The meeting took place on October 1, following a media roundtable in Hanoi on September 30 where experts and development partners discussed the evolving requirements of Vietnam's power system.

The task force meeting focused on translating the MoU into concrete work areas, including grid modernisation and digitalisation, improving system flexibility and reliability, knowledge sharing, domestic capacity building, and the development of Battery Energy Storage Systems (BESS).

Rapidly growing electricity demand, combined with the increasing share of renewable energy and distributed energy resources, is creating new requirements for how the power system is monitored and operated. Against this backdrop, the Global Energy Alliance presented ongoing work on a centralised energy management and scheduling platform for BESS at the meeting.

The platform enables the monitoring and optimisation of multiple BESS deployed across different locations and voltage levels. Based on grid operating conditions and signals such as electricity price forecasts, it can support decisions on when and how individual systems should charge and discharge.

This approach is intended to optimise the operational value and economic efficiency of distributed storage systems, while also providing additional information to support power system management and operations.

The platform represents a practical application of digital technology in energy storage management and can provide useful insights and experience for broader efforts to strengthen system visibility, improve operational flexibility, and support the effective integration of BESS into the power system.

“BESS is not just about hardware. As the number of storage systems grows, software, data, and coordination capabilities will play a significant role in determining how much value these systems can create for the grid,” said Biswarup Ghosh, global director, Grids of the Future, Global Energy Alliance for People and Planet.

Another key topic discussed at the meeting was the proposed establishment of BESS Centre of Excellence. The centre is envisioned as a platform for Vietnamese institutions, organisations, businesses, and educational institutions to learn from international experience and collaborate on capacity building and access to resources supporting energy transition efforts.

Under the proposed approach, the centre could serve as a hub for research, training, testing, knowledge, and experience sharing on energy storage technologies, building on technical work and stakeholder networks developed through earlier BESS activities. It could also support capacity building for regulators, utilities, businesses, universities, and research institutions in Vietnam.

The Electricity Authority of Vietnam (EAV) and its partners will continue discussions on the centre’s operating model, scope of functions, resources, and implementation roadmap to ensure that it responds to practical needs and the evolving requirements of Vietnam’s power system.

“The growing role of battery energy storage creates a need to strengthen local expertise among the agencies and organisations responsible for planning, managing, deploying, and operating these systems. The Centre of Excellence will provide a space to build expertise, share experience, and develop the capabilities Vietnam needs as BESS is deployed at increasing scale,” said Hoang Anh, programme director of Electrical Engineering, School of Electrical and Electronic Engineering, Hanoi University of Science and Technology.

In Vietnam, the combination of national-level dialogue, digital tools, utility-level applications, and domestic technical capacity building is creating a foundation for modern grid solutions to be tested, refined, and implemented in practice, paving the way for regional expansion.

“Modernising Vietnam’s power grid requires continued cooperation and technical coordination across the energy sector as the system integrates increasing amounts of renewable energy and new technologies. Through our cooperation with the Global Energy Alliance for People and Planet, we are jointly identifying practical priorities in areas such as grid digitalisation and battery energy storage systems, while strengthening the technical foundations needed to support implementation,” said Tang The Hung, deputy director general of EAV.

Beyond the priority areas outlined above, the EAV aims for the task force to continue exploring and proposing new cooperation initiatives based on Vietnam’s practical needs and the strengths of international partners. The objective is to ensure that the commitments under the MoU are translated into substantive activities with concrete outputs that support government agencies and businesses in implementation.

Battery storage prioritised as rooftop solar incentives under review The government is preparing a new package of policies to accelerate rooftop solar development, while expanding investment in battery energy storage and studying time-of-use electricity pricing for large residential consumers as part of broader reforms of the country's power sector.

ADB and GEAPP launch ENABLE platform to fast-track battery storage adoption The Asian Development Bank (ADB) and the Global Energy Alliance for People and Planet (GEAPP) on June 12 announced a grant agreement to establish the Enhancing Access to Battery Energy Storage System (BESS) for Low-carbon Economies (ENABLE).

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The National Statistics Office (NSO) held a press conference on October 3 to announce the socioeconomic statistics for the third quarter and the first nine months. According to a report presented by NSO director general Nguyen Thi Huong, Vietnam's performance continued to deliver positive results across most sectors despite persistent global economic uncertainties.

Vietnam's economic growth in the first nine months. Data source: NSO

Vietnam’s GDP is estimated to have expanded by 9.95 per cent on-year in the third quarter of 2026, accelerating from 8.15 per cent in the first quarter and 8.81 per cent in the second quarter. Agriculture, forestry, and fisheries grew by 4.21 per cent, while industry and construction expanded by 12.5 per cent, and services by 9.54 per cent.

For the first nine months, GDP growth reached an estimated 9.01 per cent. Agriculture, forestry, and fisheries grew by 4.02 per cent, contributing 5.35 per cent to the increase in the economy’s total gross value added. Industry and construction expanded by 11.21 per cent, contributing 49.62 per cent, while services grew by 8.69 per cent, accounting for 45.03 per cent.

Twelve of Vietnam’s 34 cities and provinces recorded regional GDP growth of at least 10 per cent. Quang Ninh led with 12.54 per cent, followed by Ha Tinh at 12.36 per cent, Haiphong at 12.08 per cent, Bac Ninh at 11.81 per cent, and Ninh Binh at 11.3 per cent.

Industrial growth remained robust, supported by expanding growth drivers, the operation of several large-scale projects, a recovery in export orders, and faster public investment disbursement, which generated spillover effects across manufacturing and construction.

Industrial gross value added rose by 11.02 per cent in the first nine months. Manufacturing and processing remained the main growth driver, expanding by 11.36 per cent and contributing 33.85 per cent to the increase in the economy’s total gross value added. Construction grew by 12.22 per cent, contributing 8.23 per cent.

The industrial production index is estimated to have increased by 14.8 per cent on-year in the third quarter. For the first nine months, the index rose by 12.3 per cent, the strongest nine-month increase since 2019. Manufacturing and processing grew by 12.9 per cent, electricity production and distribution by 10.6 per cent, and mining by 8 per cent.

The consumption index for the manufacturing and processing sector increased by 12.8 per cent over the nine-month period. Meanwhile, inventories in the sector as of September 30 were 11.9 per cent higher than a year earlier.

Within the services sector, transport and warehousing grew by 11.03 per cent on-year in the first nine months, followed by wholesale and retail trade at 9.85 per cent, financial, banking, and insurance activities at 9.45 per cent, and accommodation and food services at 8.83 per cent.

Total retail sales of goods and consumer service revenue at current prices were estimated at more than VND2 quadrillion ($80 billion) in the third quarter, up 14.5 per cent on-year. The figure reached almost VND6 quadrillion ($235 billion) in the first nine months, an increase of 13.4 per cent. Excluding price factors, growth stood at 7.8 per cent.

International arrivals reached an estimated 5.4 million in the third quarter, up 13.8 per cent on-year. The total for the first nine months was 17.7 million, an increase of 14.5 per cent.

Goods exports reached $167.85 billion in the third quarter, up 30.4 per cent on-year, while imports rose by 42.2 per cent to $170.33 billion.

For the first nine months, total goods trade reached $888.02 billion, up 30.4 per cent on-year. Exports increased by 24.5 per cent to $434.30 billion, while imports rose by 36.7 per cent to $453.72 billion.

Domestic enterprises accounted for $83.89 billion, or 19.3 per cent, of total exports, up 7.5 per cent on-year. Foreign-invested enterprises, including crude oil, generated $350.41 billion, up 29.4 per cent and accounting for the remaining 80.7 per cent.

Processed industrial products made up 90.4 per cent of total export value, while production materials accounted for 94.1 per cent of imports. The United States remained Vietnam’s largest export market, with shipments worth $140 billion, while China was the largest import source, with imports totalling $187.34 billion.

Vietnam recorded a goods trade surplus of $1.27 billion in September. However, the country posted a trade deficit of $19.42 billion for the first nine months, compared with a surplus of $16.87 billion in the same period last year. The services trade deficit reached $8.21 billion.

Total social investment at current prices was estimated at VND3.1 quadrillion ($121 billion) in the first nine months of 2026, up 15.1 per cent on-year, compared with growth of 11.6 per cent in the same period of 2025.

According to the NSO, the increase reflected the impact of macroeconomic management policies, efforts to accelerate public investment projects, and sustained confidence among domestic private businesses and foreign investors.

Investment by the state sector reached VND931 trillion ($36.5 billion), up 17.3 per cent. The non-state sector invested VND1.65 quadrillion ($64.5 billion), an increase of 14 per cent, while investment by foreign direct investment (FDI) enterprises totalled VND529.4 trillion ($20.5 billion), up 14.5 per cent.

Total registered foreign investment in Vietnam reached $50.36 billion as of September 30, up 76.4 per cent on-year. Disbursed FDI was estimated at $21.07 billion in the first nine months, an increase of 12.1 per cent and the highest nine-month figure since 2022.

The consumer price index (CPI) rose by an average of 4.8 per cent on-year in the third quarter. For the first nine months, average CPI inflation stood at 4.52 per cent, while core inflation reached 4.26 per cent.

NSO director general Nguyen Thi Huong said, "Nine-month GDP growth of 9.01 per cent was exceptionally high by historical standards and provided an important foundation for achieving the highest possible growth rate under the country's targets. However, achieving double-digit economic growth would remain a major challenge."

The NSO called for continued efforts to prioritise growth while maintaining macroeconomic stability, ensuring major economic balances, controlling inflation and prices, and stabilising markets.

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Speaking at the government's regular press conference for September on October 3, Chi said, "The upgrade had been recognised by international financial institutions and would bring benefits to the market in both the short and long term."

To maintain its new status and progress towards higher classifications, the Ministry of Finance (MoF) has identified four priority areas: improving the regulatory framework, expanding market supply, strengthening investment demand, and modernising market supervision.

The government plans to submit amendments to the Securities Law to the National Assembly for consideration during its October 2026 session. The revisions are intended to address the market’s needs following the upgrade, keep pace with technological advances, and facilitate the application of AI and digital transformation. The MoF is also considering regulatory sandboxes for the securities market.

On market supply, the ministry has submitted proposals to the government on linking initial public offerings with stock exchange listings to make it easier for businesses to raise capital through the stock market.

Measures are also being developed to encourage large companies with sound corporate governance, as well as foreign-invested enterprises, to list their shares. Amendments to the Investment Law are expected to clarify foreign investors’ ownership limits in businesses, including listed companies, the MoF leader said.

The MoF is also working on measures to develop the corporate bond market, covering both public offerings and private placements, while diversifying financial products such as green bonds and derivatives. Incentives are being considered to encourage green bond issuance.

On the demand side, the ministry aims to increase the participation of institutional investors to strengthen market stability and support sustainable development. It is working with the State Bank of Vietnam and other ministries and agencies to simplify administrative procedures for foreign investors and improve access to the market.

The ministry is also continuing to develop a central counterparty clearing mechanism and preparing a programme to improve domestic investors’ financial knowledge and investment capabilities.

The fourth priority is to modernise market management and supervision, improve transparency, detect and strictly handle violations, and protect the legitimate rights and interests of all market participants.

Deputy Minister of Finance Nguyen Duc Chi. Photo: Manh Tuan

Vietnam’s GDP grew by an estimated 9.95 per cent on-year in the third quarter of 2026 and just over 9 per cent in the first nine months, many economic sectors had recorded strong growth.

The government remains committed to achieving double-digit economic growth in 2026. Prime minister has instructed ministries, local authorities, and businesses to implement growth measures decisively and effectively in the final three months of the year to fulfil their annual targets and help the economy meet its goal.

Deputy Minister Chi stressed the need for proactive and flexible economic management, with close coordination between monetary, fiscal, and other macroeconomic policies to control inflation.

"Authorities must regularly assess the balance between price stability and growth support," he said. “We must absolutely ensure that the economy does not face shortages of electricity or petroleum products.”

The government will also continue to improve the institutional framework, enhance the investment climate, remove existing obstacles, prevent new delays, and reduce administrative procedures and business conditions.

During the October session, the government plans to submit several laws and amendments to the National Assembly, including legislation on corporate income tax, personal income tax, non-agricultural land use tax, and securities, with the aim of further simplifying procedures and expanding incentives.

Public investment remains a key driver of growth. The government aims to disburse all the allocated public investment plan and complete major projects scheduled for 2026. Capital will be withdrawn from ministries and localities with slow disbursement and redirected to projects with stronger implementation capacity and the ability to absorb funding.

The government will also seek to reduce input costs, encourage private investment, and accelerate the resolution and implementation of stalled projects.

"Obstacles had been resolved for around 1,000 previously stalled projects. The government has instructed ministries, agencies, and local authorities to move these projects into on-site implementation, with the aim of generating a significant boost to economic growth," said Chi.

State-owned groups and corporations are also expected to fulfil the business and production plans established at the beginning of the year.

In science and technology, innovation, and digital transformation, the government will implement its 100-day action plan and seek to disburse all allocated state budget funding for these areas in the remaining months of the year.

“The MoF is closely monitoring developments and advising the government on scenarios and measures to achieve the target of double-digit GDP growth in 2026,” added Chi.

Vietnam's new market status draws global investor confidence Greater access to international capital is only the beginning for Vietnamese companies, with the longer-term opportunity being to turn that access into sustainable growth while meeting higher standards from global investors on transparency, governance, and investor communication.

JICA congratulates Vietnam on FTSE Russell market upgrade The Japan International Cooperation Agency has congratulated Vietnam on its reclassification from Frontier Market to Secondary Emerging Market status by FTSE Russell.

Vietnam congratulated as an emerging market Vietnam’s elevation to FTSE Russell’s Secondary Emerging Market marks a hard-earned recognition of the country’s economic progress and the growing maturity of its capital market.

In its first phase, coLoan will support women ride-hailing and delivery workers in Hanoi and Ho Chi Minh City to access and own electric vehicles, with an ambition to scale the model nationwide and, over time, beyond Vietnam.

The programme brings together financial institutions (Shinhan, FE Credit, VietCredit), electric vehicle makers (VinFast, Selex Motors, Dat Bike) and mobility platforms (Grab, Green SM) to address different barriers that have historically limited women's access to productive assets and formal finance. Lenders share credit risk, EV manufacturers make vehicles more accessible, while mobility platforms provide income-generating opportunities and operating data that can support repayment and credit-building.

Together, the partnership creates a connected pathway from daily work to ownership of the vehicle that powers it.

According to Park Jeong Song, sales director, Shinhan Finance, women who power Vietnam's mobility economy every day have too often been invisible to the financial system.

“This coalition changes that, giving them a fair tool to earn on their own terms, build credit, and drive the green transition,” Song said.

Lan Anh Ha, principal, Delta West Group said that coLoan turns a multi-partner financing structure into something women drivers can clearly understand and act on, offering structured guidance and empowering women’s decision-making process from their first inquiry to full vehicle ownership.

Every day, millions of Vietnamese women earn a living through ride-hailing and delivery. Many face unpredictable fuel costs, tightening restrictions on petrol motorbikes in major cities, and limited formal credit history to secure affordable financing.

coLoan puts an electric vehicle, a work tool that earns income every day within reach with zero down payment and repayments from about VND 40,000 ($1.54) a day over terms of up to 24 months.

Based on coLoan programme’s partner estimates, switching from petrol to electric can cut energy costs by more than 60 per cent and increase net income by about 8 per cent. Every on-time payment also helps drivers build a credit history and move towards a greener, more secure livelihood.

The financing challenge sits within a broader gender gap in entrepreneurship. A UN Women study found that 93.2 per cent of women-owned enterprises in Vietnam were micro or small enterprises, with 79.2 per cent operating in the service sector. The study also identified limited access to resources among the barriers facing women-owned SMEs.

In its first phase, coLoan aims to mobilise approximately $2 million in impact financing across Hanoi and Ho Chi Minh City, while targeting an estimated 5,000 tonnes of CO₂ emissions reduction annually.

The ambition extends well beyond the pilot. Vietnam has around 80 million motorcycles in circulation, with electric motorcycles accounting for only about 4 per cent of the fleet, approximately 3.2 million electric motorcycles in 2025.

This creates a significant opportunity for financing solutions that can accelerate the transition from petrol-powered to electric mobility.

The climate challenge makes that transition increasingly important. In its 2025 Economic and Social Survey of Asia and the Pacific, ESCAP identified Vietnam as one of 11 of 30 economies analysed that were more exposed to climate risks from a macroeconomic perspective.

Vietnam's national green transport roadmap sets a pathway towards net-zero greenhouse gas emissions by 2050, including the transition of road motor vehicles toward electricity and green energy.

How can private investments unlock Vietnam’s healthcare? Vietnam’s healthcare sector has made remarkable strides over the past few decades, shaped by government reforms and increasing private sector involvement. Social health insurance, established in the early 1990s, now covers about 93 per cent of the population, with an annual government budget over $5 billion.

Photo: baodautu.vn

China remained the largest market for Vietnamese fruit and vegetable exports, accounting for 63 per cent of total export value. Exports to the market rose 38.8 per cent on-year in the first nine months.

The United States and South Korea followed, accounting for 7 per cent and 3.8 per cent of total exports, respectively. Fruit and vegetable exports to the US increased 17.9 per cent, while those to South Korea rose 9.7 per cent.

Overall agro-forestry-fishery exports reached an estimated $56.3 billion in the first nine months, according to the MAE.

Tran Gia Long, deputy director of the Department of Planning and Finance under the MAE, said exports had maintained solid growth during the period, with China’s imports of Vietnamese agro-forestry-fishery products rising nearly 19 per cent on-year.

China accounted for nearly 25 per cent of Vietnam’s total agro-forestry-fishery export value, making it the country’s largest export market.

US imports increased by more than 1 per cent on-year, giving the market a share of nearly 20 per cent, while exports to Japan rose by around 5 per cent, with Japan accounting for more than 7 per cent.

“Exports of most agricultural, forestry and fishery products increased, except for rice, coffee, and rubber, mainly due to lower selling prices,” Long said.

Fishery exports reached nearly $9.2 billion in the first nine months, up more than 12 per cent on-year. In the first eight months, exports to China increased 34 per cent, while those to Japan and the US rose 3 per cent and 2 per cent, respectively.

The MAE expects exports to accelerate during the final quarter as demand from major markets continues to increase.

The ministry is targeting agro-forestry-fishery export revenue of more than $74 billion for the full year, meaning the sector needs to generate at least $18 billion in the final three months.

Long said the sector was also working towards achieving agricultural GDP growth of 4 per cent for the full year, in line with the government’s revised target as part of its broader goal of achieving double-digit economic growth.

“The ministry has developed adjusted growth scenarios for each sector and field on a monthly basis, with fourth-quarter growth targeted at at least 4.2 per cent to bring full-year growth to 4 per cent or higher,” he said.

The MAE estimates that fruit and vegetable exports could generate an additional $3.8 billion in the final quarter, including $1.2-1.3 billion from durian. Full-year fruit and vegetable exports are expected to reach $3.8-4 billion.

Fishery exports are projected to bring in around $4 billion during the final three months, while timber and forestry products could generate approximately $5.8 billion.

Rice, coffee, pepper and cashew exports are expected to contribute around $7.4 billion in the final quarter.

“The MAE expects major markets to increase imports in both volume and value in the final months of the year. We therefore expect agro-forestry-fishery exports to accelerate and meet or exceed the set target,” Long said.

On the afternoon of September 29, at the sixth Vietnam Industrial Property Forum (VIPF) 2026, the “For Vietnam’s Industrial Property Development in 2026” category of the Green Future Awards 2026 honoured 16 businesses and one organisation.

This new category recognises businesses and organisations that have made positive contributions to the development of Vietnam’s industrial real estate market and have supported the VIPF over the years.

Stavian IP receives the award

KSB receives the award

VSIP receives the award

KN Holdings receives the award

JLL Vietnam receives the award

Thanh Thanh Cong IZ receives the award

Soilbuild International Vietnam receives the award

KCN Vietnam receives the award

Sembcorp Development receives the award

DSV receives the award

Prodezi Long An receives the award

Thanh Binh Phu My receives the award

Popplife (ROX) receives the award

IMG Phuoc Dong receives the award

Tien Phong Plastic receives the award

IDICO receives the award

Vietnam Industrial Real Estate Association receives the award

A competitive advantage for next-generation industrial parks At the third session of the sixth Vietnam Industrial Property Forum, co-organised by Vietnam Investment Review and the Vietnam Industrial Real Estate Association in Ho Chi Minh City on September 29, experts and business representatives discussed how to build competitive advantages for next-generation industrial areas.

Six developers honoured as Emerging Green Industrial Property Developers Six enterprises have been honoured in the Emerging Green Industrial Property Developer 2026 category at the Green Future Awards 2026, held as part of the Vietnam Industrial Property Forum 2026.

Green Future Awards honour five leading industrial park developers Five enterprises have been honoured in the Leading Green Industrial Property Developers in 2026 category at the Green Future Awards 2026, held as part of the Vietnam Industrial Property Forum 2026.

At the ceremony on September 29, Soilbuild was named 'Emerging Green Industrial Property Developer 2026' and 'Outstanding Sustainable Enterprise in Industrial Parks 2026', and also received the award 'For Distinguished Contributions to Vietnam's Industrial Property Sector'.

The recognition underscores Soilbuild's efforts to cater to the evolving demands of tenants and contribute to the development of Vietnam's industrial property sector.

Next-generation foreign investment in Vietnam will place greater emphasis on the quality and occupier expectations for their factory and business space, particularly as traditional foreign-invested industries transform into higher-tech, higher value industries focusing on technology, research and development, sustainability, and long-term value creation.

On the sidelines of the Vietnam Industrial Property Forum (VIPF), Ngwe Zaw, country head of Vietnam Soilbuild Group, pointed out a few key things that industrial facilities need to provide.

First, quality and flexibility. The facility needs to have the right specifications to support different types of operations and future growth. With modular factory design, optimal clear heights of up to 12m, and column span of 35m, Soilbuild’s Spectrum factories allow businesses greater flexibility in designing efficient workflows for their operations, while allowing for future adaptations where required.

Second, reliable infrastructure. For manufacturers, infrastructure reliability is critical. For example, at Spectrum developments, Soilbuild has looked at solutions such as dual single closed-loop power circuits to provide greater power stability and resilience for users.

Third, going beyond sustainability. Sustainability is increasingly expected by international companies. At Spectrum Nghe An, for example, the development has achieved LEED Silver certification, together with features such as energy-efficient design and EV charging facilities.

Soilbuild was named 'Outstanding Sustainable Enterprise in Industrial Parks 2026' at the Green Future Awards 2026. Photo: Le Toan

“But we believe sustainability should not be the endpoint. The industrial environment should also focus on the user experience and wellbeing of the people working there,” Zaw said, adding that this means having a well-managed ready-built hub, providing comprehensive one-stop services, and creating a better working environment.

Within each Spectrum setting, Soilbuild also aims to bring in more greenery, natural light, and biophilic elements to soften the concrete environment and create a more pleasant workplace.

These are principles that Soilbuild applies across our Spectrum properties. The company looks at not just the factory itself, but the entire experience – from the quality and reliability of the facility to the services provided, and the environment in which people work.

“We believe the next generation of industrial facilities needs to offer more than just space. It needs to provide the right combination of quality, reliability, flexibility, sustainability, and user experience, together with the support companies must establish, operate, and grow their businesses in Vietnam,” Zaw said.

He further highlighted that 'investment appetite' of foreign-invested enterprises have become increasingly selective in their investment appetite for industrial real estate, particularly in the ready-built segment. FIEs are placing greater emphasis on long-term operational value rather than conventional ownership models.

Investors are showing growing interest in ready-built solutions that can minimise development risks, reduce upfront capex, and accelerate time to market, while giving them greater flexibility to respond to a dynamic business environment and shorter business cycles.

At the same time, companies are looking beyond just the physical space. They are increasingly considering the quality of the facility, infrastructure reliability, sustainability, and the level of support they receive from the developer.

Soilbuild received the award 'For Distinguished Contributions to Vietnam’s Industrial Property Sector' at the Green Future Awards 2026. Photo: Le Toan

In particular, Soilbuild is witnessing three key changes. First, greater selectivity. FIEs are prioritising assets and locations that can support their long-term competitiveness, rather than focusing purely on short-term cost savings.

Second, greater emphasis on one-stop support. For companies entering or expanding in Vietnam, setting up an operation can involve many different requirements beyond securing a factory. This is an area where Soilbuild places strong emphasis.

For the last 50 years, Soilbuild has been part of Singapore’s industrial transformation. Leveraging its extensive experience, combined with a strong local team on the ground, the company seeks to provide a comprehensive service approach to support customers across their journey – from setting up their facility to supporting their ongoing operations – so that they can focus on their core business.

Third, greater focus on scalability and certainty. Infrastructure reliability, particularly power, and logistics, as well as the ability to expand or adapt their space, are becoming increasingly important. Companies want confidence that their industrial facility can support them not just when they enter Vietnam, but as their operations grow.

“Overall, we see the market moving towards a ‘best overall value’ approach, rather than simply the lowest-cost approach,” Zaw said. “For Soilbuild, this means providing more than just a competitively priced factory. We place strong emphasis on providing a reliable, flexible, and well-managed industrial environment, together with comprehensive support, so that FIEs can establish, operate, and grow their businesses in Vietnam with greater ease and confidence.”

Vietnam's industrial property sector shifts towards green growth Vietnam’s industrial property sector is entering a new phase of green development, requiring developers to adapt their strategies to an increasingly competitive landscape.

Ready-built facilities gain favour as industrial competition evolves Vietnam’s industrial market is shifting from competing primarily on cost to speed, quality, infrastructure, and sustainability, as foreign investors are pivoting towards ready-built and “plug-and-play” facilities.

Businesses honoured for building a green future at VIPF 2025 Vietnam Investment Review (VIR) honoured 26 businesses with Green Future Awards at the Vietnam Industrial Property Forum 2025 (VIPF 2025) on October 29.

Supply chains are becoming more diversified, more connected and increasingly focused on resilience. While cost remains important, investment decisions today are influenced by a broader set of factors including infrastructure quality, logistics capabilities, energy availability, sustainability readiness and supply chain resilience.

At the same time, global customers are raising expectations around both decarbonisation and circular economy performance. Manufacturers increasingly need access to lower-carbon transportation options, renewable energy pathways, reliable emissions data, and circular supply chain capabilities.

On the sidelines of the Vietnam Industrial Property Forum 2026 (VIPF 2026) on September 29, Prescott Gaylord, head of Sustainability for Contract Logistics in Asia-Pacific for DSV, said, “The future belongs to supply chains that are both resilient and sustainable. Those two objectives are becoming increasingly difficult to separate.”

Today’s supply chains face multiple challenges simultaneously: geopolitical uncertainty, changing trade patterns, decarbonisation requirements, reporting obligations, and growing customer expectations.

“DSV’s solution begins with visibility and operational excellence. We focus on creating strong connections across the supply chain through data, digital visibility, global partnerships and efficient logistics networks,” Gaylord said.

Prescott Gaylord represented DSV to receive the 'For Distinguished Contributions to Vietnam’s Industrial Property Sector' award at VIPF 2026. Photo: Le Toan

Customers increasingly need accurate information on carbon emissions, transportation activity, extended producer responsibility (EPR) obligations and broader supply chain performance. Good decisions require good data.

DSV also helps customers improve efficiency through network optimisation, transportation planning, warehouse modernisation and advanced facility management.

One area often overlooked is the role of warehouses. The warehouse of the future is not simply a storage location. It is an active contributor to sustainability performance through demand management, building management system optimisation, efficient cooling technologies, high-efficiency motors, renewable energy generation, and intelligent energy use.

“Ultimately, the most resilient supply chains are often the most efficient. Improving operational performance and improving sustainability increasingly go hand in hand,” Gaylord noted.

The strongest pressure to meet sustainability requirements comes from multinational customers that are looking to decarbonise their end-to-end supply chains, not just their own operations.

Customers are asking how they can reduce emissions from transportation and warehousing, how they can access lower-carbon solutions such as battery electric vehicles, hydro-treated vegetable oil, sustainable marine and aviation fuel, and how they can obtain credible emissions data to support reporting requirements and customer commitments.

A second trend emerges quickly around circular economy solutions. While decarbonisation still dominates most conversations today, customers are increasingly asking about reverse logistics, repair and refurbishment services, circular packaging, waste recovery, and support for EPR requirements. Many companies are starting to think beyond simply moving products and are looking at how products, materials and packaging can remain in use for longer.

What is particularly interesting is that many of these requirements are driving better business practices as well. More efficient transportation networks, better warehouse operations, reduced waste, and better visibility often improve both operational performance and sustainability outcomes.

“Our philosophy is to focus on impact first,” Gaylord said. “We start by improving the way supply chains operate – reducing waste, improving efficiency, and strengthening resilience. The benefits follow from those. In our experience, the most sustainable supply chains are often the ones that are run most efficiently.”

The rooftop solar power system at DSV's warehouse contributes to promoting a sustainable supply chain and carbon emissions reduction, Source: DSV

Multinational companies are no longer evaluating suppliers solely on cost, quality, and delivery performance. They are also assessing carbon performance, supply chain transparency, circularity capabilities, and long-term resilience.

DSV helps manufacturers operating in Vietnam respond to these expectations through supply chain optimisation, low-carbon logistics solutions, carbon reporting, energy-efficient warehousing, and circular economy services.

In numerous instances, sustainability is becoming a requirement to participate in higher-value global supply chains rather than simply a differentiator.

“As Vietnam continues to attract manufacturing investment, there is an opportunity to build supply chains that are efficient, resilient, and increasingly low carbon from the beginning. By helping customers improve operational performance while reducing environmental impact, we support Vietnam’s continued integration into more sophisticated global manufacturing networks,” added Gaylord.

Early planning keeps sustainable industrial park costs down Sustainable development does not increase the cost of industrial park construction if it is integrated from the planning stage, according to Prescott Gaylord, head of sustainability for contract logistics in Asia-Pacific at DSV.

A competitive advantage for next-generation industrial parks At the third session of the sixth Vietnam Industrial Property Forum, co-organised by Vietnam Investment Review and the Vietnam Industrial Real Estate Association in Ho Chi Minh City on September 29, experts and business representatives discussed how to build competitive advantages for next-generation industrial areas.

DSV backs Vietnam's push for more sustainable logistics DSV is poised to help Vietnamese businesses transition to more sustainable logistics and advance their decarbonisation efforts. Prescott Gaylord, head of Sustainability for Contract Logistics, Asia-Pacific at DSV, spoke with VIR's Thanh Van about the company's sustainability strategy.

The figure is expected to exceed $200 billion in just over a month. With these export results, Vietnam continues to affirm its role as a major electronics manufacturing hub for the global market.

Electronics exports have increased sharply since last year and maintain an average monthly turnover of nearly $20 billion.

According to statistics, in September alone, the entire electronics industry achieved export sales of $28.73 billion, of which the electronics and computer group accounted for $22.56 billion, equalling an increase of 112.7 per cent compared to the figure of September 2025, while mobile phones accounted for $6.17 billion, an increase of 14.3 per cent on-year.

In the first three quarters of 2026, export value in this sector was estimated at $175.4 billion, with electronics and computers accounting for $123.6 billion, and telephones $51.7 billion, signifying growth of 59.6 per cent, and 18.8 per cent on-year, simultaneously.

The rapid increases signify Vietnam's increasingly deep involvement in the global electronics supply chain, which is basically driven by global foreign-invested corporations such as Samsung, LG, Amkor Technology, Foxconn, Luxshare, and Goertek.

Regarding the import turnover, in September 2026 alone, import turnover of electronics, computers, and components reached $27.1 billion, a 93.7 per cent increase compared to September 2025.

For the first nine months of the year, imports of this group of goods surged to $188.9 billion, a 71.7 per cent growth on-year; imports of telephones and components decreased slightly by 0.8 per cent, reaching $8.1 billion. Total electronics imports for the nine months totalled $197 billion.

After nine months, total electronics exports and imports exceeded $372 billion, accounting for approximately 42 per cent of the country's total exports and imports. The trade balance remained in deficit.

The fourth quarter of each year is the peak export season. With signed orders from many businesses, it is predicted that exports in the fourth quarter will continue to maintain high performance, bringing the total exports of the entire industry in 2026 to a new peak, estimated at $235-245 billion.

Arrow Electronics showcases advanced AI and power solutions at PCIM Technology provider Arrow Electronics will present new artificial intelligence architectures, vehicle electrification components, and intelligent power management hardware during the PCIM Asia event in Shenzhen.

Electronics FIEs asked to expand Vietnamese supplier networks Foreign-invested electronics companies are being urged to expand their Vietnamese supplier networks and help domestic businesses move deeper into global supply chains.

Green transition opens new doors for electronics suppliers Vietnam's electronics suppliers are adapting to new global procurement standards, with environmental, social, and governance, carbon data, traceability, and smart manufacturing increasingly shaping access to higher-value supply chains.

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

As one of the pioneering banks in Vietnam in applying data and AI, Techcombank is gradually turning the technology into a core foundation in operations, decision-making, and customer service.

According to Lottner, AI is no longer a simple support tool and is becoming the driving force behind innovation and creating a sustainable competitive advantage for financial institutions.

“Put AI at the core of how we work, while always keeping people at the centre of every decision. We apply AI not to replace human potential, but to amplify capabilities, harness strengths, and help each individual create greater value. Let’s put AI at the core of how we work, while keeping people at the heart of everything we do – using AI not to replace human potential, but to amplify it,” he said.

Techcombank aims to place AI at the centre of all operations, while always keeping people at the core. AI is applied to enhance the capabilities of the workforce, help make better decisions, serve customers more effectively, and create increasingly personalised experiences.

Photo: Techcombank

To realise its AI-First strategy, Techcombank has invested systematically over many years in three key foundations: digitalisation, data, and talent. The bank currently processes approximately 8 billion data points each day, builds customer profiles with thousands of data attributes, and operates dozens of AI models serving business operations and risk management.

The bank currently applies AI in many key areas, such as enhancing the operational efficiency of the Relationship Manager team, personalising products and services, supporting data-driven decision-making, managing risk, and expanding financial access for potential customer segments. It is also stepping up the construction of a unified technology platform across its entire ecosystem, to enable AI to be deployed on a larger and more seamless scale.

Techcombank’s CEO presents the topic “Building the AI-First Bank, Shaping the Future of Financial Services” at AWS Cloud and AI Day Hanoi 2026.

Photo: Techcombank

According to Lottner, the greatest value of AI lies not only in increasing productivity but in its ability to create new capabilities for the organisation. AI helps the bank understand customers more deeply, better predict needs, and deliver the right solutions at the right time, thereby enhancing the customer experience and driving sustainable growth.

Under the topic “Building the AI-First Bank, Shaping the Future of Financial Services,” Lottner’s presentation provided insights into how financial institutions can exploit the power of AI responsibly to transform operating models, improve competitiveness, and shape the future of the financial services industry.

Techcombank’s presence at AWS Cloud and AI Day Hanoi 2026 said the bank’s pioneering role in Vietnam’s digital transformation and AI application journey, aiming towards the goal of building a next-generation bank where technology is the growth driver and people remain at the centre of all innovation.

Techcombank co-organises Vietnam Financial Forum 2026 The Vietnam Financial Forum 2026, a national-level financial forum, opened at the Ariyana International Convention Centre in Danang on July 9.

Techcombank helps foreign investors unlock growth opportunities in Vietnam Amid rising foreign investment, Techcombank is advancing its support for foreign-invested companies in Vietnam with tailored banking solutions.

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

“Geopolitical competition, trade protectionism, shifts in tariff policies, supply chain security requirements, and the race for technological advancement are having an increasingly direct impact on investment decisions and production strategies among global businesses,” Hoanh said.

“Factors once considered traditional advantages of an investment destination are now being weighed alongside new requirements for infrastructure, energy, logistics, human resources, technology, and project implementation speed,” he added.

Domestically, alongside efforts to achieve double-digit economic growth in 2026 and subsequent years, the drive to improve the quality and efficiency of foreign investment is reshaping both demand and the way Vietnam prepares its capacity to attract investment and organise production space.

According to data from the National Statistics Office under the Ministry of Finance, total registered foreign direct investment (FDI) in Vietnam reached $40.63 billion in the first eight months, up 55.4 per cent on-year.

Newly registered capital reached $21.71 billion, up 96.8 per cent. Manufacturing and processing remained the leading sector, attracting $12.15 billion in newly registered capital, accounting for 55.9 per cent of the total.

Disbursed FDI also delivered a notable signal. In the first eight months, disbursed FDI reached $17.25 billion, up 12 per cent on-year and the highest level recorded for the same period in five years. Manufacturing and processing alone accounted for $14.24 billion, or 82.6 per cent of total disbursed FDI.

The figures indicate that investment continues to flow into manufacturing, generating real demand for industrial land, ready-built factories, logistics, and supporting services.

However, competition is increasingly about infrastructure quality, development speed, and operational capabilities. This is also the time to revisit the concept of the next-generation industrial park (IP), the forum heard.

Policies and directions were discussed at the major event in Ho Chi Minh City. Photo: Le Toan

Dr. Nguyen Tram Anh, national project manager for the Global Eco-Industrial Parks Programme in Vietnam under the United Nations Industrial Development Organization, said that a next-generation IP can be understood as a production ecosystem focused on circular economy principles, resource efficiency, and cleaner production.

“It also seeks to strengthen the resilience of the ecosystem to external pressures while integrating innovation, big data, AI, and digital transformation,” said Anh.

To achieve this, Anh said, several elements need to be integrated from the initial planning stage, including energy transition infrastructure; infrastructure supporting industrial symbiosis and the circular economy; carbon emissions monitoring and management systems; and integrated logistics infrastructure.

According to Anh, Vietnam has moved from piloting and laying the groundwork to scaling up and institutionalising the eco-IP model, with the aim of enabling developers to proactively implement and replicate the model nationwide.

The legal framework for eco-IP has been gradually strengthened via various pieces of legislation that set targets of 10 per cent of IPs nationwide to become eco-IPs by 2030, while providing a basis for supporting green and circular projects.

Meanwhile, many localities, including Dong Nai, Ho Chi Minh City, Haiphong, and Bac Ninh, have incorporated eco-IPs and green transformation into their development plans.

“Going forward, policies for implementing eco-IPs need to be further refined, including support for industrial symbiosis solutions and incentives for eco-IPs, such as tax incentives, preferential lease terms, and concessional financing for eco-IP solutions,” Anh told VIR.

It is also necessary to continue strengthening awareness and domestic technical capacity, enabling IP developers, businesses, and service providers to independently assess and implement eco-IP solutions while gradually reducing their reliance on international technical assistance.

Experts share their insights

Vuong Thi Minh Hieu, deputy director Foreign Investment Agency Ministry of Finance

Under forthcoming amendments to the Investment Law, the drafting agency is proposing mechanisms to remove obstacles for large-scale projects, including negotiations with major investors and comprehensive investment incentive packages that combine multiple policy measures. If approved, the government would have the authority to decide on these packages without having to seek approval from higher levels.

Vietnam has set a target for 10 per cent of IPs in localities to be developed towards an eco-industrial model. This will require coordinated solutions covering institutions, policy, financing, transition costs and cooperation between central and local authorities.

The Ministry of Finance is proposing several measures to support IP infrastructure developers, including longer operating periods, preferential interest-rate support and allowing eligible costs to be deducted for corporate income tax purposes. These measures are intended to provide more concrete support for the transition towards eco-IPs.

On decentralisation and administrative procedures, Ho Chi Minh City, Dong Nai and Bac Ninh are among the localities attracting substantial investment and have made progress in procedures. However, more consistent implementation requires a comprehensive approach.

Administrative reform must go together with stronger decentralisation to local authorities. The government will continue to push this forward, including for new economic models.

Nguyen Thanh Chuong, CEO, Thanh Thanh Cong Industrial Real Estate Corporation

For more than three years, we have consistently pursued a strategy centred on circular and eco-friendly IPs. These standards serve as a passport that enables secondary investors within our IPs to export their products more easily to demanding markets such as the US and Europe.

A practical example is our 215-hectare dedicated textile and dyeing IPs, where we have invested in a specialised wastewater treatment system with a capacity of 27,000 cubic metres per day, combined with rooftop solar power and water recycling.

By providing safe infrastructure that meets environmental standards, we enable investors to operate with greater confidence and facilitate smoother exports. This, in our view, is the most tangible form of economic efficiency.

Our strategy is to develop a next-generation IP project in the Mekong Delta covering approximately 7,000 hectares. The project aims to bring a high-quality product to the market while supporting long-term investment.

Nguyen Van Lang, general director Becamex Binh Dinh

The competitiveness of an IP in the coming period will depend not only on land availability and rental rates, but also to a large extent on the quality, reliability, and scalability of infrastructure serving production activities.

Becamex VSIP Binh Dinh continues to develop an integrated infrastructure system covering electricity, water supply, drainage, wastewater treatment, telecommunications, and digital infrastructure. The water supply system is planned with a capacity of approximately 45,900 cubic metres per day, alongside a wastewater treatment system that meets environmental requirements.

At the same time, the company is gradually studying and implementing solutions for renewable energy, energy management, and centralised operational monitoring systems.

Logistics is another critical factor. In addition to its connectivity to seaports and inter-regional transport routes, the company plans to develop an inland container depot within the project area to enhance logistics connectivity and support enterprises’ import and export activities.

Nguyen Thi Thao Nhi, chairwoman and CEO Thanh Binh Phu My

Under the traditional model, developers focused on site clearance, land preparation and infrastructure development in phases, helping to reduce costs and keep rents competitive.

New-generation IPs, by contrast, require integrated investment from the outset in infrastructure, environmental systems, energy and sustainability standards before attracting investors. The higher upfront capital and financing costs can push industrial land rents above those in neighbouring markets. When rents are higher, the services provided must also be better.

Another issue is labour. As the cost of developing IPs rises, manufacturers need sufficiently high productivity to offset those costs. Labour productivity in Vietnam remains lower than in China, putting additional pressure on the competitiveness of manufacturers.

Project implementation time is also an important consideration for foreign investors. New-generation IPs can proactively provide integrated power, water and wastewater treatment infrastructure up to the factory boundary, allowing investors to focus on building plants and installing equipment and bring projects into operation more quickly.

However, the actual timeline can still be extended by licensing procedures. For example, fire prevention and fighting approval can take at least 45 days, while environmental permits also require at least 45 days, with basic design procedures potentially taking another 25-30 days.

Truong Gia Bao, vice chairman, Vietnam Industrial Real Estate Association

Previously, investors looking at Vietnam were familiar mainly with places such as Hanoi, Ho Chi Minh City, and Danang. Today, they have a much broader understanding of local markets and are increasingly aware of the distinctive advantages of individual provinces and cities. This shows that our investment strategy has become more deeply rooted at the local level. The next step is connectivity. Each locality has its own advantages, policies and investment focus.

At the same time, investment decisions must work both ways. Vietnam needs to identify the types of investors it wants to attract, as European, US, Chinese, and Taiwanese investors have different decision-making processes and investment preferences.

Policy will continue to support investment, but government mechanisms inevitably take time to develop and respond. Businesses and infrastructure developers therefore have an important role in identifying and capturing opportunities. The industrial real estate market has never been as well positioned as it is today.

Major players from manufacturing, residential real estate and finance have entered the industrial real estate market. Infrastructure developers in both northern and southern Vietnam have also reached a more mature stage, creating increasingly comprehensive industrial ecosystems.

Lee Ark Boon, CEO, Sembcorp Development

Last year, Vietnam attracted the highest level of realised foreign direct investment in five years. Manufacturing remained at the heart of this growth, reinforcing Vietnam’s role in Asia.

Electronics exports exceeded $100 billion in the first eight months of this year alone – the largest share of Vietnam’s exports. In semiconductors, more than 170 foreign-invested projects have been established, with nearly $12 billion in committed capital – evidence that investors see Vietnam as part of the next phase of manufacturing.

The question now is whether Vietnam can build on this momentum and become the place where the next generation of industrial ecosystems are built.

Fundamentally, eco-IPs attract higher-value funding. They support advanced manufacturing, strengthen resilience, and enhance competitiveness. But achieving scale takes more. It requires coordinated action: clear policy signals from government, patient capital from investors, execution capability from developers, and demand commitment from tenants. These challenges are real, but the direction is clear.

Sustainable eco-IPs are therefore a crucial element of a nation’s competitiveness. But competitiveness is not built on sustainable infrastructure alone. It also depends on the people who make growth possible.

People are an essential part of the equation. Businesses increasingly compete for talent as much as they compete for capital. Industrial ecosystems must thus provide environments where people can live, work, learn, and play.

Nguyen Tuan Anh, general director, Stavian IP

Vietnamese personnel are highly capable and able to handle high-tech work. The challenge lies in how to train them and create an environment where they can fully realise their potential.

Indeed, numerous foreign companies, especially those from Europe, have yet to select Vietnam because of the workforce quality and the ability to meet their requirements.

Besides workforce, foreign companies also place high requirements on ESG, so IPs also need to meet the environment, energy, and clean production standards. Stavian is selecting specific sites to develop into eco-IPs.

We aim to be more proactive in energy by utilising clean power, rooftop solar, and energy solutions that meet tenants’ requirements.

Stavian IP has been operating in the IP infrastructure sector for only about five years, making us a relatively young player in this field. However, drawing on our experience as a manufacturing enterprise, we aim to develop IPs with a relatively comprehensive ecosystem. It includes utilities such as water, electricity, and gas alongside services tailored to manufacturing enterprises.

Thus, businesses can utilise them immediately upon arrival instead of developing each utility separately.

Dr. Nguyen Tram Anh, national project manager for Vietnam, Global Eco-Industrial Parks Programme, UNIDO

Eco-IPs have been institutionalised in law, and there is a target for eco-IPs to account for 10 per cent of the country’s total IPs by 2030. There has also been a further basis and financial support mechanisms provided for green and circular projects, including eco-IPs and industrial symbiosis initiatives.

In terms of model development, the programme has been implemented in 10 IPs and around 160 enterprises, with more than 1,200 solutions put in place. These measures have helped save approximately 200,000MWh of electricity and nearly one million cubic metres of water annually, while reducing more than 340,000 tonnes of CO2 emissions.

More than $42 million has been invested, generating annual savings of nearly $10 million. The programme has also organised numerous training and capacity-building activities, attracting thousands of participants.

More importantly, the programme has helped change the awareness and approach of IP developers, shifting the focus from land leasing towards developing IPs as ecosystems that provide supporting services to businesses, promote resource efficiency, shared infrastructure, and industrial symbiosis, thereby reducing emissions and contributing to local communities and ecosystems.

Nguyen Tuan Anh, deputy general director KN Holdings

The transition towards a next-generation IP model is becoming essential, but the key question is how this transition can be carried out in the most effective way.

The next phase requires an integrated ecosystem with clearly defined roles, rather than a situation in which every IP attempts to incorporate every possible feature, resulting in scattered resources and a failure to maximise each location’s distinctive advantages.

For IPs targeting high-tech and semiconductor industries, the focus should be placed squarely on large-capacity, highly reliable power supplies and stringent wastewater treatment systems.

For IPs targeting food processing and light manufacturing, locations should be optimised around proximity to raw material supply chains and logistics infrastructure.

At the regional planning level, Ho Chi Minh City has strengths in high technology and services, while Phu My is well positioned for heavy industry and deep-sea port operations. Tay Ninh and the Mekong Delta, meanwhile, can focus on processing industries and river- and sea-based logistics supply chains.

Prescott Gaylord, head, Sustainability for Contract Logistics in Asia-Pacific, DSV

The competitive advantage of an IP is not infrastructure. The competitive advantage is adaptability. Power, water, logistics, and data are important. But the IP that wins is the one that can evolve.

From a contract logistics perspective, the most successful IPs are often not those optimised for a single industry or business model, but those designed to adapt as technologies, supply chains, and customer requirements evolve. Manufacturers increasingly value connectivity and flexibility alongside traditional considerations such as cost and reliability.

Sustainability is increasingly an operational capability. Many sustainability requirements are becoming business requirements. Access to renewable energy, resource efficiency, circular-economy infrastructure, and decarbonisation capabilities are increasingly linked to operational resilience, customer expectations, and long-term competitiveness.

IPs are long-lived assets. The most competitive IPs of the future will be those that create lasting value not only for tenants, but also for the surrounding communities. This includes integrating industry, logistics, ecology, and community development into a system that remains attractive for investment over decades.

Trang Le, country head, JLL Vietnam

Vietnam remains among the world’s top investment destinations, but competition from other countries is increasingly evident in the data.

During the first two to three decades of foreign funding development, investment largely followed market movements, with investors and localities gradually finding their own directions. After years of development, however, distinct regional industrial ecosystems have emerged.

Northern Vietnam has developed a strong advantage in attracting investment in electronics and related components. With 13,000 hectares of industrial land across more than 75 IPs, the region is strengthening its position as the country’s fastest-growing high-tech manufacturing hub. The tenant mix is shifting from traditional manufacturing towards electronics, electrical equipment, and precision engineering.

Southern Vietnam, meanwhile, serves as a hub for supply chains and logistics, supporting both the domestic market and inter-regional connectivity.

Dao Nguyen Khanh, head of Sustainability and Corporate Communications INSEE Vietnam

To promote genuine industrial symbiosis, I have two recommendations regarding infrastructure planning.

First, planners need to understand the value chains connecting different industries so that factories can be located close to one another. A practical example from INSEE is our cement plant in the Thi Vai area of Ba Ria-Vung Tau. Previously, we had to import steel slag from Japan or source it from Hoa Phat in Quang Ngai province.

Second, material recovery facilities should be developed within or in areas bordering two or three IPs. These would serve as a central hub for sorting industrial waste and residues. If such facilities are not incorporated into planning from the outset, factories that have already been located will face significant logistics costs when trying to establish circular connections later.

Over the next 12 months, I propose that IPs and businesses jointly set a target of 100 per cent ESG assessments and codes of conduct for service providers and suppliers.

Ngwe Zaw, country head for Vietnam Soilbuild Group

One of the key things we have learnt from Singapore is that industrial facilities need to evolve together with the industries they serve. As Singapore moved from being a conventional contract manufacturing hub towards higher-value manufacturing and logistics, we saw how requirements became more sophisticated.

We are applying that experience in Vietnam by focusing on quality, flexibility, and efficiency. This includes modern ready-built factories, flexible unit sizes, high floor heights and layouts that can support different industries, automation, ease of operations, and future expansion.

Sustainability is also a core consideration. In Singapore, we have developed several Green Mark-certified projects, including Tai Seng Exchange. We bring the same mindset into our Spectrum properties in Vietnam, incorporating features such as energy-efficient design, natural lighting and ventilation, solar readiness, and electric vehicle charging, as well as pursuing recognised green-building standards such as LEED.

Tran Nhat Ninh, deputy general director Tien Phong Plastic

Since early 2026, we have accelerated the adoption of ESG standards in our governance, operations, and manufacturing, focusing on energy efficiency, resource optimisation, and greater responsibility towards employees, communities, and the environment.

The company identifies ESG as one of the pillars of its long-term development strategy, with the aim of expanding international integration and becoming a brand with $1 billion in revenue by 2035.

From the perspective of a manufacturer and a solution provider for IPs, we see that an integrated model can help optimise long-term operating costs. This can reduce maintenance, servicing, and additional investment costs for standalone infrastructure systems, allowing companies to allocate more resources to their production and business activities.

Based on our operational experience, a mechanism should be established for sharing resource information among businesses within IPs. When data on raw materials, by-products, water, and other material flows are fully shared, companies can identify more opportunities.

John Campbell, director and head Industrial Services, Savills Vietnam

Today, end-users such as Coca-Cola, Tetra Pak, and Kingspan, as well as industrial developers including SLP, Soilbuild, and KCN Vietnam, are increasingly adopting LEED-certified facilities in Vietnam.

For landlords, this means they must evolve into integrated industrial platforms. For tenants, ESG directly reduces costs, saves time, and supports day-to-day operations.

A truly next-generation IP requires sophisticated master planning, moving beyond the traditional 300-500-hectare mono-functional model to integrate manufacturing, research and development, commercial services, worker accommodation, and data centre space.

Critical infrastructure is equally important, particularly reliable water supply, advanced wastewater treatment, and guaranteed power capacity, as high-tech, semiconductor, and data centre operations require significantly more power than traditional factories.

The right financial support helps female entrepreneurs grow and build more resilient businesses, Photo: CARE

For banks and investors, this has practical implications. Understanding an entrepreneur’s business cycle, growth ambitions and exposure to risk can reveal financing needs that a standard loan product may overlook. Three women leading very different enterprises illustrate why this matters.

Luong Ngoc Ha, founder and general director of Star Vietnam Global Electrical Machinery, supplies agricultural, construction and aquaculture equipment across Vietnam, Laos, and Cambodia. As her company expanded, its financial needs became more complex. Flexible working capital and digital banking tools became increasingly important for managing transactions across markets.

Her experience shows how financial services need to evolve alongside business growth. Capital enables expansion; effective payment systems and better financial information help an entrepreneur manage it. Ha also stresses that moving transactions online increases the importance of cybersecurity. Convenience delivers lasting value when businesses can trust the systems they use.

For Tran Thi Thu Trang, general director of Song Ma Company, which operates Thu Do Sao Taxi, finance has supported successive stages of a much longer journey.

When she took responsibility for operating and financing the company in 2012, it had 76 vehicles. Securing bank support was difficult given her limited management track record and the company’s financial profile. An initial VPBank loan financed 12 second-hand cars, providing a foundation for further expansion.

Before the pandemic, the fleet had grown to nearly 700 vehicles. The pandemic subsequently disrupted the business, and Trang now faces another substantial decision: transitioning from petrol vehicles to electric mobility.

She returned to VPBank in late 2024 to finance that transition. Her experience suggests that lower operating costs can strengthen the commercial case for electric vehicles, but the upfront investment remains a hurdle. Financing costs and suitable repayment terms are, therefore, central to the pace at which the company can convert its fleet.

This is a concrete opportunity for financial providers to develop products around the business transitions, covering both including the investment required today and the savings expected over time.

For Tran Thi Vuong, founder and CEO of Thach An Food Processing, financial resilience begins with an agricultural harvest.

Her company processes black grass jelly grown in Cao Bang province. Building the business required investment in factories, equipment and food safety systems. When collateral requirements restricted borrowing, she sold some of her own land and property to continue.

As the company grew, purchasing raw materials became a recurring financing challenge. The crop is harvested essentially once a year, concentrating working capital needs into a short period. Vuong describes early unsecured financing from VPBank as a turning point.

In 2025, drought affected the growing areas. At that time, raw material prices rose by around 50 per cent. Timely finance helped the company continue purchasing supplies. Thach An now aims to maintain approximately two years of raw material reserves to protect production against poor harvests.

Her story connects financial services directly with climate adaptation. Working capital can help an enterprise prepare for supply disruption and maintain operations when weather affects production. Assessing that need requires understanding the agricultural cycle behind the balance sheet.

Photo: CARE

These experiences, shared through Strive Women, a four-year programme led by CARE and supported by the Mastercard Center for Inclusive Growth, point to a broader agenda for financial providers.

First, product design should reflect how businesses actually operate. Seasonal purchasing, regional expansion and fleet replacement require different structures and repayment schedules.

Second, lending assessments should give greater attention to business cash flow and prospects alongside collateral. Vuong’s experience shows how dependence on personal assets can constrain an entrepreneur even when she has a viable commercial opportunity.

Third, financial services should combine capital with practical support. Guidance on documentation, digital security, and financial management can help entrepreneurs use products effectively and make informed decisions.

Finally, success should be assessed through business outcomes as well as lending volumes. Can the entrepreneur manage a supply shock, invest in efficiency or pursue her next opportunity? And does she have greater control over her financial decisions?

Women entrepreneurs are already making decisions that shape enterprise growth, rural supply chains, and the green transition. Financial institutions can play a role in supporting these investments by responding to the business realities behind them.

When finance gives a woman greater capacity to plan and act, the benefits can extend beyond her business to employees, suppliers and customers. Investing in her financial wellbeing is an investment in the resilience of the economy.

This year's theme, "Transforming QS Practice in a New Era: Integrating Digital Construction, Collaborative Contracting and Payment Security", reflects the evolving role of Quantity Surveyors during a time of economic restructuring.

The Conference brought together around 200 participants both in person and online, including government officials, industry leaders, professionals, academics, and young practitioners.

LAU Chun Kit, Ricky, JP, Permanent Secretary for Development (Works) for Development Bureau of the HKSAR Government, attended as the Guest of Honour and delivered a keynote speech.

Quantity Surveyors are trained professionals with expert knowledge of construction costs and contracts who play a crucial role throughout the project development cycle, from investment feasibility studies and procurement strategy to commercial governance, contract administration, and dispute management. The seminar aims to explore how, amidst the ever-changing landscape of the digital revolution and the implementation of new legislation, quantity surveyors can evolve from their traditional roles in contract and cost management into enablers who drive successful value creation in construction projects.

LAU Chun Kit, Ricky, JP, Permanent Secretary for Development (Works), Development Bureau, said: "The theme of this year's conference is both timely and visionary. The Conference serves as a strategic platform for surveying practitioners and professionals to exchange insights, explore best practices, and formulate a collective vision for the future of the surveying profession. The insights and best practices generated will not only contribute in advancing the role of surveying profession in the new era, but also reinforcing Hong Kong's position as a leader in construction excellence."

The conference featured 20 distinguished speakers from Hong Kong Government bureaux and departments, the private sector, academia, professional institutions, and law firms to share their insights and best practices in the quantity surveying field. Through thought-provoking discussions, the event not only enhanced participants' technical knowledge but also catalyzed long-term cross-sector collaboration, empowering the industry to continuously deliver highly efficient and resilient built assets in the future."

Sr WAN Wai Ming, Tony, President of the Hong Kong Institute of Surveyors, noted in his welcome speech, "As the construction landscape undergoes profound shifts, quantity surveyors are evolving from traditional cost guardians into strategic value architects. Under this year's theme, we gather to explore emerging challenges, tackle critical issues, and seize new opportunities. Together, we redefine our professional identity, share actionable insights, and shape a forward-looking roadmap for the quantity surveying industry in Hong Kong."

Sr TING Yuen Chun, Eric, Chairman of the HKIS Quantity Surveying Division, acknowledged that the built environment is facing increasingly complex social and economic pressures. He emphasised that these challenges serve as an important reminder that, while technology is a vital enabler of progress, built-environment professionals must continue to apply their expertise and professional judgement, while strengthening collaboration across disciplines, to navigate change and deliver sustainable value to society.

Sr WONG Kin Yan, Winnie, Organising Committee Chair of the Conference stated in her closing remarks, "Developments in Collaborative Contracting, Digital Construction, and Payment Security present an opportunity for our profession to evolve beyond traditional cost management.

Today's quantity surveyors are increasingly called upon to serve as trusted advisers, driving collaboration, leading digital transformation, and championing transparency and fairness across the entire project lifecycle. By embracing these changes, we can continue to play a pivotal role in delivering sustainable, resilient and high-performing built assets for our community."

List of Speakers (in order of presentation delivery)

Keynote Speech by Guest of Honour

1. LAU Chun Kit, Ricky, JP, Permanent Secretary for Development (Works), Development Bureau, HKSARG

1. LEUNG Lap Ki, Francis, Team Leader (Trade & Procurement), Development Bureau, HKSARG
2. Sr CHOI Wing Chung, Hayman, Project Strategy and Delivery Leader (Asia), Mott MacDonald Hong Kong Limited
3. Ir LEUNG Cheuk Lun, NEC Strategic Advisor, Civil Engineering and Development Department, HKSARG
4. Ir WANG Yan Hua, Chairman and Managing Director, China Road and Bridge Corporation (Hong Kong)
5. Sr Yau Wan Fong, Deputy Director, WT Partnership (HK) Limited

1. WU Jin Ying, Technical Officer, Glodon (Hong Kong) Software Limited
2. Elvis LI, CEO, isBIM Limited
3. Ir NG Chun Keung, CEO, dRoW Limited
4. Put HUI, Senior Digital Transformation Lead, Innovative Technology, Gammon Construction Limited
5. Ronald CHAN, Head of Sustainability for APAC, Currie & Brown
6. Sr Sunny CHOI, Chairman of Digitalisation Sub-committee, Quantity Surveying Division, The Hong Kong Institute of Surveyors; Past Chairman of Quantity Surveying Division, The Hong Kong Institute of Surveyors (2021-2023)
7. Sr Dr Paul HO, Past Chairman of Quantity Surveying Division, The Hong Kong Institute of Surveyors (2005-2006)

1. Sr Tommy CHAN, Executive Director, Arcadis Hong Kong Limited
2. Cr Sr Ir ZA Wai Gin, Tony, Executive Director, Hip Hing Construction Co., Ltd.
3. Sr Hinson CHEUNG, Partner, Pinsent Masons
4. Sr Terry CHAK, Director of North Asia Region, Rider Levett Bucknall Limited
5. Sr TT CHEUNG, BBS, JP, Past President, The Hong Kong Institute of Surveyors
6. Sr CHONG Lui Chuen, Executive Committee Member, CSHK Professional Committee
7. Eric CHUNG, Barrister-at-Law, Pacific Chambers
8. Sr Prof LEUNG Hing Fung, Professor and Head, Department of Law and Business, Hong Kong Shue Yan University; Adjunct Professor, Department of Real Estate and Construction, University of Hong Kong; Barrister-at-law, Arbitrator and Mediator

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

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Eliminate Large Capital Expenditure and Improve Cash Flow Management

For growing businesses and startups, major investments in office equipment can significantly impact cash flow planning.

Under the monthly subscription model, businesses pay a fixed monthly fee to access professional-grade Brother printing equipment without making a substantial upfront investment. The service also does not impose a fixed monthly print volume limit, enabling organizations to adjust printing usage and device deployment according to operational needs. This flexibility helps businesses control costs more effectively while minimizing resource underutilization and wastage.

Flexible Multi-Device Deployment for Greater Departmental Productivity

For organizations with multiple departments or work teams, relying on a single shared printer can often result in wait times and reduced document processing efficiency.

Brother's Managed Print Service solution enables businesses to deploy multiple printers according to actual operational requirements. For example, administrative, human resources, finance, and sales departments can each be equipped with printers tailored to their specific needs. This helps minimize waiting time, reduce cross-department disruptions, improve workflow efficiency, and enhance document confidentiality.

The solution is also well-suited for organizations with multiple offices, retail outlets, or distributed business teams, providing centralized management of multiple devices while ensuring consistent technical support and after-sales service.

Proactive Consumables Replenishment Minimizes Business Disruptions

Many businesses have experienced workflow interruptions caused by depleted toner or consumables, potentially delaying important document production, customer service, and internal operations.

Brother's Managed Print Service automatically monitors printer performance and consumables usage, proactively arranging replenishment before supplies run low. For industries with high printing demands, such as insurance, financial services, logistics, professional services, and education, this not only reduces administrative workload but also minimizes inventory management and procurement-related tasks.

Designed for Hong Kong Offices and Hybrid Work Environments

As hybrid working becomes increasingly common, businesses require more flexible approaches to printer deployment.

Brother offers a range of compact yet feature-rich printers that are particularly suitable for Hong Kong's space-constrained office environments, departmental workspaces, and shared offices. With a smaller footprint while still meeting everyday business printing requirements, these devices help organizations make better use of valuable office space.

In addition, Brother provides remote technical support services to assist with device setup, network connectivity, and other technical issues, reducing the day-to-day support burden on IT teams.

Five Key Benefits of Choosing Brother "Managed Print Service"

• Reduce large upfront procurement costs and adapt flexibly to changing business needs
• Proactive consumables replenishment to minimize inventory management and purchasing efforts
• Maintenance and professional technical support to reduce equipment downtime risks
• Automated usage monitoring to lower administrative and management workload
• Compact printer design ideal for Hong Kong's limited office space

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

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

(From left) Lawrence Lam, Chief Executive Officer, Prudential Hong Kong Limited; Dr Maye Musk; and Angel Ng, Regional CEO, Greater China; Group Customer and Wealth, Prudential plc, at the Prudential Leadership Forum, where they shared perspectives on leadership, resilience and legacy planning across generations.

Nearly 1,000 VIP customers, young professionals, aspiring leaders and top-performing financial consultants came together for a conversation on resilience, reinvention and the values that shape lasting family legacies.

Opening the forum, Lawrence Lam, Chief Executive Officer, Prudential Hong Kong Limited, highlighted Prudential's commitment to customers: "Prudential has earned enduring trust with families by actively listening to their evolving needs across generations. Sustaining that trust requires a forward-looking vision, creating meaningful opportunities for customers to connect with visionary leaders and fresh perspectives. Dr Maye Musk's journey is a powerful reminder that experience, resilience and ambition can open new possibilities at every stage of life. "

The centerpiece of the day was an engaging fireside chat between Dr Musk and Angel Ng, Regional CEO, Greater China; Group Customer and Wealth, Prudential plc. Through the exchange, Dr Musk shared candid reflections on rebuilding her career across life stages and countries, empowering her three children to pursue their distinct ambitions, and wealth succession.

Reflecting on her journey, Dr Musk said: "Success is rarely a straight line. Throughout my life, I have had to start over, adapt and embrace new opportunities, often when others thought it was too late. What I have learned is that resilience is built through action, not certainty. Whether as a parent, a professional or a leader, our role is not to create a perfect path for the next generation, but to give them the confidence, values and independence to create their own. Lasting legacies are built not by removing challenges, but by helping others develop the strength to navigate them."

Angel highlighted Prudential's vision for legacy: "In today's rapidly evolving world, planning for the next generation is about more than passing on financial wealth. It is also about passing on the values and judgement that help them make informed decisions and pursue their aspirations. When families pair clear principles with the confidence to make their own choices, they can protect what they have built while creating a stronger foundation for generations to come. Prudential supports families in planning ahead, passing on their wealth with confidence, and building a brighter tomorrow."

Building on the theme of preparing for the future, the forum then turned to the city's distinctive advantages and emerging opportunities for talent through a panel discussion titled Hong Kong: Where Global Wealth and Talent Converge. Felix Chan, the Director of Hong Kong Talent Engage; and Jason Fong, Global Head of Family Office at Invest Hong Kong shared perspectives on how the leaders of tomorrow can learn, grow and thrive in Hong Kong.

By bringing together forward-looking perspectives and opportunities to engage with global leaders, Prudential continues to support customers at every stage of life, helping them plan for their health and financial wellbeing, protect what matters most, and build resilience for the future. This commitment is also reflected in value-added platforms such as PruNextGen, through which we support families in planning early for their children's future, broadening their horizons and laying the foundations for lifelong success.

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

Visit www.prudential.com.hk for more information.

Caption:Shanghai Electric's heavy-duty gas turbine makes its overseas debut

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

Against this backdrop, GreenYellow has signed an agreement with Vina Paper to deploy a rooftop solar system at its factory in Bac Ninh province. With a capacity of 2.036 MWp, the system is expected to generate approximately 2,306 MWh of clean electricity annually and avoid an estimated 1,520 tonnes of CO₂ emissions each year.

By generating clean electricity directly at the factory, the rooftop solar system enables Vina Paper to integrate renewable energy into its production processes, with solar power generated on-site and supplied closer to where electricity is consumed. This approach makes effective use of the factory’s existing rooftop space while diversifying its electricity supply and supporting more proactive energy management across its operations.

The groundbreaking ceremony of the rooftop solar project at Vina Paper. Photo: GreenYellow

Nguyen Thanh Cuong, engineering manager of Vina Paper said, “As energy management is an important priority for our manufacturing operations, we sought a robust and trusted partner to address this challenge. Collaborating with GreenYellow allows us to increase the use of clean energy while creating long-term value for our business and advancing our ESG ambitions”.

Vina Paper is one of Vietnam’s leading tissue paper manufacturers and a subsidiary of BJC, a leading Thai conglomerate. As part of BJC, Vina Paper shares a commitment to sustainable development. The partnership with GreenYellow represents the company’s concrete step in integrating renewable energy into its manufacturing operations.

Nguyen Xuan Thang, general director of GreenYellow Vietnam said: “As a strategic energy partner of MM Mega Market of BJC, we are honoured to expand our partnership with Vina Paper, a member of the BJC ecosystem in Vietnam. Beyond supporting Vina Paper’s energy transition, GreenYellow is proud to contribute to strengthening BJC’s green footprint in Vietnam.”

The project reflects GreenYellow’s continued commitment to turning its energy transition expertise into tangible impact and measurable results. Through an integrated platform of solar energy, energy storage, and energy efficiency, GreenYellow helps businesses at different stages of their energy transition from increasing renewable energy adoption to improving energy performance and building greater resilience for the future.

GreenYellow celebrates launch of rooftop solar project with TAL Apparel GreenYellow Vietnam announced the launch of its latest rooftop solar project on April 2 in partnership with TAL Apparel Limited, a global garment manufacturer, for its subsidiaries TAV Limited and VNG at Vietnam Garments Manufacturing Limited.

GreenYellow brings solar energy to light up remote schools in Tuyen Quang province GreenYellow Vietnam and its partners have donated rooftop solar systems integrated with battery energy storage units to two kindergartens in Tuyen Quang province, bringing light to classrooms where lightbulbs had never shone and electric fans had never once turned.

GreenYellow marks five years of clean energy growth in Vietnam GreenYellow celebrates five years in Vietnam, rapidly growing its footprint in clean and efficient energy solutions.

Driven by expanding production and trade, the global chemical warehousing market is projected to reach $122.29 billion by 2031, growing at a compound annual growth rate of 4.67 per cent from 2026 to 2031, according to market research firm Mordor Intelligence.

The market is shifting from simply expanding storage capacity toward developing specialised infrastructure that meets increasingly stringent safety standards for a wide range of products, from pharmaceuticals to hazardous chemicals.

Aligning with this trend, Vietnam’s chemical logistics market has maintained steady growth in recent years, serving the demand for material distribution and storage across agriculture, manufacturing, pharmaceutical, cosmetics, and renewable energy sectors.

According to the Vietnam Industry and Trade Information Centre under the Ministry of Industry and Trade, the chemical logistics market grew by an impressive 14.5 per cent in 2025. Professional logistics infrastructure has become a vital link in the competitiveness of the chemical industry, which has set a growth target of 10-11 per cent a year through 2030.

The Ministry of Industry and Trade sees new development opportunities for Vietnam’s chemical logistics sector under the Law on Chemicals and the Law on Environmental Protection. In warehousing, full compliance with safety regulations presents both challenges and opportunities for sustainable development.

To meet growing market demand, SOTRANS Logistics, a member of SOTRANS Group and ITL Corporation, broke ground on the SOTRANS Ho Nai Chemical Warehouse in Dong Nai in October 2025. The project is now in the final stretch toward operation.

SOTRANS Ho Nai Chemical Warehouse (Dong Nai) broke ground in October 2025 and is currently in the final stretch toward operation. Photo: ITL

Covering 26,400 square metres, the facility includes 16,200 sq.m of storage space with a capacity of up to 19,500 pallets. It will be Vietnam’s most advanced and safest chemical warehouse. Truong Hoang Son, warehouse project manager at SOTRANS Logistics (a member of SOTRANS Group and ITL Corporation) said, "The project was designed and operated based on the principles of Safety, Efficiency, and Sustainability."

Covering an area of 26,400 sq.m with a dedicated warehouse footprint of 16,200 sq.m and a capacity of up to 19,500 pallets, the project is positioned to be the most modern and safe chemical warehouse in Vietnam. Photo: ITL

Given the nature of chemical products, safety was incorporated from the design stage and will remain a priority throughout the warehouse’s operation. The SOTRANS Ho Nai Chemical Warehouse has multiple layers of protection, ranging from chemical-compatibility zoning and fire protection systems to spill control and technology-driven monitoring.

Most notably, the warehouse features a high-pressure water mist fire suppression system. High-capacity pumps produce ultrafine droplets measuring approximately 5–10 microns at a pressure of 60-80 bar (equivalent to 900-1,200 psi). This advanced system helps control and extinguish fires quickly while minimising damage to stored goods.

The warehouse also features an integrated system of trenches and containment tanks designed to prevent spilled chemicals from seeping into the surrounding environment. Smart management technology provides an additional layer of protection.

The Internet of Things (IoT) sensors enable real-time monitoring of temperature and humidity, as well as the detection of chemical gas leaks. AI supports hazard detection and early warnings. Meanwhile, a warehouse management system (WMS) tracks inventory, storage locations and the movement of goods, helping manage chemical groups with different properties.

Beyond meeting the highest operational safety standards, SOTRANS Ho Nai Chemical Warehouse pioneers a warehouse model designed to minimise environmental impact. Technologies including IoT, AI, and WMS help optimise energy use. The facility utilises electric forklifts, AGV/AMR automated solutions, and AS/RS systems to reduce manual labour, save energy and improve productivity.

“Applying technology helps reduce emissions and operating costs while improving transparency, meeting ESG criteria and building a smart, sustainable chemical warehousing model,” said Son.

Located in Dong Nai, the SOTRANS Ho Nai Chemical Warehouse benefits from connections to manufacturing hubs across Vietnam’s Southern Key Economic Region. Backed by SOTRANS’ more than 50 years of logistics experience, the project is expected to meet clients' specialised storage needs under the most rigorous safety and compliance standards.

Nguyen Thanh Nam, general director of SOTRANS Logistics, said, "Substantial investment in safety systems and a pioneering approach to sustainable transition will be its greatest strengths, helping SOTRANS Ho Nai Chemical Warehouse lead the market."

"This project represents SOTRANS Logistics' commitment to accompanying chemical industry enterprises toward safe and efficient development, while fostering a sustainable business environment for the community," he explained.

Sotrans Logistics breaks ground on new chemical warehouse in Dong Nai Sotrans Logistics has started construction on a new state-of-the-art chemical warehouse in Dong Nai province, aiming to expand its capacity and modernise storage facilities in Vietnam.

Larger frame of mind for logistics Throughout more than three decades of economic reform, Vietnamese companies from many sectors have been venturing abroad and become role models. Yet, the logistics sector remains too focused on the domestic market. Tran Thanh Hai, deputy director of the Ministry of Industry and Trade’s Agency of Foreign Trade, emphasised that local players should follow regional examples and take their business to international arena.

Singaporean company to expand ownership in Vietnamese logistics provider PSA Cargo Solutions Vietnam Investment offers to buy another 5,010,921 shares of Sotrans, while the bid price is not disclosed.

The workshop took place on October 2, bringing together representatives from government agencies, industry associations, businesses, research institutes, and universities to discuss the market landscape, development potential, and emerging opportunities, and to refine the report.

The consultation was organised in line with the government’s direction under Decision No.21/2026/QD-TTg, which prioritises the development of hydrogen technologies, and builds on Vietnam’s Hydrogen Energy Development Strategy to 2030, with a vision to 2050, issued under Decision No.165/QD-TTg. These initiatives aim to strengthen energy security, accelerate the green transition, and support the country’s commitment to achieving net-zero emissions by 2050.

Participants reviewed the draft report’s key findings against their practical experience and discussed ways to strengthen connections across Vietnam’s emerging clean hydrogen ecosystem.

At the workshop, the report’s expert team presented its preliminary findings on the current market landscape and potential, policy and regulatory frameworks, demand, investment prospects, barriers, and priority actions. Representatives of hydrogen producers and project developers, end-users, research organisations, and training institutions then shared perspectives across the clean hydrogen value chain, from production to consumption.

According to the draft report, Vietnam currently produces approximately 500,000 tonnes of hydrogen annually, meeting around 36 per cent of demand from oil refining and petrochemicals and 64 per cent of demand from fertiliser production. However, all current production relies on coal and natural gas, with no commercial-scale green or blue hydrogen projects yet in operation.

Vietnam’s national strategy targets annual hydrogen production of 100,000-500,000 tonnes by 2030 and 10-20 million tonnes by 2050. The gap between these policy ambitions and current implementation remains substantial, while highlighting significant potential to transform industries that already consume hydrogen.

Vietnam has considerable potential to develop clean hydrogen, supported by its wind and solar resources and its strategic position for trade with Northeast Asian markets. The draft report estimates that the technical offshore wind potential across the country’s exclusive economic zone stands at approximately 1,068 GW, the largest in ASEAN.

Across four priority areas: industry, transport, power generation, and exports, Vietnam’s hydrogen market could reach an estimated $100 billion by 2035, according to the draft report.

Within industry, oil refining and fertiliser production are considered potential early adopters because switching to cleaner hydrogen supplies would require changes primarily to their existing hydrogen sources. Steelmaking, meanwhile, represents a sector with substantial long-term hydrogen demand and an urgent need to decarbonise.

Vietnam’s hydrogen ecosystem is gradually taking shape, with participation from state-owned and private enterprises, international partners, and domestic support organisations. The draft report identifies four emerging regional development corridors, each with a potential specialisation: Quang Te–Hue, centred on wind power; Ninh Thuan–Binh Thuan, focusing on solar power and exports; Tra Vinh–Ben Tre, leveraging diverse energy sources, including Mekong Delta biomass; and Ba Ria–Vung Tau, focusing on blue hydrogen linked to existing oil and gas infrastructure.

Globally, the draft report cites estimates valuing the hydrogen market at approximately $229.53 billion in 2025, with the figure projected to reach $406.95 billion by 2034.

The market is also shifting from expectations towards commercial deployment, with greater emphasis on projects backed by firm offtake agreements and viable financing structures. This trend offers a practical lesson for Vietnam as it develops a pipeline of clean hydrogen projects.

Despite its potential, Vietnam faces several challenges in developing a commercially viable clean hydrogen market. Electricity accounts for an estimated 60-70 per cent of the levelised cost of hydrogen production through electrolysis. Other constraints include transmission bottlenecks in areas with strong renewable energy resources, the limited availability of dedicated hydrogen infrastructure, and differing levels of technological maturity. Alkaline electrolysis is already commercially established, while several other technologies still require further testing.

Financing and market demand also remain significant obstacles. According to a Ministry of Industry and Trade survey cited in the draft report, more than 58 per cent of businesses consider hydrogen important, but 68 per cent have yet to undertake substantial activities in the sector. The report attributes this gap to a lack of offtake mechanisms, price-support instruments, and long-term financing.

Institutional arrangements present further challenges, with state management of hydrogen distributed across multiple ministries and agencies. The time required to obtain in-principle investment approval and permits for an industrial hydrogen project currently ranges from 12 to 36 months, according to the draft report.

The report also reviews hydrogen projects and initiatives proposed or under development in Vietnam, assessing their readiness for commercial investment. Its preliminary findings indicate that most projects remain at the formation stage or are still working to meet the conditions required for implementation, while only a limited number appear ready to advance towards implementation in the near term.

This suggests that the key challenge is less about the number of hydrogen initiatives than about improving project readiness. Priorities include establishing technical and financial viability, securing end-markets and offtake arrangements, streamlining licensing procedures, and developing the necessary infrastructure. Progress in these areas would help projects reach final investment decisions and attract commercial financing.

Photo: NIC

To address these challenges, the draft report proposes eight groups of priority actions. These include completing the legal framework by defining clean hydrogen based on carbon intensity and introducing a one-stop licensing mechanism; strengthening inter-agency coordination; introducing demand-creation instruments; establishing foundational financial instruments and a system for certifying the origin of hydrogen; implementing regulatory sandboxes; directing support towards priority projects; developing shared infrastructure ahead of demand; and expanding targeted international cooperation.

These recommendations formed the basis for consultation and discussion at the workshop. Participants exchanged views on the report’s findings and recommendations, the development of clean hydrogen markets and applications, financing needs, infrastructure and project development, as well as opportunities for international cooperation and partnerships. The expert team will consolidate the feedback to inform the finalisation of the report.

Speaking at the opening session, Do Tien Thinh, deputy director of the National Innovation Centre (NIC), said that turning strategic ambitions into a functioning market would require coordination among multiple stakeholders.

“Moving from strategic direction to a functioning market requires coordination among many stakeholders. As a central connector within Vietnam’s national innovation ecosystem, NIC aims to provide a platform for regulators, businesses, investors, research institutes, and universities to engage in dialogue and take joint action, contributing to the development of Vietnam’s clean hydrogen market. We hope the candid, practical contributions from participants will help make the report a valuable reference document,” he said.

Juhern Kim, Global Green Growth Institute's (GGGI) country representative in Vietnam, said the country had established a clear strategic direction for clean hydrogen, with the next step being to identify commercially viable opportunities and define its longer-term position in the emerging global hydrogen economy.

“This includes identifying priority sectors, markets where clean hydrogen can generate economic value, and the conditions needed to attract investment into projects today, while building partnerships for the future,” he said.

Kim added that, with support from the Korea Green New Deal Trust Fund, GGGI and NIC were connecting stakeholders across policy, finance, technology, and industry to assess Vietnam’s hydrogen development opportunities from multiple perspectives. The work aims to identify commercially viable opportunities and the challenges that need to be addressed.

The consultation workshop on the “Clean Hydrogen Market in Vietnam” report is part of NIC’s 2026 work plan, reflecting its role in connecting stakeholders and supporting innovation ecosystems in emerging technology sectors, including green energy and clean hydrogen.

More than a sales gallery, the space is designed to give customers and partners a fuller picture of the brand, its project portfolio, and how MIK builds residential communities.

The opening ceremony of House of MIK on the 25th floor of Riverfront Financial Centre, Ho Chi Minh City. Photo: MIK Group

The name reflects that spirit. 'House' conveys warmth and familiarity while evoking the idea of home and everyday living – values at the heart of MIK Group's business. The venue also serves as a destination with its own brand identity, created to host the group's key activities in the south as it enters its next stages of growth.

Located in the heart of Ho Chi Minh City, House of MIK offers sweeping views over the city centre and the Saigon River. The space is designed to feel welcoming and open while remaining private and polished, comprising reception, consultation, exhibition, and lounge areas where customers and partners can learn more about the group, hold discussions, and meet.

At House of MIK, customers can do more than learn about individual projects. They can see first-hand how the brand approaches real estate, from the quality of its spaces and the experiences it offers to the living values MIK stands for. The launch reflects MIK Group’s carefully planned investment in raising the quality of its customer touchpoints and in creating a space that matches its long-term ambitions in the south.

MIK Group leaders and guests raise a toast to House of MIK. Photo: MIK Group. Photo: MIK Group

Speaking at the event, Nhan Huu Hoc, CEO of MIK South, said, “The south is a key market in MIK Group’s long-term development strategy. With House of MIK, we want to create a space where customers and partners can better understand how MIK develops its projects, the values we pursue, and the standards we intend to keep setting in this market. The experience we have built up over the years will be the foundation for MIK Group’s next phase in the south, where expectations for quality and experience continue to rise.”

To mark the opening, MIK Group is presenting an exhibition and experiential programme themed 'Living in Motion by the South – Song dong mot mien Nam,' inspired by the waterways that helped shape southern Vietnam. Created for the occasion, it guides visitors through the story of the region, its people, and the milestones MIK Group has achieved over more than a decade.

The journey begins with the installation 'Song dong mot mien Nam' (A Vibrant South) by young artist collective ENOD, which uses the boat as its central visual motif. Recalling generations of life along the rivers, the work evokes a current in constant motion, where silt, people, and culture flow together to shape the character of the south.

Next comes Living in Motion by the South, an interactive zone where nature, the city, and people come together in real-time motion. As visitors step into the zone, their silhouettes become part of the landscape on screen, creating an interplay between people, nature, and the rhythm of urban life.

In the MIK in Motion area, the group’s signature projects from northern to southern Vietnam are presented through an artistic lens, tracing how MIK Group has steadily refined its development approach and built up its internal strength over the years. The exhibits are interspersed with House of MIK’s lounges and reception areas, creating a seamless experience that also accommodates customer consultations and meetings.

The MIK in Motion area showcases MIK Group’s signature projects from more than a decade of development. Photo: MIK Group

Rounding off the experience is Humans of MIK, which looks back on the group’s journey of more than a decade through the eyes of residents, partners, and MIK staff. Drawing on real stories and experiences from its existing communities, MIK reflects on the values it has nurtured in people’s daily lives, and carries that foundation forward into a new chapter in the south.

Along the way, the Imperia Sensa Park scale model offers visitors a glimpse of MIK Group’s next chapter in the south. As the first project in the group’s I series line in the southern market, Imperia Sensa Park is set to become a flagship development that opens a new phase of growth. For this undertaking, MIK Group has set stringent requirements for product quality, handover standards, and living experience, building on a proven track record to establish a benchmark for its future projects in the region.

The opening of House of MIK marks an important milestone in MIK Group’s southern strategy, underscoring its commitment to a long-term presence and its determination to keep raising the bar for products, living experiences, and communities in this market.

Vietnam faces sharper competition in global manufacturing reshuffle Vietnam remains among the top manufacturing destinations in Southeast Asia, but competition for new production investment is intensifying as neighbouring economies strengthen their industrial ecosystems, speakers said at the sixth Vietnam Industrial Property Forum.

A competitive advantage for next-generation industrial parks At the third session of the sixth Vietnam Industrial Property Forum, co-organised by Vietnam Investment Review and the Vietnam Industrial Real Estate Association in Ho Chi Minh City on September 29, experts and business representatives discussed how to build competitive advantages for next-generation industrial areas.

Green Future Awards honour five leading industrial park developers Five enterprises have been honoured in the Leading Green Industrial Property Developers in 2026 category at the Green Future Awards 2026, held as part of the Vietnam Industrial Property Forum 2026.

Phu Quoc is emerging as a focal point of this shift, with infrastructure expansion ahead of APEC 2027 expected to improve international connectivity and create opportunities for the island's tourism sector.

Speaking at the Meet The Experts conference in Hanoi on October 1, Mauro Gasparotti, founder of WeHub and host of the MTE Events Series, said the market is shifting towards larger, mixed-use developments that combine hotels, branded residences, and second homes with supporting amenities.

“The ones we are seeing coming up are integrated mixed-use townships. They contain hotels, branded residences and second homes, becoming destinations in their own right and offering everything within one development,” he said.

The trend comes as smaller, independent developers face a more challenging market, according to Gasparotti, while larger projects seek to establish new tourism and lifestyle destinations.

Branded residences are another area of growth. Gasparotti said Vietnam had overtaken Thailand in the pipeline of condotel and branded-residence projects, reflecting the country’s growing role in a segment that is expanding rapidly across Asia-Pacific.

He also identified a shift towards more affordable luxury, wellness-oriented living and multi-generational accommodation. These trends reflect changing expectations among buyers and travellers, with families increasingly seeking spaces and facilities that cater to different age groups and lifestyles.

These changes in the broader hospitality market are creating opportunities for all-inclusive resorts, which combine accommodation, dining, leisure activities and entertainment within a single destination.

For Seng Soon Chuah, director of development for South-East Asia and Pacific at Club Med, the concept goes beyond full-board accommodation. It is about giving guests the freedom to choose how they spend their time, from organised activities to simply relaxing at the resort.

“All-inclusive means you can come to a resort and enjoy the option of doing nothing or doing everything you want,” Chuah said, citing activities such as yoga, sports, dining and entertainment.

The model also aligns with Vietnam’s strong family travel culture, particularly the growing appeal of multi-generational holidays. Different age groups can share a destination while pursuing activities suited to their interests, with children joining supervised programmes and older family members enjoying a more relaxed pace.

This flexibility is becoming an important consideration in resort development, as travellers increasingly look for experiences that go beyond accommodation alone.

International hotel groups are also exploring opportunities to expand the model in Vietnam. Susanna Mander, global director of brand expansion at Melia Hotels International, said the group had introduced all-inclusive offerings at destinations including Ho Tram and Nha Trang, while continuing to assess opportunities in the market.

She also pointed to the potential of branded residences and affordable luxury as operators seek to serve a wider range of customers.

For Club Med, location and partnerships remain important factors in expansion decisions. Chuah identified Danang and Hue as destinations of interest, while noting that the company was looking for suitable partners and locations.

Photo: Hara Nguyen

Among Vietnam’s resort destinations, Phu Quoc is attracting particular attention as infrastructure development accelerates ahead of APEC 2027.

The island’s development reflects a broader strategy of building infrastructure and tourism facilities in emerging destinations, rather than concentrating investment solely in established urban centres.

Daniel Trinh, deputy chief commercial officer and chief business development officer at Sun Group, said the company had pursued this approach since entering Danang in 2007 and Phu Quoc in 2014.

“Once infrastructure is in place, it benefits everyone,” Trinh said, explaining that transport and supporting facilities were intended to help unlock the potential of the wider destination.

Sun Group took over operations of Phu Quoc International Airport’s existing terminal on January 1. The company plans to open Terminal 2 in April 2027, in cooperation with Changi Airport, to serve demand associated with APEC and the island’s broader tourism growth. The company has also invested in other infrastructure and transport facilities on the island.

Improved air connectivity is particularly important for resort operators, whose performance depends on the destination’s ability to attract visitors from domestic and international markets.

Armand Steinmeyer, vice president of development for Southeast Asia at Radisson Hotel Group, said the expected expansion in air capacity was positive for Phu Quoc’s hospitality market. For international operators, better connectivity creates opportunities to bring in guests through established distribution networks and loyalty programmes.

Radisson Blu Phu Quoc and other branded properties could benefit from the destination’s growing international profile, he said, particularly as the group looks to expand its presence in Southeast Asia.

However, greater capacity and a growing number of hotel projects will also intensify competition.

“We expect increased competition and potentially greater challenges for occupancy and average daily rates,” Steinmeyer said. “There will also be a period of absorption, which may be more turbulent before the market settles.”

He added that stronger branding and access to international distribution networks could help independent hotels compete as the market becomes more crowded.

Venessa Koo, vice president of business development at The Ascott Limited, similarly highlighted the importance of air transport in supporting investment decisions. She said Sun Group’s development of Phu Quoc Airways and its understanding of target markets had strengthened operators’ confidence in the destination.

Without sufficient air connectivity, she suggested, committing to a large portfolio of hotel rooms would be considerably more difficult.

Photo: Hara Nguyen

As investment accelerates, the challenge for Phu Quoc will be to ensure that new resorts respond to the island’s tourism potential and local character, rather than relying solely on additional room capacity.

Thu Le, CEO of T&T Hospitality, said demand and the needs of visitors should guide development decisions. The company is considering projects on two land plots in Phu Quoc, including one spanning more than 100 hectares, with an emphasis on incorporating Vietnamese culture and architecture.

Its concept includes elements of a traditional fishing village, with spaces designed to accommodate local fishing communities and their activities.

“Before approaching an operator, we need to be clear about the overall concept of the resort, the target customers and how the project can benefit Vietnam’s tourism sector as a whole,” she said.

This approach points to a broader consideration for integrated resort development: combining international hospitality standards with a distinctive local identity.

For Phu Quoc, APEC 2027 could provide a near-term catalyst for infrastructure investment and international exposure. The longer-term opportunity, however, will depend on the island’s ability to convert improved connectivity and rising visitor interest into sustainable demand.

As Vietnam’s hospitality market moves towards integrated destinations and experience-led accommodation, the success of Phu Quoc will hinge on how effectively developers, operators and local stakeholders coordinate investment, differentiate their offerings and build a destination that remains attractive beyond major events.

MTE conference to explore emerging hospitality and real estate trends Global challenges and uncertainty are clouding markets worldwide, yet Vietnam’s hospitality sector has been one of the strongest performers globally, supported by strong interest from both international visitors and investors.

Themed 'Peranakan in Bloom', the event celebrates Peranakan culture through immersive experiences, creative activities, and a showcase of Singaporean brands.

Peranakan culture, a centuries-old tradition closely associated with Singapore's multicultural heritage, reflects a blend of Chinese and Malay influences. Its rich legacy can be seen in distinctive architecture, cuisine, traditional attire, and artisanal crafts.

Rajpal Singh, Singaporean Ambassador to Vietnam explained that the theme is particularly fitting.

“Singapore is home to a rich diversity of cultures and traditions, each of which has contributed to the Singapore we know today. Peranakan culture is an important part of that story, with its distinctive traditions, from the kebaya and intricate craftsmanship to its much-loved cuisine, reflecting the blending of different cultural influences over generations,” said Singh.

“Peranakan heritage is a key part of Singapore’s cultural heritage and reflects our wider Southeast Asian connections. This was illustrated in 2024, when the kebaya was inscribed on UNESCO’s Representative List of the Intangible Cultural Heritage of Humanity, following a joint nomination by Brunei Darussalam, Indonesia, Malaysia, Singapore, and Thailand,” he added. “It is a fitting reminder that while our cultures across Southeast Asia are distinct, they are also closely connected.”

Singapore Festival 2026 launched in Hanoi on October 2. Photo: Oganiser

Inspired by the distinctive colours, motifs, and traditions of Peranakan culture, Hanoi Centre has been transformed into a vibrant cultural space where heritage meets contemporary experiences.

Visitors can explore Peranakan culture through a multisensory journey, from discovering traditional fashion and trying on Peranakan-inspired outfits, to capturing memorable moments at an AI Photobooth featuring a Peranakan-inspired setting.

With the support of the Singapore Embassy in Vietnam, Joseph Low, chief representative in Vietnam and president, Vietnam Real Estate at Keppel, said the company was pleased to collaborate with Singapore Tourism Board and the Singapore Global Network to bring the inaugural Singapore Festival to Hanoi Centre.

“Through this festival, we aim to create meaningful experiences that bring people and cultures together, while strengthening the cultural, commercial, and community connections between Vietnam and Singapore. As a destination where cultures converge, Hanoi Centre offers a vibrant platform for visitors to discover Singapore through new and engaging experiences,” he added.

Complementing the immersive experience, the festival features a range of creative workshops such as handmade ceramic tile painting, Ondeh Ondeh dessert-making and ice cream sandwich-making inspired by Singapore’s popular treat. Visitors can take part in interactive activities such as collecting stamps to redeem gifts, exchanging receipts for special rewards, as well as enjoy various exclusive offers across the mall.

Photo: TWG Vietnam

Adding to the Singaporean experience, the Singapore Fair showcases a selection of products and brands from Singapore, including Motherswork, Bee Cheng Hiang, Singshiok, Baked and Friends, BreadTalk, and TWG.

At the event, premium tea brand TWG also revealed plans to open its first store in Hanoi in 2027. The brand is currently selecting a partner to establish a presence at a shopping mall in Hanoi.

Throughout Hanoi Centre, specially designed installations featuring Merli, Singapore’s Merlion mascot, add a playful touch to the festival. Beyond creating photo-worthy moments, these installations invite visitors to discover the stories behind Singapore's distinctive cultural icons and traditions, creating a deeper connection with the festival experience.

Keppel advances its next chapter in Hanoi Once known primarily as a real estate developer in Vietnam, Singapore-headquartered Keppel has transformed into a global asset manager and operator, expanding its footprint beyond property into energy, infrastructure, and digital connectivity.

Keppel launches IKONIC lifestyle rewards platform Keppel, a global asset manager and operator, on September 27 launched IKONIC, an experience-led lifestyle rewards platform designed to deliver more personalised shopping experiences across its managed retail portfolio in Vietnam.

Keppel officially opens Hanoi Centre retail mall Hanoi Centre, Keppel's first retail project in the capital, has celebrated its grand opening with a ceremony attended by senior officials and executives.

This was reported at the first meeting of the steering committee for key projects in the fields of industry, trade, and construction took place on October 1.

At the meeting, Deputy Minister of Industry and Trade Truong Thanh Hoai stated that key energy projects are currently distributed across different stages and there are significant discrepancies in progress.

Of the 18 LNG power plant projects under monitoring with a total capacity of over 20,000 MW, 16 projects have completed the investor selection process, while the remaining two projects, namely Nghi Son LNG and Long Son LNG, still have not selected investors.

Even in May, Nghi Son Economic Zone Management Authority had to cancel the bidding to select the investors for the Nghi Son LNG-fired thermal power plant for the third time, as zero dossiers were submitted.

Of the 16 projects that already have investors, only two have actually commenced construction, while 14 are still in the process of finalising investment preparation steps.

Minister of Industry and Trade Le Manh Hung stated that only the Hiep Phuoc LNG project is considered likely to meet the schedule.

In March, EVN and Hiep Phuoc Power Co., Ltd. signed the Power Purchase Agreement (PPA) and held a groundbreaking ceremony for the plant in Hiep Phuoc commune, Ho Chi Minh City. This is the second PPA in the LNG power sector in Vietnam, following the Nhon Trach 3 and 4 projects.

It is also the first LNG PPA implemented under Decree No.56/2025/ND-CP, which establishes preferential mechanisms for imported LNG power plant development. The event marks a step forward in completing the legal framework and boosting LNG power projects in Vietnam.

Meanwhile, the vast majority of the remaining projects are facing numerous obstacles related to investment preparation procedures, land clearance, capital arrangement, and negotiations of PPAs, along with accompanying technical conditions.

Due to the unique nature of the gas-electricity chain, delays in one component risk directly affecting the entire supply chain. Therefore, the Ministry of Industry and Trade is required to have a thorough review of each project's completion capacity to promptly develop appropriate alternative power source options, ensuring national energy security.

At the meeting, Deputy Prime Minister Pham Gia Tuc requested the development of specific timelines for each energy project, from investment preparation and decision-making to the selection of engineering – procurement - construction contractors and commercial operation date (COD).

DPM Tuc noted that monitoring and supervision should not only be based on the final COD milestone but should also track each stage throughout the entire implementation process to identify and address pending issues early.

Ca Mau approves investment in 500kV Bac Lieu–Thot Not power line Ca Mau People's Committee approves investment in the 500kV liquefied natural gas Bac Lieu–Thot Not power line, which is invested by National Power Transmission Corporation.

MoIT to resolve issues for Long An I and II LNG power plants The Ministry of Industry and Trade will collaborate with Tay Ninh province to resolve obstacles related to land, finance, and power purchase agreements to ensure the early commencement of the Long An I and II LNG power plants.

Petrovietnam, PV GAS and Nebula Energy partner on LNG-powered data centre On July 28, Petrovietnam, PV GAS and Nebula Energy signed a cooperation agreement to explore an integrated data centre utilising LNG infrastructure at Vung Ang Economic Zone, Ha Tinh.

KN Energies and INDEL Corporation sign MoU in energy and infrastructure On July 28, Lithuanian terminal operator AB KN Energies and Vietnam-based INDEL Corporation signed an MoU to establish an energy and infrastructure cooperation framework in Vietnam.

Investors in $2.2 billion Quynh Lap LNG project assigned urgent missions Nghe An People's Committee requires the consortium of investors of the Quynh Lap LNG thermal power plant to complete certain urgent missions in September to accelerate the project.

Land clearance contract for new thermal power plant to be signed Nghe An People's Committee require the consortium of investors in the Quynh Lap LNG thermal power plant to sign the land clearance contract with the local authorities before September 25.

Photo: Manh Tuan

At the meeting, Minister Tuan acknowledged the contributions of the Japan Bank for International Cooperation (JBIC) to Vietnam’s economic development, including financing for 16 projects through loans totalling more than $3 billion, particularly in energy, infrastructure, and construction materials. He also recognised the bank’s role in providing policy advice.

For his part, Tadashi praised Vietnam’s strong economic performance, noting that the country was among the fastest-growing economies in the region. He also highlighted Politburo resolutions supporting Vietnam’s future growth, including Resolution No.68-NQ/TW on private-sector development and Resolution No.10-NQ/TW on the development of the foreign-invested economy.

Maeda said that mobilising and harnessing private-sector resources would be essential for Vietnam to sustain high growth over the next 10–20 years and beyond.

“JBIC stands ready to cooperate with and support Vietnam in line with the Vietnamese government’s development policy orientations. We will also ensure that such cooperation is innovative and sustainable,” he said.

He also noted that the rapid development of AI was driving significant changes, including rising electricity demand from data centres. Meanwhile, disruptions to fuel supply chains underscored the need to strengthen the resilience of energy systems, an issue he said Vietnam also needed to address.

Regarding support for Vietnam’s energy projects, Maeda said JBIC was considering financing arrangements that would not require government guarantees for gas-fired power and liquefied natural gas (LNG) power projects in Vietnam.

However, these projects would require funding in US dollars while generating electricity sales revenue in VND, exposing investors to foreign exchange risks. He called on the Vietnamese side to consider appropriate solutions to address this issue.

Minister Tuan welcomed the proactive efforts of the Japanese government and JBIC to advance the Powering and Optimising Worldwide Energy Resources through Resilient and Renewable Energy (POWERR ASIA) initiative and the Asia Zero Emission Community (AZEC), which aim to promote decarbonisation and strengthen the resilience of energy and mineral supply chains.

Minister Tuan called on Maeda and JBIC to continue identifying projects that could receive support, including liquefied natural gas power projects. "The MoF would study appropriate mechanisms to address foreign exchange risks," he said.

Vietnam also plans to establish a strategic energy and oil and gas reserve centre in Quang Ngai province and is developing the relevant mechanisms. The minister expressed the hope that JBIC would actively participate in mobilising capital and establishing an appropriate cooperation framework for the centre.

Minister Tuan said, "Meeting the capital requirements for double-digit economic growth would require total social investment equivalent to at least 40 per cent of GDP annually, alongside improvements in capital efficiency. Vietnam aims to reduce its incremental capital-output ratio from 6.4 to 4.5–4.8."

“The target is to double the scale of capital mobilisation and double the efficiency of capital utilisation compared with the previous period. International financing through international financial institutions and foreign investors therefore plays a particularly important role. JBIC’s support through AZEC and POWERR ASIA is highly significant for Vietnam,” the minister added.

According to the MoF’s estimates, every 1 per cent increase in Vietnam’s GDP requires electricity output to grow by a factor of 1.2-1.5. This translates into substantial capital requirements for power generation and transmission networks.

To meet its development needs, Vietnam is seeking a broad range of funding sources, including international capital markets through the issuance of government bonds overseas.

The MoF has been working closely with international credit rating agencies and recently conducted roadshows in the United Kingdom, Europe, and the United States. During Party General Secretary and State President To Lam’s planned visit to Japan in November, the ministry also expects to meet Japanese investors.

Photo: Manh Tuan

Maeda said JBIC had expanded and adjusted its operations to reflect changing market conditions and the rapidly evolving global financial environment. The bank has also expanded into venture capital, supporting early-stage startups through its own funds and partnerships with other organisations.

In response, the MoF minister said Vietnam was actively implementing Politburo Resolution No. 57-NQ/TW, which promotes science and technology, innovation, and digital transformation as key drivers of future economic growth.

The minister expressed his hope that JBIC would finance Vietnamese companies that eventually achieve unicorn status. He also called on the bank to use its extensive experience and international network to introduce more Japanese investors to Vietnam.

He added that the MoF was accelerating efforts to translate Resolution No. 10-NQ/TW on the development of the foreign-invested economy into legislation through amendments to the Investment Law, which were scheduled to be submitted to the National Assembly for approval at its mid-October session.

The amendments are intended to facilitate investment in Vietnam, particularly in green and digital transformation, labour productivity improvements, and stronger links between Vietnamese enterprises and foreign-invested companies.

Vietnam-Japan cooperation moves towards results-driven innovation From semiconductor workforce development and the establishment of innovation spaces to concrete technology projects, Vietnam-Japan cooperation is shifting towards deeper collaboration and tangible outcomes.

Japanese firms maintain resilient deal activity in Vietnam Vietnam-Japan mergers and acquisitions activity has remained steady despite global geopolitical tensions and rising oil prices, with a new asset management joint venture announced between Amova Asset Management and BIDV Securities.

Local partnerships set to boost Vietnam-Japan investment ties Prime Minister Le Minh Hung has urged Vietnamese and Japanese localities to shift from "cooperation" to "co-creation," as the two countries seek stronger investment flows following last week's Vietnam-Japan Local Cooperation Forum in Hue city.