HONG KONG SAR – Media OutReach Newswire – 30 October 2024– For You Education (“For You”, or the “Centre”), a distinguished tutorial centre and the best IB tutor in Hong Kong, is pleased to announce the remarkable performance of its students in the prestigious International Baccalaureate (IB) Diploma Programme (IBDP) examinations. This sterling achievement underscores the Centre’s unwavering commitment to empowering students to reach the zenith of their academic potential.
A group photograph of the Center’s founder (in the middle) alongside its star instructors and outstanding students
In the 2023 IB results, 50% of For You Education students attained the esteemed higher IB points, scoring between 43-45 out of a maximum of 45 points. Furthermore, the exemplary average total IB points scored by For You Education students stood at an impressive 39.7 (max. total points for each candidate is 45), significantly outpacing the global average of 30.24 and the Hong Kong mean of 36.4. The IBDP is an internationally recognised curriculum widely accepted by universities worldwide. Its renowned international recognition was recently further solidified by the esteemed American Council on Education (ACE), which recommended that U.S. colleges and universities award university credit for IB Standard Level subjects, underscoring the programme’s academic rigour and prestige.
For You’s holistic approach to IB preparation encompasses private IB tuition, meticulous guidance in navigating the IA (Internal Assessment), EE (Extended Essay), and TOK (Theory of Knowledge), along with a multifaceted approach that seamlessly aligns with the IB’s emphasis on fostering well-rounded excellence, personal growth, and social development, empowering students to elevate their academic aspirations to new heights and equipping them for triumphant trajectories in university with standout admissions to renowned institutions across a diverse range of disciplines. Among the notable achievements, one of For You’s previous students has been accepted into the prestigious Economics program at the University of Chicago. Another has earned a place in the highly competitive Medicine programs at both the University of Hong Kong and the University of Toronto. Additionally, one has enrolled on the Engineering program at Imperial College London, and another student has been admitted to the Business program at the University of Melbourne.
“We are truly humbled and overjoyed to witness the outstanding triumphs of our students in the IB examinations,” remarked Mr. Terry, the Director of For You Education. “This unparalleled success is a direct reflection of the unwavering dedication of our highly experienced and knowledgeable IB tutors, as well as the personalised attention and comprehensive curriculum support we steadfastly provide to our students. For You strives to provide the most exceptional quality of education and to empower our students to become globally-minded, lifelong learners. We will continue to innovate and refine our teaching methodologies to remain at the vanguard of educational excellence,” added Centre Directors Mr. Johnny and Mr. Leo.
In addition to its acclaimed IB tutoring services, For You Education offers a diverse array of academic programmes with top-notched examination preparation guidelines and supports, including IGCSE, General Certificate of Education Advanced Level (GCE A Levels), International Advanced Levels (IAL), IELTS, and HKDSE, solidifying its reputation as a trusted and preeminent choice for students in Hong Kong and the surrounding region. Hashtag: #foryoueducation
The issuer is solely responsible for the content of this announcement.
About For You Education
Established in 2013 within the vibrant Causeway Bay district, For You Education has steadfastly continued to deliver exceptional teaching services to students hailing from Hong Kong’s most esteemed international and local schools. Upholding the highest standards of pedagogical efficiency, our classes are primarily offered in one-on-one or small group settings, enabling each student to receive the focused attention and personalized support necessary to meet their unique academic needs. In addition to comprehensive curriculum-based instruction, For You Education also boasts extensive expertise in preparing students for a diverse array of prestigious international examinations, including the IGCSE, IB, GCE, and SAT. From providing guidance on vital components such as the IA, EE, TOK, and IOC, to cultivating well-rounded academic excellence, the Center remains unwavering in its commitment to empowering students to reach their full potential.
HONG KONG SAR – Media OutReach Newswire – 30 October 2024 – AIM Vaccine (06660.HK), the leader in Chinese mRNA vaccines, announced on 30th October that mRNA respiratory syncytial virus (RSV) vaccine developed by a controlled subsidiary of the Group , has been recently obtained from the National Medical Products Administration, which marks a new progress of the research and development of the vaccine.
RSV, a common respiratory tract infection pathogen, is highly contagious and widely prevalent worldwide. RSV infection is an important cause of death in infants under one year old and also an important factor in the death of respiratory tract infections in the elderly. Meanwhile, people who have been infected with RSV previously are still at risk of being reinfected with RSV.
At present, there is no approved antiviral drug specifically for RSV that is available for clinical use worldwide. Therefore, the prevention of RSV has become an important strategy to resist the health threat from RSV, and vaccination for active immune prophylaxis is an effective means to avoid severe RSV infection.
No RSV vaccine has been approved for marketing in China, and now there are two RSV vaccines from GlaxoSmithKline and Pfizer on the global market. In 2023, the global sales of RSV vaccines reached US$2.46 billion. According to the forecast of China Insights Industry Consultancy Limited, an industry consultant, it is expected that the global market size of RSV vaccines will reach approximately US$16.7 billion by 2030 (Approximately HK$130 billion).
In June this year, Moderna’s RSV vaccine was approved by the US FDA. Citic Securities Research report pointed out that this is the second commercial mRNA vaccine in the world after the new coronavirus vaccine, further promoting the application of mRNA technology in the field of non-new coronavirus vaccine research and development, and RSV vaccine is expected to become the next heavyweight product in the field of mRNA vaccine.
It is worth noting that compared with traditional vaccines, the delivery of mRNA vaccines does not require specific plasmid vectors, does not enter the nucleus, has stronger immunogenicity and safety, has lower production costs, and can be delivered in a short time. Put into production. Currently, there are very few competitors in the field of mRNA vaccines globally, and the technologically cutting-edge mRNA vaccines are a veritable blue ocean.
AIM Vaccine is one of the enterprises that take the lead in developing mRNA vaccine products in China, and also one of the first batch of domestic vaccine enterprises that have obtained an independent patent for mRNA technology. The Group has a mature mRNA vaccine research and development system and has developed several mRNA vaccine candidates, including but not limited to mRNA rabies vaccine, mRNA RSV vaccine and mRNA shingles/herpes zoster vaccine, etc.
AIM Vaccine has also established a sound quality management system for mRNA vaccines and a commercial-scale production workshop in line with GMP standards, and vaccines produced on the mRNA technology platform have also been verified by clinical trials. The Group has now smoothened the whole life cycle process such as the research, development and production of mRNA vaccines, allowing for rapid achievement of the industrialization of mRNA vaccine products after the completion of the clinical trials as well as the acceleration of the commercialization process of vaccine products. According to data, the market size of mRNA vaccines and therapies will grow rapidly at a compound annual growth rate of 16.8% from 2023 to 2028, and is expected to reach US$101.8 billion in 2028.
AIM Vaccine will rapidly advance the clinical trials of the mRNA respiratory syncytial virus (RSV) vaccine. As a new and globally heavyweight key vaccine product, this product is expected to become a new growth driver of the Group after its launch. Hashtag: #AIMVaccine
The issuer is solely responsible for the content of this announcement.
HONG KONG SAR – Media OutReach Newswire – 30 October 2024– The Hong Kong Institute of Surveyors Building Surveying Division (HKIS-BSD) hosted the Building Surveyors Conference 2024 (“the Conference”) at the Sheraton Hong Kong Hotel & Towers on 25 October. With the theme of “Transformative Trends in Building Surveying”, the Conference focused on exploring the latest technological advancement supporting surveyors in their work, identifying new sustainable building practices for environmental friendliness, and recognizing the diverse roles of surveyors in timely and quality execution of development projects. This year’s conference was honoured to have Ms HO Wing-yin, Winnie, JP, Secretary for Housing, HKSAR Government, as the Guest of Honour. The event also gathered professionals from Government departments, business leaders, experts and academia to share their experience and perspectives on related topics.
Ms HO Wing-yin, Winnie, JP, Secretary for Housing, HKSAR Government (second from left); Sr LAM Ka-fai, Francis, President of The Hong Kong Institute of Surveyors (second from right); Sr LEE Hoi-tat, Nathan, Chairman of The Hong Kong Institute of Surveyors Building Surveying Division (right); and Sr LAU Cheuk-kit, Paul, Chairman of the Organising Committee of the Building Surveyors Conference 2024(left), convenes at The Hong Kong Institute of Surveyors Building Surveyors Conference 2024, sharing valuable insights and expertise.
The year of 2024 has undergone technical, legal and environmental challenges for the built environment and the building profession. The Conference, themed “Transformative Trends in Building Surveying”, aims to provide insightful and comprehensive perspectives on issues that arouse public attention.
During the conference, Ms HO Wing-yin, Winnie, JP, Secretary for Housing, shared with participants the concepts and designs of estates and their role in promoting well-being and enhancing the future for residents through a human-centric approach and collaborative innovation. She explained about the “Well-being Concepts” and Well-being Design Guide, which include (1) Health & Vitality and (2) Green Living & Sustainability for individuals; (3) Age Friendliness and (4) Intergenerational & Inclusive Living for families; (5) Urban Integration and (6) Family & Community for the community; and (7) Upward Mobility and (8) Perception & Image for society. She expressed hope that by implementing these concepts and design guidelines in existing estates and new public estates, more warmth and comfort could be brought to families in Hong Kong.
Other distinguished speakers included Ms YU Po-mei, Clarice, JP, Director of Buildings, Buildings Department, HKSAR Government, discussing about the modernising the building control system; and Sr SIN Kwok-leung, Alan, Deputy Director of Architectural Services, Architectural Services Department (ArchSD), HKSAR Government, sharing his thoughts on innovative trends in facilities development and upkeep by ArchSD. These topics sparked enthusiastic discussions among the participants.
Sr LAM Ka-fai, Francis, President of The Hong Kong Institute of Surveyors, expressed that the landscape of building surveying has been evolving rapidly, influenced by advancement in technology, sustainability practices, and regulatory frameworks, shifts in societal needs, and the growing complexity of urban development. He further stated that the trends today were only the beginning of a broader transformation that would reshape the approach of land, infrastructure and environmental management. He encouraged the professionals to remain adaptable, forward-thinking and committed to excellence while embracing these changes.
Sr LEE Hoi-tat, Nathan, Chairman of HKIS-BSD echoed that the rapid advancement in technology, evolving regulatory landscapes and growing emphasis on environment have been driving significant changes in the building surveying profession’s approach to their work. These shifts presented both challenges and remarkable opportunities for innovation. Building surveying professionals would hold a critical role in navigating these transformations while upholding the highest standards of professionalism and integrity.
Sr LAU Cheuk-kit, Paul, Chairman of the Organising Committee of the Building Surveyors Conference 2024, said in his closing remarks that the Conference had provided an exciting platform for sharing breadth of views and experience, discussing emerging trends, and exploring the future of building surveying. He expressed appreciation to the Guest of Honour and speakers for their invaluable insights at the Conference, which would undoubtedly inspire new ideas and foster collaboration among the industry.
List of Guest of Honour and Speakers (in the order of speech delivery)
Guest of Honour
Ms HO Wing-yin, Winnie, JP, Secretary for Housing, HKSAR Government
Speakers
Ms YU Po-mei, Clarice, JP, Director of Buildings, Buildings Department, HKSAR Government
Sr SIN Kwok-leung, Alan, Deputy Director of Architectural Services, Architectural Services Department, HKSAR Government
Sr WONG Se-king, Peter, Director, Building Rehabilitation, Urban Renewal Authority
Prof Wilson W.S. LU, Head of Department and Chair Professor (Digital Construction), Department of Real Estate and Construction, The University of Hong Kong
Ir KWONG Ching-wai, JP, Chairman & Chief Executive, Hong Yip Holdings Ltd.
Mr Terence LUI, CEO, Varadise Ltd
Dr Brenda L.P. YIP, Director, BK Surco Limited
Sr CHAN Ka-man, Margaret, Barrister-at-Law
Hashtag: #HKIS
The issuer is solely responsible for the content of this announcement.
About the Hong Kong Institute of Surveyors
Established in 1984, The Hong Kong Institute of Surveyors (HKIS) is the only surveying professional body incorporated by ordinance in Hong Kong. As of 2 October 2024, the number of members reached 11,142, of which 8,022 were corporate members. HKIS work includes setting standards for professional services and performance, establishing codes of ethics, determining requirements for admission as professional surveyors, and encouraging members to upgrade skills through continuing professional development.
The Institute has an important consultative role in government policy making and on issues affecting the profession. We have advised the government on issues such as building safety and unauthorised building works, problems of property management, town planning and development strategies, construction costs and housing problems. We have also issued guidance notes on floor area measurement, real estate valuation and land boundary survey, etc.
About Building Surveying Division of the Hong Kong Institute of Surveyors
Established in 1985, Building Surveying Division (BSD) is one of six divisions of the HKIS. The total number of professional Building Surveyors as of 2 October 2024 has increased to 1,589 from 119 since its establishment. In the 39 years, the Division organised many conferences and visits and produced a number of publications to promote the service and image of building surveying profession.
Professional building surveyors are qualified by professional assessments with prescribed practical training. We uphold the stringent professional standards of the HKIS, which require a high level of service and efficiency as well as compliance with a strict code of professional conduct.
JAKARTA, INDONESIA – Media OutReach Newswire – 30 October 2024 – AstraZeneca, a leading research-based multinational pharmaceutical and biopharmaceutical company, has once again been named the Best Places to Work (BPTW) in Indonesia for the third time. This award affirms AstraZeneca’s commitment to creating a positive and supportive work environment for all employees.
Esra Erkomay, President Director of AstraZeneca Indonesia said, “We are very proud of the recognition as the Best Places to Work for three consecutive years. This achievement reflects our commitment to creating a work environment where every employee can thrive and thrive. We believe by paying close attention to our employees, we can bring more innovative and effective health solutions to patients across Indonesia.”
Based on the survey conducted, AstraZeneca Indonesia managed to achieve certification as the Best Place to Work with a total score of 84%. Most of the employees, i.e. 95%, rated AstraZeneca as an excellent company. In addition, 83% of respondents feel very engaged and motivated to work, even exceeding expectations.
Apriza Liz Tresia Dewi, Head of Human Resources of AstraZeneca Indonesia, stated, “With this achievement, we will continue to strive to create work environment that is diverse, inclusive, safe, and encourage each team member to optimize their potential and achieve the best achievements. We value the uniqueness of each individual and our commitment is to provide equal opportunities for all.”
The survey further revealed that 85% of AstraZeneca employees feel proud of their corporate social responsibility (CSR) initiatives, and sustainability efforts for environmental management. “The company’s commitment to implementing ethical and sustainable business practices also fosters pride among AstraZeneca Indonesia employees,” added Apriza.
This award not only reflects AstraZeneca’s dedication to providing the best work experience, but also affirms the company’s commitment to continue to innovate and meet the health needs of the public in Indonesia.
Every year, the Best Places to Work program assesses various local and multinational organizations in Indonesia to strengthen their workplace culture. With this award, AstraZeneca Indonesia once again shows that investment in human resources is the key to achieving mutual success.
London, United Kingdom – Newsfile Corp. – October 29, 2024 – Gorilla Technology Group Inc. (NASDAQ: GRRR) (“Gorilla” or the “Company”), today announced its guidance for fiscal years 2024 and 2025, highlighting strong revenue growth, major new contract wins and continued global expansion across key regions.
Following the company’s recent webinar (GRRR WEBINAR OCT 24), Gorilla has reaffirmed its robust outlook for 2024, while projecting even stronger growth in 2025, driven by new contracts and significant strategic partnerships in Asia, MENA and Latin America.
2024 Projections and Strong Financial Position Gorilla projects 2024 revenues to reach $72 million, with an EBITDA margin of over 20%, and net income of over $10 million. This builds on the momentum of 2023 and H1 2024, where Gorilla achieved a 222% increase in revenue and 456% growth in gross profit. Gorilla’s backlog (i.e. signed contracts) going into 2025 now stands at $93 million, providing a solid foundation for sustained growth.
Looking ahead to 2025, Gorilla projects revenues to surpass $90 million, with net income exceeding $15 million. The company is targeting EBITDA margins of 20-25%, further solidifying its financial stability and long-term profitability.
Our projections do not account for any impact from additional large-scale contracts. Following the Company’s transformative MENA project win in 2023, we are pursuing additional projects in the AI-powered analytics, cybersecurity and smart city sectors. Some of these contracts are in advanced stages of discussions and valued in the hundreds of millions. While not all of our contract wins will receive separate announcements, we will of course keep our investors apprised of new projects, that will continue to propel Gorilla’s leadership in these sectors and continue our financial performance.
Innovation and Product Development The Gorilla Intelligent Network Director, launched in October 2024, is already seeing strong market demand and is poised to make a significant impact, with its full release set for mid-2025. This platform leverages our partnerships with industry leaders, including Intel and Red Hat, to integrate advanced security features and real-time intelligence into SD-WAN solutions tailored for enterprises of all sizes. Developed to meet the needs of businesses facing rapidly evolving security and connectivity challenges, the Intelligent Network Director allows for seamless scalability across diverse environments, from on-premise to cloud-based networks.
This innovative platform positions Gorilla to capture a substantial share of the growing $40 billion SD-WAN market. Furthermore, revenue from early-stage sales and market adoption of the Intelligent Network Director are not yet reflected in our 2025 projections, meaning these earnings represent significant upside potential.
Share Repurchase and Stock Price Valuation Gorilla remains actively engaged in its share repurchase programme, having acquired 1.1 million shares in September 2024. With $3.8 million of the $6 million authorised already utilised, the company is committed to continuing the buyback, confident that the current stock price does not reflect its true value, especially given its strong cash reserves exceeding $40 million and solid growth outlook.
“We are on a relentless growth path,” said Jay Chandan, Chairman and CEO of Gorilla. “The momentum we have built in 2023 and 2024 is only the beginning. With massive contracts on the horizon and a global footprint that continues to expand, Gorilla is poised to become a global leader in AI-powered solutions by 2027.”
About Gorilla Technology Group Inc. Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including, Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.
Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.
Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Gorilla’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about future revenues, our ability to attract the attention of customers and investors alike, Gorilla’s largest projects and ability to win additional projects and execute definitive contracts related thereto, along with those other risks described under the heading “Risk Factors” in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the “SEC”) on May 15, 2024 and those that are included in any of Gorilla’s future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
Investor Relations Contact: Dave Gentry RedChip Companies, Inc. 1-407-644-4256 GRRR@redchip.com
The issuer is solely responsible for the content of this announcement.
NINGBO, CHINA – Media OutReach Newswire – 29 October 2024 – The highly anticipated 9th Zhejiang Book Fair and the 2024 Maritime Silk Road Culture and Tourism Expo, also known as the 2024 Ningbo International Tourism Expo (referred to as the “Maritime Silk Road culture and tourism grand expo”), officially kicked off in Ningbo, east China’s Zhejiang Province on the October 25. During the expo, the Ningbo Municipal People’s Government rolled out the “People in Ningbo” video series to tell the stories of individuals living, starting businesses, and striving for a better future in this city.
Rajesh has been living in Ningbo for over 14 years and has opened two Indian restaurants. Over the course of these 14 years, he has witnessed the magnificent transformation of this city from tradition to modernity, experiencing its rich cultural atmosphere and facilitating business environment. Ningbo’s inclusiveness and multiculturalism have built bridges for him and his friends from different countries, where they share their stories and cuisines.
With its long history and global connectivity, Ningbo continues to attract talents from all over the world to settle down and thrive in this coastal city. A series of stories about the transformation of Ningbo are unfolding gradually.
Rajesh has been living in Ningbo for over 14 years and has opened two Indian restaurants. Over the course of these 14 years, he has witnessed the magnificent transformation of this city from tradition to modernity, experiencing its rich cultural atmosphere and facilitating business environment. Ningbo’s inclusiveness and multiculturalism have built bridges for him and his friends from different countries, where they share their stories and cuisines.
Ningbo ranks among the top ten most attractive Chinese cities for foreign talents, and the continuous growth of the foreign population has created a vibrant international atmosphere, promoting profound cultural exchanges and integration. According to Rajesh, this trend not only enriches Ningbo’s cultural essence but also injects new vitality into the local economic development.
In his eyes, Ningbo offers not only comfortable and lush natural scenery but also a rich culinary culture. He has been deeply inspired by the hospitality of this city and is determined to introduce traditional Indian cuisine to more Ningbo residents. Through Rajesh’s story, one can appreciate the unique charm of Ningbo and witness the true portrayal of foreigners blending with local culture and jointly creating a happy chapter of life. This is not only a tribute to Ningbo but also a salute to every dream pursuer living here.
Hashtag: #Ningbo
The issuer is solely responsible for the content of this announcement.
DUBAI, UAE – Media OutReach Newswire – 29 October 2024 – During an official visit to the United Arab Emirates (UAE), Vietnamese Prime Minister Pham Minh Chinh witnessed the signing of Memoranda of Understanding (MOUs) between Vingroup, VinFast, and leading partners in the Middle East. These MOUs cover strategic areas, including maritime development and shipyard building capabilities, sustainable coastal land utilization, digital transformation, and collaboration in electric vehicles and green transportation. The simultaneous signing between Vingroup, VinFast, and the four leading corporations not only fosters business connections between Vietnam and the UAE, but also reaffirms Vingroup’s established capabilities and position in the former’s key investment sectors.
Vice Chairwoman of Vingroup, Ms. Le Thi Thu Thuy, and Mr. Nguyen Viet Quang (third and fourth from the left) with Middle Eastern partners at the MOU signing ceremony.
In the presence of Prime Minister Pham Minh Chinh at the Vietnam-UAE Business Forum, Vingroup signed MOUs with three partners: AD Ports Group, NMDC, and Benya Technologies, while VinFast signed an MOU with Emirates Driving Company (EDC). The partnerships will focus on four strategic areas.
In maritime logistics, AD Ports Group, one of the leading port management and logistics development companies in the UAE, will investigate opportunities to collaborate with Vingroup in the joint development of shipyard building capabilities, logistics ecosystems, and seaport operations. This partnership aims to advance logistics modernization and manufacturing in Vietnam.
Under the MOU, Vingroup will assess which potential projects could be secured for development, where it could oversee construction, provide essential infrastructure, and engage with local partners. Meanwhile, AD Ports Group will manage the operational aspects of the projects, while connecting with international customers.
For sustainable coastal land development, Vingroup and NMDC, a leader in coastal infrastructure and coastal protection, will explore cooperation in various areas, such as a project to reclaim 150 million cubic meters of coastal land for urban development, large-scale coastal reclamation for industrial and real estate purposes, sustainable coastal protection for high-end real estate, and other coastal-related projects.
Vingroup will take the lead in developing high-end real estate and urban projects, while NMDC will provide advanced technical solutions to enhance sustainability and minimize the impact on marine ecosystems.
Once operational, these projects are expected to create thousands of local jobs, boost economic development in coastal areas, and contribute significantly to Vietnam’s coastal tourism and services sectors.
In digital transformation, Vingroup and Benya Technologies, representing a group of investors from the Middle East and Africa exploring investment opportunities in Vietnam, will assess feasibility and develop plans for several projects, including a hyper-scale data center and related technical, power, and water treatment infrastructure. The total investment is estimated at $3.5 billion.
The hyper-scale data center project will be developed in three phases, reaching an estimated capacity of 300 MW, with the aim of meeting both domestic and international digital infrastructure needs and contributing to local social and economic development.
Additionally, VinFast, a subsidiary of Vingroup, signed an MOU with Emirates Driving Company (EDC), Abu Dhabi’s leading driver training and road safety institute, with a focus on electric vehicles, driver training in Vietnam, and investment to support Abu Dhabi’s industrial sector.
Under this agreement, EDC will lead a consortium investing in VinFast. In addition to gaining access to funding, VinFast will benefit from EDC’s expertise in driver training and road safety, supporting the development of a comprehensive electric vehicle ecosystem.
This partnership aims to enhance global electric vehicle production, meet the growing demand for green transportation, increase road safety awareness, and reaffirm EDC’s commitment to contributing to the Middle East’s green transportation revolution, addressing environmental and climate challenges.
The four areas in which Vingroup and VinFast signed MOUs with leading UAE corporations are based on Vietnam’s inherent advantage, which lies in its marine economy, while maximizing Vingroup’s proven strengths in urban development, tourism, service logistics, technology, and industry. These favorable conditions for cooperation provide a solid foundation for the future success of these MOUs, helping to ensure a lasting connection between businesses from both nations.
Remarks by the Companies’ representatives
Ms. Le Thi Thu Thuy, Vice Chairwoman of Vingroup, shared, “Our partnerships with strategic Middle Eastern partners will open major opportunities for Vingroup and VinFast to promote technology, infrastructure, and green economy development in Vietnam, while building a solid foundation for international expansion. We believe that the strength of Vingroup’s ecosystem and our deep local insight, combined with the experience of our partners, will lead to the success of these projects, actively contributing to sustainable development, infrastructure modernization, and improved quality of life for Vietnamese people.”
Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “Vietnam is one of the fastest-growing economies in Asia, with GDP forecast to continue rising in the next few years. We are excited about the possibility of working with Vingroup to help modernise the nation’s ports, maritime and logistics infrastructure, while boosting Vietnam’s role as an international trade hub. Under the vision of our wise leadership, AD Ports Group looks forward to extending its activities into Southeast Asia and helping Vietnam improve its interconnectivity with the global trade ecosystem.”
A representative from NMDC stated: “We are proud to collaborate with Vingroup on these strategic projects in Vietnam. With NMDC’s extensive experience and capabilities in coastal reclamation and protection, we believe this partnership will create outstanding value for both parties while promoting sustainable environmental and community development in Vietnam.”
Mr. Ahmed Mekky, Chairman and CEO of Benya Technologies, stated: “We are thrilled to partner with Vingroup to tap into the vast potential of the global big data and cloud computing markets. Vingroup’s reputation and strong execution capabilities give us great confidence in this partnership. We believe that this collaboration will not only benefit both companies but also contribute significantly to the development of the digital economy in Vietnam and the region, creating lasting value for society and the community.”
Mr. Khaled Al Shemeili, CEO of EDC, said: “EDC has accumulated more than two decades of experience in driving education and road safety, and sets the global benchmark for the industry through its commitment to innovation, research and development into best practices, and deep expertise. EDC now aspires to be a leader in the mobility sector as a whole and play a pivotal role in disrupting this industry, positioning itself at the forefront of smart mobility, vehicle electrification and autonomy. We recognise the immense potential of electric transportation worldwide, and we are particularly optimistic about VinFast’s prospects in the Middle East.”
The issuer is solely responsible for the content of this announcement.
About Vingroup
Established in 1993, Vingroup is one of the leading private conglomerates in the region and currently focuses on three main areas: Technology and Industry, Services and Social Enterprise. Find out more at: https://www.vingroup.net/en.
About VinFast
VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam’s largest conglomerates, is a pure-play electric vehicle (“EV”) manufacturer with the mission of making EVs accessible to everyone. VinFast’s product lineup today includes a wide range of electric SUVs, e-scooters, and e-buses. VinFast is currently embarking on its next growth phase through rapid expansion of its distribution and dealership network globally and increasing its manufacturing capacities with a focus on key markets across North America, Europe and Asia. Learn more at: https://vinfastauto.com/en.
About AD Ports Group
Established in 2006, AD Ports Group today serves as one of the world’s premier facilitators of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world. Listed on the Abu Dhabi Securities Exchange (ADX: ADPORTS), AD Ports Group’s vertically integrated business approach has proven instrumental in driving the Emirate’s economic development over the past decade.
Operating five business clusters covering Ports, Economic Cities & Free Zones, Maritime & Shipping, Logistics, and Digital, AD Ports Group’s portfolio comprises 33 terminals, with a presence in over 50 countries, and more than 550 square kilometres of economic zones within KEZAD Group, the largest integrated trade, logistics, and industrial business grouping in the Middle East.
Find out more at: adportsgroup.com
About NMDC
NMDC Group is a top-ranking marine contractor and projects developer of large-scale marine and coastal infrastructure works and is specialized in providing innovative solutions for complex sustainable infrastructure or urban development projects as well as the construction of port and related industrial land projects and services.
About Emirates Driving Company (EDC)
Established in 2000, Emirates Driving Company (EDC) is Abu Dhabi’s leading driver training and road safety institute. Driven by a desire to implement the best practices in driver training and road safety education across the emirate, it is on a mission to create safer roads by innovating, collaborating and investing in new technologies and smarter operating models.
A socially responsible company founded on the values of integrity and inclusivity, EDC has set a new standard in traffic safety and education in the Middle East.
EDC’s state-of-the-art facility features the most advanced communication tools, control systems and cutting-edge techniques in the industry, and all its expert training is delivered to internationally recognised standards. For more information, visit www.edcad.ae
About Benya Technologies
Benya Technologies is a renowned provider of ICT infrastructure and digital solutions in Egypt and the broader Middle East and North Africa (MEA) region. Offering a wealth of products, services and digital solutions including telecommunication services, cloud, and security solutions, Benya empowers businesses and organizations to thrive in the digital age.
Leveraging cutting-edge technology and a deep understanding of industry needs, Benya Technologies has established itself as a trusted partner for both public and private sector organizations. Benya Group is dedicated to building a digitally united and smart MEA Region.
Thae Su Nyein, Miss Grand Myanmar (Photo: The Global Filipino Magazine)
Controversy erupted in the international pageant community after Miss Grand Myanmar, Thae Su Nyein, stepped down from her position as 2nd runner-up following a ruling by Miss Grand International (MGI), which held its latest pageant in Bangkok, Thailand, on 25 October.