Weekly Update Jun 6: World Blood Donor Day, Joint Networking, Palooza Party, Independence Day Picnic

Highlights

Events, Meetings, Activities, and Special Offers for Members
Organized by the AmCham Corporate Social Responsibility (CSR) Group for AmCham companies and staff.

Until Aug 31 “Spring and Summer” Offer at The Six Senses Con Dao Enjoy your stay at Vietnam’s newest International luxury resort at special promotional rates for an Ocean Front Villa or 3-Bedroom Villa. Special offer for Vietnam Residents.

Sa, May 28 – Jun 25 Saturday Brunch at Legend Hotel Saigon Why wait until Sunday to enjoy brunch? This Saturday take your family out for an unforgettable brunch experience at Legend Hotel Saigon. The luxury river-front five-star international hotel is offering buffet brunch not only on Sundays but from now until 25 June on Saturdays as well.

Mo, Jun 6 Vietnam – Global Investment Destination – An Arbitral Prospective Review recent investment activities, and how companies in oil, gas & energy, resources and mining, manufacturing, will affect the FDI environment and M&A activities. Keynote address by the Deputy Minister of Justice. Organized by Singapore International Arbitration Centre and Vietnam International Arbitration Centre.

We, Jun 15 AmCham – EuroCham Joint Networking Night

Tu-We, Jun 21-22 Global Labour Trends: Impact on Vietnam’s Labour Market What does Vietnam need to do to make its workforce remain the most competitive against its neighbours?

We, Jun 22, Young Professional Palooza Party at Purple Jade at InterContinental Asiana Saigon Monthly networking event for young professionals at the coolest and latest nightspots in Ho Chi Minh City. A platform to develop new friendships, and information exchange.

Until Jun 26 Legend Hotel Saigon’s Weekend Getaway Package The hotel is offering Vietnamese and expatriates residing in Vietnam with Weekend Getaway Package at only US$ 99++ per night for single or double occupancy in a Deluxe Room with several special benefits.

Thu, Jul 7 How to Manage a Crisis that Hurts Your Company’s Reputation? Most crises are usually guessed to come from the external causes, but the reality is that 75% of them are internally-originated. The Ogilvy Brandshield method breaks down into three main areas: Prevent, Contain, and Grow. Case studies will be presented throughout the presentation.

Th, Jul 14, Roundtable with Customs Department – SAVE THE DATE Many FDI companies have challenges in dealing with Customs. Join this Roundtable to improve communications and understanding. Joint event with AmCham, EuroCham, and other FBA.

Plan ahead. Click here to see all upcoming Events and Committee Meetings

Stay informed about Vietnam-U.S. trade and investment with Weekly Updates (Past Issues).

News and Issues Updates

Why U.S. Textile Groups Fear Vietnam in TPP Pact Textiles is a sensitive industry for the US, which fears that the free trade agreement will not only flood American markets with Vietnamese clothing, but also provide limited opportunities for US yarn and fabric makers. Specifically, a group of 52 US lawmakers linked to the textile industry sent a letter to US Trade Representative (USTR) Ron Kirk calling for tougher rules on Vietnam until it adopts free market principles

52 Congressmen Sign Letter Urging Textile Strong Rules of Origin in Trans-Pacific Partnership (TPP) Special market access rules should be negotiated for Vietnam’s “non-market economy;” the basic yarn-forward rule of origin for textiles and apparel should be adopted under the TPP with no loopholes; and customs enforcement rules must be strengthened.

U.S. should limit Vietnam market access in the TPP, 52 American Representatives asy “Noting Vietnam’s non-market economy status and the subsequent inherent advantages provided to its textile and apparel sector, special market access rules should be negotiated. Furthermore, Vietnam should be required to meet certain transparency and market-based economy benchmarks before gaining benefits,” the legislators said in the letter.

Foreign groups, diplomats decry Vietnam import rules The rules are widely understood to have been introduced in an attempt to narrow the country’s trade deficit, which economists say is a potential drain on foreign exchange reserves and a drag on the dong currency.

Pinnacle to develop hotel-casino in Vietnam Pinnacle, which operates seven casinos in riverboat markets, said it would spend $ 95 million to acquire a 26 percent interest in the company developing the Ho Tram Strip project, approximately 80 miles southeast of Ho Chi Minh City. Pinnacle will build a hotel-casino on the site.

Mapletree to launch three new property funds in China, Vietnam, Japan About US$ 500 million will be used for the Vietnam Fund, which focuses on mixed retail, office and serviced apartment projects in major Vietnamese cities. It is expected for launch in 2013. Mapletree Investments counts a retail and serviced apartment property in Hanoi and an upcoming retail and serviced apartment project in Ho Chi Minh City. It is targeting an annual rate of return of 22 per cent.

Inflation picks up in Vietnam The consumer price index rose 19.78% in May compared with the year-ago period, up from 17.51% in April, the General Statistics Office said Tuesday. May’s result was the highest level since December 2008.

Vietnam stocks tumble to lowest since 2009 on inflation reports The VN Index on the Ho Chi Minh City Stock Exchange slumped 3.5 percent to 417.82 at the 11 a.m. local time close. Bao Viet Holdings, the biggest insurer, sank 4.5 percent to 74,000 dong, the lowest close since April 14. Masan Group Corp. (MSN), the third- most valuable company on the bourse, plunged 4.6 percent to 92,500 dong.

Vietnam index breach prompts “mass exodus” – techical analysis The index has plummeted through 420, approximately where it “bounced” higher on four occasions since the middle of 2009.

Vietnam’s electronics sector seen floundering The import turnover for electronic products, computers and spare parts reached US$ 1.76 billion in the first four months, an increase of 29.7 percent over the same period last year.

Personal Safety in HCM City Over the last several months, there have been reported and verified instances of pick-pocketing, bag snatches, and residential break-ins targeting the expatriate community. Additionally, two residential guards of an ex-pat residential compound were found murdered while on duty. Please take your own personal safety and security seriously in order to avoid becoming a victim.

U.S. Investment and Trade Opportunities in Vietnam’s Southern Key Economic Region A “third wave” of U.S. FDI interest in Vietnam offers business opportunities. A robust and efficient trading and distribution environment is essential to support modern manufacturing industry for global markets.

Vietnam and the Trans-Pacific Partnership (TPP) Trade Agreement) The TPP negotiating partners currently include Australia, Brunei Darussalam, Chile, New Zealand, Peru, Singapore, Vietnam, and the United States. Malaysia has officially requested to join the TPP negotiations.

Developing a 21st Century Workforce in Vietnam Vietnam’s top technical universities, working with universities in the U.S., Intel, and the U.S. and Vietnamese governments, have embarked on an ambitious initiative to modernize their engineering degree programs, in the “Higher Engineering Education Alliance Program.”

Vietnam Competitiveness Report, 2010 – Michael Porter, et. al. Vietnam’s growth since the mid-1980s has been driven by transition and structural change. More recently, the policy response mainly focuses on intensifying investment, especially in SOEs and infrastructure, to generate growth rather than on upgrading productivity and efficiency. But the economic logic behind this growth model ultimately has limited potential.

Vietnam Provincial Competitiveness Index, 2010 Using new survey data from 7,300 businesses in Vietnam that describe firm perceptions of their local business environments and hard data, the PCI 2010 continues to benchmark the capacity of local governments to develop regulatory environments for private sector development. The PCI 2010 report includes a special feature on survey results from 1,155 foreign invested enterprises.

Click this link to read News Highlights: Business, Trade, and Investment in Vietnam and Asia.

Last week’s most popular links to events and articles

Recent Events and Information Resources on AmCham Web Site

Event Presentations and PHOTO ALBUMS Did you miss an AmCham event? Were you there but wanted to have a copy of the presentation? Didn’t get the business card of the person you were talking with? Now you can download the presentations by clicking on the above link. Also, you can see a list of people that attended the event, with links to their company contact information.

Click the following links for recent event information and to download presentations

Online Membership Directory Looking for information on AmCham companies? Click here to browse the Online Membership Directory for information about and contact points for nearly 500 AmCham companies, and over 1,000 representatives. Members can contact other members by email via the AmCham web site. Also, links to company web sites for even more information about AmCham companies in Ho Chi Minh City.

Benefits and Services Review AmCham benefits and services and learn how you can benefit from Networking Online, with over 250,000+ visitors and 350,000+ page-views per month to amchamvietnam.com.

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