Legal & VBF Liaison Committee Meeting, Dec 11, 2012

When: Tue, Dec 11th, 2012 5;00 pm to 6:00 pm
Where: Baker & McKenzie offices (linked by Video)
HCMC: Saigon Tower, 12F, 29 Le Duan Boulevard, District 1
Hanoi: Indochina Plaza Hotel, 10F, 241 Xuan Thuy Street, Cau Giay District

Read more

Assistant Attorney Lanny Breuer Speaks on the U.S. Foreign Corrupt Practices Act

Washington, D.C. ~ Tuesday, November 8, 2011

Lanny Breuer, Assistant Attorney General, DOJThank you, Homer, for that kind introduction. This is the third year in a row that I have had the privilege of addressing this conference. It is an honor each time, and I am delighted to be here with you again today.

In at least one respect, this past year has been no different from the two years that preceded it: The Justice Department has been vigorously enforcing the Foreign Corrupt Practices Act and achieving strong results. As we speak, in federal court in Washington, D.C., we are in the middle of our fourth FCPA trial of the year – more than in any prior year in the history of the Act. And just two weeks ago, we secured the longest prison sentence – 15 years – ever imposed in an FCPA case .

In other respects, however, the world has witnessed historic changes in the last year that highlight the importance of our mission to fight corruption at home and abroad, including by enforcing the FCPA. Having addressed you on two prior occasions, I know that you are all well aware of the Justice Department’s enforcement record. And during this conference, you will be hearing many expert analyses of our recent enforcement trends. So, what I want to do with you today, rather than tell you about our cases, is to place our FCPA work in context and share with you my perspective on recent efforts to amend the Act.

Read more

Tax management law raises concerns

The draft law requires enterprises to pay import and export taxes before clearance, which is far different from the current law with a 275-day tax payment grace period for enterprises.

The draft law aims to prevent enterprises from abusing the tax payment grace to delay tax payments. However, many deputies are afraid that the rule will impact the nation’s export-encouraging policy and challenge enterprises in the import and export sector.

Deputy Than Duc Nam from Danang City said that the regulation would bring about more difficulties to local firms who are already suffering great hardship.

Read more

How the Sleepy FCPA Became a Hulk and Why It’s Staying that Way

Few multinational companies can afford to ignore the 1977 law, which bars foreign bribery and requires companies to keep accurate books and records. U.S. companies, companies that trade on U.S. stock exchanges, and even foreign companies that further corrupt schemes in the U.S. fall under the FCPA’s prodigious umbrella. Foreign subsidiaries? Yep, those too, if U.S. authorities can show the conduct in question was “authorized, directed, or controlled” by the parent company.

FCPA enforcement shows no signs of cooling. The average FCPA penalty, about $ 25 million in most years, isn’t eye-popping, but companies often spend millions more on internal investigations.

The post-Watergate law has become big business for the lawyers who delve into the operations of companies in response to an investigation by the Justice Department and the Securities and Exchange Commission, or to avoid one. The result is a mini-industry of investigators and white-collar criminal-law practices. We highlight three companies: Avon Products Inc., Weatherford International Ltd. and Wal-Mart Stores Inc., that have spend about a half a billion dollars combined on internal investigations.

Read more

With no tax payment grace period on imports for rexport, companies anticipate hard times

Sep 24, 2012. 800 million dollars was the figure cited by the Vietnam Textile and Apparel Association (Vitas) to show the unreasonable articles of the draft law on tax management, which was put into discussion at the National Assembly’s Standing Committee’s working session on August 15.

MOF, which is compiling the draft of the amended law on tax management, is going to impose a tighter management over the tax payment by enterprises.

The ministry plans to amend the Article No. 42 of the current law, requesting enterprises to make tax payment before the customs clearance time. The regulation would be applied to the enterprises that do the outsourcing for foreign partners (import materials, make products domestically for export), and the enterprises which import products for re-export later.

Read more

Weekly Update Sep 24: Palooza, Members Night, 2012 Compensation Trends, 2012 Consumer Trends


We, Sep 26 Dialogue Meetings on Enterprise Law, Investment Law
We, Sep 26 AmCham Palooza Party
AmCham Scholarship Program 2012
Th-Fr, Oct 4-5 Singapore Management University Executive MBA Info Sessions
Th, Oct 4 Members Night and Meet the U.S. Consulate General
We, Oct 10: Morning Briefing: Vietnam Compensation Trends 2012
Th, Oct 11 Members Lunch: Vietnam Consumer Trends 2012
Th-Su, Oct 24-28 Hi-Tech Agro and Food Industry Fair HCM City
New U.S. Consumer Product Testing Rules: Exporters Be Aware
Secure Cloud Computing and IT/Software Asset Management
Software, Labs and BPO in Vietnam • Who, What, Where
Minimum wage adjustment (increase) effective in 2013 spooks many enterprises
China’s apparel exports down, as wages keep rising
Inflation feared to return later in 2012
Tu, Nov 6, U.S. General Elections Day • U.S. Voter Registration Web Sites
Nov 11-17 Infrastructure Trade Mission to Indonesia and Vietnam
Sa, Dec 8 AmCham’s Governors’ Ball • SAVE THE DATE
Tu Dec 11 Annual General Meeting and Members’ Networking Night

Read more

“Employent Bill” will require employers to introduce training schemes

HCM CITY, Aug 4, 2012. The Employment Bill will usher in several changes to working regulations, a conference held to gather opinions about the proposed law heard in HCM City yesterday.

The law, expected to be passed by the National Assembly at the end of this year, will require employers to have training programmes to develop their employees’ skills, a provision the 2012 Labour Law does not have.

It would address emerging issues in employment services, according to the Ministry of Labour, Invalids and Social Affairs.
It will also regulate furnishing of information about the labour market and simplify recruitment and issue of work permits to foreign workers.

Read more

U.S. weighs retail sweep after Wal-Mart bribery scandal

WASHINGTON (Reuters) – U.S. authorities are considering launching a wide-ranging examination of the retail industry for violations of an anti-foreign bribery law, after Wal-Mart and other retailers have come forth with their own potential offenses, people familiar with the matter said.

Retailers have been reviewing their international operations in light of a bribery scandal at Wal-Mart Stores Inc’s operations in Mexico that is the subject of investigations by the Justice Department and the Securities and Exchange Commission.

Both agencies, for example, sent letters to a handful of pharmaceutical companies in 2010 asking for information about their businesses in countries around the world.

Read more

VIETNAM LABOR LAW 2012: Practical Issues & Problem Solving for Enterprises, Jun 7

When:7th June, 2012
Where: Legend Hotel Saigon, 2A-4A Ton Duc Thang Street, Dist.1, HCMC

Read more

US applies new food safety rules

The US Food and Drugs Administration (FDA) will officially apply the new FDA Food Safety Modernisation Act (FSMA) from now to early 2016. A Viet Nam News Agency reporter talked with On Le Thi Bich, head of the export-import department of the Vina Commodities Co, about how the new rules will affect local firms.

As an experienced exporter to the US, could you tell me about the most important parts of the new FSMA and what businesses exporting products to this market should look out for?

Labels recorded with unadequate information are one of the main causes for products on their way into the US market being held up at the port. The new provisions in the FSMA require more specific details, especially in the labelling method. In addition, some general requirements must be met, such as product name, weight, ingredients, and the new law also has different rules for various types of products.

To ensure that Vietnamese food, drugs and beverages are eligible to be imported into the US, the importers are required to set up programmes to confirm the safety of all shipments into the US with safety certificates for each shipment.

Read more