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Vietnam’s Economy at the Crossroads: Reform Actions Needed

When: Th, Sep 12th 2012 5:30 pm to 8:30 pm

Where: Renaissance Riverside Hotel Saigon

What: AmCham Members Night with Dr. Le Dang Doanh

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Stabilization policies since February 2011 have slowed the roller coaster ride of credit growth, inflation, and the economy. Many AmCham companies seem to be doing well, but there still seems to be a malaise in the Vietnamese economy, and the Vietnamese domestic economy seems to be under stress.

Viet Nam’s Consumer Price Index (CPI) is expected to go up to 8.2% by the year-end (World Bank estimate), while GDP growth is only expected to hit 5.3% Viet Nam has now had the longest spell of slow growth since the start of doi moi (renewal).

Moreover, Viet Nam is the only large developing country in the East Asia and Pacific region, other than China, whose post-crisis growth has been lower than its pre-crisis level. The economies of Indonesia, Malaysia, Philippines and Thailand have all grown faster in the post-crisis period.

Vietnam’s economy is at the crossroads. Which way now? Read more

A toxic cocktail … European debt crisis, U.S. economic stagnation, a very critical situation in VN

When: Thu, Sep 6th 2012 5:30 pm to 8:30 pm
Where: New World Saigon Hotel, Ho Chi Minh City
What: AmCham Members Networking Night with Dr. Le Dang Doanh

Le Dang Doanh, VN Institute of Development StudiesDr. Le Dang Doanh, a prominent economist and a former top official at a government research organization, was recently quoted in the NY Times: “The problem in Vietnam is a very, very toxic cocktail from the European debt crisis, the stagnation in the U.S. economy plus a very critical situation in the domestic economy,” Mr. Doanh said. “It’s a very dangerous mixture.”

Stabilization policies since February 2011 have slowed the roller coaster ride of credit growth, inflation, and the economy. Many AmCham companies seem to be doing well, but there seems to be a malaise in the Vietnamese economy, with SOE reform lagging, non-performing bank loans, land disputes and conflicts, and the Vietnamese local economy seems to be under stress.

With FDI plunging (down 67% in the first seven months of 2012), and continuing lack of productivity growth, some observers talk about Vietnam getting caught in the “middle-income trap.” Indonesia, Malaysia, Bangladesh, Myanmar seem more attractive investment destinations than Vietnam, according to news reports and a survey by A.T. Kearney Consultants.

Foreign Policy magazine announced “the end of the Vietnamese miracle”. And the New York Times even reported In Vietnam, Fears of an Economic Meltdown.

Please click this link to Register Online for this important event.

After the unlearned lesson: Vinashin, VinaLines, and other SOEs’ inefficiencies, comes a dear price to pay: Nguyen Duc Kien, ACB and HCMC stock market. And the New York Times recently reported that In Vietnam, Message of Equality Is Challenged by Widening Wealth Gap (SOEs), which highlighted corruption/nepotism in State Owned Enterprises.

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Weekly Update Aug 27: Networking Night, Coastal Clean Up, Palooza Party

Highlights

Th, Aug 30 U.S.-ASEAN Business Summit • Digital Economy
Mo, Sep 3 Vietnam’s National Foundation Day (observed)
Th, Sep 6 Dr. Le Dang Doanh: Revitalizing the Vietnamese Miracle
Th, Sep 6 Food Industry Summit, Jakarta, Indonesia
Sa, Sep 8 AmCham Scholarship Information Session
Sa, Sep 15 2012 International Coastal Cleanup Day
In Vietnam, Growing Fears of an Economic Meltdown: NY Times
A dear price to pay: ACB and HCMC stock market
FDI into Vietnam continues to plunge in first seven months – down 67%
Viet Nam may run out of funds for pensions
Minimum Wage Adjustment Proposed for 2013
Why I’m leaving China … for India, Vietnam, and ASEAN
“South China Sea” • U.S. Department of State Press Release
Tu, Nov 6, U.S. General Elections Day • U.S. Voter Registration Web Sites

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Weekly Update Aug 20: How to Successfully Penetrate the US Market, Members Night

Highlights

We, Aug 22 Morning Briefing: How to Successfully Penetrate the US Market
Th, Aug 30 U.S.-ASEAN Business Summit • Digital Economy
Mo, Sep 3 Vietnam’s National Foundation Day (observed)
Th, Sep 6 Dr. Le Dang Doanh: Revitalizing the Vietnamese Miracle
Th, Sep 6 Food Industry Summit, Jakarta, Indonesia
Sa, Sep 8 AmCham Scholarship Information Session
Welcome to new AmCham companies • Jan ~ Aug 2012
FDI into Vietnam continues to plunge in first seven months – down 67%
Viet Nam may run out of funds for pensions
Apparel firms lower export outlook
Why I’m leaving China … for India, Vietnam, and ASEAN
“South China Sea” • U.S. Department of State Press Release
Tu, Nov 6, U.S. General Elections Day • U.S. Voter Registration Web Sites

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Business Networking: “Regaining Macroeconomic Stability: Outlook 2011” – Dr. Le Dang Doanh


Dr. Le Dang Doanh Re-gaining Macroeconomic Stability: Outlook for Vietnam in 2011

WHEN: Thu, May 12, from 5:30pm – 8:30pm
WHERE: New World Hotel Saigon

Please click this link to Register Online

Event Background

Le Dang Doanh, VN Institute of Development StudiesDr. Le Dang Doanh, one of Vietnam’s leading economists, will provide an overview of Vietnam’s current economic outlook and discuss the Government’s macroeconomic policies.

The Government had a consultation meeting with Dr. Le Dang Doanh and other leading Vietnamese economists on Feb 22, and following that meeting announced that it would focus on macroeconomic stability rather than growth.

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Weekly Update May 2: Re-Gaining Macroeconomic Stability, Members Night, Labour Code, Customs Dept

Highlights

Th, May 12 Dr. Le Dang Doanh: Re-gaining Macroeconomic Stability
Tu, May 17 Members Night and Meet the U.S. Consulate General
Fr, May 20, Workshop on Proposed Amendments for Revised Labour Code
We, May 25, Roundtable with Customs Department (SAVE THE DATE)
Fr-Su, May 27-29 AmCham Dalat Weekend
Sa, Jul 2, 2011 Independence Day Family Picnic and BBQ
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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Dr. Le Dang Doanh: “Re-gaining Macroeconomic Stability in Vietnam” May 12


When:Thu, May 12th 2011 5:30 pm to 8:30 pm
Where:New World Hotel Saigon, Ho Chi Minh City

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