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

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and https://www.hkfuliao.com/.

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

Desmond Kuek, Executive Director and CEO of Temasek Trust, and Paschal Donohoe, Managing Director and Chief Knowledge Officer of the World Bank Group, at the MoU signing for a strategic partnership between Temasek Trust and the World Bank Group to advance shared development priorities.

• Convening and knowledge exchange: Bringing together governments, development institutions, businesses, philanthropies, and other partners to deepen collaboration, learning, and partnership development around shared priorities. This includes mutual participation in platforms such as the World Bank Group Philanthropy Forum and the Philanthropy Asia Summit; engaging senior leaders in high-level dialogues; and facilitating dedicated exchanges on World Bank Group missions, including Mission 300 and Water Forward, as well as approaches to co-funding, building coalitions, and developing country compacts.
• Shared knowledge and insights: Connecting philanthropic partners more effectively with World Bank Group platforms, expertise, programmatic support, and institutional knowledge. The collaboration may also facilitate country-level engagement by providing insights into local development challenges, innovations, and opportunities, together with guidance and connections to relevant stakeholders, knowledge, and partnerships. By building shared knowledge and a repository of effective solutions, the parties aim to help translate promising pilots into replicable and scalable models that can advance impact outcomes.
• Coordinating partners and capital towards shared priorities: Identifying capital mobilisation approaches to support larger, more coordinated, mission-aligned partnerships. Temasek Trust and the World Bank Group will also assess how their respective philanthropic networks and partners can be better aligned around common interests, while sharing knowledge on models for deploying and aggregating capital to support development solutions. Any specific financing arrangements or projects would be considered separately and remain subject to each party's mandates, policies, procedures, resources, and approvals.

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

For more information, visit www.temasektrust.org.sg.

The launch of the V-bridge platform. Photo: MST

The event was organised by the Digital Technology and AI Authority under the Ministry of Science and Technology (MST) in collaboration with Vietnam-Australia Scholars and Experts Association (VASEA).

The forum brought together numerous representatives from regulatory bodies, research institutes, universities, and leading technology enterprises from both nations.

In his opening remarks at the forum, Nguyen Khac Lich, general director of the authority, stated, “The organisation of this forum marks a shift from the signing of cooperation agreements to the implementation of concrete activities, focusing on digital technology, AI, semiconductors, and innovation.”

He added that technology cooperation requires the participation of enterprises, research institutes, universities, and experts, alongside investment and market partners. The event provided a platform for these parties to directly discuss needs, showcase capabilities, and identify suitable partners.

Addressing the forum, Deputy Minister of Science and Technology Le Xuan Dinh said that Vietnam identifies science, technology, innovation, and digital transformation as key drivers for enhancing productivity, growth quality, and national competitiveness. In this context, international cooperation plays a pivotal role in enabling enterprises and research and educational institutions to access new knowledge, develop high-quality workers, and strengthen domestic technological capabilities.

Deputy Minister of Science and Technology Le Xuan Dinh. Photo: MST

He explained, "What cannot be measured cannot be improved, nor can it generate new results." To ensure the cooperation yields practical and sustainable outcomes, he proposed that both sides focus on four key areas: project selection based on practical realities; link research and development with human resource training; maximising the effectiveness of the V-Bridge platform; and organising implementation with clear responsibilities and transparent evaluation milestones.

Elaborating on the direction of cooperation, Professor Nghiem Duc Long, president of VASEA, suggested that following the upgrade to a Comprehensive Strategic Partnership, the bilateral relationship needs to shift from a model of traditional cooperation to one of comprehensive integration.

He said, “Integration signifies the unhindered flow of knowledge, talent, and resources between the two countries, alongside the co-creation of new technologies. Prime examples of this effort include the AI-powered Vietnamese language learning platform VietNest and the launch of the V-Bridge technology connector, designed to put the 'triple helix' collaboration model into practice.”

Renee Deschamps, chargé d'affaires of the Australian Embassy in Vietnam, praised the potential of Vietnam's digital economy.

Renee Deschamps, chargé d'affaires of the Australian Embassy in Vietnam. Photo: MST

"Australia regards the digital economy, AI, and semiconductors as top priorities under its Southeast Asia Economic Strategy to 2040," she said. "We are committed to partnering with Vietnam to build robust digital infrastructure and secure cybersecurity, while unlocking opportunities for deep integration between Australian innovative enterprises and the Vietnamese market."

At the forum, the V-bridge platform was launched to support connections between businesses and organisations within the Vietnam-Australia technology ecosystem.

Photo: Mai Huong

In his opening remarks, Nguyen Manh Quyen, Chairman of Hung Yen People’s Committee, noted, “Implementing the policy of the Party Central Committee and Resolution No.202 of the National Assembly on the reorganisation of provincial-level administrative units, the entire natural area and population of the former Hung Yen and Thai Binh provinces have been merged into a new administrative unit named Hung Yen province.”

According to Chairman Quyen, this is a strategic decision by the central government that optimises national resources while creating an integrated development space connecting inland areas with the sea, shaping a new growth pole with significant potential in northern Vietnam.

Following the merger, Hung Yen has a natural area of 2,638 square kilometres, a marine area of approximately 487 sq.km and 104 commune-level administrative units.

With its expanded development space, the adjusted master plan establishes orientations for reorganising economic areas, connecting infrastructure and promoting complementary roles among the northern, central and coastal areas.

Hung Yen has identified rapid and sustainable development as its overarching objective, with modern industry as the main driver, civilised urban development at the centre and sustainable marine economic development as a key pillar.

Science and technology, innovation, digital transformation, green growth and the circular economy are cross-cutting priorities.

By 2030, the province aims to become a dynamic economy achieving double-digit growth, with a modern industrial base, civilised urban areas, a developed marine economy, synchronised infrastructure, and improved living standards.

Hung Yen targets average annual regional GDP growth of 10-11 per cent during 2026-2030, striving to exceed 11 per cent. Regional GDP per person is expected to approach $8,000 by 2030, while regional GDP at current prices is projected to surpass $27.4 billion.

By 2030, the economic structure is expected to comprise agriculture, forestry, and fisheries at 8 per cent; industry and construction at 60 per cent; services at 27.5 per cent; and taxes on products less subsidies at 4.5 per cent.

To achieve these objectives, the master plan organises the province's development space around three economic zones, two development corridors, and seven development axes.

Photo: Mai Huong

Accordingly, the northern growth-driving zone, identified as a gateway to the Hanoi region, will focus on industry, urban development, services and high-tech logistics, capitalising on its connectivity with Hanoi, Bac Ninh, and Haiphong.

The central zone will serve as the province’s administrative, political, cultural, and educational centre, with integrated development of urban areas, services, clean industries, trade, and logistics. Pho Hien urban area is oriented towards becoming a regional centre for administration, culture, education, and services.

The coastal zone is designated as a new strategic growth area, focusing on an integrated marine economy, the energy industry, processing and manufacturing, seaport logistics, coastal urban development and services, as well as ecological and resort tourism.

The two development corridors comprise the Red River ecological, economic and cultural corridor and the industrial, urban and service corridor associated with the expressway network and major transport routes.

The seven development axes are intended to strengthen connectivity within the province and links with Hanoi and other localities across the Red River Delta.

Regarding the urban system, the master plan envisages developing 18 urban areas during 2026-2030, comprising four Grade II urban areas and 14 Grade III urban areas, towards the goal of becoming a centrally governed city by 2030.

After 2030, the province plans to establish nine urban development areas associated with the ‘HungYen30’ 30-minute city model.

With a vision to 2035, Hung Yen aims to become a modern industrial locality meeting Grade I urban criteria. By 2045, it seeks to become a smart, ecological city directly under central government administration, with modern industry and a strongly developed marine economy.

By 2050, the province aims to develop a modern, digitalised and circular economy, moving towards net-zero emissions.

Prime Minister Le Minh Hung. Photo: Mai Huong

Addressing the conference, Prime Minister Le Minh Hung described the event as significant in opening up new development directions and creating fresh momentum for Hung Yen.

"Planning must do more than organise spatial development and allocate resources. It must create growth drivers, guide investment, and pave the way for sustainable development. Good planning is a necessary condition, but effective implementation is the decisive factor," the PM said.

He outlined four development principles: leveraging the province's geoeconomic position and strengthening regional connectivity; organising integrated, multi-centred, and multipolar development space; shifting from a management-oriented mindset to one focused on public service and development facilitation; and placing people at the centre, with culture as the foundation, while ensuring balanced economic, social, and environmental development.

Regarding spatial organisation, PM Hung stated, “Developing three economic zones, two development corridors and strategic development axes does not mean investing equally or distributing resources evenly. Instead, investment must be based on the comparative advantages and functions of each area, focusing on drivers with significant spillover effects.”

The PM also called on central ministries and agencies to coordinate with and support the province in addressing difficulties during implementation. He stated that the government would continue to work alongside local authorities and the business community to improve institutions, enhance the investment and business environment, and mobilise and use development resources effectively.

Chairman Quyen declared that the master plan would only be meaningful if its strategic objectives and vision were translated into tangible infrastructure, projects and substantive growth results.

“The province pledged to build a development-oriented government, take decisive action and work alongside investors to establish a transparent, secure and favourable investment and business environment,” he said.

Hung Yen expands space to attract a new wave of industrial investment Industrial production in Hung Yen rose 15.4 per cent in the first seven months of 2026, prompting the province to expand its industrial parks and clusters and develop new industrial space to meet growing demand.

Hung Yen accelerates infrastructure development Hung Yen is accelerating investment in transport and industry, completing key connectivity routes, expanding production resources, and strengthening new investment flows.

Foreign direct investment expands across Hung Yen industrial zones Manufacturing enterprises from Northeast Asia increased direct foreign investment into northern Vietnam's Hung Yen province to leverage regional industrial infrastructure developments.

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

Announced on October 12, the product streamlines preparation into two steps: coating the ingredients and placing them in the air fryer. Users no longer need to mix the base with water or eggs, or prepare a separate layer of breadcrumbs.

Each 40g packet is portioned for about eight chicken mid-wings, roughly 250g of meat per batch. Whether preparing chicken, fish, or meat for a family meal, users can use the entire packet without weighing ingredients.

Preparation takes only about five minutes. This is especially convenient on days when consumers arrive home hungry but lack the energy to decide what to cook for dinner. They just need to grab ingredients from the fridge, coat them, and pop them in the air fryer. The fried dish is ready to cook.

Air fryers already make frying more convenient. With MAGGI’s simplified coating process, it becomes significantly easier to add a fried chicken, fish, or meat dish to the meal.

Fewer steps do not mean compromising on appeal. The coating remains crucial for creating the perfect outer layer of any fried dish.

MAGGI’s air fryer coating mix combines breadcrumbs, cereal, and cheese powder to create a crispy crunch while keeping the meat inside tender and delicious.

This allows everyday kitchen staples such as chicken breast, boneless chicken thighs, pork belly, basa fish, or snakehead fish to be transformed into appetising fried dishes without the need for complex recipes.

The product comes in two flavours, catering to a wide range of tastes and preferences. The traditional flavour offers a familiar taste that pairs easily with meat and fish dishes, while the rich, savoury cheese flavour provides a new experience for fried dishes.

Simply by switching the flavour of the coating mix, familiar ingredients like chicken or fish can be transformed into a different dish without requiring significant changes to the cooking process.

The product has earned the trust of leading air fryer brands such as Tefal, Lock&Lock, and Philips, offering more options for consumers who enjoy this cooking method.

With two flavour choices and convenient usage, the product enables customers to flexibly adjust menu and make a quick, hassle-free meal on busy days.

Nestlé Vietnam launches meaningful campaign for consumers to welcome Lunar New Year As Lunar New Year is around the corner, Nestlé has kicked off its Trao dieu lanh, Don loc xanh campaign (Giving blessings, welcoming green buds) to inspire the community to do good things to protect the environment.

MAGGI supports Vietnamese cuisine 'The glory of Vietnamese culinary culture' festival took place October 20-22 at the Independence Palace in Ho Chi Minh City. The three-day festival was co-organised by the Ho Chi Minh City Tourism Association, the Saigon Chef’s Guild, and the Vietnam Culinary Conservation, the Research and Development Centre.

Nestlé and Maggi campaign goes from strength to strength A campaign by Vietnam Women's Union, Nestlé Vietnam and the MAGGI brand aims to diversify opportunities to create sustainable livelihoods for women and contribute to women's empowerment.

Among Southeast Asian financial centres, Ho Chi Minh City ranks behind Singapore and Kuala Lumpur but ahead of Bangkok, Jakarta, and Manila. In the fintech category, the city trails Singapore, Kuala Lumpur, and Bangkok while ranking ahead of Jakarta and Manila.

However, according to the Strategy and General Affairs Department (SGAD) of Vietnam's International Financial Centre in Ho Chi Minh City (VIFC-HCMC), the GFCI reflects emerging momentum and growing international recognition, rather than proof that the city has become a fully-fledged financial centre.

The report lists only the top 15 centres in each pillar, and Ho Chi Minh City does not feature in any of these lists. The city is also absent from the top 15 in all eight industry-specific sub-indices. Its scores and rankings by pillar are available through FS Clubroom, a members-only platform.

“The 17-place jump appears to reflect momentum in the financial sector and growing recognition. The main constraint lies in the business environment pillar, particularly the credibility of anti-money laundering efforts,” the department’s report said.

Among the five competitiveness pillars assessed, financial sector development has been identified by the SGAD of VIFC-HCMC as one of the key catalysts for Ho Chi Minh City’s standing.

A notable new development is FTSE Russell’s upgrade of Vietnam from frontier market to secondary emerging market status, effective from September 21, Vietnam becomes the 24th country in the FTSE Emerging Index, with stocks to be included in phases extending into 2027.

Meanwhile, the market data used in GFCI 40 was updated only to July. As a result, the impact of the market upgrade is not reflected in this edition and may become more evident in subsequent assessments.

Fintech also recorded an improvement, with Ho Chi Minh City climbing 12 places to 71^st. The depth of financial products is beginning to broaden, with VIFC-HCMC and Vietjet announcing the Asia-Pacific Aviation Finance Centre, while the Law on Digital Technology Industry, which took effect in January 2026, provides a regulatory framework for the digital asset sector.

However, alongside these new drivers of financial sector development, analysis by SGAD also highlights fundamental areas that require further improvement to strengthen the city’s competitiveness.

The business environment has been identified as the main issue. In terms of the legal framework, Resolution No.222/2025/QH15 and Decree No.323/2025, provide the foundation for the VIFC. VIFC-HCMC was launched on February 11, and remains at an early stage of development. The decree provides for a review of VIFC’s operations after five years, with the possibility of restructuring, indicating that the model is still evolving.

Another issue directly affecting the competitiveness of a financial centre is anti-money laundering. Vietnam was placed on the Financial Action Task Force’s (FATF) list of jurisdictions under increased monitoring in June 2023 and remained on the list following the plenary meeting on June 19, 2026.

On taxation, the GFCI highlights that clarity and stability are often more important than low tax rates. As the Organisation for Economic Co-operation and Development’s global minimum tax narrows the traditional tax advantages available to investors, this is an important consideration in designing incentive policies for VIFC-HCMC.

In the human capital pillar, SGAD considers Vietnam to have a solid foundation, but insufficient depth. According to the 2025 Global Innovation Index, Vietnam ranked 44^th out of 139 economies, placing 50th for innovation inputs and 37^th for innovation outputs. In English proficiency, Vietnam scored 500 in the 2025 EF English Proficiency Index, ranking 64^th out of 123 countries and regions, while Ho Chi Minh City scored 508.

The GFCI identifies specialist talent, fast-track visa procedures and English proficiency as factors that differentiate financial centres. However, the current analysis has not identified city-specific data on the size of Ho Chi Minh City’s financial professional workforce. This is an important data gap to note.

In terms of infrastructure, the SGAD considers Ho Chi Minh City to be in the process of catching up, with the benefits of many major projects expected to become more evident mainly during 2028–2030.

Digital infrastructure is also particularly important, as it is the top policy priority identified in the GFCI survey. VIFC-HCMC has announced a $2 billion cooperation agreement with G42 to develop smart urban data infrastructure. However, the analysis notes that this remains an announced cooperation agreement rather than operational capacity already in place.

Another positive signal is that Ho Chi Minh City received 34 mentions as a centre expected to become more important over the next two to three years, ranking 11^th among the 15 centres listed by the GFCI.

According to the SGAD, several milestones warrant continued monitoring, including the FATF plenary meeting in October 2026; capital flows under the phased inclusion of Vietnamese stocks in FTSE indices; the number of members and operating licences issued by VIFC-HCMC; the opening of Long Thanh International Airport and connecting metro lines; and reforms to visa procedures and efforts to attract international talent.

Over the longer term, the GFCI identifies investment in digital infrastructure, attracting FinTech and digital asset businesses, strengthening anti-money laundering and financial crime prevention frameworks, and deepening capital markets as key policy priorities for the next five years.

Photo: Le Toan

VIFC-HCMC and ACCA prioritise global-standard finance talent The development of an international financial centre is placing greater emphasis on finance professionals equipped to meet global standards, as the Vietnam International Financial Centre in Ho Chi Minh City moves towards full operation and deeper engagement with international capital

VIFC-HCMC facilitates $325 million in international capital for Vietnam’s education development A prominent private education provider has partnered with leading international banking group Standard Chartered to mobilise up to $325 million for major education development projects in Vietnam, channelled through the Vietnam International Financial Centre in Ho Chi Minh City.

The latest ranking reflects KH EMBA's continued excellence across key performance indicators, including career progression, alumni outcomes, international student body, and the strength of its global network. The achievement reinforces the program's unique position at the intersection of East and West, equipping senior executives with the strategic insight and leadership capabilities required to navigate an increasingly complex global business environment.

The ranking also underscores the exceptional strength of the KH EMBA alumni community. RankedNo. 1 globally in the Alumni Network category, the program continues to cultivate a powerful international community of senior executives, entrepreneurs and industry leaders. Spanning geographies and sectors, this lifelong network facilitates business opportunities, strategic partnerships, professional exchange and career advancement.

Further validating the program's transformative career impact, KH EMBA graduates reported an average "Salary Today" of USD 607,684 (over HKD 4.7 million) and an average 69% salary increase following graduation. The program also achieved an outstanding overall satisfaction score of 9.73 out of 10, reflecting alumni confidence in the quality of the learning experience, the achievement of career goals and the enduring value of the global KH EMBA network.

Prof. Frederik ANSEEL, Dean of HKUST Business School, said, "Thirteen No. 1 rankings over nearly two decades demonstrate the consistency with which this program has delivered value to senior executives around the world. Our participants are accomplished leaders, and the depth of experience they bring to the classroom is a defining part of the learning journey. They engage with world-class faculty who challenge conventional thinking, translate cutting-edge research into practical insights, and help them navigate the complex decisions they face as leaders. Equally important are the lifelong connections formed through the program, extending into a global alumni community where members continue to mentor, support and learn from one another long after graduation."

Prof. Francesca CORNELLI, Dean of Kellogg School of Management, noted, "For more than two decades, Kellogg School of Management and HKUST Business School have fostered a close and fruitful partnership, bringing together outstanding faculty from around the world to deliver a world-class global management education. We will continue to deepen our collaboration to nurture forward-looking and responsible leaders who create long-term value for Hong Kong, Asia, and the global community."

The Financial Times ranking evaluates the world's leading EMBA programmes through a rigorous assessment framework covering alumni career outcomes, faculty research excellence, diversity, international exposure, and other key indicators of programme quality and institutional impact. The KH EMBA's position at the top of the global ranking reflects its longstanding commitment to academic excellence, transformative leadership development, outstanding career outcomes, and the cultivation of a truly global network of senior executives.

The full FT Executive MBA Ranking 2026 is available at: https://rankings.ft.com/rankings/3048/emba-2026

According to the Non-local Higher and Professional Education (Regulation) Ordinance, the Kellogg-HKUST EMBA program is an exempted course. It is a matter of discretion for individual employers to recognize any qualification to which this course may lead.

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

What does the Thanh Giong Cup mean to you and to Vietnam's international business community?

I was deeply inspired by the story of Thanh Giong because, at its core, it is a story about growth. A young boy grows into a giant to take on the challenges facing his country. But what makes the story particularly meaningful is that he does not grow on his own. The villagers feed and support him, and after victory, he simply rides away without waiting for a reward.

I believe there are three important lessons for business leaders. The first is ambition. Just as Vietnam has set ambitious growth targets, businesses need bold aspirations, supported by agility and the courage to act.

The second is building the right foundations. Agility without capability is just noise. Leaders must invest in people, technology, and innovation, including AI, to build the capabilities needed for long-term competitiveness.

The third is growth that benefits others. Just as the villagers helped Thanh Giong grow, large companies have a responsibility to strengthen the surrounding ecosystems, including suppliers, farmers, and small and medium-sized enterprises (SMEs).

This is particularly relevant to foreign-invested enterprises. Vietnam’s Resolution No.10-NQ/TW reinforces the importance of improving the quality and effectiveness of foreign direct investment (FDI), including its contribution to domestic businesses and the wider economy. The role of FDI is not simply to bring capital into the country, but also to transfer knowledge, develop talent, and build capabilities that remain in Vietnam and serve Vietnam’s long-term development.

For Nestlé, this philosophy is reflected in our nearly three decades of investment in the country. Since establishing our presence in Vietnam in 1995, we have invested nearly $904 million, developed four factories and two distribution centres, and created more than 2,300 direct jobs. Our contribution also extends through our network of suppliers, distributors, and farming communities. Ultimately, the measure of success is how much a business grows along with how much value it creates for the country in which it operates.

Through the NESCAFÉ Plan, Nestlé Vietnam has supported more than 23,000 farming households in the Central Highlands in adopting regenerative agriculture, improving incomes while ensuring a stable and traceable coffee supply. Photo: Nestlé Vietnam

How have you applied the Thanh Giong spirit of rapid, strong, and resilient growth in leading Nestlé Vietnam?

For me, it starts with the concept of Creating Shared Value. The idea is simple: when a business succeeds, the surrounding stakeholders should benefit as well. Over the past 30 years, Nestlé Vietnam has worked with farmers, suppliers, and SMEs to ensure that our growth creates wider economic and social value.

Our coffee value chain is a good example. Through the NESCAFÉ Plan, launched in Vietnam in 2011, we have supported more than 23,000 farming households and distributed over 100 million high-yielding, disease-resistant, and climate-resilient coffee plantlets to farmers. Our programmes provide technical assistance in sustainable farming and coffee replanting, helping farmers improve productivity, coffee quality, and livelihoods while contributing to a more resilient supply chain. Across the Central Highlands, our agricultural support activities have reached more than 492,000 farmer participations over time.

My leadership philosophy is to be purpose-led, people-focused, and performance-driven. Purpose gives us direction, people make transformation possible, and performance ensures that our efforts deliver measurable results. These principles are complementary, not competing priorities.

Between 2021 and 2025, Nestlé Vietnam’s revenue nearly doubled over five years. During the same period, our total investment rose from approximately $729 million to $904 million. These results reflect our commitment to building a business that can grow competitively while investing in people, strengthening local supply chains, and creating value for the communities in which we operate.

Nestlé offers hundreds of career opportunities to students annually through its management trainee and Nesternship programmes. Photo: Nestlé Vietnam

What drove Nestlé Vietnam’s near-doubling of revenue during the period from 2021 to 2025?

There were three key drivers. First, we chose to invest when many businesses were cutting back during the COVID-19 pandemic. Over the past five years, we have invested around $500 million in capital expenditure, including expanding our coffee manufacturing capacity. This decision strengthened our production capabilities and enabled us to respond to growing demand. Our coffee exports have more than tripled over the past four years.

Second, we focused on regenerative agriculture to secure a reliable supply of high-quality coffee over the long term. By working directly with farmers to improve cultivation practices and use resources more efficiently, we are helping to strengthen both the quality of our raw materials and the resilience of the agricultural communities that supply them. For us, sustainability begins well before production starts in the factory.

Third, we expanded our export markets to 44 countries, including demanding markets such as the EU, the United States, Japan, South Korea, and Australia. Vietnam is increasingly becoming an important regional manufacturing and supply hub for Nestlé, particularly in coffee and food products. Our strategy is to increase the value generated here in Vietnam, rather than simply exporting raw materials.

The results demonstrate the impact of this approach. Revenue grew by nearly 95 per cent between 2021 and 2025, while our investment commitments continued to increase. In 2025 alone, revenue rose by more than 40 per cent on-year. This growth was achieved despite challenges such as supply chain disruptions and rising input costs, particularly for coffee.

The lesson is that resilience comes from investing ahead of demand, continuously upgrading capabilities, and connecting local production to global markets. Growth becomes more sustainable when it is supported by strong domestic supply chains and long-term partnerships.

Photo: Nestlé Vietnam

How can foreign investment support Vietnam’s double-digit growth ambitions while advancing sustainability?

It is a myth that sustainability and growth do not go together. In my view, they complement each other. Sustainability can improve efficiency, reduce costs, and strengthen long-term competitiveness. Sustainable development often begins with operational excellence. By optimising the use of water, energy, and raw materials while minimising waste, companies can improve resource efficiency and build more resilient operations. Far from being merely a compliance requirement, sustainability serves as a strategic lever to reduce costs, enhance productivity, and mitigate long-term business risks.

The second contribution FDI can make is to develop talent and strengthen the business ecosystem. Foreign-invested enterprises can work with one another as well as with Vietnamese SMEs to help them improve their technology, management practices, productivity, and ability to meet international standards. This is how investment can generate benefits beyond the operations of an individual company.

At Nestlé Vietnam, our sustainability strategy extends across the value chain. We work with farmers to promote regenerative agriculture and invest in manufacturing capabilities. As a co-founder of the Packaging Recycling Organization Vietnam, Nestlé Vietnam also supports collective efforts to develop a more circular packaging economy. These initiatives are part of a broader ambition to contribute to a regenerative food system and the Nestlé Group’s net-zero emissions target by 2050.

Finally, FDI brings capital, expertise, technology, and access to international markets. When these strengths are combined with local knowledge and Vietnamese enterprises, they can help domestic suppliers move up the value chain, improve productivity, and participate more deeply in global supply chains.

Vietnam’s growth ambitions and sustainability goals should therefore be pursued together. For foreign-invested enterprises, the opportunity is not merely to expand their own businesses, but to help build a stronger, more innovative, and more sustainable economy. That is the kind of growth that creates lasting value for Vietnam.

For Goswami, the past offers a foundation, not a blueprint for the future.

That idea runs through her approach to transformation. Growth is not simply about adding technology, launching more products or following what other banks are doing. It starts with purpose, sharp choices about where to compete, and an understanding of what customers now value. Technology, culture and governance then have to work together to deliver it.

Across the conversation, three ideas recur: purpose, relevance, and trust.

Richa Goswami, member of the Board of Directors at Eximbank, sees purpose, relevance and trust as central to the bank’s next chapter. Photo: Eximbank

Rediscovering purpose, not reinventing it

Goswami sees a clue to Eximbank’s future in the bank’s own beginnings.

Established as the Export-Import Bank to serve Vietnam’s importers, exporters and businesses as the country entered a new era of growth, Eximbank was built around a practical purpose. Goswami points to stories of employees staying up late, answering phones, sending faxes and doing whatever it took to support customers.

To her, that was customer-centricity before the term entered the management lexicon. The opportunity now is not to recreate those old ways of working, but to recover the intent behind them.

“What pulls me most toward this moment is Eximbank’s own history,” she said. “That is customer-centricity. That’s the DNA this bank was actually built on.”

Purpose, in this sense, is more than a brand statement. It provides continuity through change: a way to decide what should remain constant even as products, technology, operating models and customer expectations evolve.

Eximbank’s original customers were businesses participating in Vietnam’s growth story. Today, the context, technology and expectations are different. But the underlying question remains: how can the bank be genuinely useful to the people and businesses it exists to serve?

For Goswami, that is where the next phase begins. Eximbank’s original customer-first spirit is not something to recreate, but to reinterpret for a new generation.

Relevance has to be earned again

History, however, is not a strategy. What worked in the past does not stay relevant simply because it once worked well.

“The truth is our customers have changed,” she said

The observation is simple; the implications are not. Banks have traditionally built products and then found ways to sell them. Goswami argues for reversing that order: understand how customers live, where friction sits in their financial lives, what they value and what they now consider normal - then decide what the bank should build. As she puts it: “People don’t pay for products, they pay for experiences.”

That shift matters particularly in Vietnam, where a large younger generation expects services to be personalised, relevant and immediate. Goswami sees an opportunity for a fast-growing market to learn from digital disruptors elsewhere and leapfrog rather than follow the same path step by step.

Her broader experience has also reinforced a practical instinct: treat constraints as a source of focus, challenges as opportunities, and transformation as a discipline of choosing what matters most.

For Eximbank, that means translating customer insight into a small number of choices the organisation can execute exceptionally well. Relevance is not created by trying to be everything to everyone. Goswami argues for what she calls “ruthless prioritisation”: know which customers you want to serve, identify the experiences that matter most to them, and focus execution on the few priorities that can genuinely move the needle.

“In life, less is more,” she said.

It is depth over breadth: solve meaningful pain points, create genuine reasons for customers to choose the bank and resist confusing activity with progress.

Trust is earned through experience, not messaging.

If purpose explains why an institution matters and relevance determines whether it continues to matter, trust determines whether the relationship can endure. In banking, Goswami sees trust as particularly personal - and ultimately more valuable than any single financial metric.

Money is not an abstract product. It represents work, sacrifice, plans and responsibilities. When customers place it with a financial institution, they are entrusting that institution with something deeply connected to their lives.

For Goswami, customer trust begins with a simple test: do people feel listened to, understood and confident that the bank will act on what matters to them? In her view, financial ratios may matter to bankers, but customer trust is the asset that makes a relationship sustainable.

That trust is accumulated through repeated experiences: whether everyday banking works, whether the bank listens and responds, whether customers feel understood at important moments, and whether the institution creates value rather than simply selling another product.

That is why she rejects the idea that customer experience is merely a layer of service or communication around a product-led organisation.

Her framing is more human: banking is a personal business, and institutions have to treat people with empathy, care and respect. That changes how transformation should be judged.

Some interactions should become almost effortless. Goswami recalls seeing account opening at a traditional bank take weeks while digital challengers could complete it in minutes. Fixing that kind of friction is not simply a technology project: it can require changes across operations, compliance, risk and legacy systems. The point is not digitalisation for its own sake, but making everyday banking fast, secure and dependable.

Other moments demand something different. Goswami recalls how recently widowed customers sometimes contacted a bank with little understanding of their finances. In those moments, the right response was not simply a more efficient process, but people trained to listen with empathy before moving to financial solutions. Technology can remove friction; human judgement and care still matter when life becomes complicated.

The choice, then, is not digital versus human. It is about using each where it creates the right experience for the customer.

Technology should follow strategy

This is why Goswami is wary of equating transformation with technology. AI, digital platforms and new capabilities create enormous possibilities. But buying technology before deciding which customer problem to solve risks turning transformation into a race for novelty.

“Technology is an enabler, not the starting point. The tail can’t wag the dog,” she said.

The starting point is strategy. On this, Goswami is direct: transformation only creates value when the strategy starts with the customer, identifies the problems worth solving and makes clear choices about where the bank intends to differentiate.

Richa Goswami believes transformation should start with strategy and customer needs, with technology serving as an enabler. Photo: Eximbank

Governance creates discipline. Technology adds speed and capability. Execution turns choices into outcomes. But discipline cannot compensate for choosing the wrong target. As Goswami argues, everything else creates value only after the organisation is clear about what it is trying to solve for the customer.

The same logic applies to data. Banks hold vast amounts of customer information. The more important question, Goswami argues, is what value customers receive in return.

Personal financial management tools offer one example. When data helps customers understand their spending, saving or financial behaviour and make better decisions, information becomes useful. That can build a stronger relationship than one based only on rates or promotions.

Transformation starts inside the bank, too

There is another side to customer trust that customers may never see. An organisation’s ability to deliver externally depends heavily on the environment it creates for its own people.

A transformation strategy can look compelling on paper and still fail if employees are not supported, empowered or equipped to execute it. Culture, in that sense, is not a soft issue; it is an execution issue.

Goswami’s point is practical: employees need the confidence and support to act in the customer’s interest. Small acts of judgement and empathy can create disproportionate customer delight when people are trusted to make them.

At board level, that means keeping strategy anchored in customer outcomes, staying connected to the customer and employee reality behind management reports, and ensuring that technology and investment choices serve the strategy rather than drive it.

The principle is simple: customer signals have to travel into decision-making. Complaints, feedback and everyday friction are useful only if the organisation acts on them.

As Goswami puts it, transformation “starts and ends with the customer”. Understand the customer first; strategy follows, execution brings it to life, and governance keeps the organisation on track.

Employee experience is part of the same system. People who feel supported and empowered are better placed to create the experience the bank wants customers to have. Strategy, culture, people, technology and governance all matter - but they have to pull in the same direction.

Eximbank employees, reflecting the role of people and culture in the bank’s transformation. Photo: Eximbank

From transformation to rebuilding

Goswami’s ambition for Eximbank goes beyond improving individual processes. Over the next five to ten years, she wants Eximbank to become a brand Vietnamese customers genuinely love, not simply use - a bank they trust, find convenient and feel truly understands their needs.

Her ambition extends beyond Vietnam. She wants Eximbank’s transformation to become a case others study alongside global banking benchmarks: evidence that a long-established institution can rebuild around customers and compete at a world-class standard.

The idea of rebuilding matters. Transformation does not require an institution to erase its history and start again. The stronger opportunity may be to identify what made it meaningful in the first place, then give that purpose a new expression for a changed world.

For Eximbank, Goswami sees that foundation in a history of serving businesses and customers pursuing growth. What comes next will require different tools, new capabilities and different ways of working - and the discipline to focus on the few things that can truly move the needle.

But the underlying purpose does not have to disappear in the process.

That may ultimately define Eximbank’s next chapter: preserve the purpose that gives the bank meaning, change what no longer creates relevance, and earn trust through the experiences customers have every day.

On the afternoon of September 22, the Dialogue Between Youth Leaders from Jiangxi and International Friendship Partners at Different Levels 2026 was held. More than 100 international youth leaders from countries including Nigeria, Bangladesh, Bulgaria, and Spain, along with young representatives from Jiangxi, attended the event. The participants engaged in discussions on topics including "openness and win-win cooperation," "skills and innovation," and "mutual learning among civilizations." The event also featured a "My Story with Jiangxi" sharing session, where Chinese and international youth shared their experiences, observations, and reflections.

On the evening of September 22, the China-International Youth Friendship Gala was held. The event was jointly hosted by the Jiangxi Provincial People's Association for Friendship with Foreign Countries, the Jiangxi Youth Federation, the China Vocational Education Association, Jiangxi, and the Jiangxi Federation of Industry and Commerce, and was organized by Jiangxi Youth Vocational College and the Jiangxi International Communication Center.

More than 160 young representatives from China and around the world gathered for dialogue and exchanges. The event featured presentations promoting Chinese and international cities, as well as corporate presentations, providing a platform for communication and economic and trade cooperation between China and other countries. Young people from China and around the world also performed traditional artistic programs showcasing their distinctive cultural traditions. Through music, dance, and other art forms, they celebrated the richness of cultural diversity and promoted exchanges and mutual learning among civilizations.

At the China-International Youth Friendship Gala, outstanding works from the inaugural Jiangxi International Friendship Cities Children's Art Exhibition were on display.

The exhibition features artworks by children from Jiangxi and its international friendship cities. The young creators depict harmony among all living things through their innocent and imaginative brushstrokes, drawing Chinese and international youth to stop and admire the works.

YouTube Video: https://youtu.be/4Ra8W9PL-ro?si=a4H8yhOgRarkCiwk

According to the country's revised Power Plan VIII, the total power capacity in the province by 2030 will be over 12,963 MW, with an additional 3,892 MW added in the 2031-2035 period.

The planned power structure includes coal-fired thermal power, gas-fired power, wind power, solar power, hydropower, and other energy types.

According to Quang Tri Department of Industry and Trade, the province currently has 40 power plants in commercial operation with a total capacity of over 1,464 MW; in addition, there are 1,524 rooftop solar power systems with a total capacity of over 148 MW. Electricity production in the province was estimated at nearly 4 billion kWh in 2025.

If it includes completed projects that are in commercial operation and undergoing pilot runs, the total capacity reaches 3,016.2 MW, equivalent to only about 23 per cent of the total planned capacity by 2030.

According to the department’s report, as of early October, there are currently six projects under construction, but all are facing land clearance issues; 27 projects have selected investors but have not yet commenced construction.

Furthermore, eight projects are undergoing adjustments to their investment policies, and four projects have received investment approval but have not yet selected investors. There are 26 projects currently under review for investment approval and 21 projects without submitted proposals.

Quang Tri People's Committee has instructed relevant departments and agencies to review long-delayed or partially implemented power projects, reassess investors' capabilities, and take appropriate action.

Chairman of Quang Tri People's Committee Bui Hoang Phuong said Quang Tri aims to become a national energy hub and would prioritise investors with strong financial resources and proven project implementation capabilities.

Quang Tri Department of Finance has been tasked with assessing investor capabilities, while specialised departments and local authorities must strengthen oversight throughout project implementation to prevent lax management after licensing.

Meanwhile, Quang Tri Department of Industry and Trade must coordinate with the Ministry of Industry and Trade to finalise power planning and accelerate investment in transmission infrastructure.

At a meeting on October 1, Secretary of Quang Tri Party Committee Vuong Quoc Tuan called for a comprehensive review of stalled projects to prevent the waste of land and other resources. He instructed authorities to categorise projects, establish detailed implementation plans linked to monthly disbursement schedules, and monitor progress weekly.

"We must tighten investor selection criteria, prioritising strategic investors capable of developing wider business ecosystems and attracting investment into other sectors. Investment proposal dossiers must be finalised in October, or by early November at the latest," he said.

Alongside stricter investor scrutiny, Quang Tri is working to address infrastructure and land clearance obstructions, particularly in electricity transmission, while exploring opportunities to combine clean energy development with data centres.

AMC Robotics builds out Bac Ninh plant to scale AI-powered robotics AMC Robotics has provided an update on the buildout of its manufacturing facility in Bac Ninh, operated through its wholly owned subsidiary AMCV Co., Ltd., as it targets Phase 1 production by the end of 2026.

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

Consultation workshop refines Vietnam's clean hydrogen strategy The National Innovation Centre and the Global Green Growth Institute have held a consultation workshop on a draft report on Vietnam's clean hydrogen market.

From loans to women’s economic empowerment Policy credit is expanding women’s access to finance, from starting businesses and developing production to creating jobs, thereby enabling women to become more economically independent and take greater control of their livelihoods and incomes.

The event brought together a line-up of sports icons, including NBA legend Chris Bosh – Basketball Hall of Fame Inductee and two-time NBA champion – together with Sands Global Ambassador Sir David Beckham, China women's basketball national team player Zhang Ziyu, and China short track speed skating Olympic gold medalist Wang Meng, alongside members of Macau Special Olympics (MSO), families from Macao's social service organisations, executives from Las Vegas Sands and Sands China, and Sands Cares Ambassadors. A total of around 200 participants gathered at NBA HOUSE to enjoy a series of basketball-themed carnival experiences and family-friendly activities, fostering meaningful exchanges among community stakeholders while promoting the inclusive power of sports.

The Impact Week fully demonstrates Sands China's longstanding commitment to serving the Macao community through its Sands Cares spirit. By harnessing the synergies from this sports tourism event, the initiative not only unites strengths across various sectors of society to support Macao's diversified development, but also extends its benefits into the local community to foster social inclusion.

The concluding event of the Impact Week began with a basketball clinic led by an NBA coach, who guided a group of MSO members through basketball skills training. Through demonstrations and personalized instruction, she helped participants enhance their basketball skills while encouraging them to challenge themselves, building self-confidence and fostering a spirit of inclusion in the process. In addition, NBA legend Chris Bosh, Zhang Ziyu and Wang Meng joined the event, engaging with MSO members on-site, adding to the warm and uplifting atmosphere. The MSO athletes exuded great enthusiasm throughout the session, underscoring the power of sport to break down barriers and foster inclusion.

Patrick Dumont, chairman of the board and chief executive officer of Las Vegas Sands Corp., and chairman of the board and non-executive director of Sands China Ltd., said: "Over the past few days, we have not only welcomed basketball fans from near and far to Macao through this world-class event, but also extended its impact beyond the arena through a wide range of community outreach initiatives during the Impact Week, including Greater Bay Area youth exchanges, a school visit, community engagement activities, and a basketball carnival. These initiatives enabled more Macao residents to experience the enthusiasm of basketball and the positive values it inspires.

"We firmly believe that world-class sporting events do more than enhance Macao's international appeal. They create meaningful opportunities for youth development, cultural exchange, and community participation, demonstrating the power of sport to connect communities and bring people together, while ensuring the benefits of major events are shared across the community. Looking ahead, Sands China will continue to fully support the policy direction of the Macao SAR Government and further strengthen the synergy between tourism and sports. Through these efforts, we aim to further contribute to Macao's economic diversification."

Following his participation last year, Sands Global Ambassador Sir David Beckham once again joined this year's Impact Week, where he engaged with families from Macao's social service organisations, including the Macau Tung Sin Tong Charitable Society, the Macao Federation of Trade Unions, the General Union of Neighbourhood Associations of Macau, and The Women's General Association of Macau. Alongside families of Sands China team members and Sands Cares Ambassadors, they took part in family-friendly activities, sharing joy and laughter together.

During the event, Sands Cares Ambassadors accompanied families from local social service organisations to explore NBA HOUSE, where they enjoyed a range of interactive attractions and experiences. Participants also received goodie bags assembled by NBA players, executives from Las Vegas Sands and Sands China, and Sands Cares Ambassadors, extending care and warm wishes to the wider community.

The "NBA Cares x Sands Cares Community Impact Week 2026" spanned five consecutive days, Oct. 7-11, featuring a diverse programme of activities focused on youth development, healthy living and community inclusion. Current NBA players and legends engaged with communities across Macao, with the initiative extending the impact of the NBA sporting event into the community and enabling more Macao residents to experience the positive energy and excitement generated by the world-class basketball event.

"NBA Cares x Sands Cares Community Impact Week 2026" is part of Sands Cares, the global corporate citizenship programme of Sands China's parent company. As an important stakeholder in the Macao community, Sands China has actively fulfilled its corporate social responsibility for more than two decades. Through the programme, the company strives to connect with and serve the community, give back to society, and work alongside different sectors to build a more vibrant and inclusive Macao community.

For high resolution photos, please visit:

https://it-ezshare.sands.com.mo/exweb/share/c8ffbcd4-9b3e-4280-a99b-36cd64e1f440

For more information, please visit www.sandschina.com.

Rugged Computing Solutions Provider

Financial Strength & Governance: Listed and Well Governed

Emdoor Information's financial performance reflects the durability of its business model. Listed on China's A-share main board in 2023, the company reported 2025 revenue of RMB 4.583 billion (approximately USD 640 million), up 44.15% year over year. This growth is driven by disciplined governance and sustained innovation: R&D staff account for over 40% of the workforce, and cumulative R&D investment over the past five years reached RMB 964 million, a compound annual growth rate of 15.9%. As a publicly listed company with transparent reporting, Emdoor Information offers industrial customers and channel partners the governance stability needed for long-term cooperation.

Integrated Manufacturing & Quality: Own Lines, 7.8M Units

Emdoor Information owns its self-built Emdoor Building, which includes corporate offices and a 20,000-square-meter intelligent manufacturing base. The base has four production floors, 15 integrated assembly and testing lines, and an annual capacity of 7.8 million units. Co-locating manufacturing and R&D within the headquarters enables rapid design validation and faster time-to-market. The facility holds ISO five-system certification and uses advanced automation, including AI-powered visual inspection and Manufacturing Execution Systems (MES) for full-process traceability.

The Emdoor Building also houses a reliability testing base backed by tens of millions of RMB in investment, with dedicated labs for waterproofing, drop testing, environmental simulation, and mechanical durability. All rugged tablets, laptops, and handheld terminals undergo rigorous validation against IP ratings and MIL-STD-810 standards, ensuring reliable operation under extreme field conditions.

Supply Chain Resilience: Steady Supply, Controlled Costs

Emdoor Information's supply chain is anchored by long term partnerships with global semiconductor and technology leaders, including Intel, Qualcomm, and Rockchip. These relationships, recognized by honors such as Intel Premium Partner and Microsoft ODM Strategic Champion, provide early access to platform level technical resources and prioritized supply allocation.

The company centralizes component procurement through its group supply chain management center. With annual procurement in the hundreds of millions of RMB, this approach optimizes hardware Bill of Materials (BOM) costs while maintaining tier one supplier quality. To mitigate volatility, especially in memory and storage, Emdoor maintains strategic bulk inventory and dynamic safety stock across critical materials. This discipline is supported by a rolling finished goods inventory valued at RMB 120 million, enabling delivery of standard configurations in one to three days and customized units in seven to thirty days. As a result, the company ensures stable pricing, controlled cost fluctuations, and protection of customer project margins.

Full Stack R&D & Product Innovation: 100 Models, 5 Platforms, 3 OS

Emdoor Information offers a broad product portfolio: rugged tablets and laptops, rugged handhelds, vehicle mounted computers, and industrial panel PCs from 4 to 21.5 inches. It supports five platforms, Intel, AMD, Qualcomm, MediaTek, and Rockchip, across Windows, Android, and Linux. With nearly 100 models in active production, the company matches precise configurations to industrial scenarios such as quality inspection, intelligent patrol, and edge computing.

These platforms are often specified among the best rugged tablet, laptop, vehicle mount tablet, and industrial panel PC solutions for mission critical operations. A key strength is full stack internal development, covering industrial design, structural engineering, hardware architecture, software integration, and validation testing. All products carry international certifications including CCC, CE, FCC, RoHS, GMS, and UN38.3, plus specialized certifications for hazardous environments and automotive deployments.

On software, devices ship with pre-installed productivity tools such as physical key remapping, kiosk mode, and granular system controls. The integrated Mobile Device Management (MDM) platform enables fleet wide deployment, batch configuration, and remote control. Open SDK and API access for modules like barcode scanning facilitates rapid secondary development and enterprise integration, eliminating the need to build adapter frameworks from scratch. Beyond standard configurations, Emdoor provides rugged devices customization across hardware, software, and structural redesign for specialized operational needs.

Lifecycle Service Excellence: Worldwide Reach, Lasting Alliances

Recognizing that enterprise and industrial computing deployments often operate on lifecycles of five to ten years, Emdoor Information has built a service architecture for long term reliability. It provides repair services in Hong Kong. Technical support is available through a dedicated hotline, official social media, email, and an online support system with full lifecycle traceability from issue submission to resolution.

The company offers structured maintenance training to help customer engineering teams manage devices autonomously. It also operates a continuous feedback mechanism with after sales follow up and annual satisfaction surveys. Insights from frontline customers are integrated into product development, keeping device capabilities and service delivery aligned with field needs. For channel and distribution partners, Emdoor provides market development support including marketing collateral, agent training, industry salons, and trade show facilitation. Sales enablement includes project registration, territorial protection, and flexible inventory allocation, creating a full spectrum collaboration framework from pre sales consultation to long term after sales engagement.

Conclusion

Backed by financial strength & governance, integrated manufacturing & quality, supply chain resilience, full-stack R&D & product innovation and lifecycle service excellence, Emdoor Information has built a global partner network across multiple continents and earned recognition from customers in industrial automation, logistics, transportation, and field service. "Our growth reflects not only market demand but also the strength of our vertically integrated model, from manufacturing and supply chain to R&D and lifecycle services," said a company spokesperson. Looking ahead, Emdoor Information remains committed to deepening its rugged computing expertise, optimizing product performance and service delivery, and expanding worldwide. Its vision is to become a leading global provider of rugged computing solutions, delivering reliable, mission critical devices for the most demanding environments.

Under the MoU, the two ministries agreed to strengthen cooperation in areas related to knowledge, skills, and expertise in financial services, particularly in training and the development of financial services and activities.

The agreement also aims to build knowledge and provide thought leadership on emerging issues in financial services affecting both parties, including, but not limited to, sustainable finance, financial technology (fintech), investment funds, capital markets, banking, and insurance.

Cooperation may take several forms, including exchanging information on relevant trends in financial activities and products, as well as the laws and regulations governing the financial sector.

The two sides may organise seminars and training courses in Vietnam, primarily for executives of financial institutions, officials from the Ministry of Finance and the State Bank of Vietnam, and other beneficiaries selected by agreement in limited numbers.

Similar seminars and training courses may be held in Luxembourg, primarily for executives of Vietnamese financial institutions, officials from the Ministry of Finance and the State Bank of Vietnam, and other beneficiaries mutually agreed upon by the two parties.

Other forms of cooperation include online training courses on mutually agreed topics; assistance in identifying and accessing experts to conduct studies on areas of cooperation in response to specific needs at different stages; and exploring the possibility of joint activities to boost investment between Vietnam and Luxembourg.

The signing of the MoU establishes a basis for the two countries to strengthen experience-sharing, connect resources, and implement practical cooperation initiatives in the financial sector, contributing to closer bilateral economic and financial ties.

Photo: Duc Minh

Speaking at the signing ceremony, Minister Tuan said, "Relations between Vietnam and Luxembourg had made significant breakthroughs in recent years, underpinned by increasingly strengthened political and diplomatic ties, particularly following visits to Luxembourg by Vietnam’s prime minister and to Vietnam by Luxembourg’s prime minister."

He expressed his pleasure and appreciation for the efforts of the relevant agencies on both sides in working towards the signing of the MoU, which he said would provide a solid foundation for future cooperation.

Vietnam particularly hopes that Luxembourg will leverage its strengths to support capital market development and attract investment funds. As Vietnam focuses on achieving annual economic growth of 10 per cent or higher over the next decade, the need to mobilise resources for development investment is substantial.

“These are among Luxembourg’s outstanding strengths, particularly its ability to pull in international investment funds. We are also keen to develop international financial centres in Danang and Ho Chi Minh City, with the ambition of becoming a regional and global hub for green financial transactions,” Minister Tuan said.

Minister Roth said the country had considerable strengths, with investment funds managing assets worth up to €9 trillion ($10.07 trillion) and a leading green financial exchange.

“We stand ready to provide support and share our experience in fund management regulatory frameworks, green finance development, and creating opportunities to connect Vietnam’s financial market with leading financial institutions in Europe,” he said.

Minister Tuan expressed agreement with the proposed priorities and initiatives put forward to deepen collaboration in financial services, focusing on helping Vietnam improve its institutional and regulatory frameworks, and supporting human resource training.

At the bilateral meeting following the signing ceremony, the two ministers discussed the economic and financial situations of their respective countries, as well as policy.

Minister Roth shared Luxembourg’s experience in maintaining fiscal discipline, managing public debt, and preserving its high credit rating. He also discussed several European Union financial policy directions, including issues considered by the Economic and Financial Affairs Council and the Eurogroup.

The two sides agreed to continue strengthening links in capital markets and encouraging Luxembourg’s investment funds and financial institutions to increase their interest in, and long-term investment in, Vietnam.

They also discussed the potential to enhance cooperation between the Vietnam Stock Exchange and the Luxembourg Stock Exchange, particularly in the listing and disclosure of information relating to green financial instruments. This would enable Luxembourg to leverage its position as a major European financial centre while expanding connections with Vietnam and the wider ASEAN market.

In digital transformation and sustainable finance, the two ministers expressed interest in sharing experience in risk-based supervision, regulatory sandboxes for fintech, the EU’s regulatory framework for crypto-assets, and the application of AI in financial market management and supervision.

Regarding the development of international financial centres in Vietnam, Minister Tuan called on Luxembourg to share its experience in establishing legal frameworks and developing financial products and services, including investment funds, asset management, and green bonds. He also proposed support for human resource training and stronger links with Luxembourg’s green finance ecosystem.

Vietnam called on Luxembourg to continue facilitating connections between its financial institutions and investors and the Vietnamese market, helping engage international financial resources to support the country’s socioeconomic development.

Minister Tuan called on Luxembourg to continue playing an active role in EU mechanisms and supporting efforts to encourage the remaining EU Member States to complete the ratification of the EU-Vietnam Investment Protection Agreement at an early date. This would help establish a favourable legal foundation for expanding investment and economic cooperation between Vietnam and the EU.

Vietnam seeks stronger trade, investment ties with Luxembourg Vietnamese Ambassador to Belgium and Luxembourg Nguyen Van Thao has paid a visit to Luxembourg during which he met with officials from a number of local ministries, organisations and corporations to seek stronger economic cooperation between the two countries.

EU and Germany finance support for Vietnam on forestry conservation The Ministry of Agriculture and Environment, the European Union, and Germany on August 7, launched the “EU-Vietnam Forestry Support Programme,” which will contribute to the conservation, restoration and sustainable management of Vietnam’s natural forests and advance climate‑smart, inclusive forest‑based value chains.

EVFTA is a meaningful increase in both volume and quality The EU-Vietnam Free Trade Agreement (EVFTA) has now been in force for six years. VIR’s Bich Ngoc talked with Salvatore Banco, head of Ho Chi Minh City & South China at D’Andrea & Partners, about the progress made with the major trade deal.

At the meeting, Minister Tuan expressed his appreciation for the long-standing and effective cooperation between Vietnam’s Ministry of Finance and Fitch Ratings.

Providing an overview of Vietnam’s macroeconomic outlook, the minister noted the country's target of annual GDP growth at least 10 per cent. To achieve this, Vietnam estimates that capital mobilisation across the economy will need to reach approximately 40 per cent of GDP, with the capital mobilisation ratio expected to increase by around 2.5 times. At the same time, the government is determined to improve capital efficiency, aiming to reduce the incremental capital-output ratio from 6.4 to approximately 4.5-4.8.

"These objectives would create substantial scope and opportunities for cooperation, not only for the government but also for Vietnam’s business community, in accessing international sources of capital," the minister said.

Thanking the minister for his warm reception, Linnell noted that Vietnam was among the few countries worldwide to have maintained a strong and rapid growth trajectory.

Linnell said Fitch Ratings currently provided credit ratings for between 17 and 19 major organisations and businesses in Vietnam, describing the country as a market with significant potential in Southeast Asia. Against this backdrop, Fitch Ratings was carefully considering the timing of officially opening a representative office in Vietnam.

"In discussions with major investment funds across Asia and the Asia-Pacific region, Vietnam consistently attracted particular attention. International investors highly regarded the country’s positive macroeconomic growth story, strong shifts in foreign direct investment (FDI) flows, and promising investment market outlook," he said.

Expressing confidence in Vietnam’s future, Linnell said that although the country’s current rating outlook remained stable, there were solid grounds for Vietnam to make more progress.

Photo: Duc Minh

Concurring with Fitch Ratings, Minister Tuan said international financial market confidence in Vietnam was clearly growing. Recently, Japan’s credit rating agency JCR upgraded Vietnam to investment grade, while FTSE Russell had also delivered highly positive assessments of the Vietnamese capital market.

During recent meetings in New York, many international financial investors expressed interest in exploring the possibility of Vietnam issuing international bonds.

"Vietnam was carefully preparing the necessary conditions, particularly by enhancing the capacity of key projects to absorb capital, with a view to optimising costs and improving the efficiency of resource utilisation," the minister said.

He expressed his hope that Fitch Ratings would continue to work closely with Vietnam and provide candid assessments of the country’s strengths and areas requiring improvement, helping Vietnam soon enhance its sovereign credit rating.

Agreeing with the MoF’s direction, Linnell expressed confidence that Vietnam’s next government bond issuance on international markets, including the US market, would attract a positive response from investors.

Minister Tuan expressed his expectation that cooperation between the two sides would become more substantive. He voiced his hope of receiving an invitation to attend the official opening ceremony of Fitch Ratings’ representative office in Vietnam.

Bank margins to narrow on tighter liquidity Vietnam’s banking system liquidity is expected to stay tight in the near term on economic risks and keen competition, pressuring lending margins and profitability, according to a report released by Fitch Ratings on April 1.

Vietnam reaffirms macroeconomic stability as Fitch Ratings conducts review On May 19, at the headquarters of Vietnam’s Ministry of Finance (MoF), Deputy Minister Tran Quoc Phuong held a working session with a delegation of experts from Fitch Ratings, led by George Xu, director and lead Sovereign Analyst for Vietnam.

Fitch assigns first-ever credit rating to HDBank Fitch Ratings assigned its first-ever credit rating to HDBank, placing the Ho Chi Minh City-listed lender among the highest-rated Vietnamese banks and recognising its strong financial profile.

According to the announcement on October 11, Nam A Bank ranks among the top-performing Vietnamese banks in the ranking alongside MB Bank, VPBank, and others. The move marks a great stride for the bank given that the financial and banking sector is emphasising governance capabilities, operational efficiency, and resilience in the face of market volatility.

Performance ranking of the 50 largest publicly listed banks in Southeast Asia

Date for the 12 months ended December 31, 2025

Note: NC = no change in ranking; NR = not ranked in the previous period; ▼ = drop in ranking compared to the previous period.

Outstanding liquidity, operational efficiency, and profitability

One notable indicator is that Nam A Bank’s liquid assets accounted for 48.14 per cent of total assets, leading the top 10 banks based on the provided data. This figure is significantly higher than the group average of 25.97 per cent, reflecting the bank's prudent risk management strategy and robust liquidity buffer.

By maintaining a high proportion of liquid assets, Nam A Bank not only demonstrates superior resilience to unexpected fluctuations in the money market, but also establishes a solid foundation to enhance the capacity to withstand macroeconomic shocks. Leveraging this robust liquidity foundation, the bank can manage its funding resources, stand ready to meet all credit demand, and create a safe margin to expand its balance sheet efficiently and sustainably over the long term.

In addition, Nam A Bank posts the cost-to-income (CIR) ratio of 32.95 per cent, lower than the group average of 43.59 per cent. A low CIR ratio reflects that the bank controls costs relatively effectively in relation to the income generated, thereby contributing to enhancing its operational efficiency.

Regarding profitability, Nam A Bank’s return on average equity reached 19.66 per cent, higher than the regional average of 13 per cent. This indicator demonstrates that the bank generates a higher return on equity than the benchmark used for comparison.

Asset quality remains under tight control, with a non-performing loan (NPL) ratio of 2.18 per cent, lower than the regional average of 2.51 per cent. Maintaining an NPL ratio below this threshold is a positive factor when assessing credit quality and risk management, thereby enhancing the reputation and safety of the bank's lending operations.

A new milestone in the journey to enhance competitiveness

The recognition stands as a testament to the management capabilities and strategic vision of Nam A Bank’s leadership in optimising resources, maintaining rigorous risk management, and enhancing operational efficiency. At the same time, this result reflects the concerted efforts and dedication of the entire Nam A Bank workforce throughout a 34-year journey of establishing its unique identity.

Over the past decade, Nam A Bank has continuously achieved sustainable growth in both financial scale and management capacity.

In 2015, Nam A Bank’s total assets stood at just over $1.35 billion, with a pre-tax profit of $9.73 million. By September 30, 2026, the bank’s total assets had approached the $17.95 billion mark, an increase of approximately 13-fold compared to 2015.

In the first nine months of 2026, Nam A Bank posted the profit before tax (PBT) of $180.8 million, a 25 per cent increase compared to the same period in 2025. The bank achieved nearly 80 per cent of its PBT, an increase of approximately 18.65 times compared to 2015.

Nam A Bank currently operates nearly 350 points, including 148 traditional branches and nearly 200 OneBank automated digital transaction points, optimising the transaction experience for millions of customers nationwide.

In the stock market, NAB shares began trading on Unlisted Public Company Market (UPCoM) in 2020 before officially listing on the HSX in 2024. With the transition from UPCoM to HSX, the bank needs to meet higher requirements regarding information disclosure, corporate governance, and responsibilities towards shareholders and investors.

Photo: Nam A Bank

Nam A Bank is a pioneer in adopting rigorous international standards such as International Financial Reporting Standards and Basel III. The bank is finalising the implementation of the advanced Basel II framework. By the end of September 2026, Nam A Bank completed its compliance evaluation for the Capital Adequacy Ratio (CAR) under Circular 14/2025/TT-NHNN with a CAR of 11.3 per cent, exceeding the minimum requirement of 8 per cent.

Nam A Bank has also left a mark in attracting foreign capital through its partnerships with international financial institutions, including IFC, ADB, BlueOrchard, SIFEM, responsAbility, Proparco, FMO, Symbiotics, and numerous other institutions.

These partnerships have helped the bank to diversify medium- and long-term funding sources while bolstering capital resources dedicated to trade finance, supply chain finance, small and medium-sized enterprises, green finance, and inclusive finance.

The assessment results from S&P Global Market Intelligence not only elevate Nam A Bank’s brand reputation on the international financial stage but also reinforce a solid foundation for the bank to embark on a new growth cycle. The bank is committed to delivering exceptional and sustainable value to customers, shareholders, and strategic partners.

Nam A Bank successfully raises $30 million in international funding from Proparco Nam A Bank has signed a $30 million credit agreement with Proparco, the development finance institution of the French Development Agency.

Nam A Bank receives $60 million loan from FMO Nam A Bank has completed a green and inclusive lending facility agreement to receive a $60 million loan from Dutch development bank FMO.

Nam A Bank delivers strong breakthrough in 2026 Nam A Bank on October 2 announced it nine-month 2026 business results with impressive growth figures.

The launch comes as financing needs continue to rise. The World Bank’s Vietnam Country Climate and Development Report, published in 2022, estimated that Vietnam would require an additional $368 billion in investment through 2040 to pursue a climate-resilient and net-zero development pathway. Of this, approximately $114 billion was estimated to be needed for decarbonisation.

These figures underline the scale of the challenge facing policymakers, financial institutions and businesses. The question is no longer simply how to mobilise more capital, but how to ensure that financing reaches viable projects and that measurable emissions reductions can generate economic value.

Vietnam’s banking sector has continued to expand its green lending portfolio. According to figures reported by the State Bank of Vietnam (SBV) on March 27, outstanding green credit reached nearly $30 billion at the end of 2025, accounting for approximately 4.19 per cent of total outstanding credit. Green credit grew by 14.62 per cent in 2025, following growth of 9.5 per cent in 2024.

Pham Thi Thanh Tung, deputy head of the SBV’s Credit Department for Economic Sectors, highlighted the need for a consistent framework to classify green activities.

“The absence of a national green taxonomy had made it more difficult for credit institutions to identify eligible projects and develop appropriate lending policies. A common classification framework would provide a clearer basis for project assessment and help banks allocate financing more effectively. Such consistency would also support the development of financial products linked to measurable environmental outcomes,” she added.

The latest figures demonstrate progress, but green credit still represents a relatively small share of the banking system’s overall lending.

The carbon market could help bridge part of this financing gap by assigning economic value to verified emissions reductions. Businesses may benefit from lower energy consumption, reduced exposure to emissions-compliance costs or additional revenue from selling eligible carbon credits.

However, potential carbon revenue should not automatically be treated as a reliable source of project cash flow. Before credits can support investment decisions, emissions reductions must be measured against credible baselines, independently verified and issued under applicable rules. Clear ownership rights, transparent trading procedures and reliable settlement arrangements are equally important.

At the launch of Vietnam’s domestic carbon exchange on June 29, State Securities Commission (SSC) chairwoman Vu Thi Chan Phuong explained that establishing the exchange was only the starting point.

“What is more important is to build and develop a carbon market that operates in a stable, transparent, efficient, and sustainable manner,” stated Phuong. She also called for effective market supervision, transparent access for participants and continued improvements to the regulatory framework.

“These priorities are relevant to building investor confidence and ensuring that carbon trading develops within a reliable market infrastructure,” she added.

Her remarks underscore the importance of market integrity and effective supervision. For investors, the existence of a trading platform is not sufficient on its own; confidence also depends on the quality of the underlying carbon assets, the transparency of transactions and the consistency of regulatory oversight.

The timing of financing presents another challenge. Businesses need capital for project preparation, equipment procurement and technology upgrades well before emissions reductions can be verified and converted into tradable credits. Carbon revenue may arrive only after verification, issuance or the completion of a sale.

This gap creates opportunities for appropriately structured bridge financing, guarantees and blended finance arrangements. Such mechanisms can distribute risks among project developers, lenders, investors and public-sector institutions while projects establish a record of verified environmental performance.

For banks, carbon revenues should be assessed separately from cash flow generated by core business operations. Credit assessments need to consider the likelihood of credit issuance, potential price volatility, verification costs and contractual commitments. Carbon credits should not be treated as guaranteed collateral or a substitute for sustainable operating cash flow.

A similar approach applies to capital markets. Comparable emissions data, consistent disclosure and independent verification can help investors assess whether projected environmental benefits are credible and whether the associated financial returns justify the risks.

Singapore offers a regional reference point for integrating carbon pricing with regulation. Its carbon tax reached approximately $35 per tonne of CO₂ equivalent in 2026, with a target range of $39 to $62 per tonne by 2030. Eligible international carbon credits can be used to offset up to 5 per cent of taxable emissions, subject to regulatory requirements.

For Vietnam, the broader lesson is that pricing mechanisms, quality standards and financial infrastructure need to develop together. The domestic exchange can provide a trading mechanism, but reliable emissions data and predictable rules will determine how effectively carbon value can influence decisions.

Workshop advances low-carbon innovation in Vietnam’s cement sector A workshop was held in Hanoi on August 27 with a view to support industrial decarbonisation of Vietnam's cement sector.

VIFC steps up focus on talent and green finance Vietnam’s International Financial Centre is moving towards a new phase of development, with international standards, finance talent, green finance, and regulatory capacity emerging as key requirements for turning the country’s dual-city model into functioning markets.

From carbon value to greener capital Vietnam’s emerging carbon market is opening another potential source of value for green projects. Nguyen Thi Thu Ha, deputy head for the Steering Committee for Environmental, Social, and Governance at Agribank, analyses the broader shift of the role of carbon pricing.

His appointment reflects Citi’s commitment to strengthening research, a vital activity that supports clients and drives growth across the firm’s markets, banking, and services businesses.

Michael Zezas - new global head of research at Citi. Image courtesy of Citi

Zezas brings broad leadership experience across asset classes, regions and market cycles, together with a strong understanding of how high-quality insights create value for clients and the firm.

As markets and client expectations evolve, Citi will continue to invest in its Research platform, attract leading talent and expand the value it delivers.

Under Zezas' leadership, Citi will build its capabilities, including through digitisation and automation, enhancing how it develops, delivers and commercialises insights and helping ensure research reaches clients in a timely, relevant and seamlessly integrated way.

“Michael's appointment reflects our commitment to investing in a world-class Research franchise,” said David Livingstone, chief client officer, Citi.

“His deep market expertise, global leadership experience and client-focused approach make him exceptionally well positioned to lead the business. As our clients continue to navigate capital markets, we will keep investing in top talent, strengthening our capabilities, leveraging new technologies and delivering timely, differentiated insights that help clients make informed decisions.”

Citi Research regularly publishes analysis on Vietnam’s economic outlook, including the country’s exposure to global developments and its role in regional and global trade. The research gives clients insights to support their understanding of Vietnam’s evolving economic and market environment.

Citi Foundation launches fourth Global Innovation Challenge The Citi Foundation has launched its fourth Global Innovation Challenge to help equip young people with skills for an economy increasingly shaped by AI.

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

Citi and HDBank sign MoU to expand banking cooperation Citi and HDBank have signed an MoU to expand cooperation across a broad range of banking and financial services.

Citi's e for education campaign supports disadvantaged youth through vocational training Disadvantaged young people in Vietnam are gaining access to vocational training and employment opportunities through Citi’s e for education (e4e) campaign, which raised $6.7 million globally in 2025.

Throughout his career, he has contributed to business growth, expanded access to innovative prevention solutions, and led strategic transformation initiatives across the pharmaceutical sector.

Lucas Steinberg – head of Vaccines and country lead of Sanofi-Aventis Vietnam. Photo: Sanofi

Throughout his career, he has contributed to business growth, expanded access to innovative prevention solutions and led strategic transformation initiatives across the pharmaceutical sector.

Coming from a family with a strong connection to the medical field, Lucas developed an early passion for healthcare and has pursued a career driven by the ambition to create positive and sustainable impact for communities.

During his years at Sanofi, he has gained diverse experience spanning market development, strategic planning, people leadership, and commercial operations, contributing to bringing innovative treatment and prevention solutions to people across different markets.

Lucas takes on his new leadership role in Vietnam at a pivotal time for the country’s healthcare sector. Major government priorities aimed at improving the quality of healthcare are creating new opportunities across both treatment and prevention.

The shift from a focus on ‘treating disease’ towards a more comprehensive approach to healthcare and proactive disease prevention is helping to reduce the burden of disease while supporting the development of a more sustainable, modern and people-centric healthcare system.

At the same time, national priorities around science, technology and innovation are creating strong momentum for the development of Vietnam’s healthcare sector. These policies are expected to encourage research, manufacturing and the adoption of advanced biomedical technologies, while strengthening Vietnam’s long-term capabilities and self-reliance in healthcare.

Sanofi and VNVC announce a Joint Declaration on the localisation of vaccine production during state-level visit of General Secretary and President To Lam to France. Photo: Sanofi

Commenting on his appointment, Lucas Steinberg said, “It is a great honour to lead the Sanofi vaccines team, particularly at a time when Vietnam’s healthcare sector is entering a period of significant opportunity and transformation. The opportunity to lead a talented team, with an innovative portfolio and committed strategic partners in a fast-growing market like Vietnam is highly motivating for me.”

“Above all, our mission to protect the health of millions of people across generations continues to be a strong source of inspiration for me,” he noted.

With nearly 75 years of presence in Vietnam, Sanofi is a strong example of the longstanding cooperation between Vietnam and France in healthcare. Over the decades, the company has not only brought innovative treatment solutions to millions of patients, but has also contributed to public health programmes, supported the development of healthcare professionals and promoted more equitable access to scientific advances.

Lucas Steinberg, representing Sanofi, welcomed Deputy Minister of Health Do Xuan Tuyen and Sanofi’s partner VNVC on a visit to Sanofi’s manufacturing facility in France. Photo: Sanofi

In disease prevention, Sanofi continues to work closely with health authorities, healthcare professionals and partners to support efforts to prevent vaccine-preventable diseases and strengthen the capabilities of healthcare professionals. Alongside expanding access to innovative vaccine solutions, Sanofi is actively pursuing collaboration in research, technology investment and the development of local manufacturing capabilities. These efforts are expected to contribute to the development of Vietnam’s biotechnology sector, strengthen healthcare self-reliance and support the country’s long-term health security.

Sanofi-Aventis Vietnam joins efforts to reduce plastic waste Sanofi-Aventis Vietnam on June 17 entered a cooperation agreement with FPT Long Chau to implement the Insulin Pen Sustainability Pilot Project, aiming at reducing plastic waste and creating a solution to properly dispose of used insulin pens in Vietnam.

Ministry of Health and Sanofi-Aventis Vietnam sign MoU The Vietnam Administration of Disease Prevention and Sanofi-Aventis Vietnam Co., Ltd. signed an MoU on May 27 to cooperatively strengthen Vietnam’s healthcare capacity and expand public education on disease prevention, with a focus on nationwide life-course immunisation drives.

Sanofi brings world’s first modular concept manufacturing facility to Singapore Sanofi announced on December 4 the inauguration of its state-of-the-art manufacturing facility, Modulus, in Singapore, marking a significant milestone in its commitment to delivering innovative healthcare solutions globally.

MoH and Sanofi partner to advance lifelong vaccination nationwide The Vietnam Administration of Disease Prevention and Sanofi-Aventis Vietnam signed an MoU on May 27, marking a new step forward in efforts to prevent and control diseases and improve the health of the Vietnamese people.

Advancing Smart Heated Clothing with Three Core Upgrades

Traditional heated garments often rely on rigid wire heating elements that may contribute to uneven heating experiences, a stiff internal feel, and laundering limitations. Wulcea addresses these challenges by integrating proprietary GrapheneNano™ technology across its smart outerwear line.

This innovation delivers three key upgrades designed to enhance comfort, performance, and durability in heated apparel:

• Flexible graphene heating elements deliver broader, more consistent warmth across key heating zones.
• Far-infrared heating technology creates gentle, sun-like warmth for everyday winter comfort.
• Flexible graphene heating elements are tested for durability and flexibility to support reliable long-term performance.

Enhanced Heating Performance and Certified Safety Standards

Every jacket in the line features 3-second rapid heating with three easily adjustable temperature settings for customized comfort. Powered by a high-capacity 18,400mAh portable fast-charging battery pack, the system provides up to 10 hours of continuous heat on the low setting, making it ideal for full-day outdoor activities and long commutes. Safety remains a central priority in Wulcea's product development. The jackets operate on a low-voltage 12V system equipped with NTC intelligent thermal control, which automatically halts heating when internal temperatures exceed 131°F (55°C). Engineered to meet applicable safety standards, the collection carries UL, FCC, and CE certifications for electrical and electromagnetic safety, alongside RoHS environmental compliance and UN38.3 battery transport safety protocols. Designed for different winter lifestyles, Wulcea's heated clothing collection includes hardshell jackets for outdoor activities and changing weather conditions, softshell styles for daily commuting, and heated vests for additional layering warmth. Across the collection, durable SBS zippers and hidden interior heating buttons provide functional convenience while maintaining a clean, understated design.

Tailored Models for Diverse Lifestyle Scenarios

Wulcea designed its flagship models to align with specific daily scenarios, user preferences, and winter lifestyle needs:

Men's Classic Graphene Heated Jacket (Hardshell): Engineered as a rugged protective layer for outdoor professionals, winter campers, ice fishing enthusiasts, and early-morning commuters. It combines a durable hardshell exterior with a soft insulated lining, featuring six targeted heat zones across the back neck, upper back, both lower waist areas, and front pocket areas. Whether clearing snowy driveways, waiting at icy transit stops, or spending long hours on outdoor job sites, slipping hands into the heated pockets offers quick warmth. Available in sizes S–5XL in Army Green, Black, Hunting Camo, Navy, and Dark Camo.

Women's Ski Heated Jacket (Color-Blocked): Blending alpine performance with modern urban styling for skiers, winter travelers, and daily city wear. Designed with a focus on key areas where many users seek additional warmth, including the arms and neck, six heating zones are strategically placed across the back neck, upper back, both upper arms, and front pocket areas. Whether carving down snowy ski slopes, enjoying outdoor holiday festivals, or walking through chilly downtown streets, it helps deliver targeted warmth while supporting comfortable movement in cold conditions. Available in sizes S–3XL in White, Pink red, Black, and Gray.

Making Advanced Heated Clothing More Accessible

By optimizing production processes and supply chain efficiencies, Wulcea helps make graphene-heated clothing more accessible to everyday consumers. Having served more than one million users globally, Wulcea continues to expand its presence in the smart apparel market, helping people stay active, warm, and comfortable wherever winter takes them.

In his remarks, Liu Fujian said that the global computing power market is experiencing rapid growth, and intelligent construction is becoming a key capability supporting the upgrading of computing power infrastructure. CCIEE will fully leverage its whole-chain service advantages, strengthen industrial ecosystem collaboration, and combine its professional strengths to promote deep integration of the innovation chain and industrial chain. It will deepen technological innovation cooperation, increase resource investment, and work with partners to advance the iterative upgrading of modular construction technologies. It will also seize opportunities in the Southeast Asian market, continue to cultivate key markets, and promote the upgrading of data center construction methods toward industrialization, intelligence, and green development, so as to jointly build a new, open, collaborative, green, and efficient ecosystem for digital infrastructure.

At the forum, guests held in-depth discussions on topics such as intelligent construction of data centers, modular rapid delivery, green computing power and liquid cooling infrastructure, and localized practices in Southeast Asia, sharing cutting-edge views and practical experience. Delegates agreed that Southeast Asia has become a core growth pole for global data center construction. Intelligent construction technologies driven by digitalization, modularization, and smart solutions are profoundly changing the development and construction models of data centers. Promoting standards alignment and mutual recognition, green power cooperation, and industrial collaboration has become a common mission for the entire industry. Taking this forum as a new starting point, all parties will work together to bring data center intelligent construction to new levels and achieve new breakthroughs.

Leveraging Hong Kong's role as a global trading hub, Carku met face-to-face with longstanding partners and international buyers at its booth, together witnessing a milestone moment as Carku wins Global Sources Innovation Award for CARKU 400W PB-113 Portable Power Station at Global Sources Consumer Electronics Show.

Showcase Spotlight: CARKU PB-113 Redefines All-in-One Portable Power

Anchored by the award-winning PB-113, Carku's energy storage lineup took center stage with a comprehensive range of models across diverse capacities.

Building on its deep manufacturing expertise and flexible OEM/ODM capabilities, Carku showcased a full lineup of AC-powered energy solutions engineered for outdoor camping and emergency applications, delivering highly customizable options for global brand partners.

400W AC Output: Power for Every Scenario

Equipped with continuous 400W AC output, PB-113 effortlessly supports daily electronics. It translates multi-scenario energy needs into a single, compact solution for off-grid travel support.

Space-Saving, All-in-One Versatility

Weighing just 5 kg, PB-113 saves up to 50% trunk space compared to traditional power stations. Equipped with smart jumper clamps featuring 10-stage safety protection, self-reliant drivers can safely jump-start dead batteries instantly with a single button.

Built to Last: 3,000+ Cycle LiFePO4

Powered by premium LiFePO4 cells engineered for 3,000+ cycles, PB-113 maximizes energy density and thermal stability. Coupled with advanced BMS hardware, it provides real-time operating protection to deliver a dependable energy experience.

Driving the Future of Multi-Scenario Power

Safety is our non-negotiable foundation," said Carku leadership. "Winning this Innovation Award validates our approach: integrating emergency jump-starting and energy storage into an automotive-grade ecosystem for both roadside assistance and off-grid living.

This multi-functional design directly hits market demand in Asia-Pacific, where disaster readiness and evolving grids drive off-grid power adoption. To accelerate regional rollout, Carku is executing its compliance roadmap—marked by its newly secured PSE certification in Japan—to deliver safe, dependable energy across the region.

Photo: Amata

ITS operates in the fields of industrial automation and engineering solutions, specialising in factory control and monitoring systems, high-tech equipment, and automation solutions for industrial manufacturing applications.

Through its technical expertise and commitment to innovation, the company has established a strong reputation in the market by delivering practical solutions that help improve operational efficiency for customers across Vietnam.

The facility is scheduled to commence operations in July 2027, representing an important milestone in ITS's strategy to expand its manufacturing capacity and meet the growing market demand for industrial technology and automation solutions.

Amata City Long Thanh. Photo: Amata

Located in Dong Nai city, Amata City Long Thanh benefits from excellent connectivity to southern Vietnam's key economic hubs through an integrated transportation network of expressways, international seaports, and the future Long Thanh International Airport, the centrepiece of the region's emerging airport city development model.

Leveraging these advantages, Amata City Long Thanh continues to attract investment from high-tech and advanced manufacturing businesses seeking a well-connected and future-ready industrial base.

To date, the IP has welcomed more than 15 domestic and international investors. The investment by ITS, the second Vietnamese enterprise to establish operations at Amata City Long Thanh, further reflects the growing confidence of local companies in the IP's high-quality infrastructure, strategic location, and long-term development potential.

Amata City Ha Long develops Vietnam-Japan local-level cooperation Amata City Ha Long took part in the Vietnam-Japan Local Cooperation Conference and related events from November 24-25, organised by the Ministry of Foreign Affairs in coordination with the Embassy of Japan in Vietnam and Quang Ninh People's Committee.

Amata City Ha Long lands $8 million investment from TianJian Vietnam Amata City Halong, also known as Song Khoai Industrial Park, has signed a land lease agreement with TianJian Vietnam for a new factory manufacturing speaker enclosures, plastic components, and moulds.

AMATA City Phu Tho secures $55 million credit facility A $55 million credit facility from Bangkok Bank will be used by AMATA City Phu Tho JSC for phase 1 of the project, focusing on compensation and site clearance, land development, and technical infrastructure.

AMATA City Ha Long reaffirms position as a modern industrial hub, welcoming new investor On September 11, Amata City Ha Long JSC. and Trois SMT (Vietnam) Technology Co., Ltd signed a Land Use Right Sublease Agreement for the development of a technology plant in Quang Ninh City.