Weekly Update Apr 25: Health Challenges, Palooza Party, Re-Gaining Macroeconomic Stability


Tu, Apr 26 Health Challenges and Risks in Vietnam
We, Apr 27 Young Professionals Palooza Party at Orientica Restaurant
Th, May 12 Dr. Le Dang Doanh: Re-gaining Macroeconomic Stability
Tu, May 17 Members Night and Meet the U.S. Consulate General
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

Asian Tigers exceptional RelocASIAN

Events, Meetings, Activities, and Special Offers for Members

Until Aug 31 “Spring and Summer” Offer at The Six Senses Con Dao Enjoy your stay at Vietnam’s newest International luxury resort at special promotional rates for an Ocean Front Villa or 3-Bedroom Villa. Special offer for Vietnam Residents.

Air France – From USD 1075 to United States and Canada! An USD 100 special discount is offered on www.airfrance.com.vn from 25 April to 22 May when traveling to a selection of destinations to the East Coast of United States and Canada on before 31 October.

Tu, Apr 26 Health Challenges and Risks in Vietnam Dr. Mark Siefring of International SOS will focus on current health challenges and risks faced by people living in Vietnam. He will discuss how to avoid injury, then move on to vaccine-preventable illnesses.

YKVN has been named Vietnam’s National Law Firm of the Year for 2011 by International Finance Law Review (IFLR) This is the fifth time, and third year in succession, that YKVN has been awarded this distinction.

We, Apr 27 Young Professionals Palooza Party at the Orientica Restaurant Monthly networking event for young professionals at the coolest and latest nightspots in Ho Chi Minh City. A platform to develop new friendships, and information exchange.

Sa & Su, Apr 30 & May 1 Liberation & Labour Day at Legend Hotel Saigon Celebrate these two consecutive big holidays in Vietnam with Saigon’s most spectacular holiday buffet.

Mo, May 2 Liberation Day (actually, Sa, Apr 30, but observed on Mo, May 2)

Tu, May 3 International Labour Day (actually Su, May 1, but observed on Tu, May 3)

Tu-Fr, May 3-5 OPIC Southeast Asia International Investment Conference in Jakarta, Indonesia. Seeking to invest or expand in a dynamic Southeast Asianeconomy? Need partners based in the U.S. or Southeast Asia?

Th, May 12 Dr. Le Dang Doanh: Re-gaining Macroeconomic Stability – Outlook for Vietnam 2011 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. What policies can we expect? And how will this affect your business, and trade and investment between Vietnam and the U.S.?

Tu, May 17 Members Night and Meet the U.S. Consulate General AmCham invites members and guests to attend a Members Night Networking Cocktail Reception. Members’ spouses and guests are not only invited but also encouraged to attend with you.

May 12 & 18 (HCMC), May 25 (Hanoi) Leadership Charisma Executive Briefing We will explore how new research with more than 40,000 leaders shows precisely what successful charismatic leaders do to develop their personal and commercial charisma.

Fr-Su, May 27-29 AmCham Dalat Weekend Join other AmCham members and guests in a networking weekend, with Chairman’s Roundtable discussion of key issues in Vietnam-U.S. trade and investment and outlook for 2011. Three days/two nights including room with American breakfast, welcome wine & cheese reception, morning Roundtable and evening cocktails & Gala Dinner, plus golf and other activities.

Sa, Jul 2, 2011 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 700 AmCham Members and their Family and Guests.

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

Stay informed about Vietnam-U.S. trade and investment with Weekly Updates (Past Issues).

News and Issues Updates

Sigma Designs Enters into Joint Venture with Vietnam Multimedia Corporation Thinh Tran, CEO of Milpitas, California-headquartered Sigma Designs said, “The combination of our experience in the media processor and connected home and VTC’s experience in digital television will help us meet Vietnam’s increasing demand for high-definition set-top boxes and smart energy solutions.”

Moody’s: Negative Outlook on Vietnam Reflects Uncertainty “It remains unclear whether the tightening measures after the Vietnamese new year (Resolution 11) represent a permanent departure from the previous policy framework, or whether this is merely an extended episode of “stop-and-go” policy making that has exacerbated the imbalances in the economy,” Moody’s said.

Prof. David Dapice: How long Resolution 11 will be kept in place is the question Land in Hanoi going for US$ 60,000 a square meter, higher than New York or London. It is a safe bet that things are getting overheated. Recent growth has been driven by SOE (State-owned enterprise) and real estate investment, both of which rely on rapid credit growth.

Many state-owned enterprises report big losses, causing big worries. Many reasons have been cited explaining the losses, including bad management and unreasonable business strategy. However, experts have pointed out that the losses not only show the incapability of managers, but also the lack of transparency in using the state’s money.

HCMC office rents slide as supply climbs The vacancy rate in HCMC in the first quarter was 20.2 percent, compared to 10.5 percent in Bangkok and just 3.3 percent in Singapore. Occupancy for Grade A offices in particular was even lower, at approximately 63 percent, due to the large amount of space available at the new Bitexco Financial Tower and Vincom Center in the city downtown.

FIEs’ rising strikes prompt union review Since 1995, Vietnam saw more than 3,840 strikes, with 424 taking place in 2010 and over 220 in 2011’s first three months. Over 80 per cent of the strikes were at FIEs.

Could the Hospitality Industry be the Latest to Fall Under the FCPA Microscope? after the pharmaceutical, defense, logistics and financial services industries.

Federal Judge Rules That Officers of Foreign State-Owned Utilities Are Foreign Officials The defendants’ motion to dismiss argued that extending the FCPA to employees of state-owned enterprises would render the Act untenably broad. The U.S. Government responded that the broader definition is needed to allow the U.S. to comply with the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, of which the U.S. is a participating member. The judge’s decision was based on the nature of CFE and the “essential governmental function” that CFE performs.

International Organization backs Vietnam’s proposal on Xayaburi dam project The International Union for Conservation of Nature (IUCN) said Laos’ controversial Xayaburi dam project should be extended for 10 years pending thorough research on cross-border environmental and economic impacts.

Personal Safety in HCM City Over the last several months, there have been reported and verified instances of pick-pocketing, bag snatches, and residential break-ins targeting the expatriate community. Additionally, two residential guards of an ex-pat residential compound were found murdered while on duty. Please take your own personal safety and security seriously in order to avoid becoming a victim.

U.S. Investment and Trade Opportunities in Vietnam’s Southern Key Economic Region A “third wave” of U.S. FDI interest in Vietnam offers business opportunities. A robust and efficient trading and distribution environ

Vietnam and the Trans-Pacific Partnership (TPP) Trade Agreement) The TPP negotiating partners currently include Australia, Brunei Darussalam, Chile, New Zealand, Peru, Singapore, Vietnam, and the United States. Malaysia has officially requested to join the TPP negotiations.

Developing a 21st Century Workforce in Vietnam Vietnam’s top technical universities, working with universities in the U.S., Intel, and the U.S. and Vietnamese governments, have embarked on an ambitious initiative to modernize their engineering degree programs, in the “Higher Engineering Education Alliance Program.”

Vietnam Competitiveness Report, 2010 – Michael Porter, et. al. Vietnam’s growth since the mid-1980s has been driven by transition and structural change. More recently, the policy response mainly focuses on intensifying investment, especially in SOEs and infrastructure, to generate growth rather than on upgrading productivity and efficiency. But the economic logic behind this growth model ultimately has limited potential.

Vietnam Provincial Competitiveness Index, 2010 Using new survey data from 7,300 businesses in Vietnam that describe firm perceptions of their local business environments and hard data, the PCI 2010 continues to benchmark the capacity of local governments to develop regulatory environments for private sector development. The PCI 2010 report includes a special feature on survey results from 1,155 foreign invested enterprises.

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

Last week’s most popular links to events and articles

We, Apr 27 AmCham Palooza Party
We, Apr 20 Developing an Anti-Corruption Compliance Program
Tu, Apr 26 Health Challenges and Risks in Vietnam
Fr-Su, May 27-29 AmCham Dalat Weekend
Mercer Vietnam 2011 Total Remuneration Survey: Key to designing comprehensive pay package
Th, Apr 21 Strategic Approach to Employee Communications
Th, May 12 Dr. Le Dang Doanh Re-gaining Macroeconomic Stability: Outlook 2011

Recent Events and Information Resources on AmCham Web Site

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.

Click the following links for recent event information and to download presentations

Apr 21Strategic Approach to Employee Communications
.Building employee engagement: Ogilvy impact
Apr 20Developing an Anti-Corruption Compliance Program
.UK Bribery Act 2011: Milton Lawson
.Developing a Compliance Program & Internal Controls: Orsolya Szotyory-Grove
.Developing an Anti-Corruption Compliance Program: Sesto E Vecchi
Apr 06Total Rewards Strategy for A Diverse, Intergenerational Workforce
.Total Rewards Strategy: Su-Yen Wong
Apr 05Cloud Computing: Opportunities & Challenges in Vietnam
.Contracting for Cloud Computing: Geofrey Master
.Cloud Computing Overview: Gerry Clark
Apr 05How to Meet U.S. Food & Drug Administration Import Requirements
.Presentation by David Lennarz, VP Registrar Corp
Mar 31Achieve Success with Exceptional Interpersonal Skills
.Presentation by Sue Kazor, Master Trainer

Online Membership Directory Looking for information on AmCham companies? Click here to browse the Online Membership Directory for information about and contact points for nearly 500 AmCham companies, and over 1,000 representatives. Members can contact other members by email via the AmCham web site. Also, links to company web sites for even more information about AmCham companies in Ho Chi Minh City.

Benefits and Services Review AmCham benefits and services and learn how you can benefit from Networking Online, with over 250,000+ visitors and 350,000+ page-views per month to www.amchamvietnam.com.

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