Weekly Update Feb 21: U.S.-A/P Business Summit, Furniture & Home Accessories Fair, Cloud Computing

Highlights

Mo, Feb 28 U.S. Education Information & Career Orientation
We, Mar 2 Challenges in Vietnam’s Multi-cultural FDI Workplaces
Th-Fr, Mar 3-4 U.S.-Asia/Pacific Regional Business Summit, Singapore
Fr-Mo, Mar 11-14 Vietnam International Furniture & Home Accessories Fair
Mo-Tu, Mar 28-29 APBO Asia Pacific Business Outlook, Los Angeles
Tu, Apr 5 Cloud Computing: Opportunities and Challenges in Vietnam

Events, Meetings, Activities, and Special Offers for Members

Mo, Feb 28 U.S. Education Information & Career Orientation| Learn all about college education in the U.S.A.

From now until Feb. 28, Tet Holiday Special Offer – Six Senses Con Dao Take advantage of a limited time offer at Vietnam’s Newest Luxury Resort The Six Senses Con Dao. AMCHAM Members and their friends will receive an Ocean Front Villa at the local resident rate of $ 315++ per night with the third night free. At $ 210++ per night for a three night stay, this represents a 75% discount over the normal rates of $ 790++ per night. Airport transfers and breakfast for two are included.

Feb 24 & Mar 3 Seminars on Investment Clinic Vietnam held by Freeman Capital Management You will learn the essentials of investing in the U.S. and global financial markets; step-by-step how to find winning stocks and funds; 4 advantages of Exchange-Traded Funds and why they are the fastest growing investment vehicle in the US; and How to invest in fast-growing technology stocks and emerging market economies such as Vietnam, China and Brazil. Free Entrance.

We, Mar 2 Morning Briefing: Challenges in Vietnam’s Multicultural FDI Workplaces In today’s global economy, the whole world is the workplace. How should we best organize effective learning across borders and cultures? How can we address highly diverse training demands worldwide? How do we bind our people to a common set of corporate values while taking local realities into account? We collaborate with our clients to transform the talents and potential of work forces worldwide into quantifiable business results. Click the link for more information and to register online.

Ernst & Young Vietnam was named Vietnam Transfer Pricing Firm of the Year at the fifth annual Asia Tax Awards held in Singapore on 23 November 2010. Presented by the International Tax Review (ITR), a globally-renowned magazine focusing on international tax strategy, the award is given to professional services firms that demonstrate the most innovative client work in the Asia-Pacific region for the one-year period between August 2009 and July 2010.

U.S.-Asia/Pacific Regional Business Summit
Join over 250 delegates from business, government, and media for the U.S. – Asia/ Pacific Regional Business Summit. A platform to tackle business and policy issues in Asia and interact with senior U.S. Government Officials, including U.S. Ambassadors to Singapore, Thailand, Indonesia, and APEC who have confirmed to speak at the event along with senior officials from United States Trade Representative and the Department of Commerce. Key issues such as APEC, the Trans Pacific Partnership, the National Export Initiative and the APEC Business Travel Card. Moreover, the program will address the economic and business environment in Indonesia, Vietnam, India, China and ASEAN in particular. Click the link for more information and to register online.

Wood-fired Gourmet Pizzas at Opera Restaurant Chef Michele Gulizzi from the culinary-famed Sicily, Italy introduces new gourmet pizzas using his secret recipes and authentic wood-oven. The specialty pizzas are available at Opera Restaurant, Park Hyatt Saigon hotel throughout the month of March.

Fr-Mo, Mar 11-14 Vietnam International Furniture & Home Accessories Fair Exhibition of Vietnamese furniture, handicraft fine arts, and other wood products. Organized by the Handicraft and Wood Industry Association of HCM City.

Business Opportunity for a foreign company that has or wants to have an outsourcing operation in Vietnam. In 2005, Connexus Corp (www.connexuscorp.com) established a Vietnam subsidiary, which is a 100% foreign-direct investment. This subsidiary performs software development (Java, PHP, Python/Erlang, Ruby-on-Rail), business operations (setting up online ads, reporting/billing), and production support (system administration, database administration) for Connexus Corp. Currently, Connexus Corp has an interest to sell or transfer ownership of this subsidiary to a foreign company who has or wants to have an outsourcing operation in Vietnam. Please click here to send an email for more information.

Gourmet Burgers for Lunch at Square One In the month of March, the award winning Square One restaurant at Park Hyatt Saigon introduces scrumptious gourmet burgers for lunch. The palatable burgers created by the talented Chef Benjamin Attwater will make your lunch a feast to remember. Indulge in a hearty burger selection with savoury meat, featuring US Prime Beef BBQ, Louisiana Blackened Chicken, Thai Style Fish, Indian Spiced Lamb or Falafel to tantalise your taste buds.

Mo-Tu, Mar 28-29 APBO Asia Pacific Business Outlook, Los Angeles Access 14 Asia/Pacific Markets in 2 days. If you are doing business in the Asia/Pacific region, this is the one conference you can’t afford to miss. Find answers to your questions on 14 economies by choosing from 60 focused sessions and private one-on-one consultations. Get the latest information and connect with expert and insiders.

Tu, Apr 5 Cloud Computing in Vietnam: Opportunities and Challenges Cloud computing has the potential to generate a series of disruptions that will ripple out from the tech industry and ultimately transform many industries around the world. The cloud’s ability to access, analyze, store and share information could change our business and personal lives in ways hard to imagine. Vietnamese IT services spending is forecast to reach around US$ 348mn in 2011, as the market approaches US$ 551mn by 2015. IT services now accounts for around 18% of total Vietnam IT spending. Growing demand for digital infrastructure projects in segments such as banking, telecoms, energy and government has attracted global IT services providers to invest more in Vietnam.

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

HCM City looks to collect more blood from donors The Red Cross Association said it would collect at least 150,000 blood units this year, an increase of 10 per cent against last year.

Vietnam FX reserves fall below requirement that reserves cover 10 to 12 weeks of imports.

HCM City to redo urban planning for Thu Thiem Mitch Glass, project manager of the American consultant firm Sasaki Associates, said that changes will be made to construction density, heights, landmarks and block structure in the core area in the new urban town.

Vietnam rate hike to help cut inflation: economist Ratings agencies Moody’s and Standard & Poor’s downgraded Vietnam’s debt rating late last year over worries about the economy, the banking sector and the problems of nearly-bankrupt state-owned shipbuilder Vinashin.

Vietnam air travel to grow at 10.2 pct annually: IATA The top three fastest growing international freight markets over the period will be Hong Kong, China and Vietnam.

Vinashin plans business review after missing debt payment Vinashin got a $ 600 million loan in 2007 from banks led by Credit Suisse Group AG. While it made a $ 6.8 million interest payment on Dec. 23, the company missed a Dec. 20 deadline to make a $ 60 million principal payment and asked lenders for a one-year extension.

Crown Expands Beverage Can Production in Vietnam The expansion will bring Crown’s Hanoi plant total capacity to 1.5 billion cans, and total capacity for Crown in southern Vietnam to 3.2 billion cans.

U.S. EPA Orders Disposal of Seized E-Waste Bound for Vietnam hundreds of discarded computer monitors, identified in shipping paperwork as “scrap plastic.” Many televisions and computer monitors use cathode ray tubes (CRTs) that contain an average of four pounds of lead, and may also contain mercury, cadmium and arsenic that can leach into groundwater if not disposed of properly.

Indian firm Marico enters Vietnam market by acquisition of 85% equity in International Consumer Products for an undisclosed consideration. ICP is a FMCG company in Vietnam, founded by Dr. Phan Quoc Cong.

MiTAC Precision Expands Its Production Scale in Vietnam Compared to China and neighboring countries, Vietnam has relatively lower manufacturing costs, cheaper electricity and a stable labor supply, with labor wages being merely half of that in China.

Vietnam devalues currency as inflation bites; Vietnam must tackle inflation: IMF says “On the monetary policy side, there needs to be a much more decisive focus on containing inflation and then on fiscal policy, there needs to be a much clearer consolidation path for the budget deficit to give the markets – and I’m talking about domestic and overseas – confidence that public debt can be contained,” IMF Country Representative Benedict Bingham said.

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.

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

Feb 16 Members Lunch: Engagement Indicator Survey 2011 Briefing
Mar 2 Challenges in Vietnam’s Multi-cultural FDI Workplaces
Mar 11-14 Vietnam International Furniture & Home Accessories Fair
Mar 3-4 U.S. – Asia/Pacific Regional Business Summit, Mar 3-4, Singapore
Apr 5 Cloud Computing: Opportunites & Challenges in Vietnam
Vietnam devalues currency as inflation bites; Vietnam must tackle inflation: IMF says
From now till Feb. 28, Tet Holiday Special Offer – The Six Senses Con Dao
Mar 28-29 Asia/Pacific Business Outlook 2011, Mar 28-29, Los Angeles
Feb 24 & Mar 3 Seminar on Investment Clinic Vietnam
Iconic building in HCM City: Bitexco Financial Tower

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

16 DecInvestment & Trade with Vietnam’s Southern Key Economic Region
14 Dec2010 Annual Report: Slides Notes
23 NovCai Mep Deepwater Ports: Vietnam’s Trans-Shipment Hub for ASEAN
.Presentation: Cai Mep Deepwater Ports
16 NovMembers Lunch: Vietnam’s Consumer Trends 2010
.Presentation: Vietnam’s Consumer Trends 2010
11 NovAAFA Briefing on U.S. Trade Policy: Implications for Vietnam
.Presentations on U.S. Trade Policy: Implications for Vietnam
.Welcome: Sesto Vecchi, Governor & Managing Partner, Russin & Vecchi
22 OctWork Force Development in Vietnam
.Presentation by Roma Arellano, Intel, and Jeff Goss, Arizona State Univ.
14 OctTowers, Watson 2010 Global Survey: Talent Management & Rewards
.Presentation by Yvonne Cox, Managing Director, Southeast Asia

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).