Thanksgiving is just around the corner. This year, Thanksgiving falls on the 26th of November. How are you going to celebrate this traditional holiday? Are you still wondering about where to dine? What delivery to take? Just set your mind free and click below links for menus and special offers. You can dine in at beautiful eateries and restaurants or enjoy delicious food and drinks right in the comfort of your home, with takeout or delivery. Support our AmCham Discount Partners, so try each and every restaurant if you can! Bon Appétit and Happy Thanksgiving!
The American Chamber of Commerce in Vietnam-Ho Chi Minh City (AmCham Vietnam) is looking to expand its Executive Team in HCMC to include an engaging and talented person as its Advocacy & Communications Manager. This newly created role reflects the growing membership and desired investment to make AmCham Vietnam the most strategic, influential, and dynamic business association in Vietnam that drives innovation and helps its member companies succeed in Vietnam. Check out our Job Description below.
Please send your CV and relevant questions to Recruitment team at [email protected]. The deadline for application is by COB on August 24, 2020.
On March 25, the EXIM Board of Directors unanimously approved four new, time-limited emergency measures. The measures will temporarily expand the types of financing EXIM can provide as part of the U.S. government’s efforts to address and mitigate the economic crisis in the coming months. The emergency measures will be in place for one year from May 1, 2020, although a few implementation details are still being worked out. EXIM currently has about $80 billion available under its $135 billion overall financing cap that could be deployed for these emergency measures as well as regular business. The EXIM Emergency Measures include:
Bridge Loan Product:
This is a new EXIM financial product, which can be structured as either a direct loan or a loan guarantee. This product is available to foreign borrowers for an initial period of one year and could be extended depending on economic conditions and demand. The financing schedule gives borrowers the option to extend financing through several periods of the transaction’s full repayment term. These periods will be determined based on the export, its total repayment, and the availability of private financing. EXIM will incrementally collect its exposure fee as the borrower elects to extend the financing period. The fee structure incentivizes borrowers to find private sector financing prior to extending their EXIM financing. EXIM will encourage borrowers in its informational products to refinance in commercial markets at the earliest opportunity, assuming market conditions provide this opportunity. Please see the EXIM factsheet on changes to this product: www.exim.gov/coronavirus-response/fact-sheet-exim-establishes-bridge-financing-program.
Supply Chain Financing Guarantee Program:
EXIM currently provides a 90 percent guarantee to a participating lender that purchases accounts receivable from suppliers of an approved exporter. The change temporarily waives the previous requirement that transactions include small business involvement in 50 percent of the supply chain and allows EXIM to finance the distribution of U.S. products through foreign affiliates, which in turn sell the products to foreign buyers. EXIM’s board is also considering increasing its guarantee from 90 to 95 percent, eliminating almost the entirety of risk for the lender, although a final policy has yet to be determined. This product will provide U.S. businesses in the supply chain the immediate liquidity they need, especially lower investment grade companies. The changes are designed to incentivize lenders to underwrite weaker credits, which are particularly impacted by the crisis when all credits are adversely impacted. Please see the EXIM factsheet on changes to this product: www.exim.gov/coronavirus-response/fact-sheet-background-on-supply-chain-financing-guarantee-program
Working Capital Guarantee Program:
This product facilitates loans to U.S. businesses that export over the term of the loan and is an asset-based lending program under which financing is determined by the borrower’s export-related inventory and accounts receivable. This product previously covered 90 percent of the principal and accrued interest of the loan. EXIM will now temporarily expand its financing beyond only export-related inventory to all of the borrower’s inventory that could potentially be exported, which will increase the eligible collateral for an EXIM guarantee, and thereby, the amount of working capital EXIM can support. As with the modified supply chain product, EXIM’s board is considering increasing its guarantee from 90 to 95 percent, although a final policy has yet to be determined. Please see the EXIM factsheet on changes to this product: www.exim.gov/coronavirus-response/fact-sheet-background-on-working-capital-guarantee-program
Pre-Delivery / Pre-Export Financing Program:
EXIM currently allows periodic disbursements for pre-export payments (through direct loans or loan guarantees) to U.S. manufacturers during the manufacturing process when EXIM is providing the medium- or long-term financing associated with the export. This product is most often used to facilitate exports of long-lead time manufactured products, such as satellites, large turbines, and other capital goods requiring extensive customization. The major change under the new product will allow EXIM to provide pre-delivery financing even when it is not providing the long-term financing for a one-year period. This benefit will now be available to certain industries, such as aviation and the locomotive industries, where commercial lenders may no longer be willing to finance pre-export payments. This could be extended depending on demand and economic conditions beyond the initial one-year program period. Please see the EXIM factsheet on changes to this product: www.exim.gov/coronavirus-response/fact-sheet-exim-temporarily-expands-pre-export-payment-program
On behalf of the VBF, we would like to solicit your input on how to improve the business environment in Vietnam.
These are anxious times for our workforce, captains of industry, and country leaders. The Vietnam Business Forum is one of our most effective channels for advocacy matters, providing as it does a direct and constructive dialogue between the business community and the Government.
Vietnam has managed commendably thus far in educating and protecting the population at large. In addressing the beleaguered economy, the Prime Minister issued Directive 11 on measures to help businesses affected by the COVID-19 pandemic. This include tax incentives, delaying payment of land-use fees, ensuring supply of raw materials for manufacturers, etc. The State Bank of Vietnam (SBV) has already cut interest rates from February 2020 and has requested commercial banks to lower interest rates.
To manage current challenges, and to help the business eco-system and country leaders to turn the corner (in matters that can be controlled), what can VBF members do? We can identify the challenges we face and to discuss solutions. This could be:
- In licensing or other procedures that are unnecessarily onerous and time consuming;
- In statutory fees / payments / taxes that are overwhelming for an anemic economy;
- In business and telecommunication tools and infrastructure that are under capacity; and
- Workforce and employment issues and uncertainty.
- Continue to advance e-government and smart cities initiatives;
- To advance the service sector with use of digital tools;
- Attracting and enabling higher value-added manufacturing; and
- Progressing multi-lateral relationships and trade and investment agreements.
To help achieve these goals, please give us your feedback, concerns and proposals so that the VBF, with the Investment & Trade Working Group taking the lead in this matter, can progress this discussion with the appropriate authorities.
We also wish to encourage the Government to keep furthering its initiatives around:
- e-Government (to speed up administrative processes and enhance efficiency):
- Smart cities (to manage and serve city and population agendas, in particular in healthcare, education and the environment);
- Attracting and enabling higher value-added manufacturing;
- Digital economy and the many services and tools that can be delivered online and on mobile;
- Multilateral relationships and trade and investment agreements (which enhances business and investment opportunities, and opens channels for meaningful dialogue and action in times of global crisis).
Therefore, please use the template attached to let us know if you have concerns, ideas and proposals in furthering these and related initiatives.
Even as we hunker down to weather this tough spell, this is also the time to identify, assess, and progress the next steps that would enable our business and Vietnam to be the first out of the gates when the dust eventually settles.
Member’s feedback can be provided back to the VBF Secretariat at [email protected] (copy [email protected]) by filling and returning to us the enclosed Template by the extended deadline of COB Friday, 24 April 2020.
Thank you for your cooperation and stay safe!
Investment & Trade Working Group Co-Chairman
AmCham Representative to the Vietnam Business Forum Members Consortium
- Comprehensive Framework of Policy Considerations and Operational Questions
- Virtual Event Series to Explore How to Reopen the Economy Safely, Successfully, and Sustainably
- Chamber Soliciting Input from Diverse Sources: Big, Midsize, and Small Businesses as well as its Network of Local, State and International Chambers and Associations
April 13, 2020
WASHINGTON, D.C. — The U.S. Chamber of Commerce today announced the“Path Forward” program, an initiative to address how Americans and businesses can return to work safely, successfully, and sustainably.
The program includes a comprehensive framework of considerations, an event series that will feature diverse viewpoints from the public and private sectors, and recommendations on the practices and policies needed to begin a phased process to bring the full American economy back to work.
The Chamber, through its membership of small, medium, and large companies, as well as its network of state, local, and international chambers and associations, has an unmatched perspective encompassing all sectors of the economy and all corners of our nation. This diversity of viewpoints will contribute to the ongoing national conversation and ultimate recommendations for the Path Forward program.
Since the outbreak of the coronavirus, the Chamber has vigorously advocated for fast action on legislation to provide employers, employees, and families with much-needed financial assistance, including the successful passage of the CARES Act. The Chamber also has hosted more than 200 virtual sessions with tens of thousands of small businesses, as well as big companies and their small business suppliers and customers, to hear first-hand about the impact of the virus and provide guidance on what aid is available and how to access it.
“This pandemic is upending every way of life, including how businesses operate and care for employees and communities. As we adjust to this new reality, we must understand that many laws and regulations were designed for a different time and place, and today they could significantly hamper– or even contradict– recovery efforts,” U.S. Chamber President Suzanne Clark said. “How America reopens will be the result of unprecedented coordination between business and government, and the planning must begin now. We need new processes and rules that reflect the realities of the pandemic.”
In a letter sent to members, national associations, and state and local chambers across the country today, the U.S. Chamber of Commerce outlined the following key considerations:
- Essential services and resources necessary for returning to work: general health screening, COVID-19 testing, personal protective equipment, childcare, and transportation.
- Resolution to regulatory and legal liability issues: health privacy, discrimination claims, safe workplace requirements, support for independent contractors, employment practices, exposure liability, product liability, medical liability, securities litigation, customer communications, and the False Claims Act.
- Support for businesses and individuals during a phased reopening: businesses dependent on high-density gatherings or travel, and individuals delayed in returning to work.
Following the release of the letter, the Chamber has begun the process of collecting feedback from local and state Chambers and member companies across the country.
“How our nation’s public and private sectors manage this transition will determine how quickly we can stage an economic comeback and help families overcome financial hardship,” Clark said. “We need a roadmap to reinvigorate our economy and a renewed sense of public safety and confidence.”
Path Forward Virtual Event Series
Additionally, the U.S. Chamber of Commerce Foundation today launched a new online series called Path Forward to supplement and inform the Chamber’s work. Each episode of Path Forward will feature experts sharing their perspectives on the complex issues involved in a responsible reopening strategy. The first program will focus on the state of the pandemic, potential scenarios for reopening, and lessons America can learn from businesses in other parts of the world.
The series launches Monday, April 13 at 3:00 p.m. ET with Dr. William Hanage, Associate Professor of Epidemiology at the Harvard T.H. Chan School of Public Health. Register here: https://cvent.me/ebg2E0.
Future programs, which will occur on Mondays and Thursdays from 3:00 p.m. to 4:00 p.m. EST, for the next several weeks will cover barriers to reopening, such as childcare and transit; complex questions about immunity and liability; and ways employers can incorporate screening, social-distancing, and other novel approaches into the workplace.
Since the onset of the pandemic, the U.S. Chamber has tried to help mitigate the impact of the coronavirus by equipping businesses with tools, resources, and information to help them navigate the many challenges of the pandemic in real time. The Chamber’s resources have been downloaded two million times, and tens of thousands of small businesses and nonprofits have joined online townhall events dedicated to helping them survive this unprecedented health and economic crisis.
To learn more about the Chamber’s efforts in response to the coronavirus pandemic, please visit www.uschamber.com.
About the U.S. Chamber of Commerce
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.
About the U.S. Chamber of Commerce Foundation
The U.S. Chamber of Commerce Foundation is dedicated to strengthening America’s long-term competitiveness. We educate the public on the conditions necessary for businesses and communities to thrive, how business positively impacts communities, and emerging issues and creative solutions that will shape the future.
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U.S. Chamber Press Contact
Contact: U.S. Chamber Press
Recommended precautions for most healthy individuals are careful hand washing, avoiding touching your face, disinfecting frequently-touched hard surfaces, and practicing social distancing, including avoiding large gatherings.