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Vietnam's main equity index in focus as the country deepens Thailand trade ties and pushes airlines to fast-track Boeing deals amid US trade scrutiny.

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Asia

World Bank Forecasts Vietnam GDP to Grow 6.8% in 2026

Vietnam is expected to see an economic growth of 6.8% in 2026, slowing from an 8% expansion in 2025, according to the World Bank's latest Viet Nam Economic Update posted on its website Friday.The nation's growth is driven by robust exports and investment, a resilient domestic market, and extensive reform measures.Vietnam's outlook remains solid, with risks elevated in the near term, according to the report."Softer global conditions are making Vietnam's external environment more challenging, with the oil shock adding to downside risks," Mariam J. Sherman, World Bank Division Director for Vietnam, Cambodia, and Lao PDR said.Stronger macroeconomic management and accelerating reforms are the way forward, according to the report.

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International

Fitch Sees Uneven Impact on APAC Finance Firms, Developed Markets More Resilient

Fitch Ratings said non-bank financial institutions in Asia-Pacific face uneven but broadly manageable risks from an energy shock linked to the US-Iran war, with developed markets expected to show greater resilience than emerging peers.The agency noted that higher fuel prices, imported inflation, softer demand and tighter funding conditions would weigh on finance and leasing companies, particularly in emerging markets. It added that currency weakness could further raise inflation and constrain monetary easing.Fitch warned that Vietnam and Thailand are more vulnerable due to faster fuel price transmission, riskier unsecured lending in Vietnam, and Thailand's already weak economic backdrop. India and Indonesia may also see higher funding costs as currency depreciation and inflation expectations push up interest rates, Fitch said.In contrast, China's leasing and asset management firms are expected to remain relatively stable, supported by controlled risk appetite and policy backing, despite property sector weakness.Developed Asia finance companies are seen as more resilient due to deeper funding markets and AI-related growth support, although SME exposure remains a key risk in some markets such as Taiwan, the agency said.

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Asia

Update: ENEOS to Acquire Chevron's Asia-Pacific Downstream Assets in $2.17 Billion Deal

(Updated to add ticker for ENEOS in the first paragraph)ENEOS Holdings (TYO:5020) signed share purchase agreements with several Chevron subsidiaries to acquire 100% of Chevron's downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia for $2.17 billion.The deal also includes the acquisition of a 50% non-operated interest in the Singapore Refining Co. from Chevron Singapore, according to a company release on Thursday.The acquisition will be carried out through a special purpose vehicle incorporated in Singapore.The transaction is slated to complete by 2027 and is subject to regulatory approvals, the filing said.

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Asia

ENEOS to Acquire Chevron's Asia-Pacific Downstream Assets in $2.17 Billion Deal

ENEOS Holdings signed share purchase agreements with several Chevron subsidiaries to acquire 100% of Chevron's downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia for $2.17 billion.The deal also includes the acquisition of a 50% non-operated interest in the Singapore Refining Co. from Chevron Singapore, according to a company release on Thursday.The acquisition will be carried out through a special purpose vehicle incorporated in Singapore.The transaction is slated to complete by 2027 and is subject to regulatory approvals, the filing said.

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Asia

Market Chatter: Vietnam Boosts Refined Petroleum Products Purchase in March-April

Vietnam's refined fuel imports rose nearly 17% in the March to April, Reuters reported Wednesday, citing the country's customs data.In terms of value, refined fuel imports were up 144% compared with a year earlier, the report said.The adjustment helped ease immediate supply pressures due to the Iran war, though it added strain to the country's trade balance, the report said.Inflation also accelerated to 5.46% in April, exceeding the government's 4.5% target.Vietnam increased imports from Malaysia and South Korea to make up for the declining fuel supplies from Singapore and China, the news agency reported, citing the data.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Vietnam Seeks Safe Passage for Crude Tanker Amid US Blockade

Vietnam's state oil trader PetroVietnam Oil has appealed to the US Navy to allow a supertanker carrying 2 million barrels of Iraqi crude to continue its voyage to Vietnam, after the vessel was redirected amid the US's expanded blockade in the Gulf, Reuters reported Wednesday.The Maltese-flagged Agio Fanourios I exited the Strait of Hormuz on May 10 before making a U-turn in the Gulf of Oman a day later, according to ship-tracking data on ​the MarineTraffic. The US Central Command said the vessel was redirected as part of measures linked to sanctions enforcement against Iran, the news agency said.In a May 12 letter, PVOIL warned that delays could disrupt operations at Vietnam's Nghi Son refinery, saying feedstock inventories were running critically low. The company stressed the cargo was Iraqi Basra crude supplied by Iraq's state marketer SOMO and not linked to Iranian oil, Reuters said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: India, Vietnam Target $25 Billion Bilateral Trade by 2030

India and Vietnam are looking to increase bilateral trade to $25 billion by 2030, The Star reported Wednesday, citing Indian Prime Minister Narendra Modi.The announcement came after discussions in Delhi between Modi and Vietnamese President To Lam. The talks focused on increasing cooperation in defense, security, education, digital payment systems, and rare earth minerals.The value of trade between the two countries has doubled over the past decade to reach $16 billion, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Vietnam Targets MSCI's Emerging Market Status by 2030

Vietnam is looking to achieve MSCI's emerging market status by 2030, Focus Taiwan reported, citing the Vietnam Economic and Cultural Office in Taipei.The efforts are backed by measures to attract investment and reform financial markets, among other things.The country is in a pivotal phase aiming to become a high-income country by 2045, following nearly 40 years of implementing Doi Moi (Renovation), the report said, citing the office.FTSE Russell is reportedly planning to upgrade Vietnam to emerging market status on Sept. 21 from frontier status currently, a move expected to attract significant inflows from global funds.Inflows are already moving to higher value-added sectors, including but not limited to technology, smart manufacturing, and the digital economy, the office said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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US Markets

Asian Industry Sustains Expansion in April: PMI Report

Despite headwinds from Persian Gulf turmoils, Asia's business sectors largely expanded in April, led by the automobile industry, reported S&P Global on Wednesday."Output growth was recorded across 16 of the 18 monitored Asian sectors in April. This figure was up from 15 in March, as metals & mining production returned to growth," said S&P Global, citing its surveys of regional economies.Showing strength in April was the automotive industry. "Leading the rankings for the first time in nearly two years was the automobiles & auto parts sector. The pace of output expansion in the sector quickened to the steepest since May 2024 and was rapid overall," explained S&P Global.Among the broader categories, consumer products did generally well in April."Consumer goods outperformed the other six tracked areas, with growth also supported by strong and accelerated expansions in output across the beverages & food and household & personal use products segments," added S&P Global.The tech and industrial sectors followed consumer goods on the upside, while the slowest expanding sectors were basic materials, financials and healthcare.In contrast to the general regional expansion, the forestry & paper products and construction materials sectors experienced softening in April, reported S&P Global.However, Asian business managers also reported rising and accelerating costs of operation in April."On the prices front, the latest data indicated that cost burdens rose in 17 of the 18 monitored sectors in April. Notably, the majority of these saw expenses increase at a stronger pace than in March," said S&P Global.Of the 18 monitored industries, only banks and real estate lowered output charges, said the credit-rating agency.The Asia Sector PMI indices were compiled by S&P Global from surveys received from 6,000 Asian private-sector companies.

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Asia

Market Chatter: ASEAN Leaders to Gather in Philippines as US-Iran War Pressures Region

Leaders of the Association of Southeast Asian Nations (ASEAN) are set to confront the widening economic shock of the Iran conflict at this week's summit in the Philippines, with inflation and supply disruptions taking center stage, Nikkei Asian Review reported on Wednesday.The talks will also cover the crisis in Myanmar and efforts to advance a South China Sea code of conduct. Attacks linked to the US-Iran war have choked shipping through the Strait of Hormuz, disrupting global supplies of oil and gas and leading to surging prices. Energy-importing economies such as the Philippines, Thailand and Vietnam are facing rising costs and strained supply chains, prompting subsidies, shorter work weeks and emergency measures. reportedly.Analysts say ASEAN's calls for de-escalation have had a limited impact, leaving leaders under pressure to respond. Divisions persist over Myanmar policy, while long-running negotiations with China on a South China Sea code are unlikely to conclude soon amid competing priorities and geopolitical tensions, the Nikkei said.The 48th ASEAN Summit and related meetings are taking place in Cebu, Philippines, from May 6 to May 8, 2026.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: SouthEast Asian Rice Farmers Bear Brunt of Burgeoning Costs Amid Middle East Conflict

Rice farmers across South and Southeast Asia face mounting cost pressure ahead of the planting season as fertilizer prices spike, raising concerns over regional food supply, Nikkei Asian Review reported Wednesday.Fueled by geopolitical instability in the Middle East, urea prices climbed 18% in April after surging 54% in March. Benchmark urea prices hit $857 per ton in April, according to the World Bank, more than doubling from a year earlier and surpassing March's four-year high, the report said.This follows the closure of the Strait of Hormuz, which disrupted exports from Qatar and Saudi Arabia. The two countries account for roughly a third of global supply, according to the report.Higher input costs are forcing farmers to cut fertilizer use, risking weaker yields as the rice-growing season begins. With Asia heavily reliant on Gulf supplies, prolonged disruption could trigger shortages, while rising energy and transport costs may push overall production expenses up by as much as 80%, the Nikkei said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Moody's Improves Vietnam Outlook to Positive; Affirms Ratings

Moody's Ratings raised its outlook on the Government of Vietnam to "positive" from "stable" while affirming its issuer and senior unsecured rating at Ba2, according to a release by the ratings agency on Monday.The improved outlook reflects the country's potential to improve ​its credit profile over the next few years, as well as strengthening institutions and governance, the rating agency said.Risks linked to US trade policies are now also seen as less severe than previously expected.The affirmation of the Ba2 rating reflects the country's "strong growth potential, improving macroeconomic stability, and sustained attractiveness as a foreign investment destination," Moody's said.

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International

ASEAN Manufacturing Growth Slows to Nine-Month Low in April, S&P Global Says

ASEAN's manufacturing sector expanded at a slower pace in April, with growth easing to a nine-month low as price pressures intensified, according to data released by S&P Global on Tuesday.The S&P Global ASEAN Manufacturing Purchasing Managers' Index fell to 50.7 in April from 51.8 in March, marking the weakest reading since July but extending the current expansion streak to nine months.New order growth slowed to an eight-month low, while production growth eased further and moved close to stagnation. New export orders declined for a second straight month at the fastest pace since last July.Firms cut employment for the first time in eight months, while purchasing activity increased.On the price front, input cost inflation surged to its highest level since March 2022, while output prices rose at the fastest pace in 49 months, reflecting stronger cost pass-through by firms.Despite challenges and weak historical levels, business confidence stayed positive in April, with manufacturers expecting production to grow over the next year, the report said.

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US Markets

Vietnam Manufacturing Pressured in April: PMI Report

Vietnam's manufacturing sector was pressured by declining orders and rising costs in April, reported S&P Global on Monday.The Vietnam manufacturing purchasing managers index (PMI) dropped to a seven-month low of 50.5 in April, down from 51.2 in March, though still marginally pointing at sector health, said S&P Global, citing its monthly survey.Vietnam factory managers reported that "new orders decreased for the first time in eight months" while manufacturers cut payrolls and hours, said S&P Global.Factor managers reported backlogs of work fell for the fourth time in five months during April, and that they they cut purchasing and inventory holdings in the month, advised S&P Global.Not surprisingly, Vietnamese factory managers were less optimistic in April."Concerns around the impacts of the war in the Middle East led to a further waning of optimism among Vietnamese manufacturers. Sentiment dipped to a seven-month low and was weaker than the series average," explained S&P Global.Vietnam's factory output "seems likely" to decline in coming months "unless the price and supply environments improve soon," said S&P Global.The Vietnam manufacturing PMI was compiled by S&P Global from survey sent to 400 manufacturers from April 9 through April 22.

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International

Asia Week Ahead: PMI Reports; Central Bank Decisions; and Inflation Prints

For the week ahead in Asia, the economic calendar is packed with S&P Global's monthly purchasing managers' index reports, inflation prints, and central bank decisions across the region.Monday brings a slate of S&P Global manufacturing PMI reports for April, alongside Indonesia's inflation and trade figures.On Tuesday, markets will turn to the Reserve Bank of Australia's interest rate decision, while Thailand and the Philippines release April inflation data.Wednesday features South Korea's April inflation print and New Zealand's first-quarter labor-market report, along with PMI readings from India, China, Hong Kong and Singapore.On Thursday, Malaysia's central bank decision will be in focus, alongside Taiwan's April inflation data and the Philippines' first-quarter GDP report.On Friday, Taiwan's April trade data and Malaysia's March industrial production figures will be due, before China closes out the week with April trade figures on Saturday.Here's what to watch in the week ahead.MONDAY, May 4The week kicked off with a slate of S&P Global purchasing managers' index reports covering manufacturing activity during April.Most economies in the region saw a rise in output despite the ongoing conflict in the Middle East which has pushed oil prices upwards.Malaysia's manufacturing sector expanded at its fastest pace in four years in April, supported by stronger output and a return to growth in new orders.The S&P Global Malaysia Manufacturing Purchasing Managers' Index rose to 51.6 in April from 50.7 in March, marking a second straight month of expansion.Output grew at the fastest pace since December 2021, while new orders increased as firms and clients built safety stocks amid uncertainty linked to the Middle East war.Output activity also expanded in South Korea, India, and Taiwan, according to S&P Global.Meanwhile, Vietnam's manufacturing sector also expanded, albeit at a slower pace.The S&P Global Vietnam Manufacturing PMI slipped to 50.5 in April from 51.2 in March, a seven-month low, signalling a tenth straight month of expansion but only marginal growth.In contrast, Indonesia's manufacturing sector slipped into contraction in April as cost pressures intensified due to material shortages and delays linked to the Middle East conflict.The S&P Global Indonesia Manufacturing Purchasing Managers' Index fell to 49.1 in April from 50.1 in March, dropping below the 50 mark for the first time in nine months.Manufacturing activity similarly slipped in the Philippines as new orders fell sharply and cost pressures intensified.Indonesia released inflation figures, noting a 2.4% year on year rise in prices during April -- slower than the 3.5% recorded a month prior.The island state also booked a trade surplus of $5.55 billion in the first quarter, supported by a strong non-oil and gas balance despite higher import growth, according to official data released by Statistics Indonesia.The Melbourne Institute released its monthly inflation gauge, noting another increase in April, mainly driven by higher recreation-related prices. The monthly cost of living also increased in April, especially for employees and self-funded retirees.TUESDAY, May 5An interest rate decision in Australia will capture headlines on Tuesday.The Reserve Bank of Australia is likely to rate hikes by 25 basis points to 4.35% as persistent inflation pressures and rising fuel costs linked to Middle East supply disruptions keeps the central bank on a hawkish path even as global peers hold steady.Thailand and the Philippines will release inflation data for April.Economists at ING said they expect the Philippines' headline inflation to rise above 5% as the government passes on the impact of higher global oil prices onto consumers. The Philippines' inflation climbed to 4.1% in March.Thailand is similarly expected to see a rise in consumer prices during April. According to a consensus compiled by Trading Economics, headline inflation could clock in at 1.7% on an annual basis, compared with a 0.08% decline in March.First-quarter gross domestic growth data will be due in Indonesia. DBS said it was forecasting 5.6% growth for the quarter thanks to government spending and festive spending during the period, the Wall Street Journal reported.Hong Kong will similarly release its first-quarter advance GDP growth estimate on Tuesday.Meanwhile, March retail sales figures will be expected in Singapore.On the activity front, S&P Global will release PMI reports manufacturing activity in Thailand and services and composite activity in Australia.WEDNESDAY, May 6Another inflation print, this time in South Korea.Economists at ING said they expect consumer prices to rise at a faster pace in April despite attempts by Seoul to rein in the impact of rising oil costs on consumers. A consensus compiled by Trading Economics indicated headline inflation could clock in at 2.6%.In March, South Korea's annual inflation rose to 2.2%, breaching the central bank's 2% target.First-quarter labor data from New Zealand will also be in the news.CommBank expects headline labor-market figures to remain weak, forecasting just 0.1% quarterly employment growth and a rise in unemployment to 5.5%, compared with Trading Economics consensus estimates of 0.3% employment growth and a 5.4% jobless rate for the first quarter."We do not envisage a labor market recovery until 2027, reflective of adverse impacts from geopolitical ructions," CommBank said in a preview.The Philippines will similarly release labor data for March, as well as industrial production figures.ING said it expects unemployment to edge higher. "On the industry side, weak soft construction activity should continue to weigh on growth," ING said.Additional S&P Global PMI reports covering services and composite activity in India and China, as well as overall activity in Hong Kong and Singapore, will be due.A business confidence report will be due in Thailand, while Hong Kong's March retail sales figures will also be on display.THURSDAY, May 7Malaysia's central bank will meet for its interest rate decision, with no change expected in the 2.75% policy rate.RHB Bank said it expects Bank Negara Malaysia to hold rates as growth remains steady and inflation remains in check, the Wall Street Journal reported.Taiwan's April inflation print will be due, with analysts looking for signs on how the Iran war was weighing in on prices. ING said it expects to see inflationary pressure picking up after limited pass through of energy prices in March.Australia will release March trade figures. The country's trade surplus could fall to A$4.45 billion from the A$5.69 billion recorded in the month prior, according to a consensus compiled by Trading Economics.CommBank said it expects the goods trade balance to decline due to rising fuel imports in the wake of the Iran conflict.The Philippines' first-quarter GDP growth figures will be expected. ING said the Philippines' economy could recover to a growth of 4.3% year on year thanks to favorable base effects and some pick-up in government spending.The Philippines' economy grew by 3% last quarter.Another confidence report covering consumer sentiment will be due in Thailand.FRIDAY, May 8Markets will be on the lookout for Taiwan's trade data for April.ING said it expects the island state's trade surplus to rise to $21.6 billion from $21.3 billion in the month prior. "We're looking for another strong month, with 59.3% YoY export growth and 35.5% import growth," ING said in a preview.In Malaysia, March industrial production figures will be due.S&P Global will release PMI reports covering services and composite activity in Japan.SATURDAY, May 9China will release its April trade data on Saturday.The world's second largest economy could record a surplus of $82.4 billion for the month, rising from $51.13 billion in March, according to a consensus compiled by Trading Economics.Analysts at DBS expect a sharp uptick in surplus, with export growth more than doubling to 8.4% from the 2.5% rise seen in March, the WSJ reported.

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Asia

Market Chatter: Southeast Asians Turn to New Crude Oil Suppliers Amid Middle East Crisis

Southeast Asian countries are changing where they buy crude oil, moving away from Gulf suppliers and turning to places like the US, Brunei and Libya, Nikkei Asian Review reported Monday, citing trade data and Kpler shipping figures.The shift comes as disruptions in Middle Eastern supply routes have hit flows through the Strait of Hormuz, pushing import-reliant economies such as Thailand and Vietnam to look for new sources. Thailand's imports from the UAE fell sharply in April, while shipments from Brunei and Libya increased, according to the report.Vietnam has also reworked its supply mix, with lower volumes from traditional suppliers offset by arrivals from countries including Angola, Argentina and the United States. Singapore has similarly cut reliance on Gulf crude, with most of its imports now sourced from the US, the news outlet said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

Vietnam's Inflation Accelerates to 5.46% in April

Vietnam's consumer price index (CPI) rose 5.46% year on year in April, faster than the 4.65% growth in the previous month, according to data from the country's General Statistics Office on Monday.Monthly, the CPI edged up 0.84%, the data showed.Core inflation, which excludes selected food and energy items, stood at 3.89% in April.In the first four months of 2026, the CPI rose 3.99% on average, compared with the same period last year.

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International

Vietnam's Industrial Production Growth Accelerates to 9.9% in April

Vietnam's industrial production index (IIP) rose 9.9% year on year in April, according to data from the country's General Statistics Office on Monday.The pace of growth accelerated from the 6.9% expansion in March.On a month-over-month basis, the index increased 3% in April from March, recovering from the 18.8% drop between February and March.By sector, manufacturing and processing output grew 10% year on year, while electricity production and distribution rose 10.9%.Mining output increased 7.6%, while water supply, waste management and treatment activities climbed 7.1%, the data showed.

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International

Vietnam's Manufacturing Growth Slows as Costs Hit 15-Year High, S&P Global Says

Vietnam's manufacturing sector expanded at a slower pace in April as new orders fell and cost pressures surged, according to data released Monday by S&P Global.The S&P Global Vietnam Manufacturing PMI slipped to 50.5 in April from 51.2 in March, a seven-month low, signalling a tenth straight month of expansion but only marginal growth.New orders declined for the first time in eight months, with export orders falling for a second consecutive month amid higher transportation costs.Output continued to rise for the twelfth month, though growth eased to a ten-month low as rising costs, supply shortages, and market instability linked to the Middle East war weighed on activity.Input costs rose at the fastest pace in 15 years, driven by higher fuel, oil, and transportation costs, prompting firms to raise selling prices at the sharpest rate since April 2011.Firms cut employment, purchasing activity and inventories, while supplier delivery times lengthened sharply and business confidence weakened to a seven-month low

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US Markets

ADB Pledges $70 Billion For Energy, Digital Networks Across APAC as Middle East Conflict Batters Outlook

The Asian Development Bank is committing $70 billion to support new energy and digital infrastructure initiatives across the Asia-Pacific region by 2035.ADB President Masato Kanda announced the pledge on Sunday during the lender's annual meeting in Uzbekistan."Energy and digital access will define the region's future," said Kanda. "These two initiatives build the systems Asia and the Pacific need to grow, compete, and connect. By linking power grids and digital networks across borders, we can lower costs, expand opportunity, and bring reliable power and digital access to hundreds of millions of people."The pledge comes as the ADB sharply downgraded its forecast for the APAC region, citing energy disruptions from the ongoing Middle East conflict.On Wednesday, the ADB slashed its GDP growth outlook for developing Asia and the Pacific to 4.7% in 2026 from the previous 5.1% forecast.Inflation for 2026 is projected to accelerate to 5.2% in 2026 from 3% in 2025, before easing to 4.1% in 2027."Our revised outlook is a significant downward revision for growth and a sharp increase in inflation following a special update to reflect the deepening crisis," Kanda said at the time.The bank's new outlook assumes that oil prices average around $96 a barrel in 2026, well above the $69 per barrel average in January and February before the Middle East conflict. The bank expects oil prices to ease to around $80 per barrel in 2027."We are confronting systemic, long-lasting disruptions to global energy and trade networks, not just temporary volatility. ADB will remain an agile partner in protecting the region's economy; tracking fast-moving risks, and moving with urgency to scale up our support," Kanda added.Diesel prices across several Southeast Asian countries have increased by more than 100% since late February, the ADB said in its updated outlook report.The ADB also noted in its Wednesday report that the energy shock is also affecting fertilizer prices, which it said could add to food inflation, particularly for economies most dependent on Middle East imports.Against that backdrop, the ADB is committing $70 billion to build new energy and digital infrastructure in Asia and the Pacific by 2035.The largest investment, worth $50 billion, will be allocated towards cross-border power infrastructure to unlock renewable energy at scale, the ADB said.The project will focus on transmission and grid integration, including cross-border lines, substations, storage, and grid digitalization, according to the lender.By 2035, the bank aims to integrate about 20 gigawatts of renewable energy across borders, connect 22,000 circuit-kilometers of transmission lines, and cut regional power sector emissions by 15%, while improving energy access for around 200 million people.The remaining $20 billion will fund the Asia-Pacific Digital Highway, targeting digital corridors, data infrastructure, and AI-ready economies.The project aims to bring first-time broadband access to 200 million people and cut connectivity costs in remote and landlocked areas by about 40%.The South Korean government will back a new Center for AI Innovation and Development in Seoul with a $20 million contribution. The center will aim to train about 3 million people in digital and AI-related skills by 2035.Separately on Sunday, the ADB also unveiled a Critical Minerals-to-Manufacturing Financing Partnership Facility designed to help the region move beyond mining into higher-value industries such as processing, manufacturing, and recycling.Japan committed $20 million to the grant window, the UK contributed $1.6 million, and the Korea Eximbank and the Korean Trade Insurance Corporation each signed $500 million memorandums as the facility's first partners.

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