Posts

Weekly Update Nov 26: VN Business Forum, Governors’ Ball, Annual General Meeting

Highlights

Sa, Dec 1 AmCham Scholarship Award Ceremony
Mo, Dec 3 Vietnam Business Forum
Fr, Dec 7 Roundtable • Direct Selling in Vietnam
Sa, Dec 8 AmCham Governors’ Ball • Christmas in San Francisco
Tu Dec 11 Annual General Meeting and Members’ Night
Sa, Dec 15 Application Deadline for VN and U.S. Professionals Fellowships
Sa, Feb 9 – Su, Feb 17 TET Lunar New Year Holidays • 9 days • Plan ahead …
Vietnam – U.S. Trade Status and Outlook, 2012 – 2015e
Highlights from the FCPA Resource Guide (Department of Justice • SEC)
CBP Global Entry Trusted Traveler • TSA Pre-Check Security Screening
Rampant corruption in Vietnam: #1 Concern of Vietnamese Citizens
SOEs going unchecked … ; no one is in charge …
Private sector minimum wage adjustment for 2013: Still no decision … ?
U.S. textile and apparel Imports down
New AmCham Companies – 2012

Read more

Weekly Update Nov 12: Global Antitrust Enforcement, Members Night, Thanksgiving Golf

Highlights

Highlights from the FCPA Resource Guide (Department of Justice • SEC)
CBP Global Entry Trusted Traveler • TSA Pre-Check Security Screening
Candidates for Election to the Board of Governors
Mo, Nov 12 Members Lunch: Global Antitrust Enforcement – More Authorities, Increased Coordination, Higher Stakes
Tu, Nov 13 Members Night and Meet the Candidates
Th, Nov 22 AmCham Thanksgiving Golf Tournament
Sa, Nov 24 Seeking volunteers to interview AmCham Scholarship Candidates
Mo, Dec 3 Vietnam Business Forum
Sa, Dec 8 AmCham Governors’ Ball • Christmas in San Francisco
Tu Dec 11 Annual General Meeting and Members’ Night
Sa, Dec 15 VN and U.S. Professionals Fellowships: Application Deadline
Sa-Fr, Feb 9-15 TET Lunar New Year Holidays • Plan ahead …
VCCI Chairman: Reduce taxes and have a stable wage roadmap
Private sector minimum wage Adjustment for 2013: 15%?
State sector minimum wage increase reduced to 9.5% percent, delayed two months
Vietnam Tech Exports Overtaking Garments; Eases Trade Gap
U.S. Visa Procedures for Business Travel to the USA
No signs of recovery in the real estate sector: the mood is toxic
New AmCham Companies – 2012
Party Secretary Remarks at Closing of Party Central Committee 6th Plenum

Read more

Weekly Update Aug 13: 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
ADB wants ODA disbursement accelerated
FDI in apparel production declines
FDI machine needs reworking
Viet Nam may run out of funds for pensions
Vietnam surpassed China as the leading producer of Nike footwear two years ago
Vietnam the next upcoming market: consumer spending to increase 42% by 2016
FDI into Vietnam continues its plunge during first seven months – down 67%
Industrial Parks See Falling Investment in first half of 2012: FDI down 59%
Tu, Nov 6, U.S. General Elections Day • U.S. Voter Registration Web Sites

Read more

Weekly Update Jul 30: CEO Roundtable, Legal Committee, Planning & Budgeting, Members Night

Highlights

Tu, Aug 7 Morning Briefing: Vietnam CEO Roundtable Talk (By Invitation)
Tu, Aug 7 Legal & VBF Liaison Committee
We, Aug 22 Morning Briefing: How to Successfully Penetrate the US Market
Mo, Sep 3 Vietnam’s National Foundation Day (observed)
Th, Sep 6 Food Industry Summit, Jakarta, Indonesia
Sa, Sep 8 AmCham Scholarship Information Session
Welcome to new AmCham companies • Jan ~ Jun 2012
Vietnam surpassed China as the leading producer of Nike footwear two years ago
Vietnam the next upcoming market: consumer spending to increase 42% by 2016
FDI into Vietnam continues its plunge during first seven months – down 67%
Industrial Parks See Falling Investment in first half of 2012: FDI down 59%
Tu, Nov 6, U.S. General Elections Day • U.S. Voter Registration Web Sites

Read more

Vietnam is the next upcoming market: consumer spending forecast to increase 42% 2012-2016

“Vietnam is the next upcoming market, and there’s fierce competition,” says Oru Mohiuddin of consumer researcher Euromonitor International.

The country’s 90 million people increasingly are eager to buy Western brands they deem superior to many local and regional products. And marketing executives say Vietnamese are more aspirational than consumers with comparable incomes in other developing nations. That’s one reason many global companies already established in China, Brazil, and India are now turning their attention to Vietnam as the next great emerging market.

Vietnam Ready to Grow - and Consume

Sales of diapers, home-and-personal-care products, and beauty goods by all manufacturers totaled $ 1.35 billion in the country last year, a 14 percent increase over 2010, according to Euromonitor. While that’s minuscule compared with P&G’s global sales last year of $ 82.6 billion, Vietnam is expected to be one of the fastest-growing emerging markets in coming years, Euromonitor says, with consumer spending forecast to jump 42 percent from 2012 to 2016.

“Vietnam is a young culture, very interested in trying new things, so you don’t have to be the 100-year incumbent to be able to win,” says Deb Henretta, group president of P&G’s Asia business. Vietnam and other Asian countries, including potential markets such as Myanmar, are “the growth engines for the company.”

Read more

Small U.S. Manufacturers Give Up on ‘Made in China’

As costs in China rise and owners look closely at the hassles of using factories 12,000 miles and 12 time zones away, many small companies have decided manufacturing overseas isn’t worth the trouble.

For one small company, the decision was simple. Neither of the founders has ever been to China, which made communicating with manufacturers difficult. Components that were shipped from the U.S. sometimes got stuck in customs for weeks. And one of the founders had to spend hours on the phone to explain tweaks in the product. “If we have an issue in manufacturing, in America we can walk down to the plant floor,” he says. “We can’t do that in China.” He says manufacturing in the U.S. is probably 2 percent to 5 percent cheaper once he takes into account the time and trouble of outsourcing production overseas.

An April poll of 259 U.S. contract manufacturers—which make goods for other companies—showed 40 percent of respondents benefited this year from work previously done abroad. And nearly 80 percent were optimistic about 2012 sales and profits, according to the survey by MFG.com, a website that helps companies find manufacturers. “A decade ago you just went to China. You didn’t even look locally,” says Ted Fogliani, chief executive officer of Outsource Manufacturing, the San Diego company working with LightSaver. “Now people are trying to come back. Everyone knows they’re miserable.”

Read more

HSBC Sounds the Retreat from Vietnamese Finance Group

The London based Hong Kong and Shanghai Banking Corporation (HSBC) reportedly plans to sell the shares it is holding of Vietnamese Bao Viet, a big insurance group, in an effort to gather its strength to deal with the financial problems and the possible heavy penalty in a money laundering lawsuit.

The board of directors of HSBC on July 17 shook the international financial market by admitting before the US Senate that the banking group allowed Mexican drug cartels to launder billions of dollars through its US operations.

Reuters has quoted its sources as reporting that HSBC may face a fine of up to one billion dollars for this. It also quoted Mike Trippitt, an analyst of Oriel securities firm as saying that one billion dollars is equal to five percent of the expected pretax profit of HSBC in 2012, and that the penalty would seriously affect the financial situation of the banking group.

Read more

Vietnam and the International Monetary Fund (Jul 6, 2012)

The last Article IV Executive Board Consultation was on May 25, 2012. Listed below are items related to Vietnam, in reverse chronological order (you can also view items by category).

Public Information Notices (PINs) form part of the IMF’s efforts to promote transparency of the IMF’s views and analysis of economic developments and policies. With the consent of the country (or countries) concerned, PINs are issued after Executive Board discussions of Article IV consultations with member countries, of its surveillance of developments at the regional level, of post-program monitoring, and of ex post assessments of member countries with longer-term program engagements. PINs are also issued after Executive Board discussions of general policy matters, unless otherwise decided by the Executive Board in a particular case. The staff report (use the free Adobe Acrobat Reader to view this pdf file) for the 2012 Article IV Consultation with Vietnam is also available.


July 06, 2012—New Public Information Notice: IMF Executive Board Concludes 2012 Article IV Consultation with Vietnam
. Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.

Read more

Vietnam’s president backs new system to fight corruption

Vietnamese President Truong Tan Sang has said placing the anti-corruption committee under the Party as has been decided is the best way to end corruption in the country.

At a recent meeting the Party decided to restructure the system by placing the Central Guidance Board for Anti-corruption under the Party general secretary. Hitherto, it was under the Prime Minister.

“The previous board made several gains in preventing waste and corruption, but not to the extent expected by the people,” Sang told Tuoi Tre newspaper in an interview.

Read more

Banks in Vietnam had weaker 2011 results, face rising debts

Jun 20, 2012. Banks in Vietnam had weaker financial performance in 2011 than the year before and their bad debts recently have been “rising continuously,” the central bank said in a report.

The report said that overall profit growth of banks slowed in 2011 to 15.1 percent, but it didn’t give any comparable figure for 2010.

The return on equity (ROE) of Vietnam’s banking system was 11.86 percent last year compared with 14.56 percent in 2010, and the 2011 return on assets (ROA) dropped to 1.09 percent from 1.29 percent the previous year, according to the report said.

Read more