|AmCham Membership Directory 2011 – update your listing|
|We-We, Jan 12-19, 11th Party Congress in Hanoi|
|Fr-Su, Jan 21-23 AmCham Dalat Winter Weekend|
|We-Mo, Feb 2-7 TET Lunar New Year (Yr of the Cat)|
Events, Meetings, Activities, and Special Offers for Members
AmCham Membership Directory 2011 – update your listing And, as you plan your marketing activities, be sure to consider the AmCham Membership Directory. We update it every year over October-December, print it in January, and deliver it after TET. It’s used daily by members and employees at AmCham’s more than 700 member companies, with over 1,400 representatives. New members use it when they join, referencing the special section on member benefits and Chamber programs and activities, as well as surveying the directory to find new business partners.
Vietnam’s Most Productive Companies 2010 Profiles International has conducted its first Vietnam study about labor productivity based on human capital analysis to better understand the factors driving employee productivity within an organization. With companies looking to maximize resources, the Profiles Research Institute sought to understand the factors that drive employee productivity within an organization. The Vietnam’s Most Productive Companies 2010 research project also uncovers key characteristics which make these businesses the country’s most productive companies.
Su-Sa, Jan 9-22 French Tapas at Caravelle Hotel Enjoy tantalizing appetizers including house smoked cobia, roasted quail stuffed with young spring onions, Nha Trang lobster, slow cooked beef rib on roasted root vegetables. And much more to pander the palate.
MK Smart, the Vietnamese leader of smart card providers, received VISA Card accreditation for its Global Vendor Certification Program VISA hereby confirms that the security configuration of MKSmart premises is in compliance with the VISA Physical Security Standards for Plastic Card Vendors and Logical Security Requirements for Card Personalization.
Th, Jan 13 “The Year Ahead: Executive Summary and Outlook 2011” Well-known guest speakers from a variety of sectors will shed light on the coming business year, including their ideas about corporate challenges and obstacles, as well as their positive (or negative) projections.
Fr-Su, Jan 21-23 AmCham Dalat Winter 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. Register now for this stimulating weekend, with optional activities including excursions, trekking and golf, spa and exquisite cuisine. The Dalat Palace epitomizes the seductive charm of Dalat. It is one of the few remaining historical hotels in Asia, and offers the finest in European atmosphere, amenities and service. Spaces are limited, so early registration is advised.
We-Mo, Feb 2-7 TET Lunar New Year (Yr of the Cat) VN Holiday. Click on the link to learn more about this holiday and TET customs in Vietnam, the Lunar Year calendar. Traditionally there are four main holidays: TET Lunar New Year’s Eve (We, Feb 2), and The First (Th, Feb 3), Second (Fr, Feb 4), and Third (Sa, Feb 5) Days of TET Nguyen Dan. Since one of the official holidays is on the weekend, the holiday is observed from Wed, Feb 2 – Mo, Feb 7.
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
Vietnam – US Relationship Has Grown Beyond All Expectations – Ambassador Michalak On the occasion of New Year 2011, Vietnam Business Forum reporter Doan Tien interviewed Mr Michael Michalak, US Ambassador to Vietnam, who will finish his term in January 2011, to learn about the achievements in bilateral cooperation between the countries over the past 15 years.
Vietnam dairy farm to be Asia’s largest with 10,000 high-quality milk-cows now, and 45,000 by July 2012, which are raised with strictly-sterilized water and grass. Their health is controlled by computers via electronic chips fixed on their legs, and they are bathed every day with music played, to ensure their best quality milk.
Vietnam retail market abuzz with expansion plans and joint ventures Local companies have certain advantages including understanding the market, already having retail chains and knowing more about government policies. These are the weaknesses for foreign retailers, which have technology. So, it will be a win-win situation if they work together.
Vietnam’s industrial output grows 14% in 2010, led by the FDI sector with a 17% increase to USD 17.1 billion (42% of total). Private sector Vietnam businesses accounted for 36% of the total, while State-Owned Enterprises accounted for only 22%.
Net FDI to remain upbeat in 2011 The FDI sector exported $ 38.8 billion (57% of total exports) in 2010 and contributed $ 3.1 billion to the state budget in 2010, 27.8 and 26 per cent increases respectively against 2009.
Can Tho International Airport (VCA) a landmark for Mekong Delta A transit hub that serves domestic flights from Can Tho to Hanoi and other cities in the country such as Danang, Hue and Nha Trang. The airport will be able to handle at least one million passengers a year to 2015.
Little cheer in TET bonuses Increased salary and Tet bonus has been counterbalanced by double-digit inflation of 11.75 per cent in 2010, compared with 6.88 per cent in 2009.
TET bonus problems contribute to strikes in southern provinces We are also worried about an increase in strikes when the Tet is coming nearer. This situation happens every year. “I personally think that Tet bonus at foreign enterprises in Vietnam this year will be lower than last year, due to their business difficulties when Vietnam’s economy is yet to fully recover.”
Credit quality is a priority “Money should be invested in direct production sectors to gain high GDP rate instead of pouring a lot of money into property, securities and consumption of luxury items,” said Ho Chi Minh City Banking University’s Business Management Faculty head Le Tham Duong.
Vietnam interest rates soar, borrower sentiments spiral down The central bank is aiming to cut credit growth in 2011 to 23 percent, in an effort to curb inflation. It is also targeting money supply growth of 21-24 percent in 2011, after 23 percent this year, it said in a statement.
Growth mania behind firm’s default Inflation is soaring, reaching 11.75% year-to-year in December, while Moody’s Investors Service, Standard & Poor’s and Fitch Ratings have all downgraded Vietnam’s credit ratings because of its relentless focus on pumping up growth. The government, meanwhile, appears set to continue its rolling devaluations of Vietnam’s dong currency, which has lost around a fifth of its value since 2008 as Vietnam floods the banking system with money.
Economic problems driven by unchecked growth The PM was saying we can do growth, have macroeconomic stability, and maintain political stability all at the same time. So, he’s juggling three balls and the odds are that one might be dropped. And, that could be the macroeconomic stability. But Moody’s says Vietnam’s long-term economic outlook is still positive
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 environment will promote and support FDI.
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.
Vietnam’s Socio-Economic Development Strategy for 2011-2020 Essential reading for any serious student of Vietnam’s policy formation process, and an important public document designed to frame informed debate. It is a key step in the preparation for the eleventh national congress of the ruling Party that will convene in January 2011.
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
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
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.
Your announcement in AmCham’s Weekly Update email Early each week, AmCham’s Weekly Update email goes out to over 1,000 representatives of nearly 500 AmCham companies, plus over 4,000 subscribers in Vietnam, Singapore, Japan, and the USA. We welcome event announcements that are of interest to our business readers.
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