Keep up-to-date about U.S.-Vietnam trade and investment with Weekly Updates.
Weather in Vietnam and Western Pacific: satellite photos, typhoon forecasts, etc. Aug-Sep-Oct are the main months of the “West Pacific Typhoon Season.” Click on this link for satellite photos updated hourly. No tropical storms active as of Sa-Su, Aug 9-10.
Upcoming Events and Activities (next few weeks)
Plan ahead. Click here to see all upcoming Events and Committee Meetings
Mo-Su, Aug 11-17: August Promotion at Caravelle Hotel. From tiger prawn feast buffet dinner to tastiest dishes of Pacific Rim cuisine with Hawaiian menu and Eclectic menu, guests are so-ever satisfied like this. Big white meaty prawns stirred in woks, Kona Crab Cakes, marinated duck breast, Szechwan beef skewers and etc. It is sure to lure even with the most fastidious. Also, relaxing at Lobby Lounge and tasting all-you-can-eat freshly baked waffles with regular high tea is nearly heaven of heavens. Click the link for more information.
Sa, Aug 30: AmCham Palooza Labor Day Weekend Happy Hour Party Come and kick off your Labor Day / National Foundation Weekend Saturday night with free food and drink specials at the Xu Cafe / Bar.
Mo, Sep 1: Labor Day (U.S. Holiday) Click the link for more information.
Tu, Sep 2: National Foundation Day (VN Holiday) Click the link for more information.
We-Th, Sep 3-4: Time Management Skills: Get the most out of your day! Make the most of your time at work. Achieve a better work-life balance. This two day course will help you identify your strengths and weaknesses in time management, and help you prioritize and delegate far more effectively. Click the link for more information and to register.
We-Sa, Sep 3-6: Masters of Food and Wine Saigon at the Park Hyatt. From intimate gourmet dinner featuring distinguished guests chefs’ creations, wine workshops with winemakers from all continents, to exciting cooking sessions, the Masters of Food and Wine Saigon will be a most unique and memorable event of the year. For reservations and more information, please call +84 8 520 2357 or visit www.mfwsaigon.com.
Th, Sep 11: Members Night and Meet the U.S. Consulate General. Back to work and back to school after the summer holidays and transfer season. Issues brief and cocktail reception with networking opportunities to meet new arrivals and renew acquaintances. Members’ spouses and invited guests are welcome and encouraged to attend!
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.
News and Issues Updates
Click this link to read the below and more News Highlights: Business, Trade, and Investment in Vietnam and Asia.
The Philippines: Competing with China and Vietnam The Philippines can no longer compete on the basis of cheap labor. It must switch to a higher-value strategy. As high-tech manufacturing becomes more sophisticated and technical problems become harder to solve, one important consideration that these new semiconductor processes require is access to large pools of seasoned engineers and scientists with graduate degrees. Another consideration is access to suppliers of equipment and materials. To shift to this new, higher-value-added strategy, the Philippines needs to make sure that industry works closely with key universities. This also means the Philippine government really needs to beef up its efforts in science and technology education.
Vietnam tells companies to absorb cost rises Fitch’s head of Asian sovereign ratings said the announcement suggested “we will see further administrative controls rather than market-based controls” on inflation, which would do little to halt Vietnam’s excessive growth in money supply. While the government indicated on Monday it could impose severe sanctions on companies that push up their prices because of higher costs, it recently raised retail fuel prices. As a result, Moody’s Economy.com said in a report last week that there was “a strong chance” of inflation reaching 30% in the third quarter.
Overseas Vietnamese, workers send more money home With more than 3 million overseas Vietnamese living around the world, Vietnam is now a promising remittance market.
No more delays for graft cases: Deputy PM The outstanding cases are the Go Mon land scam implicating two HCMC district senior officials, the electronic meter tendering scandal at the HCMC Electric Power Company, and the land-grab scam at the state-owned Quan Tre radio station.
“Commodity jam” (congestion) fee still in place although congestion over The volume of exports and imports has decreased by 30-40% over April and May; therefore, additional commodity jams will not occur in the immediate time, at least. There are 60 foreign shipping firms operational in Vietnam, which make up 90% of the container transport market in HCM City.
Vietnam urged to develop supporting industries Sony has foreseen that their Vietnam-made products cannot compete against imports, which will enjoy tariff exemption by 2010 in line with Vietnam’s commitments to the World Trade Organization, due to a lack of local supporting industries. Also, Vietnamese producers can only supply a few of automobile components, while their peers in Thailand or Indonesia have been able to provide up to 90 per cent of components.
Japanese firm “hit with 15% bribe demand” for corrupt payments to Vietnamese official According to the Tokyo District Public Prosecutors Office Special Investigation Headquarters, former PCI managing director, Kunio Takasu, and other PCI officials paid more than 200 million yen between 2001 and 2006.
Japanese prosecutors arrested four on suspicion of corrupt payments to a Vietnamese official Former executives of Japanese construction consultancy Pacific Consultants International arrested on suspicion of providing bribes of around $ 2.8 million to win orders for a Japanese government-financed road construction project.
Vietnam to sell 1 trillion vnd govt bonds on Aug 8 The proceeds will go to funding major infrastructure projects such as roads, bridges and ports. At its latest auction on July 11, the State Treasury failed to sell any of its two-year and three-year bonds worth a combined 500 billion dong because no participants joined the auction.
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.
Photos from AmCham’s Independence Day Family Picnic Over 150 photos.
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.
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.
Computing Tips from the AmCham Webmaster
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Understanding the web browser threat and the “insecurity iceberg” There have been frequent reports of hundreds of thousands of Web sites succumbing to mass-defacement, which cause once benign sites to turn against their visitors. Even pages owned by institutions like the United Nations (un.org), the UK government (.gov.uk) and many others have succumbed to such attacks. In 2007, Google uncovered more than three million malicious Web addresses (URLs) that initiate “drive-by downloads.” More than 600 million users are at risk because they are not running the latest most secure Web browser version in June 2008. Click the link to learn more. 27 Jul 2008.
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Keep up-to-date about U.S.-Vietnam trade and investment with Weekly Updates.