Industrial Parks Expansion: Vietnam-Singapore Industrial Park (VSIP) joint venture received investment registration certificates for five new industrial parks in Haiphong, Nghe An, Hue, Ha Nam and Ho Chi Minh City, pushing the network to 26 projects and aligning with VSIP’s “30 by 30” push amid tighter ESG and CBAM requirements. Defence & Security Forum: At the Shangri-La Dialogue in Singapore, US Defence Secretary Pete Hegseth urged allies to stop “freeloading” and lift defence spending, while also calling India a “critical anchor” for Indo-Pacific stability and praising its defence-industrial and logistics build-out. Maritime Risk & Energy Trade: Vietnam’s To Lam warned that the Strait of Hormuz shows how one flashpoint can disrupt global trade and energy flows, as ASEAN chief Kao Kim Hourn said US-China tension-easing efforts matter directly for Southeast Asia. US-Iran Talks Watch: Hegseth said the US is ready to restart attacks on Iran if no deal is reached, even as Trump weighs a “final determination” on extending the ceasefire and reopening Hormuz shipping. Local Logistics & Customs: Singapore-linked regional trade headaches also surfaced as the Philippines’ Bureau of Customs filed a complaint over nearly 40,000 abandoned “balikbayan” boxes, highlighting enforcement pressure on cargo compliance.