Weekly Update Jul 06: Palooza, Special Offers, The Pope on facebook

Latest updates on H1N1/A Flu from U.S. Center for Disease Control, U.S. Department of State (Travel), and World Health Organization (WHO)

Lucky Draw Prize Winners, USA Independence Day Celebration & Family BBQ, July 4th, 2009. Click the link to see if you have a winning ticket number, and details about how to pick up your prize.

Tu, Jul 07 Legal & VBF Liaison Committee Meeting Regular monthly meeting. Click the link for agenda and to register online.

Tu, Jul 21 AmCham Young Professionals Palooza Party Come and meet others in Ho Chi Minh City with free food and drink specials. The monthly Young Professionals Palooza Party is a platform to develop networking opportunities, information exchange, and new friendships.

Northwest Airlines:Join WorldPerks® today and we’ll match the Elite status you enjoy on other airlines and more! Northwest Airlines and Delta Air Lines invite AmCham high flyers to join WorldPerks frequent flyer program. If you are a current Elite member of another airline frequent flyer program, we will match your status with comparable WorldPerks Elite membership in 2009 and invite you to enjoy all the benefits and privileges that come with it through February 28, 2010! Register with us by July 31, 2009.

Th, Aug 6 Joint Chambers Networking Night Come and meet others in Ho Chi Minh City with complimentary canapes and “happy hour” drink prices. Co-hosted by AusCham, AmCham, BBGV, CanCham, EuroCham, HKBAV, InCham, Nordic Business Association, Malaysia Business Chamber, NZ Chamber.

Caravelle Hotel: LUNCH AT THE BEST BAR. A welcoming combination any time of the day, it hits the spot for a quick lunch or casual meal with good conversation.

We, Aug 26 AmCham Young Professionals Palooza Party Come and meet others in Ho Chi Minh City with free food and drink specials. The monthly Young Professionals Palooza Party is a platform to develop networking opportunities, information exchange, and new friendships.

VILAF – Hong Duc received “Vietnam Deal Firm of the Year” Award at the 2009 ALB SE Asia Law Awards.

South Saigon, New K-12 Campus Available: 1.8 Hectare in a 18,000 population master planned community, will be the best in HCMC, River front develpment enjoys 40 meter park setback for sports activities. Available for long term lease, purchase or build to suit. By Owner, courtesy to brokers.

The Nam Hai, Hoi An Special Rate for Local Residents. Come to paradise – the “World’s Best Designed Resort,” “Best Beach Resort,” “Best Destination Spa in Asia.”

LEGEND HOTEL SAIGON TO OPEN A NEW GATE Ho Chi Minh City’s luxury river-front five-star international hotel, Legend Hotel Saigon, has recently opened their back gate located on Thai Van Lung Street, giving it excellent location right in the center of the business, shopping, market and entertainment district

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

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

Pope Benedict XVI is on facebook A new Vatican website offers an application called “The pope meets you on facebook,” and other applications allow followers to view the Pope’s speeches and messages on iPhones or iPods.

Intel, Portland State University team up on $ 2 million Vietnam student program The Vietnamese students will complete the last two academic years of their engineering degree at PSU before returning to Vietnam in June 2011. After that, they’ll work for three years at Intel Vietnam, pending successful completion of their degree and a job interview.

Vietnam’s population grows by 1.3 million each year Vietnam’s population exceeded 86 million, as announced by Ho Chi Minh City’s Department of Population and Family Planning at an anniversary held in HCM City on July 3.

Datalogic Scanning facility in HCM City to produce products for Asian market This new investment will allow the company to develop products (fixed bar code readers for the retail market and manual bar code readers) designed specifically for the requirements of the Vietnam and Asia/Pacific customers. Production commenced in June and the factory will employ more than 60 staff, who will produce barcode readers for supermarket checkout counters.

Philadelphia-based export company executives pleads guilty to corrupt payments in Vietnam He faces a maximum sentence of 10 years in prison.

Vietnam ratifies United Nations anti-corruption convention Vietnam’s government insists that fighting corruption a priority, but international donors have said the country is not doing enough.

UBS Client Pleads Guilty to Filing False Tax Return, and Failure to File FBAR Boca Raton FL resident hid income and assets in secret Swiss bank account. He faces a maximum sentence of three years in prison and a maximum fine of $ 250,000 or twice the amount of pecuniary gain to the defendant or loss to the IRS.

Recognizing consumer differences is key to marketing in Vietnam In HCMC, individualism is dominant as people care less about other’s opinions. HCMC residents are more open to change and like to try new things and as a result are a mixed consumer group. On the other hand, in Hanoi there is homogeneity of consumers and a collective spirit where people listen to their peers and are influenced by their opinions and recommendations, with social conformity accorded high priority.

Fitch Downgrades Vietnam’s Local Currency Rating; Outlook Stable The downgrade is based on a steady deterioration in Vietnam’s fiscal position, which is undermined by structural weaknesses, including a low revenue base and reliance on volatile oil-related revenue. The general government fiscal balance has been in deficit, despite high single-digit economic growth over the last two decades. In 2009 and 2010, Fitch forecasts fiscal deficits of 9.3% and 7.8%, respectively, compared to ‘BB’ median of projected deficits of 3.6% and 3.4%, respectively. And Vietnam’s banking system is weak and vulnerable to potential systemic stress.

Vietnam to build national “Single Window” customs system The NSW system is expected to accelerate the pace of customs clearance, thereby improving trade effectiveness and competitiveness. Vietnam and other ASEAN nations have agreed to work out a NSW customs clearance mechanism by 2010 to achieve the ASW (ASEAN Single Window), which will link all NSWs to enhance economic and trade development in the region.

International tourists’ visits to Vietnam down 19% in first six months Vietnam welcomed 1.89 million international tourists in the first six months, making it hard to reach the “target” of 4.5 million tourists in 2009. However, domestic tourism is up 12% over the same period in 2008.

Vietnam’s apparel exports to Japan increase after Vietnam-Japan Economic Partnership Agreement Vietnam’s garments and textiles exported to Japan this year are predicted to rise from US$ 900 million to US$ 1 billion.

National Party Congress to be held in January 2011 The Party Central Committee called on the entire Party, people and army to make a greater effort to successfully implement the resolutions of the 10th Party Congress and actively prepare for the 11th National Party Congress and grassroots-level congresses to move Vietnam forward, for the sake of a rich people, a strong country and an equitable, democratic and civilized society.

Poorly Made in China: An Inside Account of the Tactics Behind China’s Production Game “Quality fade”—Chinese factories transform what were profitless contracts into lucrative relationships. The production cycle is the opposite of the theoretical model of continuous improvement. After resolving teething problems and making products that match specifications, innovation inside the factory turns to cutting costs, often in ways that range from unsavoury to dangerous. Packaging is cheapened, chemical formulations altered, sanitary standards curtailed, and on and on, in a series of continual product debasements.

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 these and more News Highlights: Business, Trade, and Investment in Vietnam and Asia.

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.

Online Directory Looking for information on AmCham companies? Click here to browse the Online Directory for information about and contact points for over 450 AmCham companies, and over 900 representatives. Also with links to company web sites for even more information about American and international businesses in Ho Chi Minh City.

Benefits and Services Review AmCham benefits and services and learn how you can benefit from Networking Online, with about 100,000 visitors and 250,000 page-views per month to www.amchamvietnam.com.

Your announcement in AmCham’s Weekly Update email Early each week, AmCham’s Weekly Update email goes out to over 900 representatives of over 450 AmCham companies, plus thousands of subscribers in Vietnam, Singapore, Japan, and the USA. We welcome event announcements that are of interest to our business readers.

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