Events, Meetings, Activities, and Special Offers
Feb 3 – 12 Morel Mania arrives at Caravelle Business is mushrooming in Reflections Restaurant this February.The elusive morel mushroom is the star of a gourmet promotion at the Caravelle Hotel from Feb. 3 – 12, 2012. Get a taste of the morel’s delicate, nutty flavor from an a la carte menu; or choose from two set menus featuring the highly prized seasonal mushroom in a series of favorite dishes.
Tu, Feb 7 Lunch: The Year Ahead: Executive Summary and Outlook (co-hosted CanCham event) Well-known speakers from a variety of business sectors will present their outlooks, and identify challenges and likelihoods for the Year of the Dragon.
Tu, Feb 7 Legal & VBF Committee Click the link for the agenda.
We, Feb 8 Reception: Rita Colwell, PhD, U.S. Science Envoy Universities as Growth Engines: How Government and Industry Can Support University-led Innovation. The U.S. Science Envoy program promotes U.S. global engagement in science and technology, deepens existing ties and fosters new relationships with international counterparts, and gains insights from other nations about potential areas of collaboration that will help address global challenges and achieve shared goals.
Tu, Feb 14, Valentine’s Day at Legend Hotel Saigon Sweep your loved ones off their feet with Saigon’s most spectacular international buffet at the renowned Atrium Café of this luxury river-front 5-star international hotel.
Fr, Feb 17 Lunch: U.S. Taxation of US Citizens and Companies: The Arguments for a Territorial Approach Unlike every other developed country, the U.S. imposes tax on the worldwide income of its citizens and permanent residents who live overseas. The US imposes high corporate income tax rates on US multinationals as well as complex “controlled foreign corporation” rules and reporting obligations. This year international tax issues have become a hot topic of debate in the US. Key elements of the US international tax rules as they affect US citizens and companies operating in Asia, including the section 911 foreign earned income exclusion, and reasons why the US should move to more of a territorial system of taxation.
Fr, Feb 17 Vietnam’s Tertiary Education: Preparing Graduates for Work? (co-hosted BBGV event) Leaders in Vietnam’s tertiary education sector and business leaders will explore how universities and business could cooperate to bring the very large numbers of Vietnamese graduates into the work place more efficiently.
Th, Feb 23 Vietnam Customs Duty Conference 2012 A full day, in-depth workshop with all the practical considerations that businesses need to know in navigating Vietnam’s customs procedures and laws, which have changed a lot in the five years since Vietnam became a WTO member in Jan 2007.
Fr-Su, Feb 24-26 Winter Weekend: Register Now 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 2012. Three days/two nights including room with American breakfast, Fri: Welcome Wine & Cheese reception; Sat: Morning Chairman’s Roundtable, Evening Cocktails, Gala Dinner. Plus optional outings, golf, or just relax in the brisk mountain air.
Th-Fr, Mar 1-2 APCAC 2012 U.S. – Asia Business Summit (Tokyo) Over 300 senior leaders from business and government. Ambassadors from around the region. High-level American government trade policy and investment promotion officials from Washington. Business executives based in the region and from head offices in America. Japanese political and business leaders.
Mo-Tu, Mar 26-27 Asia Pacific Business Outlook 2012 (Los Angeles) Access 17 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 17 economies by choosing from 60 focused sessions and private one-on-one consultations. Get the latest information and connect with expert and insiders. APBO’s 25th Anniversary: since 1987, APBO has been the premier business conference focused on trade and investment in Asian markets.
Tu, Nov 6, U.S. General Elections Day • U.S. Voter Registration Web Sites More than 6 million Americans live overseas. If the overseas American community were a state, we would be the 18th most-populous state in the union. Our votes count … click the link to register online, get a ballot, and vote.
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Stay informed about Vietnam-U.S. trade and investment with Weekly Updates (Past Issues).
News and Issues Updates
Tilleke & Gibbins Elevates Michael K. Lee to Partner of the firm, effective Jan 1, 2012. Michael counsels clients and manages cases on a wide range of corporate matters, including mergers and acquisitions, licensing, commercial transactions, real estate, regulatory affairs (particularly for the life sciences and high-technology industries), FCPA compliance, and labor. In 2011, he was identified as a leading lawyer in Vietnam in the areas of Corporate and M&A (by Chambers Asia-Pacific) and Real Estate (by Asialaw Leading Lawyers).
ISHCMC Celebrates Opening of New Wing and Launches HCMC’s only 1 to 1 computer tablet program ISHCMC held a ribbon-cutting ceremony and an Open House with nearly 300 students, teachers and parents on hand to join in the festivities.
Ho Chi Minh City 2011 • YouTube Video Tour Fast-paced video of Ho Chi Minh City at the end of 2011. You may not believe all the changes that have taken place in recent years … ! Source: People’s Committee of Ho Chi Minh City. Used with permission.
Every day organisations are steering blindly into the future with strategic plans and annual budgets that are outdated and fail to correspond with reality. In the current business environment, where today’s plans may greatly differ from tomorrow’s reality, organisations need to forecast faster and more frequently if they intend to successfully address today’s needs and meet tomorrow’s demands.
Moody’s upgrades Indonesia’s sovereign rating to Baa3; outlook stable key drivers: government financial metrics, resilience to external shocks, healthier banking system, policy tools for financial vulnerabilities.
Indonesia foreign direct investment hits record $ 20 billion in 2011 with Singapore, Japan and the United States among the Southeast Asian nation’s top investors.
Wall Street Journal Launches Southeast Asia Edition, recognizing the increasing economic importance of the ASEAN region.
Footwear, garment exporters put high hope on TPP Enterprises in garment and footwear industries – the two biggest exporters of Vietnam – are expecting opportunities to penetrate more deeply into the US market, when the Trans-Pacific Partnership TPP is signed. In 2011, Vietnam’s garment export turnover to the US reached 7.1 billion USD, accounting for 50 percent of the total garment export turnover, an increase of 13 percent over 2010. Meanwhile, the footwear export turnover to the market reached 2 billion USD, and handbag exports brought 700 million USD.
Japan’s largest chemical producer invests in VN Shin-Etsu Chemical Co will set up two companies specializing in manufacturing silicone-based materials for high-brightness LED lights, and refining rare earth minerals, with a total investment of about US$ 64 million, to supply demand from customers in Vietnam and neighboring countries, and help reduce reliance reliance on China for raw materials. According to the company, the two facilities will be completed and begin production in Q1, 2013.
Vietnamese exporters brace for 2012 After posting a record annual growth of 33.3 percent in export revenues in 2011, led by apparel ($ 14 bil, 46% local content), crude oil, footwear (.5 bil, .8 bil local content), seafood ($ 6 bil), rice ($ 3.6 bil), and furniture ($ 3 bil). The top-ranked apparel sector exports to the U.S. of about $ 7.3 billion accounted for more than 50% of Vietnam’s total apparel exports of $ 14.02 billion.
Vietnam still seeks a way-out for state-owned groups In December 2011, the government held a significant meeting that focused on these “great businesses” that was presided over by Prime Minister Nguyen Tan Dung, Deputy Prime Minister Vu Van Ninh (in charge of finance) and Hoang Trung Hai (in charge of industry and trade).
“New Year’s Resolution” of American Ambassador to Vietnam “Our two countries have very good relations, common interests and can benefit a lot from this relationship, not only in economics, education, healthcare, environment but also diplomacy and defense. Strategic partnership is the best way to operate and address our developing ties. It is interesting that the Vietnamese I’ve met are very interested in this relationship.”
Foreign securities firms welcome Entirely foreign-invested securities and fund management companies will be authorized to operate in Viet Nam effective January 12, creating challenges for Vietnamese firms but also opportunities for market to develop.
Despite strict regulations, car imports from unofficial distributors still flock to VN Circular No 20 stipulates strict regulations on importing cars, only products to be distributed by authorized resellers; however, luxury cars from different sources still have been flocking to Vietnam. In 2010, U.S. exports of cars to Vietnam exceeded $ 230 million.
Vu Khoan: Vietnam China Relations Vietnam’s most remarkable foreign affairs event of 2011 was Party Secretary General Nguyen Phu Trong’s visit to China, and its key result: the signing of the six-point agreement on guiding principles for negotiation of sea-related issues between the two countries. It clearly points out that bilateral matters will be solved bilaterally, and multilateral issues will be settled multilaterally.
Two Web Sites for Overseas U.S. Voter Registration in 2012 Use the Overseas Vote Foundation and/or Federal Voting Assistance Program to simplify and accelerate your voter registration and request for absentee ballot.
Vietnam – U.S. trade status and outlook, 2011 – 2020e Despite the difficult domestic and international economic environment, Vietnam – U.S. trade in 2011 continued its steady increase. Total bilateral trade in 2011 was about US$ 22 billion, with Vietnam’s exports to the U.S. about $ 17.5 billion (up 17%), and imports from the U.S. about $ 4.5 billion (up 19%), demonstrating once again that manufacturing foreign direct investment (FDI) and trade are strong and stable factors that support Vietnam’s economic and social development.
Asia-Pacific Trade and Investment News for the Asia-Pacific Council of American Chambers of Commerce (APCAC), prepared by the BGR Group.
U.S. Chamber Asia Weekly Update, Jan 18-22, 2012. The U.S. Chamber of Commerce represents 3,000,000 businesses, 2,800 state and local chambers, 830 business associations, and 115 American Chambers of Commerce in 102 economies.
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Recent Events and Information Resources
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