Weekly Update Jan 23: TET Lunar New Year - Chức mừng năm mới (Jan 23-27); Winter Weekend (Feb 24-26)

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Highlights

Events, Meetings, Activities, and Special Offers

Mo-Fr, Jan 23-27 TET Lunar New Year (Official holidays all week) Offices closed. Click here for a list of Vietnamese and U.S. holidays. Click on the link to learn more about this holiday and TET customs in Vietnam, the Lunar Year calendar. Traditionally there are four main holidays: TET Eve (Su, Jan 22), and The First (Mo, Jan 23), Second (Tu, Jan 24), and Third (We, Jan 25) Days of TET Nguyen Dan. Based on the PM’s decision, offficial holidays, govt offices closed, for the whole week Mo, Jan 23 – Fr, Jan 27. Click this link for details

Tu, Feb 7 “The Year Ahead: Executive Summary and Outlook” (co-hosted CanCham event Well-known speakers from a variety of business sectors will present their outlooks, and identify challenges and likelihoods for the Year of the Dragon.

Fr, Feb 17 Vietnam’s Tertiary Education: Preparing Graduates for Work? (co-hosted BBGV event) Leaders in Vietnam’s tertiary education sector and business leaders will explore how universities and business could cooperate to bring the very large numbers of Vietnamese graduates into the work place more efficiently.

Fr-Su, Feb 24-26 Winter Weekend: Register Now Join other AmCham members and guests in a networking weekend, with Chairman’s Roundtable discussion of key issues in Vietnam-U.S. trade and investment and outlook for 2012. Three days/two nights including room with American breakfast, Fri: Welcome Wine & Cheese reception; Sat: Morning Chairman’s Roundtable, Evening Cocktails, Gala Dinner. Plus optional outings, golf, or just relax in the brisk mountain air.

Th-Fr, Mar 1-2 APCAC 2012 U.S. – Asia Business Summit (Tokyo) Over 300 senior leaders from business and government. Ambassadors from around the region. High-level American government trade policy and investment promotion officials from Washington. Business executives based in the region and from head offices in America. Japanese political and business leaders.

Mo-Tu, Mar 26-27 Asia Pacific Business Outlook 2012 (Los Angeles) Access 17 Asia/Pacific Markets in 2 days! If you are doing business in the Asia/Pacific region, this is the one conference you can’t afford to miss. Find answers to your questions on 17 economies by choosing from 60 focused sessions and private one-on-one consultations. Get the latest information and connect with expert and insiders. APBO’s 25th Anniversary: since 1987, APBO has been the premier business conference focused on trade and investment in Asian markets.

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

ISHCMC Celebrates Opening of New Wing and Launches HCMC’s only 1 to 1 computer tablet program ISHCMC held a ribbon-cutting ceremony and an Open House with nearly 300 students, teachers and parents on hand to join in the festivities.

World Bank, Vietnam sign almost USD 1 billion to develop infrastructure and reduce poverty to finance the Da Nang – Quang Ngai Expressway Project (US$ 613.5 million), Medium Cities Development Project (US$ 210 million) and the 10th Poverty Reduction Support Credit (US$ 150 million).

Vietnam Tourism Outlook Vietnam’s travel and tourism industry currently contributes 12.4 percent of Vietnam’s Gross Domestic Product (GDP). Real GDP growth for the travel and tourism economy is expected to average 7.3 per annum over the period 2011-2020.

VISA Global Travel Intentions Survey 2011 Praises Vietnam With its distinctive culture, beautiful natural landscapes and affordability, Viet Nam has emerged as one of the top destinations for travellers from Singapore, Thailand, Australia and South Korea, according to the recent Visa Global Travel Intentions Survey.

Baskin-Robbins Signs Master Franchising Agreement to Develop in Vietnam About 50 Baskin-Robbins restaurants to be opened in Vietnam over the next several years, The first three stores under the agreement opened in Ho Chi Minh City. Baskin-Robbins now has over 6,600 locations in nearly 50 countries.

Vietnam’s economy in 2011 (VietNamNet) Inflation (18%), vnd devaluation (9.3%), bank deposit (14%) and lending (20%) rates, public debt at 59% of GDP, 50,000 firms went out of business, according to MPI.

Business optimism in Vietnam drops from 80% in Q1 2011 to 34% in Q4 “We expect 2012 to be another challenging year. While exports performed extremely well in 2011, the rate of growth in 2012 is expected to slow and this slow-down could be significant if the EU problems are not resolved.”

Vietnam’s top economic news of 2011 (Tuoi Tre) 18.6% Inflation, high bank deposit (14%) and lending (18~20%) rates, real estate prices down 20~30%, followed by a series of insolvencies and bankruptcies in related industries, stock market index down 27.5% (HCMC) and 48.6% (Hanoi), gold prices soared, exports up 33.3% over 2010, tourism revenues up 35% over 2010.

Travel firms, hotels want to quote prices in foreign currencies Vietnam is losing foreign travelers because of the regulation on quoting in VND. Inbound tours should be seen as a kind of “export on the spot.”

Vietnam’s Dot.Com Boom Favorable demographics make it an attractive market for Internet entrepreneurs.

U.S. to probe imports of China, Vietnam wind towers The investigation could lead to steep import duties on more than $ 100 million worth of wind energy towers from China and Vietnam.

Vietnam’s richest and the stock market slump Vietnam’s real estate sector dominates: Some 30 property moguls accounted for nearly 63 percent of the total stock assets within the top 100.

Indonesia, Vietnam favorable ICT investment hotspots Growing domestic market, sustained government investments and opportunities in telecom sector help boost investment allure of both Southeast Asia economies, state analysts.

Vietnam – U.S. trade status and outlook, 2011 – 2020e Despite the difficult domestic and international economic environment, Vietnam – U.S. trade in 2011 continued its steady increase. Total bilateral trade in 2011 was about US$ 22 billion, with Vietnam’s exports to the U.S. about $ 17.5 billion (up 17%), and imports from the U.S. about $ 4.5 billion (up 19%), demonstrating once again that manufacturing foreign direct investment (FDI) and trade are strong and stable factors that support Vietnam’s economic and social development.

Western Union in Vietnam: Reaching a New Peak Reliable, Fast, Convenient: 8,000 transaction locations in Vietnam make it the largest international money remittance network in Vietnam, which received about US$ 8.5 billion in overseas remittances.

Asia-Pacific Trade and Investment News for the Asia-Pacific Council of American Chambers of Commerce (APCAC), prepared by the BGR Group.

U.S. Chamber Asia Weekly Update, Jan 18-22, 2012. The U.S. Chamber of Commerce represents 3,000,000 businesses, 2,800 state and local chambers, 830 business associations, and 115 American Chambers of Commerce in 102 economies.

Click this link to read AmCham 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

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

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