Weekly Update Jan 19: TET, Dalat Winter Weekend

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Upcoming Events and Activities

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

Fr-Su, Feb 13-15 Dalat Winter Weekend and Roundtable 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 2009. Three days/two nights including room with American breakfast, welcome cocktail, morning Roundtable and evening Gala Dinner for as low as $ 339/couple. Register now for this stimulating weekend, with optional activities including excursions, trekking and golf, spa and exquisite cuisine. The Sofitel Dalat Palace Hotel 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. Don’t miss this weekend.

Su-We, Jan 25-28: Caravelle’s Nineteen Delectable TET Buffet. The Caravelle Hotel welcomes the Year of the Ox at Nineteen Jan. 25-28 with a buffet that celebrates the best of the mains and the range. “Nineteen’s buffet is a marvel throughout the year, but we pull out all the stops at Tet,” said John Gardner, general manager of the Caravelle. The 2009 buffet costs USD 47 per person and comes with a passion fruit welcome drink and our regular free flow of Italian and Chilean wines.

Summer Mencher 170pxSummer Mencher at the Park Hyatt Lounge. Park Hyatt Saigon is delighted to introduce Summer Mencher from San Diego, USA, who will provide live entertainment in the Park Lounge every evening (except Tue) until 13 April 2009.

TET Lunar New Year 2009 (VN Holiday) – Year of the Water Buffalo – Jan 26-29 Only 14 days before TET, Vietnam’s most important holiday. Click on the link to learn more about this holiday and TET customs in Vietnam.

All upcoming events …

News and Issues Updates

U.S. Firms Deepen Job, Wage Cuts In a recent poll, 5% of 117 companies surveyed said they had reduced salaries to cope with the recession; 6% plan to do so in the next year. Meanwhile, 7% of 805 small businesses surveyed recently by the National Federation of Independent Business said they had reduced salaries. The percentage of companies cutting salaries has never been higher than 4% since the survey began in 1973.

Retail sales keep sliding, declining 2.7% from November Sales were down nearly 10% from December 2007, the biggest yearly drop since records began in 1968. The marked declines in retail sales and spending in general during the final months of 2008 are already prompting fresh waves of layoffs and cost-cutting that could prolong the downturn.

Vietnam anti-corruption journalist freed in TET Lunar New Year Amnesty Le The Tiem, Vice Minister of Public Security, says journalist Nguyen Viet Chien will be released Saturday along with more than 15,000 prisoners as part of an annual Lunar New Year prison amnesty. Also to be released are 277 former officials who were jailed for corruption charges.

Siemens $ 1.3 billion legal settlement of Foreign Corrupt Practices Act violations “Execs being marched off to jail would amplify the shock effect. Certainly the $ 800 million will have an effect, but it’s the orange jumpsuits that get everybody’s attention, ” says Wrage of Trace International.

Avery Dennison under investigation for violation Foreign Corrupt Practices Act in China Justice Department officials say enforcement of the FCPA is second only to fighting terrorism in terms of priority. Currently, at least 91 cases are open, triple the number four years ago, according to a report issued last month by Shearman & Sterling, a New York-based law firm that tracks FCPA cases.

California runs out of money to pay bills The suspension of payments is the latest radical move by officials to help keep the state from running out of cash as Gov. Arnold Schwarzenegger and the Legislature battle over how to avoid insolvency. Schwarzenegger has ordered that most state workers take two days off per month without pay, equivalent to about a 10% pay cut. The governor also ordered most state offices, including all DMV field offices, to close on those two days.

U.S. Commerce Department Vietnam apparel import monitoring program comes to an end “As the commitment on monitoring certain textile and apparel imports from Vietnam will be fulfilled with the end of this Administration, we will be removing the monitoring page and the hotline from our website, effective Friday, January 16.”

Prime Minister requests harmonious labor relations, stable investment environment, social order Action Plan for the implementation of Directive No. 22-CT/TW dated 05 June 2008 of the Secretariat of the Central Committee on enhancing leadership, providing direction for the development of harmonious, stable and progressive labor relations within enterprises.

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

Information Resources on AmCham Web Site www.amchamvietnam.com

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 Governors Ball – online

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