Together, the companies aim to develop industrial and physical AI solutions that will bring AI-driven innovation to every industry and industrial workflow, as well as accelerate each other’s operations.

Siemens and NVIDIA expand partnership to build industrial AI operating system
CEOs of Siemens AG and NVIDIA

To support development, NVIDIA will provide AI infrastructure, simulation libraries, models, frameworks, and blueprints, while Siemens will commit hundreds of industrial AI experts and leading hardware and software.

“Together, we are building the industrial AI operating system, redefining how the physical world is designed, built, and run, to scale AI and create real-world impact,” said Roland Busch, president and CEO of Siemens AG.

“By combining NVIDIA’s leadership in accelerated computing and AI platforms with Siemens’ leading hardware, software, industrial AI, and data, we’re empowering customers to develop products faster with the most comprehensive digital twins, adapt production in real time, and accelerate technologies from chips to AI factories,” he said.

“Generative AI and accelerated computing have ignited a new industrial revolution, transforming digital twins from passive simulations into the active intelligence of the physical world,” said Jensen Huang, founder and CEO of NVIDIA. “Our partnership with Siemens fuses the world’s leading industrial software with NVIDIA’s full-stack AI platform to close the gap between ideas and reality,- empowering industries to simulate complex systems in software, then seamlessly automate and operate them in the physical world.”

Accordingly, Siemens and NVIDIA will work together to build AI-accelerated industrial solutions across the full lifecycle of products and production, enabling faster innovation, continuous optimisation, and more resilient, sustainable manufacturing.

The companies aim to build the world’s first fully AI-driven adaptive manufacturing sites globally, starting in 2026 with the Siemens Electronics Factory in Erlangen, Germany, as the first blueprint.

Using an “AI Brain”, powered by software-defined automation and industrial operations software, combined with NVIDIA Omniverse libraries and NVIDIA AI infrastructure, factories can continuously analyse their digital twins, test improvements virtually, and turn validated insights into operational changes on the shop floor.

This results in faster, more reliable decision-making from design to deployment, raising productivity while reducing commissioning time and risk.

The companies aim to scale these capabilities across key verticals and several customers are already evaluating some of the capabilities, including Foxconn, HD Hyundai, KION Group, and PepsiCo.

With the partnership expansion, Siemens will complete GPU acceleration across its entire simulation portfolio and expand support for NVIDIA CUDA-Xlibraries and AI physics models, enabling customers to run larger, more accurate simulations faster.

By applying industrial AI operating logic to semiconductors and AI factories, Siemens and NVIDIA will accelerate the engines of the AI revolution.

Starting with semiconductor design and building on NVIDIA’s extensive use of Siemens’ tools, Siemens will integrate NVIDIA CUDA-X libraries, PhysicsNeMo, and GPU acceleration across its EDA portfolio with a focus on verification, layout, and process optimisation, to target 2-10x speed-ups in key workflows.

Siemens and NVIDIA will also jointly develop a repeatable blueprint for NextGen AI factories, accelerating the industrial AI revolution and providing the high-performance foundation for their AI-accelerated industrial portfolios.

This blueprint will balance the next-generation high-density computing demands for power, cooling, and automation while ensuring technologies are well positioned for both speed and efficiency, and optimising the full lifecycle, from planning and design to deployment and operations.

The combined effort bridges NVIDIA’s AI platform roadmap, AI infrastructure expertise, partner ecosystem, and the accelerated power of NVIDIA Omniverse library-based simulation with Siemens’ strengths in power infrastructure, electrification, grid integration, automation, and digital twins.

Together, the companies aim to accelerate deployment, increase energy efficiency, and improve resilience for industrial-scale AI infrastructure worldwide.

Siemens and NVIDIA aim to accelerate each other’s operations and portfolios by implementing technologies on their own systems before scaling them across industries.

Along with this, NVIDIA will assess Siemens offerings to streamline and optimise its own operations and offerings, and Siemens will assess its own workloads and collaborate with NVIDIA to accelerate them and integrate AI into Siemens’ customer portfolio.

By accelerating one another and improving themselves, Siemens and NVIDIA are creating concrete proof points of value and scalability for customers.

Siemens and AIT unveil digital switchboard tailored for high-end clients Siemens and AIT unveil digital switchboard tailored for high-end clients

Siemens Vietnam and AIT Corporation have launched the SIVACON S8, a next-generation digital main switchboard, in Ho Chi Minh City.

How smart infrastructure and digitalisation power the systemic transition How smart infrastructure and digitalisation power the systemic transition

As COP30 in Brazil underscored the urgency of climate action, Dr. Thai-Lai Pham, CEO of Siemens ASEAN and Vietnam, shares how smart infrastructure and digitalisation are driving systemic change. Drawing on insights from the Siemens Infrastructure Transition Monitor 2025, he highlights pathways to decarbonisation, resilience, and a sustainable future.

VinSpeed and Siemens strengthen cooperation for high-speed rail development VinSpeed and Siemens strengthen cooperation for high-speed rail development

VinSpeed ​​High-Speed ​​Railway Investment and Development JSC (a member of Vietnam’s leading conglomerate Vingroup) and Siemens Mobility signed a deal on December 17 in Hanoi, launching a broad cooperation for high-speed rail in Vietnam.

GELEX is the first enterprise to receive an outlook upgrade from VIS Rating in the 2025 rating cycle, issued on January 6, and among the rare cases to achieve such an improvement within less than one year. This reflects the group’s above-average pace of improvement in financial quality and operating performance, at a time when credit assessment standards are becoming increasingly stringent. The upgrade also recognises GELEX’s governance capability, adaptability, and potential for further rating improvement in the medium term.

GELEX’s credit rating outlook upgraded to 'Positive' by VIS Rating
VIS Rating has upgraded GELEX’s long-term A rating outlook from “Stable” to “Positive”

The maintained A rating, together with the upgraded outlook, reflects expectations that GELEX’s revenue and operating cash flows will continue to strengthen over the next 12-18 months, supported by the solid fundamentals of its core businesses in electrical equipment and building materials.

From 2024 through the first nine months of 2025, GELEX recorded nearly 15 per cent revenue growth, significantly exceeding the average growth rate from 2021-2023. The group’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin improved to approximately 23 per cent, indicating continued enhancements in operating efficiency and cost management at the consolidated level.

The electrical equipment segment remains the primary growth driver for GELEX. Through market expansion, new product development, and optimisation of its manufacturing value chain, the group has significantly increased its industry market share.

In particular, CADIVI, GELEX’s key subsidiary in power cables, expanded its presence in northern Vietnam from early 2024, contributing to a higher nationwide market share in the power cable segment. Supported by scale expansion and improved production efficiency, the EBITDA margin of the electrical equipment segment increased sharply from around 13 per cent to over 20 per cent in the first nine months of 2025.

GELEX’s credit rating outlook upgraded to 'Positive' by VIS Rating
The electrical equipment business continues to be the main contributor to GELEX’s revenue and profit growth

VIS Rating expects this segment to maintain stable growth momentum, supported by strong demand for electrical products amid robust public and private investment in power infrastructure nationwide.

For GELEX Infrastructure, profitability in the building materials segment is expected to improve, driven by the recovery of the real estate market, easing competition in the construction glass segment following Vietnam’s initiation of anti-dumping investigations on certain imported products in July 2025, and the restructuring of sales channels at several subsidiaries.

The utilities segment, with EBITDA margins exceeding 70 per cent, is forecast to further strengthen the group’s overall growth following the completion of a plan to double water treatment capacity in the first quarter of 2026.

Strong demand for industrial infrastructure is expected to support leasing activities and cash flows in the industrial real estate segment. GELEX Infrastructure plans to commence sales of a new residential real estate project in Haiphong, developed in cooperation with Frasers Property (Singapore), including both low-rise and high-rise components, in Q1.

GELEX subsidiaries also plan to expand residential land banks and develop additional new projects. From 2026-2027, GELEX is expected to achieve average annual revenue growth of approximately 14 per cent, while maintaining an EBITDA margin of around 20 per cent.

GELEX’s credit rating outlook upgraded to 'Positive' by VIS Rating
Artist’s impression of the ANmaison project in Haiphong

VIS Rating notes that GELEX’s profitability and operating cash flow (CFO) remain strong, providing a solid foundation for maintaining stable financial safety indicators. Specifically, the EBIT-to-interest coverage ratio stands at approximately 4.5-5.0 times, while the CFO-to-debt ratio has been maintained at 15-20 per cent.

These metrics indicate that GELEX has adequate financial headroom to implement its medium- and long-term investment plans, while maintaining effective control over leverage and liquidity risks amid ongoing volatility in the financial environment.

According to VIS Rating, GELEX’s credit rating could be upgraded in the medium term if the group continues to sustain EBITDA margins above 20 per cent, maintains a CFO-to-debt ratio above 20 per cent, and adheres to a prudent investment strategy with limited reliance on excessive borrowing.

Conversely, overly rapid investment expansion or delays in the implementation of key projects could place pressure on cash flows and liquidity, potentially affecting the group’s rating outlook in the future.

The affirmation of GELEX’s A credit rating and the upgrade of its outlook to “Positive” provide clear evidence of the group’s credit strength, financial governance capability, and sustainable business foundation. This result not only reinforces the confidence of investors and credit institutions, but also gives GELEX a significant advantage in accessing long-term capital at more competitive costs, supporting the realisation of its sustainable growth strategy.

VIS Rating is an independent credit rating agency in Vietnam, licensed by the Ministry of Finance since September 2023, established through cooperation with Moody’s and other partners under a Vietnam Bond Market Association initiative. VIS Rating provides credit risk and financial capacity assessments for domestic enterprises.

GELEX Infrastructure secures $40 million SACE Push loan for facility GELEX Infrastructure secures $40 million SACE Push loan for facility

HSBC and the Italian Export Credit Agency have agreed a loan of $40 million for GELEX Infrastructure JSC.

GELEX completes international financing transaction worth $79 million GELEX completes international financing transaction worth $79 million

GELEX Group announced the completion of a loan facility guaranteed by the Italian Export Credit Agency (SACE) with a total value of $79 million on May 29.

FPT and GELEX sign deal to develop blockchain tech for global markets FPT and GELEX sign deal to develop blockchain tech for global markets

FPT Corporation and GELEX Group signed an agreement on the development of blockchain technology in Hanoi on December 25.

Sustainability a core value for DKSH’s vision
Kim Le Huy, head of Country Leadership, DKSH Vietnam

Our sustainability strategy is developed collaboratively. All business units and relevant functions work together to identify priorities and translate them into actionable initiatives that are implemented across our organisation. This collective approach ensures alignment, ownership, and measurable progress towards our objectives

Besides being guided by the purpose of enriching people’s lives, our ambitions will enable our people to flourish, make our value chains more sustainable, help achieve net-zero emissions, and make a positive local impact.

At the group level, we ensure consistency through robust governance, transparent monitoring, and comprehensive global reporting frameworks. At the same time, local initiatives follow global directions while being tailored to meet market-specific needs. This dual approach, global consistency with local relevance, has proven for the governance and implementation of sustainability activities.

As a bridge-builder in the supply chain connecting international companies with local markets, we integrate sustainability into our operations through practical solutions. For example, in Vietnam we implement ISO14001 for environmental management and ISO45001 for occupational health and safety.

In our delivery operations, we have replaced bubble wrap with shredded cartons made from reused boxes, and we are exploring reusable, net-based pallet wrapping solutions to enhance durability and performance. This group-wide initiatives exemplify how small, thoughtful actions can generate significant impact, aligning closely with our corporate sustainability strategy.

Innovation is the engine that turns sustainability commitments into measurable outcomes. We consistently rethink how services are delivered and how value is created, ensuring that our business model aligns with circular economy principles, digital transformation, and social responsibility.

Sustainability a core value for DKSH’s vision

For instance, in response to growing customer demands and our commitment to environmental stewardship, our Business Unit Performance Materials have set the target of continuously expanding our product portfolio towards sustainability. We aim to significantly increase the share of materials that contribute to sustainable development in our portfolio by 2030.

For that, Business Unit Performance Materials uses a comprehensive framework that considers multiple factors, including natural-based ingredients, upcycled or recycled materials, biodegradability, circularity, sustainably sourced ingredients such as RSPO-certified palm oil, and ingredients with certified eco-labels.

As supply chain management forms the backbone of our services, we develop solutions in logistics and operations to minimise our environmental footprint. This includes optimising transportation routes, improving energy efficiency, and transitioning to renewable energy sources.

Reflected in one of our projects, Minimum Order Values aim to reduce the number of trips needed for the same order locations by consolidating multiple orders into single truck deliveries. In 2024, our Business Unit Consumer Goods implemented the project in Australia, New Zealand, Singapore, and Vietnam.

By automating transactions and digitalising systems, we enhance efficiency and accuracy while reducing environmental impact. Examples include the mCollector credit collection tool and the mPay cash-to-digital payment tool, which streamline credit and payment processes. Digital practices are also applied across daily sales operations, including ordering and billing, further reducing paper used on site.

Our strategy comprises the aforementioned objectives. To track progress, we use scorecards that include KPIs at the group level. Specific targets have been set through 2030, covering all objectives, providing clear milestones for accountability. We underpin our ambitions with transparency and credibility. DKSH annually published its sustainability reports in accordance with GRI standards, disclosed our carbon footprint, and submitted decarbonisation targets to the Science-Based Targets initiative.

Sustainability at DKSH also extends to social impact, advancing education, health, gender equality, and fostering a diverse and inclusive workplace. In 2022, DKSH joined the UN Global Compact, committing to responsible business conduct in line with its 10 principles and actively contributing to the Sustainable Development Goals. Many of the goals are reflected in our material topics, and the priorities reflect our belief that people and communities are critical drivers of long-term progress.

FPT and GELEX sign deal to develop blockchain tech for global markets
FPT and GELEX representatives with the blockchain technology agreement

FPT and GELEX will jointly research, develop, and implement blockchain-related business activities with the ambition to scale up operations and expand into international markets.

Under the agreement, the two groups will focus cooperation on four main pillars in blockchain: the development of digital asset products and services; research and development of blockchain-based products, services, and application solutions; the application of blockchain products, services, solutions, and cryptoassets within both groups’ ecosystems to enhance operational efficiency and long-term value; and joint expansion of the blockchain ecosystem to international strategic partners.

The scope of cooperation is designed to be flexible, aligned with the capabilities and development orientations of each party as well as legal regulations in each country and territory, thereby laying the foundation for blockchain platforms with global competitive potential.

FPT is Vietnam’s leading technology group with a high-quality global workforce and extensive experience implementing projects in major markets. FPT has pioneered research, development, and mastery of core technologies, including blockchain, serving domestic and international clients across multiple sectors.

Meanwhile, GELEX, a leading Vietnamese investment group with an ecosystem spanning infrastructure, industrial manufacturing, and financial investment, approaches blockchain as a new technology as well as a future operational platform. GELEX has identified blockchain as a “major challenge”, where technology must be closely linked to practical value, scalability, and long-term operational efficiency.

FPT and Aon join forces with enterprises to build strong digital shield FPT and Aon join forces with enterprises to build strong digital shield

In today’s digital age, cyberattacks are becoming an increasingly serious threat to businesses and organisations worldwide.

Abbott, FPT Long Chau partner to improve Vietnam’s healthcare sector Abbott, FPT Long Chau partner to improve Vietnam’s healthcare sector

Abbott has teamed up with FPT Long Chau, a leading pharmaceutical retailer, to fight non-communicable diseases.

Phu Tai Group and FPT accelerate digital governance with SAP cloud ERP Phu Tai Group and FPT accelerate digital governance with SAP cloud ERP

Phu Tai JSC in collaboration with FPT Corporation announced a new digital transformation strategy on December 2 and kicked off the SAP S/4HANA Cloud Public Edition deployment across seven key subsidiaries in the stone and wood sectors.

This marks the fourth consecutive year that Viet Research and VIR have jointly conducted and released two core ranking groups: value-creating enterprises and employers.

The value-creating enterprise rankings comprise the Top 500 Value-Creating Enterprises in Vietnam (VALUE500) and the Top 10 Value-Creating Enterprises by Industry 2025 (VALUE10), while the employer rankings include the Top 500 Employers in Vietnam (VBE500), the Top 50 Most Attractive Employers 2025 (MAE50), and the Top 10 Best Places to Work in Vietnam 2025 across key economic sectors (VBW10). The rankings cover most major sectors of the economy.

Vietnam's top 500 value-creating enterprises announced

VBE500 and VBW10 recognise enterprises with strong performance in building professional and positive working environments, improving employee experience and supporting workforce development. MAE50 honours enterprises that have maintained a position in the VBE500 for three consecutive years, reflecting sustained credibility and appeal to domestic and international talent.

These annual studies aim to recognise enterprises that have made notable contributions to improving human resource governance, organisational culture, employee welfare and workplace experience.

VALUE500 and VALUE10 recognise enterprises that demonstrate leadership in value creation, innovation and sustainable development, generating long-term value for businesses, shareholders, employees and society. As global economic uncertainty persists, supply chains continue to restructure and environmental, social, and governance (ESG) standards become more demanding, value creation is increasingly viewed as a core capability supporting resilience, market expansion, capital mobilisation and talent development.

“2025 continues to record highly commendable efforts by the business community in creating value for both their enterprises and the wider economy,” Le Trong Minh, deputy editor-in-chief of VIR, said at the event. “Despite ongoing global volatility and domestic restructuring, many enterprises have delivered strong results in both the pace and quality of growth, reinforcing their position in domestic and international markets.”

Companies in the VALUE500 and VALUE10 are moving away from growth models reliant on traditional resources towards value creation driven by ESG and innovation. More than 90 per cent have improved or developed environmentally friendly products and services, nearly 64 per cent have integrated sustainability principles across operations, and 73 per cent have incorporated environmental and social factors into risk management during the 2022–2025 period.

Tran Thi Ngoc Ha, CEO of Viet Research, said the survey results show a clear shift in development thinking among Vietnamese enterprises.

“Results further highlight the central role of human capital in long-term value creation,” Ha said. “More than 70 per cent of enterprises have digitalised human resource management, while 85 per cent prioritise workers with skills in AI, data and automation, alongside continued investment in welfare, culture and flexible working models.”

Viet Research also introduced its latest report on value-creating enterprises, which outlines key trends shaping Vietnam’s labour market during a period of deep restructuring. The study points to a rapid shift in skills demand, with repetitive roles declining and demand rising for analytical, data, technology, compliance, risk management and ESG-related positions.

Competition for talent is intensifying, the report said, with enterprises placing greater emphasis on purpose, learning opportunities, career pathways, mental wellbeing and employee experience. Organisations with sustainable strategies, transparent governance, advanced technology adoption and a people-centred approach are seen as holding a clear advantage in talent attraction.

Within this context, the rankings serve as benchmarks for enterprises seeking to strengthen governance capacity and contribute to higher-quality economic growth.

As part of the ceremony, a seminar on creating and leading sustainable transformation in finance and human capital was held. Nguyen Viet Long, deputy managing director of Consulting at EY Vietnam, said two major forces will shape the future of finance and accounting towards 2030: AI-driven digital transformation and ESG-led sustainable development.

“AI is already widely applied, improving efficiency, reshaping workflows and allowing professionals to focus on higher-value tasks, while ESG is driving new roles in green finance and the integration of sustainability into traditional positions,” he said.

Dang Thuy Ha, Northern Region director and corporate strategy advisor at Talentnet, also highlighted the growing impact of GenAI on workforce management.

“Technologies, particularly GenAI, are redefining core job functions across most professions,” said Ha. “This shift requires enterprises to redesign their operating models and human resource strategies.”

Top 500 private firms responsible for 18.4 per cent of revenue Top 500 private firms responsible for 18.4 per cent of revenue

Vietnam’s top 500 private enterprises (VPE500), were responsible for 18.4 per cent of the nation’s domestic private sector revenue between 2019 and 2021, according to an August 30 report from the Institute for Development Strategy and the Department of Industrial and Construction Statistics, under the General Statistics Office.

Vietnam's 500 most profitable firms for 2023 unveiled Vietnam’s 500 most profitable firms for 2023 unveiled

The latest PROFIT500 rankings, released on September 8 in partnership with Vietnam Report and Vietnamnet, highlight the 500 most profitable companies in Vietnam for 2023, with industry titans like Vietnam Oil and Gas Group (PetroVietnam) and Samsung Electronics topping the chart.

70 Vietnamese firms among ASEAN's Top 500 70 Vietnamese firms among ASEAN’s Top 500

70 Vietnamese businesses have been listed on the first-ever Southeast Asia Fortune 500 list, which operate in various sectors of the economy, most notably banking, energy, services, and production.

This milestone marks the initial step towards the goal of exporting FPT-designed chips to the Asia-Pacific market over the next three years.

FPT exports first chip shipment to Japan
FPT has exported its first commercial chip shipment to a leading Japanese electronics company

It is also the first time a Vietnamese company has successfully introduced commercial semiconductor chips to the Japanese market, one of the world’s most demanding markets in terms of quality and reliability.

FPT is now developing a comprehensive power IC ecosystem, encompassing multiple product lines such as PMICs, LDOs, BUCK converters, LED drivers, and Power MOSFETs, with the goal of delivering stable power supply and low-energy consumption for electronic devices.

Among these, the power chips recently exported to Japan are specifically designed for high-performance multi-function printers (MFPs) used in office and enterprise environments.

Designed by FPT, these chips manage and stabilise internal power supply, protect components from voltage and current fluctuations, and ensure reliable operation under high-load conditions.

This shipment represents a concrete outcome of the strategic cooperation agreement signed between FPT and Restar, on the sidelines of the Vietnam–Japan High-Tech, Green Transformation, and Semiconductor Cooperation Forum, witnessed by leaders of both governments.

Under the agreement, Restar aims to distribute 10 million chips designed and manufactured by FPT across the Asia-Pacific region within three years.

FPT engineers have continuously refined the chip design and optimised parameters to ensure the chips passed stringent global testing processes.

The products underwent comprehensive electrical characterisation, stability, noise and load response evaluations, JEDEC reliability testing, real-device validation for compatibility, as well as safety tests for over-voltage, over-current, and thermal stability in line with Japanese industrial-grade standards.

In addition, the chips comply with environmentally friendly material requirements and manufacturing processes, and chemical substance information is disclosed using the chemSHERPA tool, a standardised chemical substance management and information-sharing tool widely used in Japan, ensuring material transparency and alignment with the green supply chain requirements.

Following this first shipment, FPT and Restar will continue to collaborate on subsequent deliveries with increasing volumes to support Restar’s expanding market demand.

The two companies will also jointly research and develop new semiconductor products tailored to the Japanese market, including next-generation power management chips, controller ICs, and integrated circuits for office equipment, imaging devices, and consumer electronics.

Beyond product development, the partnership includes engineer exchange programmes, joint research and development projects to enhance design capabilities, and the establishment of a coordinated outsourced semiconductor assembly and test service model, covering packaging and testing.

By combining FPT’s chip design expertise with Restar’s supply chain strength and market experience, the collaboration is expected to create strong synergies and enable sustainable, efficient growth in the semiconductor business for both parties.

FPT exports first chip shipment to Japan
Following the first shipment, FPT and Restar will continue to collaborate on subsequent chip deliveries to meet the growing demand of Japanese customers

Commenting on this milestone, Tran Dang Hoa, chairman of FPT Semiconductor, FPT Corporation, said, “Exporting our first commercial chip shipment to Japan is not only a significant milestone for FPT, but also a strong affirmation of Vietnamese capabilities in core technologies.

We expect that, starting from this initial shipment, Vietnamese-designed chips will increasingly be used in consumer electronics, office equipment, the Internet of Things devices, and industrial applications.

We believe this achievement will help position Vietnam as an emerging destination on the global semiconductor map and open new opportunities for Vietnamese companies to participate more deeply in the global high-tech value chain.”

This shipment comes at a time when the global power ICs market is projected to reach approximately $59 billion by 2030, while the Japanese market alone is expected to approach $3 billion over the same period.

Demand for power chips continues to grow across multiple sectors, including consumer electronics, industrial equipment, automotive, and high-tech applications.

From a global perspective, recent disruptions in the semiconductor supply chain, most notably regulatory and geopolitical interventions affecting Nexperia’s operations, have underscored the growing need for supply diversification and the search for reliable alternative sources.

In this context, FPT is introducing a range of protection devices such as ESD and Zener diodes, commonly referred to as discrete power devices, with the expectation of serving as a complementary or alternative supply option in the Japanese, Korean, and Taiwanese markets.

FPT boosts presence in South Korea FPT boosts presence in South Korea

Vietnamese technology group FPT is strengthening its footprint in the South Korean market to drive AI-powered low-code adoption globally.

Phu Tai Group and FPT accelerate digital governance with SAP cloud ERP Phu Tai Group and FPT accelerate digital governance with SAP cloud ERP

Phu Tai JSC in collaboration with FPT Corporation announced a new digital transformation strategy on December 2 and kicked off the SAP S/4HANA Cloud Public Edition deployment across seven key subsidiaries in the stone and wood sectors.

FPT and GELEX sign deal to develop blockchain tech for global markets FPT and GELEX sign deal to develop blockchain tech for global markets

FPT Corporation and GELEX Group signed an agreement on the development of blockchain technology in Hanoi on December 25.

SABECO wins multiple international beer awards

Several products from Saigon Beer–Alcohol–Beverage Corporation (SABECO) were recognised at established international beer competitions, a development analysts view as a positive signal as the brewer upgrades its portfolio and expands its presence in higher-value segments.

At the Brussels Beer Challenge 2025 in Belgium, with results announced on November 18, 333 Pilsner won a Gold Medal in the Light Lager category, while Saigon Chill secured Gold in the Ice Lager category. Saigon Export Premium also received a Silver Medal in the same category.

The accolades continued in Asia, as Saigon Export Premium secured a Silver Medal at the Japan International Beer Cup 2025, a competition with more than 25 years of history and participation from brewers in over 30 countries. This marked the third year, and the second consecutive year, that SABECO products have been recognised in the Japanese market.

According to the company, the award-winning beers are part of the product lines prioritised for upgrades during the 2021–2025 period, when SABECO accelerated its strategy towards the mid- to high-end segments in line with changing urban consumption trends and international standards. While 333 Pilsner and Saigon Chill are designed to meet demand for more diverse drinking experiences, Saigon Export Premium is positioned as an international-standard premium lager.

SABECO noted it has collected more than 50 international awards in recent years, reflecting the outcomes of sustained investment in technology and operational improvements. The company is pursuing a three-pillar strategy encompassing people development, operational standardisation, and efficiency enhancement. Among these, improving efficiency is viewed as critical to cost optimisation and margin expansion, metrics that investors are closely monitoring as competition in the beer market intensifies.

According to Lester Tan, CEO of SABECO, the brewer is strengthening its product portfolio through diversification and clear positioning across price segments. “We aim to offer consumers more choice, from heritage brands to modern products. Each plays a strategic role in SABECO’s growth structure,” he said.

Tan added that the group’s ambitions extend beyond consolidating its domestic position. “As Vietnam sets its sights on stronger regional competitiveness, SABECO seeks to grow alongside the country,” he noted.

Market conditions show domestic beer consumption has been affected by stricter road safety regulations, evolving consumer behaviour, and broader economic pressures. However, the premium segment is expected to maintain solid growth, particularly in major cities. Analysts believe SABECO’s newer product lines could help the company strengthen its presence among younger consumers who favour more contemporary beer-drinking styles.

Industry experts suggest that the increasing presence of Vietnamese brands, including SABECO, at international competitions highlights a clear improvement in the quality of domestic beer. This trend could enhance investor confidence and raise brand visibility in export markets.

Over the longer term, SABECO’s portfolio upgrade strategy is expected to support gross margin improvement and provide a foundation for sustainable growth as Vietnam’s beer market becomes increasingly polarised between mass-market and premium segments.

Petrovietnam Drilling and Well Service Corporation (PV Drilling) has released its 2025 results, marking the strongest performance in a decade.

Along with this, the company reported estimated revenue of $420 million approximately, up 10 per cent on-year. Pre-tax and after-tax profits came to $44 million and $33.2 million, up 17 per cent and 19 per cent, respectively, compared to 2024.

These figures mark PV Drilling’s highest profit level since 2015. Compared to the annual plan, actual revenue exceeded the target by 46 per cent, while pre-tax and after-tax profits were 39 per cent and 57 per cent higher than projections, respectively.

Oil and gas firms post strong 2025 results
Photo: Petrovietnam

Sharing the same upward momentum, Binh Son Refining and Petrochemical JSC and Petrovietnam Gas Corporation (PV GAS) also recorded strong results.

Binh Son Refining and Petrochemical produced 7.9 million tonnes, equivalent to 108 per cent of its plan, generating revenue of around $5.7 billion and contributing $570 million to the state budget.

In the fourth quarter of 2025 alone, the company posted a sharp turnaround, swinging from a $4.1 million contraction in the same period last year to posting a pre-tax profit of more than $81.5 million in the period.

For the full year, its pre-tax profit reached 181.6 million, exceeding the annual plan by 262 per cent and more than six times higher than the $29.4 million level recorded one year ago.

The company noted that 2025 was a challenging year as Brent Crude prices fell by nearly 20 per cent to around $64 per barrel, while exchange rates climbed and competition from regional supply intensified.

Despite these headwinds, the company managed to swim against the tide through an operational optimisation strategy. In the second half of the year, the Dung Quat Refinery maintained an average equivalent capacity utilisation rate of up to 122 per cent, helping second-half profits surge by 113 per cent compared with the first half, despite unfavourable market conditions.

Similarly, PV GAS reported estimated consolidated revenue of $5.36 billion, up 27 per cent on-year, while pre-tax profit reached $580 million, up 10 per cent, completing 181 per cent of its revenue target and 218 per cent of its profit target for 2025.

A key highlight for PV GAS in 2025 was record liquefied petroleum gas/liquefied (LPG/LNG) natural gas trading volume of more than 5 million tonnes, 2.65 times higher than the plan.

Domestic consumption grew steadily by 8 per cent, while international trading surged to over 3.2 million tonnes, double the 2024 level.

LPG/LNG activities currently account for about 56 per cent of total consolidated revenue, with international business contributing 34 per cent, already surpassing the strategic target set for 2030.

On the investment front, PV GAS disbursed more than $136 million in 2025, equivalent to 103 per cent of the plan, and secured approval for major infrastructure projects such as the Vung Ang LNG terminal and the Haiphong refrigerated LPG storage facility.

For 2026, PV GAS targets 10 per cent revenue growth, focusing on international markets and clean energy, with plans to pilot green hydrogen production at the Dinh Co Gas Processing Plant from the first quarter of 2026.

As for Petrovietnam Coating JSC (PV Coating), although it has yet to disclose detailed 2025 financial figures, the company said key economic and financial indicators – including output, revenue, profit, state budget contributions and employee income – were all higher than in 2024 and above the 2025 plan.

PV Coating completed pipe coating contracts (onshore and infield pipelines) for the Lo B-O Mon gas pipeline chain – Vietnam’s crucial national energy project, as well as the Lac Da Vang and Thien Nga–Hai Au oil-field projects.

The company also continued to expand research, development and non-core services, such as internal coating for fuel pipelines at Long Thanh Airport, field joint coating for offshore pipelines at Lac Da Vang, Thien Nga–Hai Au projects, fireproof coating, maintenance and repair services, and trading activities.

According to Petrovietnam Securities JSC, the Vietnam National Industry-Energy Group (Petrovietnam) is rapidly aligning with the upstream investment trend, with plans to allocate up to 52 per cent of its total $2 billion investment budget to this segment.

Driving the sector’s overall momentum is the Lo B-O Mon mega project, which has entered a synchronised implementation phase, targeting the first gas stream by August 2027.

The massive scale is expected to generate abundant workloads and long-term benefits for upstream service providers such as Petrovietnam Technical Services Corporation and PV Drilling.

In addition, the oil and gas industry outlook has been further bolstered by positive progress at the Lac Da Vang oil-field, highlighted by the successful launch of the jacket and piles for the Lac Da Vang A platform.

In the downstream segment, global refining margins are forecast to remain elevated in 2026 due to constrained supply in developed markets.

Meanwhile, the midstream segment is expected to see divergence. Crude oil transportation is likely to remain stable, supported by stockpiling demand amid declining oil prices, while refined product transportation may face challenges as importing countries ramp up their domestic refining capacity.

Petrol law advances tailored for benefits Petrol law advances tailored for benefits

An amended Law on Petroleum is expected to revive funding opportunities for the oil and gas sector as many fields are reaching their productive peaks or experiencing a state of decline – as long as some outstanding issues are ironed out.

Oil and gas sector counting on vital new investment cycle Oil and gas sector counting on vital new investment cycle

As oil prices anchor around $90-100 per barrel globally, changes in the oil and gas policy of many markets are expected to bring a new cycle of investment to Vietnam – with the government also taking steps to transition to renewable energy sources by cooperating with countries around the world.

Understanding global oil and gas sector management Understanding global oil and gas sector management

Decree No.95/2021/ND-CP on petroleum trading officially took effect at the beginning of the year and was expected to strengthen the market. However, the continuous changes in gasoline prices, combined with the inadequacies in management, has had a great impact on market supply and demand and also pushed the business and consumer world into unprecedented difficulties. The question of how to foster a healthy market and ensure energy security has not been resolved.

At the Vietnam Socioeconomic Achievements Exhibition in August in Hanoi, TH Group showcased what it described as a “digital miracle” to visitors: an advanced traceability technology that allows comprehensive tracking of every stage in the 12-step production process of TH true MILK – from pasture, farms, and factory all the way to consumer’s dining tables.

High-tech adoption for TH true MILK
High-tech adoption for TH true MILK

This innovation mirrors the agricultural digitalisation vision persistently pursued by the company, in which modern agricultural development is inseparable from data, technology, and AI.

With this major step, TH has become the first dairy enterprise in Vietnam to provide traceability data on the National Data Association’s (NDA) Trace platform, a blockchain-based, nationally integrated system developed by Vietnamese experts, featuring decentralised identity technology.

The technology allows users to control their digital identities by managing their own personal data, which is secured using cryptography and distributed ledger technology like blockchain.

Each batch of TH true MILK is provided with a unique digital ID, enabling end-to-end tracking from raw material input, production, quality control, packaging, and transportation to final distribution.

Every action in the supply chain is recorded, verified, and protected against tampering or forgery. This technology complies with international GS1 standards and is compatible with EBSI Trace 4EU – the European Union’s global traceability system – providing comprehensive assistance for the enterprise’s cross-border supply chain connection.

On every TH milk carton, the QR code works as a digital certificate of trust. “When scanning the code, consumers can access full details about the milk’s origin, production process, ingredients, nutritional content, storage instructions, expiry date, and packaging specifications,” said Nguyen Xuan Khoa, chief information officer at TH Group. “They can even discover what, when, and how the cows were fed and treated, and how they were milked. Everything is transparent and verifiable.”

TH taking the lead in using data and technology for product traceability has marked a defining moment in its 15-year journey to bring greater transparency to the Vietnamese dairy market in a bid to protect consumers’ health.

TH Group has spent years advocating for clearer labelling regulations, urging authorities to revise the technical standards for dairy ingredient declarations on product packaging. The company has consistently adhered to full disclosure of its raw materials. All of its products are made from pure fresh milk sourced directly from its own dairy farms, processed using world-class technology to preserve the natural purity and nutritional essence of its milk products.

Product traceability is the latest solution in TH Group’s evolving ecosystem of high-tech innovation and scientific management. The company has consistently stressed the crucial role of digital transformation in unlocking the full potential of agriculture. In TH’s strategy, agricultural products must meet two key criteria including competitive pricing and high quality – both of which require high technology.

Thanks to a vast data repository accumulated over the past 15 years, TH Group is now well positioned to implement a comprehensive traceability system. For consumers, scanning a QR code on TH true MILK packaging reveals a journey that begins in the feed crop fields that nourish TH’s nearly 70,000-strong dairy herd.

These fields are maintained by smart irrigation systems that use sensors to monitor soil moisture and adjust water usage accordingly. Crops such as maize, kaoliang, and mombasa and mulato grass are continuously monitored by sensors and AI-powered analytics to ensure optimal nutritional value. TH’s automated machinery performs the work equivalent of hundreds of manual labourers each day.

Each TH dairy cow is installed with an electronic identification chip connected with Afifarm, an advanced Israeli livestock management software. This system provides real-time tracking of each cow’s health, diet, milk output, and reproductive cycle.

TH has also adopted IVF technology for dairy cows, enabling the group to independently breed high-quality herds. Data collected from farm to factory is synchronised, ensuring consistent quality control from the milking stage.

Since it was established, TH’s fresh milk processing plant was equipped with state-of-the-art technology sourced from G7 nations and Europe. It currently produces one million litres per day – a record for Vietnam’s dairy industry.

Particularly, TH Group has applied an enterprise resource planning platform from SAP to manage and analyse real-time data across the entire production chain. This system allows TH to anticipate market demand, adjust production schedules, and accurately plan agricultural activities such as sowing, fertilising, and harvesting, ensuring that product quality remains consistently high.

TH Group commences construction of foodstuff factory in Thai Binh TH Group commences construction of foodstuff factory in Thai Binh

On February 18, TH Group commenced the construction of a foodstuff factory in Quynh Trang commune in the northern province of Thai Binh’s Quynh Phu district, marking an important milestone on the company’s journey to bring consumers nutritious and safe products such as fresh milk, vegetables, and drinking water, among many others.

TH Group showcases products at CAEXPO 2024 TH Group showcases products at CAEXPO 2024

TH Group, the owner of the TH True Milk brand, is showcasing its high-quality products at the 21st China-ASEAN Expo (CAEXPO) from September 24-28.

Thai Huong: a visionary business leader bridging Vietnam and Russia Thai Huong: a visionary business leader bridging Vietnam and Russia

Russian President Vladimir Putin has presented the Order of Friendship to Thai Huong, founder and chairwoman of the Strategic Council of TH Group, and general director of BAC A BANK.

Kaluga governor praises TH Group’s world-leading dairy farm Kaluga governor praises TH Group’s world-leading dairy farm

Governor of Russia’s Kaluga province visited TH Group’s high-tech dairy farm in Nghe An, the world’s largest closed-loop facility of its kind.

UOB: An outstanding year but momentum to slow ahead
Source: UOB

In a report released on December 22, UOB projected fourth-quarter growth at 7.2 per cent on-year, following a strong 8.23 per cent rise in the third quarter – the highest since the post-Covid rebound – after 8.19 per cent in the second quarter. The bank noted that resilient exports and production helped sustain growth despite headwinds from US tariffs.

In the first 10 months of the year, Vietnam’s exports surged 16.8 per cent on-year, despite a high base a year ago at 14.2 per cent on-year. One key driver was shipments to the US, which jumped by 28.1 per cent on-year during the same period (24.3 per cent last year), as orders accelerated (like front-loading) after US reciprocal tariff rates were dialled back to a base rate of 10 per cent globally. Cumulative trade surplus in October came in at $18.7 billion, smaller compared to the $22.4 billion in 2024, due to sharply higher input requirements in response to export demand.

Manufacturing saw a broad-based increase in tandem, increasing 10.8 per cent on-year in the first nine months, a faster pace compared to the 9.4 per cent rise in the same period in 2024. With four consecutive months of above-50 readings, Vietnam’s Purchasing Managers’ Index suggests that the outlook for the manufacturing sector remains positive.

UOB report noted that despite volatility in US trade and tariff policies since early 2025, foreign investment into Vietnam has continued to gain traction, supported by investor confidence in the outlook for the country and ASEAN. As supply chain realignments persist, realised foreign investment recorded $21.3 billion in the first 10 months, well above our expectations of $20 billion for the full year and $19.6 billion in the same period in 2024. The pipeline remains strong, as indicated by registered overseas funding which jumped 15 per cent on-year to $31.5 billion, from $27.3 billion in the same period last year.

Domestic sentiment is similarly upbeat, with retail sales expanding at an average 9.8 per cent on-year in the first 10 months, ahead of the 8.6 per cent pace in 2024. This comes on the back of rising inbound visitors. In the first 10 months, visitor arrivals surged by more than 21 per cent on-year to 17.2 million, from more than 14.1 million in the same period last year. Based on the current momentum, 2025 is on track to exceed the record 18 million visitors in 2019 and will be an added catalyst for domestic spending.

“With real GDP expanding by a robust 7.85 per cent on-year in the first three quarters, Vietnam’s outlook remains positive for 2026,” UOB reported. “However, one downside risk to watch is the implementation of the final reciprocal tariff rates since August, which saw the rate for Vietnam staying at 20 per cent, which could potentially dampen global trade activity going into 2026 as US consumers and producers are burdened with higher import costs.”

Due to a high base in the fourth quarter last year, UOB anticipates the final quarter would be a challenge, given a backdrop of tariffs and trade frictions. As such, UOB anticipates Vietnam’s fourth-quarter growth to slow to 7.2 per cent on-year, for a full-year expansion of 7.7 per cent. It would be even more daunting to achieve the official 8.3-8.5 per cent projection, which would require the fourth quarter expansion in the range of 9.7-10.5 per cent on-year.

“For 2026, Vietnam’s growth pace could moderate slightly to 7 per cent due to base effects and dissipation of front-loading,” UOB anticipated.

Vietnam’s inflation rate has yet to show a meaningful slowdown. Inflation rate in the first 10 months hit 3.3 per cent, compared to the average of 3.6 per cent in 2024 and 3.26 per cent in 2023. Main drivers continue to be costs of housing and construction materials (6.2 per cent on-year average, 18.8 per cent weight) and healthcare (17 per cent on-year average, 5.4 per cent weight).

“Combined with the potential for decent growth prospects going into 2026 and persistent VND weakness, these factors would constrain the State Bank of Vietnam’s (SBV) ability to ease policy,” UOB reported. “As such, we expect the SBV to keep its refinancing rate steady at 4.5 per cent.”

The VND is on track to finish weaker against the USD for the fourth consecutive year. While tariff-related uncertainties weighed on sentiment, stronger-than-expected GDP growth helped limit losses, keeping the year-to-date depreciation at a modest 3.5 per cent, broadly in line with prior years. Volatility remained contained, supported by the SBV holding its benchmark rate steady at 4.5 per cent throughout the year and deploying foreign currency interventions to smooth market fluctuations.

Looking ahead to 2026, UOB expects the VND to continue underperforming regional peers despite a broadly softer USD backdrop. UOB maintains a cautious stance on the VND, and updated USD/VND forecasts are at 26,300 in the first quarter next year, 26,100 in the second quarter, 26,000 in the third quarter, and 25,900 in the fourth quarter.

UOB Vietnam elevates retail banking experience with enhanced credit card suite UOB Vietnam elevates retail banking experience with enhanced credit card suite

UOB Vietnam has unveiled a refreshed credit card portfolio, offering enhanced lifestyle benefits and exclusive privileges through partnerships with renowned brands.

Vietnam's Q3 growth surged on export strength: UOB Vietnam’s Q3 growth surged on export strength: UOB

Vietnam’s economic performance so far in 2025 has been deemed stronger than expected, and with an expansion of 7.85 per cent on-year achieved in the first three quarters, the outlook remains positive for 2025, according to UOB (United Overseas Bank).

Vietnam leads ASEAN in consumer optimism Vietnam leads ASEAN in consumer optimism

Vietnam continues to lead the region in consumer optimism, according to the sixth edition of the ASEAN Consumer Sentiment Study (ACSS) released by UOB on November 20.