Weekly Update May 25: YP Palooza, Furniture Roundtable and Networking Night, U.S. Tax Update

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

Dong Nai Investment Opportunity: 200 Hectare development in Long Thanh District, Dong Nai 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. Read more …

Mo-Fr, May 25-29 Australian Food & Wine at New World Hotel Award-winning chef Paul McMahon from Sydney’s famous harbourside restaurant, Catalina. Lunch and Dinner.

We, May 27 AmCham Young Professionals Palooza Party at Vasco’s Come and meet others in Ho Chi Minh City with free food and drink specials. The monthly Young Professionals Palooza Party is a new platform to develop new friendships, networking opportunities and information exchange.

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.

Sa, May 30 Renaissance International School Saigon is now an IB World School. We would like to invite you an IB Presentation at RISS Theater, 74 Nguyen Thi Thap Street, Binh Thuan Ward, District 7, HCMC, on Saturday 30th May 2009, from 9:00 AM to 11:30 AM.

Tu, Jun 2 U.S. and Vietnam Personal Income Taxes: How to Pay and/or Save on Your 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

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.

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.

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.

Su-We, Jun 14-17, 2009 APCAC Washington Doorknock AmChams from the Asia-Pacific Council of American Chambers of Commerce (APCAC) will meet with Executive Branch and Congressional leaders in Washington, DC to advocate on behalf of Americans abroad during APCAC’s annual Washington meeting, known as the APCAC Washington Doorknock. Click the link for more information and Registration Form.

Th, Jun 25 Members Networking Night: “Saigon Gold” Fans of fast-moving thrillers, closet authors, and veterans who fought on both sides of the Second 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.

Effective Cost Management and Cost Control

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
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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.

Report: Survey on Administrative Procedures – Advisory Council on Administrative Reform Legal Committee Chair Fred Burke attended a workshop with the Advisory Council on behalf of AmCham and presented the results of our successful survey of members that identified nearly 300 priority administrative procedures for review and reform.

Vietnam state bank fails to sell 2 trillion dong bonds This is the fourth time the Hanoi-based lender, one of Vietnam’s two policy lending banks, has failed to sell bonds. Vietnam’s State Treasury has also failed to raise much money through bond issues this year, sparking concerns about how Hanoi will fund a budget gap that could widen to 10 percent of gross domestic product.

Concern rises in Vietnam over fiscal deficit The state has unveiled a string of economic stimulus measures that the government says will cost around $ 8 billion. But the economic slowdown has staunched the flow of its main revenue sources, proceeds from crude oil exports and taxes, raising questions about how the shortfall will be met. So far this year Hanoi has sold about $ 236 million in dollar- and dong-denominated bonds, a fraction of the government’s fundraising target of 55.2 trillion dong ($ 3.11 billion).

IBM, Government of Vietnam, and FXA Group join forces to ensure seafood safety (RFID) As part of a pilot project, IBM and FXA will collaborate with several local technology companies in Vietnam to provide a system that will use Radio Frequency Identification (RFID) technology to track Vietnamese seafood exports, a market worth more than US$ 4.25 billion in 2008. The goal of this strategic initiative will allow tracking of the origin of Vietnamese seafood exports and help ensure seafood’s freshness upon its arrival in global markets.

APL starts Vietnam-US West Coast container services on June 4 Previously, Vietnam’s exporters had to rely on small feeder vessels to connect with larger ships to gain access to overseas consumer markets, such as the United States. The first departure of the APL-operated service on June 4 will directly link Vietnam’s exporters to the carrier’s transpacific routes.

Cameron Diaz and SONG Valerie Gregori McKenzie (VOGUE June 2009) On the cover of VOGUE magazine. Big news for a small AmCham fashion company. Cameron makes environmentally sensitive shopping choices quietly and buys carbon offsets with no great fanfare. Her look is entirely eco-chic.

Foreign Business Associations roundtable with VCCI VCCI hosted the first Roundtable Discussion with Foreign Business Associations in Hanoi on May 18, 2009 to discuss cooperation in (1) advocacy vis-a-vis the Government, (2) improving labor / management relations in Vietnam, and (3) cooperating in trade and investment promotion efforts. He proposed semi-annual VCCI/Business Association conferences to cooperate on improving Vietnam’s business environment.

Australian Wine & Food Show, New World Hotel Saigon, May 25-29, 2009 from Sydney’s famous harbourside restaurant, Catalina. Lunch and Dinner.

GES opens backend chip center in Vietnam The centre, with an investment capital of US$ 36 million on a 6,000 -sq.m area, came into operation two years after the corporation received the investment license for its Vietnam project. It is expected to employ about 500.

Viettel launches “Tourist SIM” Travellers can purchase SIM cards for either USD5 or USD10, which can be charged via top-up cards with tariffs for outgoing international calls at VND3,240 per minute (USD 0.18), 10% lower than the charges for international calls of other service.

Forex market strained as demand overtakes dollar supply “This is an abnormal situation.” Deputy SBV Governor Binh said the dong is expected to fall against the dollar by 5-6 percent in 2009. But he added: “The state is fully able to balance foreign currency demands to serve its socioeconomic development, so there is no reason to expect a big devaluation of the dong.” Vietnam’s foreign currency reserves are now at $ 20 billion, enough to cover all trade imbalances, he said. In the first four months of this year, Vietnam posted a trade surplus of $ 2.6 billion.

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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