Posts

Mitsubishi Electric sets up Vietnam sales company

Jun 14, 2011. Japan’s Mitsubishi Electric Corporation announced that it had established a Vietnam company this month to coordinate sales of air-conditioning systems, home appliances and, from next year, factory automation products.

The Japanese company has so far primarily conducted sales in Vietnam indirectly through distributors, and shifts to direct sales now.

“Due to Vietnam’s remarkable growth prospects, Mitsubishi Electric is now positioning the country as a priority market and has decided to establish a local company to coordinate sales,” the manufacturer said in Tuesday’s announcement.

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Geert Peeters, head of Levi’s global supply chain – Interview

May 23, 2011. Heading up supply chain operations for Levi Strauss, the world’s largest denim brand, Geert Peeters strives to source jeans in a sustainable, fashionable and compliant way. just-style news editor Joe Ayling caught up with him at the sidelines of a London event to launch its new WaterLess line.

Levi Strauss & Co knows how to throw a party. just-style is at the launch of a collection of denim jeans requiring less water in their production, but it feels more rock and roll than that. Blue ‘waterless’ cocktails are served to guests, while a semi-naked male model poses for shots in a giant bath tub.

Eventually, key Levi Strauss executives including Geert Peeters, senior vice president for Levi’s global supply chain, take to a giant white stage and the DJ set is over.

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Develop an Anti-Corruption Compliance Program, Apr 20, 2011


Co-hosted by

110420 Co hosts

Event Description

Please click this link to Register Online

An anti-corruption compliance program is a necessity. Find out what proactive steps you can take to plan and implement a program at your company. The participation of Vietnam’s Deputy Inspector General, the Managing Director of Kroll Business Intelligence and Investigations, and Siemens Vietnam’s Head of Compliance in addition to legal experts make this program outstanding.

The FCPA affects small companies as well as large multinationals. For example, executives and employees of a small U.S. company operating in Vietnam were sentenced by a U.S. court in Sep 2010 to up to 16 months in prison and fines for paying bribes of more than $ 250,000 to Vietnamese government officials from 1999 – 2008.

The FCPA also affects non-American companies: Siemens, Daimler AG, BAE Systems, Innospec have each agreed to large settlements following lengthy investigations by U.S. regulators, often with cooperation from governments abroad. And 9 of the top 10 firms that have paid the largest fines are non-U.S. companies.

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Developing an Anti-Corruption Compliance Program, Apr 20, 2011


Event Description

Practical advice for starting an anti-corruption compliance program for your company. The participation of Vietnam’s Deputy Inspector General, the Managing Director of Kroll Business Intelligence and Investigations, and Siemens Vietnam’s Head of Compliance in addition to legal experts make this program outstanding.

While the Foreign Corrupt Practices Act was enacted in 1977, the FCPA became a much bigger threat to public companies in 2010.

Between 2004 and 2007, the Department of Justice and the SEC issued less than $ 350 million in FCPA-related fines. While totals for 2010 have not yet been tallied, fines of nearly $ 1.7 billion had been imposed as of mid-November, more than double the amount in 2009.

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Weekly Update Apr 11: Univ. Hawaii EMBA, Business in Laos, Anti-Corruption Compliance

Highlights

We, Apr 13 University of Hawaii Executive MBA Information Session
We, Apr 13 Doing Business in Laos
We, Apr 20 Developing an Anti-Corruption Compliance Program
Th, Apr 21 A Strategic Approach to Employee Communications
Tu, Apr 26 Health Risks in Vietnam and How to Protect Against Them
We, Apr 27 Young Professionals Palooza Party at Orientica Restaurant
Th, May 12 Dr. Le Dang Doanh: Re-gaining Macroeconomic Stability
Fr-Su, May 27-29 AmCham Dalat Weekend
Southern Key Economic Region: Ports, Industrial Parks, and Other Infrastructure
Asia Development Bank: “Skills Enhancement Project” Loan to Vietnam, 2010-2016

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Developing an Anti-Corruption Compliance Program, Apr 20, 2011


WHEN: Wed, Apr 20, 2011, 08:30am – 3:30pm
WHERE: New World Hotel Saigon, Ho Chi Minh City

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Protecting your corporation against FCPA liability in mergers & acquisitions

Mar 28, 2011. The Foreign Corrupt Practices Act (“FCPA”) prohibits U.S. companies and citizens, foreign companies listed on a U.S. stock exchange, or any person acting while in the United States, from corruptly paying or offering to pay, directly or indirectly, money or anything of value to a foreign official to obtain or retain business. The FCPA is jointly enforced by the Department of Justice (“DOJ”) and the Securities Exchange Commission (“SEC”). As I recently wrote, both agencies are enforcing the statute much more stringently than in the past, including through litigation strategies based on strict liability as a standard by which corporate officers can be judged for overseeing bribery schemes. The DOJ has collected a record $450 million and $400 million fines against two companies, and record numbers of individuals have been indicted on corruption-related charges since 2009, a number that skyrocketed in 2010.

HOW THE FCPA RELATES TO MERGERS & ACQUISITIONS

The DOJ’s and SEC’s more stringent enforcement of the FCPA has important implications for mergers and acquisitions. According to Rebekah Poston, an expert anti-corruption practitioner at the international law firm Squire Sanders & Dempsey, American companies who neglect to conduct thorough due diligence when acquiring foreign companies risk inheriting or creating FCPA violations. See Rebekah A. Poston, David A. Saltzman & Gregory W. Bates, FCPA Due Diligence in Acquisitions, 43 The Review of Securities and Commodities Regulation 13 (Jan. 20, 2010). Acquiring a foreign company requires the performance of a number of affirmative duties on the part of the acquirer. These include, but are not limited to:

1. Determining whether “private” entities may in fact be state-owned to an extent that could trigger FCPA liability for improper action (or inaction);

2. Using highly vetted consultants who are trained in FCPA compliance to deal with foreign officials. Neither the importance of such consultants nor the necessary amount of prior due diligence to vet them can be overstated;

3. Using carefully drafted contracts that protect your company from FCPA liability. Few contracts will ever be FCPA-proof, but Poston, Saltzman, and Bates offer invaluable suggestions, which are discussed below;

4. Maintaining detailed documentary evidence of your due diligence. This is critical if your company is investigated by U.S. officials;

5. Addressing FCPA accounting concerns by instituting carefully tailored internal controls.

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Weekly Update Mar 21: Palooza Party at Bernie’s, Business Networking Night @ Bitexco Financial Tower

Highlights

Mo-Tu, Mar 28-29 APBO Asia Pacific Business Outlook, Los Angeles
Tu, Mar 29 U.S. Currency and How to Detect Counterfeit – POSTPONED
We, Mar 30 Young Professionals Palooza Party @ Bernie’s Bar & Grill
Th, Mar 31 Business Networking Night @ Bitexco Financial Tower (rescheduled)
Tu, Apr 5 How to Meet U.S. Food & Drug Administration Import Requirements
Tu, Apr 5 Cloud Computing: Opportunities and Challenges in Vietnam
We, Apr 6 Mercer 2011 Vietnam Total Remuneration Survey Info Session
Sa, Apr 9 4th Annual Vietnam-U.S. Education Conference
Mo-Tu, Apr 11-12 Hung Kings’ Festival
We, Apr 20 Developing an Anti-Corruption Compliance Program
Th, Apr 21 A Strategic Approach to Employee Communications
Southern Key Economic Region: Ports, Industrial Parks, and Other Infrastructure
Asia Development Bank: “Skills Enhancement Project” Loan to Vietnam, 2010-2016

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Weekly Update Feb 21: U.S.-A/P Business Summit, Furniture & Home Accessories Fair, Cloud Computing

Highlights

Mo, Feb 28 U.S. Education Information & Career Orientation
We, Mar 2 Challenges in Vietnam’s Multi-cultural FDI Workplaces
Th-Fr, Mar 3-4 U.S.-Asia/Pacific Regional Business Summit, Singapore
Fr-Mo, Mar 11-14 Vietnam International Furniture & Home Accessories Fair
Mo-Tu, Mar 28-29 APBO Asia Pacific Business Outlook, Los Angeles
Tu, Apr 5 Cloud Computing: Opportunities and Challenges in Vietnam

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Candidates for the Board of Governors – Annual General Meeting 2010

The 2011 Board of Governors of AmCham Vietnam (Ho Chi Minh City) will have 16 Governors.

Eight governors will be elected from the below-listed candidates in on-line secure voting between Nov 29 and the Annual General Meeting on Dec 14, 2010 for the term January 2011 – December 2012.

There are eight other governors, elected at the Annual General Meeting in December 2009, whose two-year terms are January 2010 – December 2011.

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