-term competitiveness. In parallel, BSR will continue to improve its corporate governance system in line with modern standards, strengthen risk management, and enhance internal coordination efficiency.

One of BSR’s key strategic directions in the coming period is to advance green transition and sustainable development. The company aims to gradually reduce greenhouse gas emissions, improve energy efficiency, and develop environmentally friendly products. Environmental, social, and governance factors will also be integrated into production, business, and investment activities – serving both as a requirement and an opportunity to enhance competitiveness.

Site clearance work launched for Dung Quat refinery upgrade Binh Son Refining and Petrochemical JSC and Petrovietnam Construction JSC held a ground-breaking ceremony on February 2 as part of the site clearance package for the Dung Quat refinery expansion in Quang Ngai province.

US firms deepen energy engagement with Vietnam US companies are stepping up engagement with Vietnam's energy sector, underscoring growing bilateral cooperation across energy security, clean energy development and long-term sustainable growth.

Fuel imports rise in first quarter amid global market volatility Vietnam has ramped up fuel imports in the first quarter of the year amid global energy market volatility due to the tensions in the Middle East.

While the brokerage segment has grown, competition – particularly among mid-tier securities firms – has intensified. Data from the Ho Chi Minh City Stock Exchange (HSX), Hanoi Stock Exchange (HNX), and the Unlisted Public Company Market (UPCoM) show that the top three firms retained their rankings, though notable shifts occurred among those trailing behind.

Accordingly, VPS Securities maintained its top position across all three exchanges. Its market share on HSX edged down to 15.3 per cent, but improved significantly on HNX and UPCoM compared with the Q4 of 2025. On HSX, SSI Securities and Techcom Securities remained firmly in the top three.

In the mid-tier group, Vietcap Securities climbed to fourth place with 7.35 per cent, narrowly surpassing Ho Chi Minh City Securities Corporation. Meanwhile, VCBS re-entered the rankings, replacing Mirae Asset Vietnam.

At FPT Securities, declining brokerage market share has pushed the firm out of the HSX top 10 since Q2 of 2025. Addressing shareholders at its AGM held on March 31 in Hanoi, the company leadership cited intensifying fee competition as a key factor behind falling brokerage revenue.

According to FPTS executives, as many securities firms simultaneously cut fees to attract and retain clients, the company has little choice but to follow suit to avoid losing market share. They acknowledged that maintaining higher fees might preserve short-term benefits but would erode long-term competitiveness and directly impact the client base. Where competition once centred primarily on fee cuts, the race has now entered a more complex phase, with advantages increasingly driven by capital, technology, and integrated service ecosystems.

Vietcap Securities stands out as one of the firms posting the most impressive brokerage market share gains in Q1. Analysts note that advisory activities have also contributed to improved brokerage revenue. As early as Q1, the company booked advisory income from the initial public offering of Hoa Phat Agriculture.

Advisory operations are expected to continue growing, supported by new IPO deals. With a pipeline of deals valued at approximately $400–500 million, brokerage revenue is expected to benefit from this advisory-driven momentum. Spillover effects from other business pillars are also likely to persist.

At the end of 2025, Vietcap completed a private placement of 127.5 million shares, successfully raising more than $158 million. Under the plan, 80 per cent of the proceeds shall be allocated to margin lending, while 20 per cent will support proprietary trading. This strong capital base, aligned with the sharp rebound in market liquidity, has helped Vietcap deliver robust growth since the start of the year.

Speaking at the company's AGM on March 30, CEO Ton Minh Phuong estimated that the company's pre-tax profit in Q1 reached around $16 million, up more than 30 per cent on-year.

Recent developments also show that several securities firms have quickly established new positions after only a few years of transformation through mergers and acquisitions, with many firms now targeting entry into the top tier. For instance, after rapidly expanding its presence in derivatives brokerage, DNSE Securities entered the top 10 market share in the underlying equity segment on UPCoM for the first time in Q1.

At the company's AGM on March 26, chairman Nguyen Hoang Giang said he was confident DNSE would have greater opportunities to grow its equity brokerage market share. The expectation is underpinned by its ability to leverage technology infrastructure and the anticipated integration with VNeID, which could rapidly broaden its client base.

DNSE has been investing heavily in technology infrastructure, user experience, and expanding its customer base for derivatives as part of a strategic transition towards the underlying equity market.

Aside from DNSE Securities, many other securities firms are also accelerating investment in technology – from trading platforms and open APIs to applications of AI. These efforts are aimed at enhancing customer experience, increasing trading frequency, and ultimately expanding brokerage market share.

Securities firms race to raise capital ahead of market upgrade Securities firms are ramping up capital increases at an unprecedented pace, preparing for a potential market upgrade that could unlock massive foreign investment and reshape the financial landscape.

2025 profits mixed amid strong energy and farming results Corporate earnings in 2025 showed a sharp divergence, with energy and agriculture companies posting strong profit growth, while several firms in other sectors fell short of annual targets.

Securities firms step up tech race to capture market share Securities firms are accelerating technology investment – from AI-driven advisory to integrated digital platforms – transforming competition, strengthening system capacity, and positioning for rising liquidity and global market standards.

EraBlue operates stores of 150 to 350 square metres, small enough to enter dense residential neighbourhoods. Revenue per store is 1.5 to 2.6 times that of comparable Dien May Xanh outlets in Vietnam, with around 40 per cent of sales completed through instalment financing.

Source: Vietcap

Dien May Xanh, a key subsidiary of Mobile World Group, is one of Vietnam's leading electronics retailers, offering a wide range of appliances and digital products nationwide. PT Erajaya Swasembada Tbk is an Indonesian distributor and retailer of mobile devices and electronics, partnering with global brands and operating an extensive nationwide retail network.

Vietcap attributed the outperformance to Java’s population density of approximately 1,250 people per square kilometre, versus around 300 in Vietnam, which structurally supports higher foot traffic.

The chain’s ambitions are anchored in Indonesia’s underpenetrated market. The country’s combined ICT and consumer electronics market stands at $10.9 billion and is forecast by Statista to reach $20.4 billion by 2030 with no modern retailer currently holding nationwide coverage.

Existing chains such as Electronic City, with roughly 60 stores, and Hartono, with seven, operate large-format outlets of 1,000 to 4,000 sq.m inside shopping malls, effectively serving only the top 3 per cent of households by income.

Vietcap analysts drew a parallel between Indonesian consumer behaviour today and Vietnam's roughly 15 years ago, before Dien May Xanh accelerated market formalisation there.

In areas where the chain has operations for at least a year, offline consumer electronics market share has risen sharply, with long-term targets standing at around 50 per cent of the consumer electronics market and 10 to 20 per cent of the phone market in served areas.

The consumer electronics segment alone could expand to $4-8 billion, Vietcap said, as modern retail penetrates underserved residential areas and instalment-based purchasing grows.

An e-commerce channel is set to begin generating revenue from the second quarter of 2026, targeting 5 per cent of offline revenue, with the chain's expanding physical network serving as an omnichannel backbone.

Dien May Xanh, which holds a 45 per cent stake in the joint venture, has designated Erablue its fifth strategic growth pillar, projecting the venture's attributable net profit contribution at $13.6 million by 2030, or roughly 3 per cent of group net profit after tax.

Within the joint venture, Dien May Xanh leads store expansion and day-to-day operations, contributing its retail operating model, logistics design, service standards, KPI-based management culture and training systems.

Erajaya, which owns 55 per cent, provides the local platform, including real estate access, supplier relationships, legal execution and distribution infrastructure.

F88 partners with MB to transform over 850 financial stores into bank offices Military Commercial joint-stock bank (MB) and F88 signed a comprehensive cooperation agreement at MB's headquarters in Hanoi on December 16.

Meat samples from C.P. Vietnam stores test negative for disease following allegations The Ministry of Agriculture and Environment (MoAE) announced the results of pork inspections at the Fresh Shop chain of CP Vietnam Corporation in the Mekong Delta province of Soc Trang on June 2, after information spread and caused panic on social networks.

WinCommerce surpasses growth goals with rapid store rollout WinCommerce has posted strong revenue growth in the first two months of 2026, driven by store expansion and improved performance across its retail network.

On April 13, more than 100 representatives from central ministries, business associations, economists, financial and legal experts, commercial banks, and major corporations gathered for the event in Hanoi.

Opening the discussion, Nguyen Duc Hien, Deputy Head of the Party Central Committee's Commission for Policy and Strategy, revealed that a comprehensive proposal to reform Vietnam's development model – anchored in sci-tech and digital transformation – will be submitted to the Politburo at the upcoming Third Plenum of the Central Committee, scheduled for late June to early July.

He underscored the central role of the private sector in this transition. "The private economic sector is one of the most important growth drivers, contributing around half of GDP and generating a large share of employment," he noted. However, the sector remains fragmented, with more than one million registered enterprises – mostly small and medium-sized – alongside approximately five million household businesses.

Despite a clear policy ambition to build strong private conglomerates, progress has been slower than expected. "We have spent nearly three years trying to realise this goal, but tangible results remain limited," Hien added. A key mechanism – where the state commissions private enterprises to undertake major national strategic tasks – has been introduced but is being implemented slowly.

Nguyen Ngoc Canh, Deputy Governor of the State Bank of Vietnam

From the banking sector’s perspective, Nguyen Ngoc Canh, Deputy Governor of the State Bank of Vietnam, reflected on the transformative journey of the past four decades. “It is impossible to speak of doi moi without recognising the locomotive role of economic groups,” he said. Whether state-owned enterprises or private corporations, these entities have consistently formed the backbone of the economy.

They have contributed significantly to GDP and state budget revenues, while creating millions of jobs and delivering key national infrastructure and industrial projects. At the same time, they have helped elevate Vietnamese brands in manufacturing, services, and trade to the international stage, strengthening the country’s economic self-reliance.

The banking system, Canh explained, has evolved in tandem with this growth. “The continuous improvement of the legal framework governing monetary policy, credit, and banking operations has enabled credit institutions to channel substantial capital into the economy,” he said, highlighting the sector’s role in supporting production, business expansion, and overall economic growth.

By the end of 2025, total outstanding credit reached approximately VND18.6 quadrillion ($740 billion), up over 19 per cent on-year, equivalent to 144 per cent of GDP. Domestic enterprises accounted for roughly 48 per cent of total credit, while large corporations and state-owned groups comprised about 7 per cent. Banks have also accelerated the adoption of digital technologies, developing modern payment services that improve access to finance.

These achievements, he argued, demonstrate that the rapid development of Vietnam’s banking system is not just a source of financial resources for businesses but also a key driver of enterprise growth in its own right.

Providing a broader business perspective, Dau Anh Tuan, deputy secretary general of the Vietnam Chamber of Commerce and Industry, highlighted both the progress and the paradoxes of the private sector.

Vietnam now has over one million formally operating enterprises and around five million household businesses. The private sector contributes approximately half of GDP and generates the majority of jobs. Several private conglomerates have secured strong positions domestically and begun expanding regionally and globally. Resolution No.68-NQ/TW of the Politburo in 2025 identifies the private sector as “one of the most important drivers” and a “pioneering force” in the country’s industrialisation and modernisation.

Notable achievements are evident across sectors. In manufacturing, THACO has built a large automotive and mechanical production ecosystem, while VinFast has emerged as Vietnam’s first electric vehicle producer, listed on Nasdaq and expanding into international markets. Hoa Phat has grown into one of Southeast Asia’s leading steelmakers.

In technology, FPT has become a regional leader, investing heavily in digital transformation, AI, and semiconductors. In consumer goods, Vinamilk and Masan have built competitive regional brands. Meanwhile, Vingroup, Sun Group, and BRG Group have made large-scale investments in infrastructure and real estate, reshaping the economic landscape of multiple regions.

However, Tuan pointed to persistent structural challenges. "The private sector is large but not yet strong; dynamic but not yet deep; significant in contribution but still modest in global value chains," he observed. Nearly 97 per cent of private enterprises are small and medium-sized, many employing fewer than 10 workers – a limited scale that constrains investment in technology and innovation.

The sector also faces imbalances, with a large share of revenue concentrated in finance and real estate, while manufacturing remains underdeveloped. Linkages to global value chains have weakened, labour productivity lags that of state-owned and foreign-invested enterprises, and investment in research and development remains modest. Many firms continue to operate under family-based models with limited transparency and professional governance.

Le Khac Hiep, vice chairman of Vingroup, shared insights into the development of Vietnam’s automotive industry, a sector often seen as a litmus test for industrial capability.

According to Hiep, Vietnam’s auto industry was largely confined to assembly for many years, characterised by low localisation rates and heavy dependence on external supply chains. Domestic firms struggled to participate deeply due to constraints in technology, capital, and market scale. The industry remained structurally incomplete, with consumption demand but limited supporting industries to generate sustainable value.

The emergence of VinFast marked a significant turning point. Rather than following the traditional assembly path, the company invested from the outset in a highly automated manufacturing complex, encompassing research and development, stamping, welding, painting, engine production, and the gradual mastery of core technologies. This approach laid the foundation for a shift from “dependent manufacturing” to “self-reliant production.”

"More importantly, VinFast positioned itself not as a standalone entity but as a central node within a broader production network, connecting and leading a system of suppliers," said Hiep. "This strategy has begun to restructure Vietnam’s automotive industry towards a more integrated domestic value chain."

By 2025, the localisation rate for electric vehicles had reached approximately 60 per cent, with a target of 80 per cent once battery cell production is established domestically in 2026. Mastery of core technologies allows firms to better control value chains, reduce external dependence, and create opportunities for domestic enterprises to participate more deeply.

VinFast’s impact on supporting industries is particularly evident in improving market certainty. Through long-term, large-scale partnerships, VinFast has provided that assurance. With predictable orders, suppliers can confidently invest in machinery, upgrade technology, and expand production, conditions essential for building genuine industrial capacity.

At the same time, participation in VinFast’s global-oriented supply chain requires suppliers to upgrade technical standards, quality management, and sustainability practices. This process helps them meet VinFast’s requirements while enhancing their competitiveness in other international value chains.

Production hubs such as those in Haiphong and Ha Tinh have become new growth poles, attracting labour, capital, and infrastructure investment. On a broader scale, VinFast’s entry into global markets is bringing international standards into domestic supply chains, creating positive pressure for Vietnamese enterprises to upgrade and integrate more deeply into the global economy.

With an expanding market, a clear localisation strategy, and a leading role within its ecosystem, VinFast is contributing to the formation of deeper economic linkages, helping lay the groundwork for Vietnam to gradually position itself more firmly within global value chains.

The offering comprises a maximum of 1,750 bonds at a par value of $200,000 each, with an expected coupon of up to 5.75 per cent per annum and a five-year tenor from the date of issuance. The bonds are expected to be listed on the Vienna Stock Exchange in Austria and will not be offered or listed in Vietnam. Issuance is targeted for the second quarter, subject to market conditions and regulatory approvals.

A hospitality complex operated by Vinpearl. Photo: Vingroup

As of the end of 2025, Vingroup carried total debt of VND338 trillion ($13.3 billion), in which dollar-denominated debt accounted for 19.1 per cent of the total.

Net debt to earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at 2.7 times in 2025, up from 2.3 times in 2024. The EBITDA-to-interest-expense coverage ratio was 3.0 times in 2025, an increase from 2.9 times.

For 2026, Vingroup plans to achieve net revenue of $17.7 billion and net profit after tax of $984.3 million, representing an increase of 35.6 per cent and 125.9 per cent respectively compared to 2025.

VinFast – an electric vehicle manufacturer and a member unit of Vingroup – has set a target of 300,000 electric vehicle deliveries and approximately 1 million electric motorcycle units. The latter represents at least 2.5 times the volume recorded in 2025, with market expansion planned in the United States and Europe.

Real estate developer Vinhomes – a member of the Vingroup ecosystem – plans to drive strong net revenue growth through ongoing large-scale developments and new project launches in Ho Chi Minh City, Danang, and Quang Ninh.

Meanwhile, Vinpearl – a premium hospitality and resort brand within the Vingroup ecosystem – aims to grow revenue through higher room occupancy, expanded on-site services, accelerated meetings and events offerings, and the launch of the Tuyen Quang hospitality complex.

At the group level, Vingroup stated it intends to develop three new business pillars in infrastructure, green energy, and culture, alongside its existing real estate, industrials, and social enterprise segments.

Vingroup merges GSM and Green Future On February 28, Vingroup announced the merger between Green and Smart Mobility JSC and Green Future Trading and Services JSC.

Vingroup launches customer support program amid fuel cost increases The Vietnamese conglomerate introduced financial assistance initiatives for consumers facing higher transportation and energy expenses.

ACV and Vingroup tie up to advance green transition and airport development On March 23, Airports Corporation of Vietnam and Vingroup formally signed a comprehensive MoU to boost green transformation across Vietnam’s airport system through the deployment of clean energy solutions and sustainable mobility initiatives.

The loan agreement, signed last December, lays the foundation for expanded long-term financing to micro, small, and medium-sized enterprises (MSMEs), with a focus on rural areas. On April 13, the two sides held a closing ceremony to mark the successful completion of the Rural MSME Support Programme under Japan International Cooperation Agency's (JICA) Private Sector Investment Finance scheme.

The JICA loan amounts to $50 million. The loan is co-financed with the Asian Development Bank (ADB), which has committed funding of up to $120 million, alongside participation from commercial lenders. In addition, a portion of the ADB financing will be provided through the Canadian Climate and Nature Fund for the Private Sector in Asia, which was established within ADB by the government of Canada.

Under the project framework, the $50 million JICA loan will be channelled through BIDV, with $30 million allocated specifically to MSMEs in rural areas and $20 million designated more broadly.

The scheme will contribute to the UN's Sustainable Development Goals, including Goal 1 (No Poverty), Goal 2 (Zero Hunger), and Goal 17 (Partnerships for the Goals), by supporting rural livelihoods, enhancing financial inclusion, and strengthening international development cooperation.

During the ceremony, stakeholders expressed their expectations that the financing would improve access to finance for MSMEs, particularly those in the agricultural sector, a key domestic industry, thereby contributing to the expansion of agricultural production and increased incomes in Vietnam.

The ceremony marked an important milestone in the initiative and underscored JICA's continued commitment to partnering with Vietnamese financial institutions to support private sector development and long-term economic resilience, particularly in rural and underserved communities.

Vietnam pushes green transition with Japan’s $320 million ODA support On March 18, the Japan International Cooperation Agency Vietnam office and the Ministry of Finance co-organised a signing ceremony for a $320 million green loan programme.

JICA secures GCF funding for Vietnam forest conservation project A funding proposal submitted by the Japan International Cooperation Agency in collaboration with Vietnam has been approved by the Green Climate Fund.

Japan extends ¥50 billion loan for green transformation programme The Japan International Cooperation Agency (JICA) on March 30 signed a ¥50 billion loan agreement with Vietnam to provide official development assistance for its green transformation programme and climate change adaptation.

The 2026 Asia Consumer Study, released on April 13, shows that 70 per cent of Vietnamese consumers hold a positive outlook for the future – one of the highest levels in the region. Only 6 per cent expect their income to decline, the lowest in Asia. The optimism is underpinned by strong economic fundamentals, supported by robust GDP growth over the past year.

Over the next two years, 63 per cent of Vietnamese consumers plan to increase spending on food, while 51 per cent intend to spend more on clothing and 50 per cent on personal care products.

Around 73 per cent of respondents prioritise product quality and brand reputation over price, one of the highest proportions in Asia. This trend is particularly evident among younger, urban, and well-educated consumers.

Vietnamese consumers also show the strongest concern for environmental and sustainability standards in the region, with 58 per cent saying factors such as a brand’s carbon footprint influence their purchasing decisions.

The report highlights that Millennials and Gen Z in urban areas are driving this shift, favouring brands that demonstrate transparency, social responsibility, and a commitment to sustainable practices.

A similar pattern is seen in the luxury segment, where 71 per cent prioritise quality and brand reputation, while half consider sustainability an important factor in purchasing decisions.

Notably, only a small proportion of Vietnamese consumers are motivated by status signalling or peer influence. Just 4 per cent identify as status-driven, the lowest in Asia, while only 10 per cent say their purchasing decisions are influenced by others. Meanwhile, 34 per cent indicate a preference for traditional values and established norms.

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The visit forms part of the Landing Pad Vietnam Fintech and Regtech Immersion Programme 2026, aimed at connecting Australian solution providers with Vietnamese banks and financial institutions. The initiative builds on an MoU signed with the Vietnam Banks Association in 2025, underscoring Australia’s long-term commitment to Vietnam’s financial sector.

Running from April 14-16 in Ho Chi Minh City and Hanoi, the programme offers insights into Vietnam’s regulatory landscape, market opportunities, and banking trends, while showcasing Australian capabilities in fintech and regulatory tech.

A seminar in Ho Chi Minh City, held in collaboration with the Vietnam International Financial Center, focused on advancing the next phase of banking transformation and exploring international partnership opportunities. Key topics included cybersecurity, compliance, risk management, payment infrastructure, and digital assets.

Vietnam is emerging as one of the region’s most dynamic fintech markets, driven by rapid growth in digital payments and increasing adoption of mobile financial services and data-driven banking. Government initiatives, including regulatory sandboxes and plans for international financial centres, are reinforcing this trajectory.

Emma McDonald, senior trade and investment commissioner to Vietnam and Cambodia said, “The aim of this initiative is to facilitate in-market exchanges. We are confident this engagement will generate additional Australia-Vietnam commercial partnerships, contributing to a financial ecosystem that is resilient, trusted and globally connected, embedded with Vietnamese characteristics and Australian technology solutions.”

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Forum outlines pathways to accelerate green transition

On April 14, Nippon Express Vietnam became the first Japanese freight forwarder to obtain an air cargo container freight station (CFS) licence for Quang Minh Logistics Centre in Quang Minh Industrial Park in Hanoi.

Covering 1,000 square metres, the newly established CFS is fully equipped with high-rise racks, security cameras, and lockable secure areas. Air cargo loading and unloading, temporary storage of export-ready cargo, bonded transport procedures and other operations are carried out under in-house management, making cargo control more efficient and customers' logistic flows smoother.

Qualifying for the air cargo CFS licence required establishing a framework capable of performing the full spectrum of operations from air cargo consolidation and packing to bonded transport procedures, significantly enhancing the centre's logistics service capabilities.

With Vietnam enjoying rapid economic growth, congestion has become the norm at Noi Bai International Airport's cargo terminal due to expanding demand for air cargo transport. Against a backdrop of changes in the business environment and moves to optimise global supply chains, the acquisition of this CFS licence helps satisfy customer demands for a faster and more efficient logistics network.

The Quang Minh facility offers excellent access to the economic and commercial hub that is Hanoi, being situated a mere 15-minute drive from Noi Bai. Leveraging both Quang Minh Logistics Centre's strategic location and its CFS functions, Nippon can avoid cargo backlogs at the airport terminal and to ensure timely delivery in accordance with flight schedules. Such agile operations deliver significant convenience and a competitive edge in air cargo services.

Moving forward, Nippon in Vietnam will leverage its status as the only Japanese forwarder with an off-airport CFS facility in Hanoi to develop unique schemes that address region-specific logistics challenges. Pioneering initiatives will also be pursued in the Hanoi area to create new value for customers' supply chains.

Lotte Global Logistics inks MoU with Tan Long Group to enhance agriculture and food logistics Lotte Global Logistics and Tan Long Group signed an MoU on cooperation in agriculture and food logistics on March 23.

Delo Group, VIMC sign deal to develop Russia-Vietnam maritime transport Russia's Delo Group and Vietnam Maritime Corporation signed an MoU on the sidelines of the Vietnam-Russia Business Forum in Moscow on March 24.

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

This is the largest syndicated loan ever recorded for a securities firm in Vietnam and marks the third consecutive year TCBS has set a new benchmark in accessing international capital markets.

The 2026 syndicated facility was arranged by a group of leading international financial institutions, including Cathay United Bank, CTBC Bank, Landesbank Baden-Württemberg, Mizuho Bank, and Taipei Fubon Commercial Bank. The lender base is notably diverse and one of the broadest among comparable transactions.

In addition to the mandated lead arrangers, underwriters and bookrunners, the transaction attracted participation from several international institutions participating in the unsecured facility to a Vietnamese securities firm for the first time.

The facility is funded by 26 institutions across multiple regions, including China, South Korea, Germany, Hong Kong, Singapore, the Middle East, India, Malaysia, and Taiwan. This broad participation underscores TCBS’s expanding credit profile beyond the region, and its ability to meet the stringent standards of global capital markets.

Earlier in February, TCBS also made a strong mark in international markets by signing a long-term convertible loan agreement worth $50 million with DEG, the development finance institution under German development bank KfW. This transaction is considered a landmark transaction, helping to unlock European capital flows into Vietnam’s securities and financial sector.

The proceeds from the $488 million syndicated loan, once disbursed, are expected to enhance TCBS’s margin lending capacity, supporting its sustained market leadership. The additional liquidity will enable the company to navigate market dynamics with greater agility.

Nguyen Tuan Cuong, deputy CEO of TCBS, said, “The successful execution of this syndicated loan is a strong endorsement from international financial institutions of TCBS’s financial strength, governance capabilities, and long-term strategic vision. Over the years, TCBS has established itself as a pioneer in applying technology to financial services, developing a diversified product ecosystem, and building a wealth-tech model in Vietnam. This transaction further reinforces our position as a trend-setting financial institution, not only domestically but increasingly on the international stage.”

The transaction also sets a new benchmark for Vietnamese securities firms in accessing international capital. As Vietnam is set to be upgraded to emerging market status by FTSE Russell in September, unlocking significant global investment inflows, TCBS’s proactive approach in securing large-scale international funding positions the firm ahead of the curve.

500 bond codes issued by TCBS have been paid in full and on time From the beginning of last year to March 2023, about VND113 trillion ($4.79 billion) of bonds and principal due, corresponding to nearly 500 bond codes issued by TCBS, have been paid in full and on time.

Securities profits surge to historic highs, leaving some behind Many securities firms posted record profits in the second quarter of 2025, fuelled by bullish market sentiment, rising liquidity, and a surge in foreign inflows, though some major players lagged the uptrend.

Southeast Asia’s fintech startups draw $839 million in funding Southeast Asia’s fintech startups collectively raised $839 million during the first nine months of 2025, reflecting a slowdown compared to previous years, according to the Southeast Asia FinTech Report released by Tracxn on October 16.

On April 14, Momentum Works released the fourth edition of its E-commerce in Southeast Asia report, offering an in-depth analysis of market size, competitive dynamics, and the structural shifts redefining e-commerce across the region.

The report pointed out that platform e-commerce GMV grew 22.8 per cent on-year in 2025, with Thailand and Malaysia leading at 51.8 per cent and 47.6 per cent on-year growth, respectively.

Vietnam, the Philippines, and Singapore all registered double-digit gains exceeding 20 per cent, while Indonesia remained the largest market (37 per cent share), though growth slowed to 2.2 per cent following Bukalapak’s exit and Tokopedia’s GMV rationalisation.

Southeast Asia is now effectively a three-player market. Shopee, Lazada, and TikTok Shop (including Tokopedia) collectively controlled 98.8 per cent of the region’s platform e-commerce market in 2025. Competition is intensifying at the top, while smaller and single-country players continue to exit or pivot away from marketplace models.

Content commerce is now core infrastructure as it generated an estimated $49.7 billion in GMV, accounting for 32 per cent of platform GMV. Led by TikTok Shop’s rapid rise and Shopee’s increasing investments, content is now a core driver of demand.

The report also estimated that non-platform channels (such as brand.com, multi-brand retailers, social platforms, etc.) contributed about $27.8 billion, bringing Southeast Asia’s total e-commerce GMV to $185.5 billion, with platforms accounting for 85 per cent of the total market.

Another finding is that e-commerce in Southeast Asia has not yet reached its true price floor. Despite intense competition, much of today’s affordability is still driven by subsidies, vouchers, and discounts funded by platforms, sellers, and brands, rather than structurally lower costs, the report noted.

Cross-border players also continue to expand their footprint in Southeast Asia by lowering friction and improving access to overseas supply. While regulations are tightening, larger and more committed players are better positioned to adapt and benefit.​​​​​

Vietnam emerges as Southeast Asia’s cross-border e-commerce hub Vietnam is rapidly emerging as a regional powerhouse in cross-border e-commerce, driven by strategic initiatives from global players and backed by supportive government policies.

Vietnam's retail market tops $269 billion in 2025 amid e-commerce boom Vietnam's retail market recorded a five-year high in revenue, reaching $269 billion in 2025, according to the Vietnam Domestic Market Report 2025 released by the Ministry of Industry and Trade.

Shopee and TikTok Shop account for 8 per cent of Vietnam’s retail market In 2025, transaction value on Shopee and TikTok Shop exceeded $16.3 billion, equivalent to nearly 8 per cent of Vietnam’s total retail market.

Terminal Investment Limited Holding, a member of Swiss shipping and logistics giant MSC, will contribute 46 per cent of the capital to the consortium. Meanwhile, VIMC and Saigon Port hold 36 per cent and 15 per cent, respectively.

Can Gio International Transshipment Port covers 571 hectares, with a total main berth length of 7.5 km. The venture has a designed capacity of 4.8 million. The port is designed with cargo throughput of 4.8 million TEUs by 2030 and 16.9 million TEUs by 2047. In the first phase, the port will feature 2-4 berths capable of handling vessels of up to 250,000 tonnes, with long-term expansion to 13 berths.

According to the requirements set by the municipal people's committee, investors are not permitted to transfer the venture within 10 years from the land allocation. They must disburse at least VND50 trillion ($1.92 billion) in the first 10 years and complete the venture within 20 years. The venture will operate for 50 years.

The investor selection marks a significant step forward in Vietnam’s strategy to upgrade its seaport system. Currently, the majority of Vietnam's international container cargo must be transshipped through regional hubs such as Singapore or Malaysia, leading to higher logistics costs and continued reliance on foreign infrastructure.

Once operational, Can Gio Port is expected to help Vietnam gradually gain greater autonomy in the global supply chain. The port is envisioned as a key gateway linking international shipping routes with the domestic logistics network, particularly in the Southeast region and the Mekong Delta.

Investment policy for Can Gio International Transshipment Port approved Can Gio International Transshipment Port will put Ho Chi Minh City at the forefront along one of the most important shipping routes in the Asia-Pacific region.

HCM City approves 9 billion-USD Can Gio coastal urban development project The Ho Chi Minh City People’s Committee has approved the planning for the Can Gio coastal urban area, which covers an area of 2,870 hectares and is projected to attract nearly 9 billion USD in private investment.

Can Gio coastal tourism area to span 1,357 hectares The Can Gio coastal tourism urban area project will cover 1,357 hectares of land built over an ocean area to be completed by 2031.

At the invitation of Prime Minister Le Minh Hung, Slovakian counterpart Robert Fico paid an official visit to Vietnam on April 12-14, during which both sides issued a joint statement on the establishment of a strategic partnership between Vietnam and Slovakia.

Recognising the growing geopolitical, economic and technological importance of the Indo-Pacific, the two sides acknowledged the value of a stronger partnership between Vietnam and Slovakia in support of regional connectivity, open international trade and a rules-based international order.

Building on 75 years of bilateral relations, the prime ministers agreed to adopt the joint statement on upgrading relations. The strategic partnership aims to elevate bilateral relations to a new level, strengthen existing cooperation mechanisms, and explore new avenues for deepening cooperation, both bilaterally and multilaterally.

According to the joint statement, the two sides identified economic, trade, and investment cooperation as one of the key pillars of bilateral relations. Based on existing bilateral and multilateral economic agreements and the complementary nature of the two economies, the two sides agreed to further deepen economic, trade and investment cooperation, while ensuring an open, fair, transparent, equitable and non-discriminatory business environment in each other's markets.

Both sides reaffirmed their commitment to enhancing the role and effectiveness of the Vietnam–Slovakia Intergovernmental Committee on Economic Cooperation, co-chaired by the Ministry of Industry and Trade of Vietnam and the Ministry of Economy of Slovakia, as a key mechanism for identifying and promoting areas of cooperation and discussing sectors with significant potential for further development.

The two sides also agreed to encourage the establishment of specialised subcommittees under the Intergovernmental Committee to review and assess the implementation of existing agreements and to propose measures to boost trade and investment, with a view to contributing to a more balanced bilateral trade relationship and further strengthening economic cooperation.

Collaborative efforts will also be made to facilitate private investment in each other's markets. This is achieved through relevant activities in both countries and strengthening cooperation in areas of mutual interest, taking into account the respective strengths and needs of both sides, including the automotive industry, electronics, transport, energy, including nuclear energy, green technologies, pharmaceuticals, mechanical engineering, specialised machinery, science and technology, digital transformation, and AI.

Moreover, Vietnam and Slovakia emphasised the importance of an open, fair and transparent trade and investment environment based on international law and rules, and of maximising cooperation opportunities within the broader framework of Vietnam–EU relations.

They reiterated their support for the full and effective implementation of the EU–Vietnam Free Trade Agreement and acknowledged the importance of advancing the ratification of the EU–Vietnam Investment Protection Agreement, with a view to strengthening legal certainty and fostering a predictable and transparent business environment.

The two sides also expressed their readiness to further strengthen economic cooperation and promote stronger trade and business links with partners in the EU and ASEAN, while promoting sustainable fishery trade in compliance with international standards.

Under the strategic partnership, Vietnam and Slovakia also pledge to strengthen political and diplomatic cooperation and defence and security cooperation. This is coupled with boosting practical partnerships in science and technology, education, culture, tourism, labour, agriculture, climate, and healthcare.

Greece seeks to expand economic cooperation with Vietnam Greece is looking to deepen its economic ties with Vietnam by boosting cooperation in key sectors such as transportation, logistics, and agricultural exports.

European Commissioner Síkela to visit Vietnam From March 23 to 25, European Commissioner for International Partnerships Jozef Síkela will visit Hanoi to look at EU investments in Vietnam to create jobs under the Global Gateway.

Vietnam and EU seek to strengthen ties in transport infrastructure and urban development Vietnam and the EU will enhance cooperation in transport infrastructure and sustainable urban development in the future, a meeting has heard.

The report paints a notable picture of the sector: while leading banks have retained their positions, many recorded declines in overall branding, reflecting increased expectations and narrowing differentiation.

In the 2025 rankings, Vietcombank retained the top position for a fourth consecutive year, underlining its strong brand foundation and high level of market trust. MB Bank climbed to second place, highlighting the effectiveness of its technology-driven and digital experience strategy. BIDV, Techcombank, and VietinBank rounded out the top five.

Further down, TPBank moved up from ninth to sixth, while Sacombank and ACB stayed within the top 10.

Compared with 2024, several banks saw notable ranking declines: Techcombank dropped two places, ACB fell from sixth to eighth, and VPBank slipped from eighth to ninth. More broadly, brand health scores across the sector were significantly lower than in the previous year. Vietcombank scored 35 points (down from 42), while BIDV posted 33 points (from 36).

The findings suggest that brand strength is no longer primarily driven by awareness or scale, but increasingly by the ability to translate technology into tangible customer experiences and clearly perceived value.

Brand Image Index

One of the most striking shifts in the 2025 report comes from the Brand Image index. VIB surged from outside the top 10 in 2024 to lead the industry in 2025, with a 32 per cent vote share, indicating a stronger imprint in customers’ minds. VPBank also recorded sharp growth, rising from 10th place with 9 per cent in 2024 to the top 4, with 26 per cent.

After being absent from the top 10 last year, HDBank returned to seventh place, reflecting the impact of more consistent and recognisable brand-building efforts.

In terms of brand awareness and consideration, Agribank stood out by reaching third in awareness and second in consideration, while also re-entering the overall top 10.

For the Brand Love Index, TPBank delivered one of the most notable performances. From being unranked in 2024, it jumped into the top 5 in 2025, rising nine places.

Brand Love Index

Outside the top 10, OCB maintained solid momentum, with a score of 17.6, placing it among the top 15 strongest banking brands in Vietnam. The bank held stable positions across key metrics, including familiarity, value for money, perceived quality, brand love, recommendation, and willingness to pay premium. Notably, OCB climbed five places in brand love.

Among the leading banks, the report also highlighted distinct brand strengths. Vietcombank continued to perform strongly across multiple indicators, from top-of-mind awareness to perceived quality and brand affinity. MB gained traction through its digitalisation strategy and diversified ecosystem, leading among primary banking users. BIDV, meanwhile, was recognised as having the most effective communications in 2025, with 76.8 per cent of customers expressing positive impressions of its advertising.

The Vietnam Banking Brand Health Report research is carried out independently, with no external interference, based on more than 2,000 consumer interviews across the country and historical data accumulated since 2017. The report evaluates brand health across the full customer journey, from initial touchpoints and awareness to usage experience and long-term engagement.

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