Weekly Update Jun 01 Your Taxes, Furniture Networking Night, Saigon Gold

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

Tu, Jun 2 How to Pay and/or Save on Your U.S. and Vietnam Taxes One of the best-spent 90 minutes a member could have in a week. Key issues for U.S. Citizens and Permanent Residents (Green Card Holders) living in Vietnam. Focus on the US tax rules, with special additional info regarding Vietnam tax rules and how they interface, so this is a very concise presentation

Dong Nai Investment Opportunity: 200 Hectare development in Long Thanh District, on Highway No. 1, 10km radius from Bien Hoa, Long Thanh, Amata, Ho Nai. Licensed for service activities: employee housing and services, education, power generation, recycling. Wholly owned and licensed, no resettlement. To be sold as share investment, subdivided, build to suit, long term lease. By Owner, courtesy to brokers.

We, Jun 3 Furniture Industries Panel Discussion and Networking Night Join colleagues from the Furniture and related industries in an informal business networking night with a focus on developing healthy furniture trade between Vietnam and the United States. Panel discussion on key issues, followed by networking cocktail reception.

Park Hyatt Saigon’s Square One Business Set Lunch, Mo-Fr Square One restaurant at Park Hyatt Saigon is offering a Business Set Lunch from 12:00 noon to 2:30pm every weekday (Monday to Friday). Chef Satoru Takeuchi and his team prepare delicacies for a lunch that is guaranteed to offer nutrition, be time-effective and delectable.

We, Jun 10 U Hawaii Executive-MBA in HCMC Information Session Vietnam citizens or foreign nationals living in Vietnam, with an average of 5 to 10 years work experience, are invited to attend a free-of-charge executive information session. Click the link for info and to register by email.

We, Jun 10 Deadline for Alumni/ae Interview Applications: 1st Annual EducationUSA Alumni Conference, which will bring together Vietnamese alumni of regionally accredited U.S. colleges and universities to learn about and celebrate their many achievements, discuss challenges, and create a roadmap for future activities and projects. Participation in the conference is free. Click the link for information and Alumni/ae Interview Applications (June 10 deadline), Distinguished Alumni/ae Award Nominations (July 8 deadline), and Registration (July 15 deadline).

Legend Hotel: “Friday night is free” … when you stay two or more consecutive nights from June 1 – Sep 1, 2009. Your stay with Legend Hotel Saigon just gets better.

Job Vacancy: English Teacher for Axcela Mastery Program open for native-speakers and Vietnamese teachers. The Axcela Mastery Program is a special English skills delivery model that focuses primarily on listening and speaking skills, with supplemental work in reading and writing. It combines the most effective interactive multimedia practice tool ever designed with classroom teaching, which results in learners acquiring English fluency in half the time of conventional programs. Click the link for more info.

Sa-Su, Jun 13-14 New World Hotel Saigon Wedding Fair When it comes to “tying the knot,” the New World Hotel Saigon is the trend-setter with its stunning display of the latest wedding gown collections in Ho Chi Minh City. Entrance to the exhibition is free.

Tu, Jun 16 How to Maximize Your Electronic Bookings – a seminar/workshop especially for hotels. Learn how to maximize room sales via electronic channels. In Vietnam the percentage of online reservations is very low maybe still in the 5-7% range as opposed to the highs of Europe / USA which can be as much as 67%, a very BIG difference. Hotel executives attend this workshop to learn how to increase room sales significantly.

Th, Jun 25 “Saigon Gold” Members Networking Night Fans of fast-moving thrillers, closet authors, and veterans on both sides of the 2nd Indochina War won’t want to miss author Hugh Scott’s presentation of “Saigon Gold.” Scott uses slides of scenes from the novel to illustrate how he weaves his wartime experiences into an intriguing story set in contemporary Vietnam. Click the link for more info and to register for a fun evening.

Th-Sa, Jun 25-27, Jul 30-Aug 1, and Aug 27-29, Advanced Management Program for Business Leaders, delivered by Singapore Management University, sponsored by VinaCapital and in partnership the World Bank’s Global Development Learning Network. The nine-day program aims to equip business leaders and those being groomed for leadership positions within MNCs, as well as local, joint venture and foreign-owned small to medium enterprises with the knowledge and skills to develop their businesses into globally competitive enterprises. Click here for an Applicaiton Form.

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).

July 4th Celebration and Family BBQ

News and Issues Updates

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

Letter from the Chair, AmCham Vietnam (HCMC), May 2009 Perhaps you have noticed that Vietnam seems to be weathering the global economic crisis surprisingly well, when compared to some other countries. Although growth may be slower this year, Vietnam is still growing, and that is a very good thing.

New Vietnam deep-water port opens near Ho Chi Minh City, direct service to the U.S. to begin

New LogiGear Vietnam Facility Opened in Ho Chi Minh City The new 10 story building helps LogiGear consolidate its Vietnam operations, which were spread across 3 buildings in Ho Chi Minh City. The current number of 400 employees will increase to 600 by the end of 2009.

Bosch to help train auto mechanics 200 students will be trained every year. Bosch VN, established in 2007, provides automotove aftersales service, drive and control technology, gasoline systems, power tools, and security systems. Sales in 2008 increased 83 percent to 11 million euros.

Final span of cable-stayed Phu My Bridge in Ho Chi Minh City connected The $ 130 million six-lane bridge will open on Sep 1, 2009, 4 months ahead of schedule. Construction, by a private-sector, international consortium, started in March 2007.

U.S. Cracks Down on Corporate Bribes under the Foreign Corrupt Practices Act Across five continents, at least 120 companies are under investigation up from 100 at the end of 2008. After the passage of the 2002 Sarbanes-Oxley Act, which is intended to hold executives more accountable for their companies’ actions, the Justice Department dusted off the FCPA law as part of the overall crackdown on corporate shenanigans.

Donor nations ask Vietnam to crack down on corruption; however, articles on corruption in the Vietnamese media, which crested around the PMU-18 affair in early 2007, had since dropped to almost nothing as journalists who reported on the case were punished. The government at least to some degree realizes that the press has an important role to play.

Vietnam ready to ratify UN Convention Against Corruption Corruption is rife in Vietnam, from contractors skimming funds off large-scale infrastructure projects to traffic cops extracting money from motorists.

Construction industry set for clean-up of corrupt practices Construction accounts for 10% of Vietnam’s GDP, while losses in the international construction industry due to corruption amount to 15 to 30 percent. Vietnam’s Ministry of Construction is cooperating with the British Department for International Development in a “Construction Sector Transparency Initiative,” from 2008 – 2010.

17 on trial for 2003 electric power meter fraud in HCM City HCM City Power Company paid VND181 billion ($ 12 million) for 312,000 poor-quality electric meters produced by Linkton Vina in 2003, and the case was opened on August 18, 2005. After nearly four years of investigation, the case has finally come to court in May 2009.

Computer virus attacks cost US$ 4.5 million/month in Vietnam 97 per cent of computers in Viet Nam had been attacked by computer viruses at least once, and the main source of infection was sharing use of a universal serial bus (USB) device.

Apparel and footwear materials center opens in Binh Duong province The center consists of a wholesale market covering 11,000 square meters, a 4,500 square meter section of offices and showrooms and an 18,000-square-meter bonded warehouse able to store up to 20,000 tons of goods. Supporting services are available there as well, including banking and customs, and trade promotion activities. It is expected to house hundreds of local and foreign suppliers of textile-garment and footwear materials.

EVN wants to raise electric power loss limit from 8% to 9% The power loss rate last year was 9.8 per cent of the annual supply, or much higher than the annual supply of the 1,200MW Hoa Binh hydropower plant.

Wondrous Seasons of Vietnam – Patricia Wells “The Vietnamese eke complex flavor combinations out of deceptively simple techniques with utterly basic cooking equipment. From modest market stall to upscale dining rooms, flavors were vibrant, refreshing, wholesome.”

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

Le Dang Doanh, VN Institute of Development StudiesTh, May 14 Dr. Le Dang Doanh on Global Economic Crisis and Vietnam Outlook 2009
Dr. Le Dang Doanh, Member of the Board and Senior Research Fellow of the Vietnam Institute of Development Studies, will provide an overview of Vietnam’s current economic outlook and discuss the government’s economic stimulus programs and policies to encourage economic growth. Dr. Doanh is former President of the Central Institute of Economic Management (CIEM).

Fr, May 15 Panel Discussion and Business Networking: Direct Selling Join colleagues from the Direct Selling industry in an informative roundtable discussion of the industry in the Asia-Pacific region in general and Vietnam in particular, followed by business networking night with key industry, government, and media representatives.

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.

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