Keep up-to-date about U.S.-Vietnam trade and investment with Weekly Updates.
Upcoming Events and Activities
Plan ahead. Click here to see all upcoming Events and Committee Meetings
Mo, Mar 09-Su, Mar 15 Caravelle chef Timo offers Reflections favorites in tasting portions. You can have it all on the Amuse Bouche menu, from appetizers to desserts. Instead of regular portions, the chef will produce tasting portions of his favorite dishes on the menu so that diners might experience greater breadth in a single sitting.
We, Mar 11 Business Networking Night: Logistics and Supply Chain Management. Join colleagues from the Logistics/Supply Chain Management Industry in an informal business networking night.
Mo, Mar 16 Transparency and the Right to Meaningful Comment on Laws and Regulations In the U.S.-Vietnam BTA (Chap. VI), Vietnam agreed to publish all laws, regulations and administrative procedures pertaining to trade and investment so that governmental agencies, enterprises and persons engaged in commercial activity may become acquainted with them before they come into effect and to apply them in accordance with their terms (para 1). In addition, Vietnam agreed to allow an opportunity to comment on the formulation of laws, regulations and administrative procedures that may affect the conduct of business activities involved with trade and investment (para 3). How does this work in practice? Click the link for details and to register online.
Mar 19-21 APCAC Conference 2009: The Future of U.S.-Asia Relations: A Blueprint for the New Administration. Organized by AmCham Singapore for the Asia-Pacific Council of American Chambers of Commerce. Around 350 business leaders from Singapore, the U.S. and around the region will address issues of common interests and it will be an excellent opportunity for participants to network, pick up business insights, and play a role in the shaping of the future of U.S-Asia relations.
Th, Mar 26 Panel Discussion: Managing the Employment Relationship in a Downturn.Unwanted staff adjustments and retrenchments are inevitable in the current economic downturn. Therefore, it is essential that managers understand the practical and legal ramifications of such personnel changes and adopt effective policies for managing the employment relationship in today’s economic climate.
We, Apr 1 Business Networking Night: Information Technology. Join colleagues from the Information Technology Industry in an informal business networking night.
Member Survey 2009 Participate in a short online, multiple-choice survey about AmCham activities and benefits. It will take only about six or seven minutes to complete. Click the link to take this short online survey and help us improve our member service.
Factory for sale Located approximately 5 Km (15 minutes) from the center of Ho Chi Minh City in the Tan Thuan Export Processing Zone (TTZ), a duty-free EPZ, centrally located, well maintained with good infrastructure, and with independent power supply from the Hiep Phuoc Power Plant, the same owners of the TTZ. Click the link for more details and contact information.
Expand your Asia/Pacific business knowledge, contacts, and profits. If you’re doing business in the Asia/Pacific region, the Apr 6-7 Asia/Pacific Business Outlook is the one conference you can’t afford to miss. Business leaders and U.S. Senior Commercial Officers from across the region meet you at USC’s Marshall School of Business in Los Angeles.
Apr 22-24 Asia Society Corporate Conference in Ho Chi Minh City How is the Asia-Pacific region addressing the challenges of the financial crisis and how will Vietnam weather the impact of the current global economic dislocation? Join government leaders, key decision-makers and industry experts from the international business community to discuss the impact of the global financial crisis on Asian economies, especially Vietnam.
We, May 7 Business Networking Night: Real Estate and Construction. Join colleagues from the Real Estate, and Construction industries in an informal business networking night with a focus on Real Estate Development Projects in the Ho Chi Minh City area.
VILAF–Hong Duc received the Internation Arch of Europe (IAE) Award for Quality and Excellence – Gold Category at a February 2009 ceremony in Frankfurt, Germany. The Award is presented to companies and organizations in different countries throughout the world that further their reputation and position by implementing and promoting quality and excellence.
The annual print version of our Membership Directory 2009 will be delivered to members in early March. In the meantime, please visit our Online Membership Directory, which you can search by company name or by industry sector. If you need to update your company information or personal information at any time during the year. Please send us an email.
News and Issues Updates
Click this link to read News Highlights: Business, Trade, and Investment in Vietnam and Asia.
Services sector to be new growth engine for Vietnam The services sector in Vietnam is underdeveloped and uncompetitive. The realization that the services sector is as important, if not more important than the manufacturing and agriculture sector will focus attention to the development of the services sector and the industries within it. The service sector must emerge as the new pillar of growth for Vietnam, led by the four key services industries of information and communication technologies, education, business services and tourism.
Vietnam’s migrant workers return home as downturn bites An estimated 500,000 workers lost their jobs last year, and the government reckons a further 400,000 may be laid off in 2009. Experts say migrant workers have returned to living in rural Vietnam rather than stay in urban centres Ho Chi Minh City or Hanoi, because the cities are too expensive and jobs are disappearing.
Vietnam may subsidize apparel exports Vietnam’s textile industry is targeting exports of $ 10.5 billion this year compared with $ 9.1 billion in 2008, even as orders decline, according to a government statement last month. If the planned subsidy were paid on that figure, it would total about 420 billion dong (about $ 23.5 million at 1USD=17,818vnd)
Vietnam to issue $ 1 billion govt bonds in 2009 The government has said economic woes and lower crude oil prices could cut 90 trillion dong ($ 5.3 billion) from Vietnam’s government income this year, forcing plans to raise 55 trillion dong from bond sales to bridge the shortfall.
Vietnam Airlines to borrow $ 400 million from BIDV for expansion in 2009 – 2011 BIDV formed an aircraft leasing venture, VALC, with Vietnam Airlines and three other domestic companies in September 2007. In December that year VALC signed a contract to buy 10 Airbus A321 aircraft.
Standard Chartered to open first Vietnam bank by mid-year Standard Chartered, which holds 15 percent of Asia Commercial Bank, is set to link its service to the Vietnamese partner’s network next week to allow customers to use Asia Commercial’ 300 automated teller machines in the country.
HSBC: Vietnam’s stock market not likely to bounce back soon The EPS of Vietnam’s stock market will not increase this year, but may increase by 10% in 2010. With the given predictions, the P/E index of the next 12 months would be 9.5, the lowest ever level of the VN Index. Venturous investors could buy shares of good listed companies with the hope of gaining profit in the long term, but Vietnam’s stock market will still see difficulties this year.
U.S. jobless rate tops 8%, highest in 26 years The U.S. unemployment rate surged last month to its highest level since 1983, and the toll seems set to go higher as employers batten down for a sustained drop in consumer demand. “We’ll be at 10% unemployment by year end,” said Joseph LaVorgna, chief U.S. economist at Deutsche Bank.
U.S. Stock Market: When will the bull return? One outcome is drawn from the narrow history of bear markets that grew out of financial crises. In it, the bear scenario continues to play out until the bull takes over, with more debt busts and government trial and error until things get set right again. That could mean two more years of bouncing around and then another six or so before the Dow is back above 14,000. Not long ago, such an outcome would have seemed unimaginably bleak. Given the other possibilities, it doesn’t seem so bad now.
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.
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.
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.
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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Keep up-to-date about U.S.-Vietnam trade and investment with Weekly Updates.