Weekly Update Jul 13: “Better than Bali,” Networking in Danang, Palooza Party

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 21 AmCham Young Professionals Palooza Party Come and meet others in HCM 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.

“Better than Bali” say investors in Vietnam’s Central Region Vietnam’s Indochina Land began on April 30 selling condominiums and villas at its Hyatt Regency Danang Residences on the beach. Major construction had not yet begun but by late June more than 60 percent of units were sold. Hyatt Regency, JW Marriott, and Crowne Plaza are to manage hotels in the area.

Fr, Jul 31 Business Roundtable and Networking Night in Da Nang With the invitation and cooperation of VCCI / Danang, AmCham is organizing a Business Roundtable and Networking Night. Learn about the business environment in Danang and the Central VN Key Economic Region, followed by a business networking cocktail reception with Central Vietnam business and political leaders. After the Roundtable and Networking on Friday, participants may enjoy optional sightseeing or golf on Saturday.

Northwest Airlines: promotion for travelers who purchase tickets in July 2009 and depart by 31 Dec 2009 Northwest Airlines (NWA), a wholly-owned subsidiary of Delta Air Lines, is offering a special promotion from HCM City to the USA with very attractive fares: lowest at $ 725 (exclusive of taxes). Moreover, NWA has eliminated its fuel surcharge, making passengers’ trips easier than ever. Call +84 8 7306 6888 or reach our office at Room 201, 2nd Floor, 2A-4A Ton Duc Thang St., Dist 1, HCMC for reservation today. Click the link for more information.

Th, Jul 23 RMIT Executive MBA Info Session Start Your Executive MBA at RMIT International University Vietnam Today!

Tu, Aug 4 Lunch: U.S. Consumer Product Safety Requirements (Apparel and Furniture) Learn how the U.S. Consumer Product Safety Commission is working with producers and exporters to reduce and eliminate unsafe goods. The focus of this talk is on apparel and furniture consumer product safety requirements.

Th, Aug 6 Joint Chambers Networking Night Come and meet others in HCM 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.

Tu, Aug 25 AmCham Young Professionals Palooza Party Come and meet others in HCM 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.

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.

AmCham is now on the two most popular social networking sites: facebook, twitter. Click the links for more information.

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.

“Better than Bali” say investors in Vietnam’s Central Region Vietnam’s Indochina Land began on April 30 selling condominiums and villas at its Hyatt Regency Danang Residences on the beach. Major construction had not yet begun but by late June more than 60 percent of units were sold. Hyatt Regency, JW Marriott, and Crowne Plaza are to manage hotels in the area.

Finance Asia picks ACB as Vietnam’s best bank in 2009 In May, ACB was selected Vietnam’s best domestic bank by the Asiamoney magazine. The HCM City-based bank now has a charter capital of VND6.3 trillion and more than 20,000 shareholders. Its total assets rank fifth among the banks in Vietnam. ACB operates about 200 branches.

Maryland to open new business development office in Vietnam The new office will be run by Rockville-based Meiwah International Holdings, an importer-exporter that will essentially work on commission.

Vietnam ready for World Information Technology Forum, Aug 26-28 in Hanoi 1,500 delegates from 70 countries will attend.

Vietnam will be ASEAN Chairman in 2010 and will host a series of ASEAN summit meetings, as the region plans to achieve a regional market with the ASEAN Economic Community Blueprint 2015.

Vietnam footwear exports declined 8.8% in the first six months of 2009. But exports to the U.S. market were up 9% over the same period in 2008. Vietnam’s total footwear exports were $US 2 billion in the first half of the year.

Vietnam’s economy riding on “successful” stimulus Loosened monetary policies and interest-rate subsidies played an important role. Vietnam had credit growth of 71% in the first half of the year, which does raise questions about the quality of lending and inflation accelerating to 11% by the middle of 2010. The government has no plans to cut stimulus spending to ease the pressure on the state budget.

Danger signs seen in Vietnam’s stimulus “They are trying to turn back the clock to 2006 and 2007, when the name of the game was exporting as much as possible to profligate Americans. But Americans might not resume spending again in the same way, and we could end up with a serious inflation problem again.”

Vietnam’s aviation industry reeling The number of international arrivals by air decreased by 12% in the first six months. While the average seat occupancy rate was 72.5%, the rate for international flights was just 36.5%.

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. Hoiwever, domestic tourism is up 12% over the same period in 2008.

Climate change may displace millions in Mekong Delta The Mekong Delta is home to 22 percent of Vietnam’s population, produces half the nation’s rice output, 60 percent of seafood, 80 percent of fruit crops and accounts for 90 percent of total national rice exports. A two-meter sea level rise would flood the homes of 14.2 million and put one-half of the regions three million hectares of agricultural land under water.

Senior officials face corruption charges in botched e-government Project 112 Launched in 2001, the VND3.83 trillion (currently 0 million) Project 112 aimed to install integrated software at administrative offices nationwide, train officials in IT, and link all agencies through one shared network. The project was scrapped in 2007 following financial, technical and legal problems like flawed software, wasteful spending, and poor planning.

Many corruption cases processed slowly PM Nguyen Tan Dung confirmed that positive results were achieved in the anti-corruption fight in the past six months. Those involved in major corruption cases discovered recently have been strictly punished. He emphasized that reforming administrative procedures and operating the Government and business in a transparent and open manner are essential deterrents to corruption.

Philadelphia-based export company executives pleads guilty to corrupt payments to Vietnamese officials. 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.

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

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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.

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