Weekly Update Apr 14: Phan Thiet Family Weekend & Golf Outing; Members Night

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Upcoming Events and Activities (next two weeks)

Plan ahead. Click here to see all upcoming Events and Committee Meetings

Mo, Apr 14 Navigos Group Vietnam Salary Survey 2008: Be in the Driver’s Seat to INFLUENCE SALARY TRENDS in the market Following the successful run of our 2007 Salary Survey, Navigos Group is now gearing up for the Vietnam Salary Survey 2008, which opens its doors for participants starting on April 14, 2008. We have amended our schedule further this year to coincide with your needs better as you have told us. Put your company in the position to directly shape market trends, especially in your industry.

Th-Su, May 1-4 Phan Thiet Family Weekend and Golf Outing Plan a fun weekend at the Novotel Coralia and Ocean Dunes Golf Club. Laze away in a lounge chair by the pool or ocean, or there are lots of available activities, including a two-day Golf Outing, Welcome Cocktail Party, Gala Sea-Side Dinner, accompanied by fine wine, under a starry sky. Lots of activities for kids, too. Click the link for information and to download a registration form.

Th, May 15 Members Night. Introductions and brief from the U.S. Consulate General, updates on key issues. Cocktail reception with networking opportunities with over 150 members. Spouses and guests are we!come and encouraged to attend!

Tu-Su, Jun 3-8 AmCham Vietnam Mission to Shanghai and Beijing: Save the Dates A survey by AmCham Shanghai and Booz Allen Hamilton found that Fifty-four per cent of respondents thought China’s competitiveness is waning. 63 per cent plan to capture lower labor costs by shifting to Vietnam. We are cooperating with AmCham in Shanghai and Beijing on this mission. Additional information and participation registration form to be provided soon.

Sa, 28 June 2008 Independence Day Family Picnic and BBQ Join us for an old-fashioned celebration with scrumptuous food, fun and games for children and parents, great door prizes, and good music at AmCham’s Annual Independence Day Celebration and Family Picnic. Limited to 600 AmCham Members and their Family and Guests.

VCCI – AmCham Business Mentoring Program The Vietnam Chamber of Commerce and Industry, supported by AmCham, EuroCham, and the 2030 Business Club, is cooperating on a Business Mentoring Program to help young Vietnamese entrepreneurs learn the best experiences from successful entrepreneurs and international managers. Click the link for information and to volunteer to participate.

Sa, Dec 6: AmCham Governors Ball: SAVE THE DATE A formal event held in the festive style of the season, to raise funds for community support programs funded by and through the AmCham-United Way partnership.

All upcoming events …

New member and associate companies. Click on the link to learn more about the latest companies to join AmCham.

News and Issues Updates

Click this link to read the below and more News Highlights: Business, Trade and Investment in Vietnam and Asia

Vietnam’s Data Networking Revenue to Exceed $ 740 Million by 2010 Up from $ 150 million in 2007. Core drivers include: WTO accession, bandwidth enhancement underway (including new submarine cable to connect VN directly with the U.S.), foreign operators, telecom provider ACASIA, next-generation technology.

HP – Foxconn computer assembly plant in Vietnam HP will be in charge of system design while Foxconn is responsible for production and technology transfer.

MPI Minister holds Vietnam investment forum in NY City, Vietnam News Viet Nam wants foreign investment in the manufacturing, hi-tech, material production, energy, infrastructure, property development and financial and banking industries.

Limit on foreign workers lifted Firms can now hire an unlimited number of foreigners. In late March, Decree 34/2008/ND-CP replaced previous regulations and removed the 3 per cent cap on foreigners in enterprises.

National Assembly to vote on foreigners home rights The bill is expected to go to the National Assembly (NA) for approval at its May 6 session. The number of foreign nationals living and working in Viet Nam (80,000) highlighted the need to allow foreigners to buy and own homes in Vietnam.

Vietnam faces severe electricity shortage In Jan-Mar, the electricity situation experienced many unfavorable changes. The Ca Mau thermo-electric plant supplied only 42 per cent of its designed capacity. The expanded Uong Bi power plant operated improperly, and other plants faced problems.

HCM City urges strict energy-saving, backed by fines The Industry Department’s Energy Division had required 1,000 major companies to report the amount of power consumption. The city would set out energy consumption criteria for each sector, and would fine companies that did not implement energy saving.

Inflation tests Vietnam’s growth In particular, discontent over increased inflation is on the rise in the industrial sector, the backbone of Vietnam’s export-driven economy. That’s been witnessed in the growing number of industrial disputes and strikes especially in foreign invested factories.

25,000 strike against Taiwanese shoe-making company The protest represents the latest in a surge of factory labor strikes in Vietnam, the majority of which have targeted the same foreign-invested companies the government has endeavored to attract to support its export-oriented reform drive.

Egyptians can’t afford daily bread Rocketing global commodity prices and failing domestic supplies have made bread unaffordable for 20 percent of 76 million inhabitants, many of whom live on less than $ 2 per day.

IMF warns of food price inflation High food prices in some low-income countries would mean that hundreds of thousands could starve. Also, many governments will see what they have done in recent years totally destroyed.

PM to Ministry of Finance – tax changes must not affect prices The Prime Minister also asked to curtail preferential taxes on corporate incomes, which probably do not encourage investors. The ministry was told to present two amended drafts to the National Assembly at the third session of the 12th Congress in May.

Click this link to read more News Highlights: Business, Trade and Investment in Vietnam and Asia

Event Presentations, Downloads, and PHOTO ALBUMS

Event Presentations and PHOTO ALBUMS Did you miss an AmCham event? Were you there but wanted to have a copy of the presentation? Didn’t get the business card of the person you were talking with? Now you can download the presentations by clicking on the above link. Also, you can see a list of people that attended the event, with links to their company contact information.

Presentation: Grade A office rents in HCMC to reach US$ 100/sqm. Can you afford it? Rising office rents affect us all, whether your company is in a shop house or a Grade A office tower. Savills Vietnam believes Grade A rents will top US$ 100 per sqm in the next 2 years. Have you planned for this in your budgets? Couldn’t attend the lunch on Th, Feb 28? Click the link to download the presentation and find out where the market is going and decide how it affects your business.

Online Membership Directory Looking for information on AmCham members? Click here to browse the Online Membership Directory for information about and contact points for our 400 member and associate companies, and about 800 representatives. Also with links to their company web sites for even more information about American and international businesses in Ho Chi Minh City.

Benefits and Services Review AmCham benefits and services and learn how you can benefit from Networking Online, with about 100,000 visitors and 250,000 page-views per month to www.amchamvietnam.com.

Your announcement in AmCham’s Weekly Update email Early each week, AmCham’s Weekly Update email goes out to nearly 800 representatives of over 400 AmCham member and associate companies, plus thousands of subscribers in Vietnam, Singapore, Japan, and the USA. We welcome event announcements that are of interest to our business readers.

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Keep up-to-date about U.S.-Vietnam trade and investment with Weekly Updates.