Weekly Update May 7: Consumer Protection Law, TV Advertising in VN, International Product Safety

Highlights

Tu, May 8 Legal Committee Meeting
We, May 9 Morning Briefing: Law on Consumer Protection
We, May 16 TV Advertising in Vietnam: Learn from the Best, Worst and Mediocre
Th, May 17 International Product Safety and Environmental Compliance Conference
Fr, May 18 TPP (Trans-Pacific Partnership) Workshop
Th, May 24 AmCham Members’ Night & Meet the U.S. Consulate General
Fr, May 25 Business Lunch: Future of Medical and Cancer Care
We, May 30 AmCham Palooza Party
Vietnam to Cut Corp. Income Taxes, Cap Loan Rates to Bolster Economy
Vietnam’s drive to fix its weak banks could be stalling
HCM City & S. Key Economic Region Infrastructure: Ports, Industrial Parks (update)
Welcome to new AmCham companies • Jan ~ May 2012
Advance Notice: Sep – Dec AmCham Scholarship 2012
Tu, Nov 6, U.S. General Elections Day • U.S. Voter Registration Web Sites

Events, Meetings, Activities, and Special Offers

Welcome to new AmCham companies 25 new companies have joined AmCham in Jan-Apr. Brief descriptions, activities, representatives’ names, and links to their web sites for additional information.

AmCham Vietnam Direct Selling Committee – About Us Misson Statement: “To protect, serve and promote the effectiveness of member companies and the independent business people they represent. To ensure that the marketing by member companies of products and/or the direct sales opportunity is conducted with the highest level of business ethics and service to consumers.” Direct Selling companies achieved revenues in Vietnam of over $ 133 million, with over 900,000 persons participating in the industry.

Apr 6 – Jun 3, Legend Hotel Saigon’s Weekend Getaway Package Ho Chi Minh City’s luxury river-front five-star international hotel is once again offering to Vietnamese and expatriates residing in Vietnam our Weekend Getaway Package. Applicable for your stay on Friday, Saturday, Sunday and holiday nights from 6 April until 3 June 2012, the package is priced at only VND 2,012,000++ per night for single or double occupancy in a Deluxe Room with several special benefits.

Food & Beverage Highlights in May at Sheraton Saigon Hotel & Towers Celebrate Mother’s Day May 13 with a Moët & Chandon Champagne Brunch at Saigon Café. Every Thursday is Girls’ Night Out @ Nightspot. You can also “Wine Down” while overlooking the city at the Sheraton Saigon Wine Bar, Level 23 with a selection from 20 world-famous wine cellars. And the Li Bai Chinese Restaurant offers a supreme Cantonese buffet on Friday nights; Sundays at Li Bai are for Dim Sum lovers—buffet with over 50 Dim Sum favorites.

Mo-Su, May 7 – 20 Freshly Minted Mojito Menu at Lobby Lounge The hotel’s award-winning bartenders at the Lobby Lounge are mixing selected mojitos prepared from original Havana recipes. Visitors and guests can sip on a flow of Hemingway’s favorite cocktail paired with sweet and savory treats from either the Traditional English or Vietnamese Specialty high tea menus.

We, May 9 Business Lunch: Law on Protection of Consumer Rights Overview of Vietnam’s new consumer protection law and focus on its implications for: standard form contracts and standard terms and conditions, the protection of personal data and information, product liability issues in the context of the new law, and more.

Su, May 13 Celebrate Mom’s Day at Restaurant Nineteen Hard-working moms and their families are invited to relax with a sumptuous meal together at one of the city’s favorite buffet restaurants this Mothers’ Day. Nine action stations will plate up fresh and cooked-to-order seafood, premium grilled and roasted meat dishes, and a wide selection of western and Asian specialties.

Su, May 13 Mother’s Day at Legend Hotel Saigon Whether you are honoring a Mother, Grandmother, favorite Aunt or special friend – Mother’s Day with Legend Hotel Saigon honors you. Show the special mothers in your life how much they mean to you with Saigon’s most spectacular international buffet. A special gift will be prepared for every mother.

Sa-Su, May 12-13 Happy Mother’s Day at New World Saigon Hotel Take her out…and enjoy a delicious brunch buffet or set lunch menu at one of our restaurants.

We, May 16 TV Advertising in Vietnam – Learn from the Best, the Worst and the Mediocre Cimigo has tested over 275 TV advertisements over the past two years, and will tell you what works, what does not. Learn how to make your advertising more effective, across different target groups and categories.

May 15 (HCMC), May 17 (Hanoi) IBM Technology Conference and Expo 2012 Join us at the most anticipated technology event as we introduce the world’s first family of Expert Integrated Systems. Experience a day of breakthrough ideas, innovative answers, technology exhibits, expert panel discussions and great networking opportunities only at the largest exhibition of IBM and business partner solutions.

Th, May 17 International Product Safety and Environmental Compliance Conference and Fr, May 18 TPP (Trans-Pacific Partnership) Workshop Organized by AAFA • American Apparel & Footwear Association, whose member companies represent 80% of the U.S. wholesale business in apparel and footwear. In 2010, U.S. consumers spent nearly $ 340 billion on new clothes and shoes, which accounts for about 25% of the world’s overall apparel and footwear retail sales. More than 80% of all footwear sold in the United States is now imported from China, and China accounts for about 40% of U.S. apparel imports. AAFA members have strongly encouraged AAFA to bring this important conference and workshop to Vietnam to provide necessary and important information to stakeholders in Vietnam.

Fr, May 25 Business Lunch: Future of Medical and Cancer Care Update about the risks, prevention, and latest treatment of cancer in the global perspective. Stanford International Medical Services and Stanford University in Palo Alto, California offer options and guidance for those seeking advanced examination, prevention and treatment.

Fr, May 25 Scar of Life 3: Heart of Glass Annual gala that brings together the celebrity worlds of entertainment, fashion and business for a good cause: to save the lives of poor Vietnamese children suffering from congenital heart defects. Tickets are available at Moevenpick Hotel Saigon.

Fr, May 25 Seminar on Key Advantages of an IB World School Education organized by ACG International School. Join us to hear about the unique features, effectiveness of an IB World School education and its benefits to young people.

Advance Notice: Sep – Nov AmCham Scholarship 2012 AmCham will grant scholarships to up to 45 top students from universities in HCM City.

Tu, Nov 6, U.S. General Elections Day • U.S. Voter Registration Web Sites More than 6 million Americans live overseas. If the overseas American community were a state, we would be the 18th most-populous state in the union. Our votes count … click the link to register online, get a ballot, and vote.

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

Park Hyatt Saigon Welcomes Two New Culinary Additions – Square One Chef de Cuisine and Pastry Chef Soren Lascelles has been appointed the new Chef de Cuisine in Square One, and Bertrand Sommereux, the new Pastry Chef to oversee the Pastry Kitchen.

Local students take part in Community Service and Leadership Training Conference Over 300 students, teachers and community leaders from schools all over HCM City gathered to share ideas and work together to explore problems we face as global citizens, as part of the International School Ho Chi Minh City (ISHCMC) Global Issues Network’s 1st Annual Conference. The theme of the conference was “Using our differences to make a difference.”

Global Machine Tool Big Wigs Confirm Participation in MTA VIETNAM 2012, July 3-6 MTA VIETNAM 2012, the premier international trade event for Vietnam’s manufacturing industry, will be back at the Saigon Exhibition & Convention Center (SECC) in Ho Chi Minh City. The event will showcase the latest technologies, products and solutions in precision engineering, machine tools and metalworking available in the global marketplace.

Vietnam to Cut Corp. Income Taxes, Cap Loan Rates to Bolster Economy “This shows a consensus in the government on the need to give immediate help to save businesses. More ‘fundamental’ policy changes are also required to reduce uncertainty about the economy,” said the director of research at the Fulbright Economics Teaching Program in HCM City.

Vietnam’s drive to fix its weak banks could be stalling Meaningful bank restructuring “is essential to creating a strong banking system to meet the needs of a growing economy and to catapult Vietnam into middle income status,” said the IMF’s representative in Vietnam. He added, it’s “a little early to say” if Vietnam will make necessary changes. “The system has a bias toward growth that is a risk and the government needs to be careful. It needs to stand firm and show political will to sort out the banking problems.”

Bitexco to build US$ 500 mil twin towers in HCM City The complex will include two towers, a trade centre, offices, and apartments for rent, and a six-star Ritz Carlton hotel.

Japan’s Suzuki Motor Corp. ground-breaking for a $ 13 million auto factory in Dong Nai (FDI) The plant is slated to turn out 5,000 cars in the first year of operations, with production to start in March 2013.

Vietnam’s economic indicators – April 26, 2012 Currency/Interest Rates, GDP y/y, Consumer Price Index, Trade Account, Index of Industrial Production, Forecasts (Govt, World Bank, ADB, IMF): GDP, CPI, Money and Credit, Exports/Imports/Trade Balance/Current Account Balance, Overseas Remittances, Foreign Currency Reserves (wks of imports, $ billion), Foreign Debt, Foreign Debt/GDP, FDI Inflows, Foreign Portfolio Investments, Population, Long Term Currency Ratings (S&P, Fitch, Moody’s)

ADB: Asian Development Outlook 2012 – Vietnam Outlook Safeguarding the banking sector should be the immediate priority. The longer-term requirement is to develop a diversified and efficient financial system that can mobilize the funding to meet the 7-8 percent economic growth target. These complex reforms, which will take years to complete, would benefit from coordination with the proposed restructuring of SOEs.

China + One = Vietnam and ASEAN ASEAN has the third-largest economy in Asia, after Japan and China. U.S. foreign direct investment (FDI) into ASEAN totaled $130 billion in 2007, the largest destination for U.S. FDI in Asia, and has grown 55% since 2004. As a developing region, ASEAN per capita income is low but its GDP is rapidly growing: an almost 170% increase over the past decade.

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

Last week’s most popular links to events and articles

Bitexco to build US$ 500 mil twin towers in HCM City
Port Tour: Cat Lai and Cai Mep Ports
We, May 16 TV Advertising in Vietnam
Welcome to new AmCham companies • Jan ~ May 2012
Th, May 24 Members Night and Meet the U.S. Consulate General
The new tendency in Japanese FDI in Vietnam
We, May 9 Morning Briefing: Legal Update on Consumer Protection Law
Japan’s Suzuki Motor Corp. ground-breaking for a $ 13 million auto factory in Dong Nai (FDI)
Fr, May 18 AAFA: TPP (Trans-Pacific Partnership) Workshop
Tu, May 8 Legal & VBF Liaison Committee Meeting
Other popular information downloads

Recent Events and Information Resources

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.

Online Membership Directory Looking for information on AmCham companies? Click here to browse the Online Membership Directory for information about and contact points for nearly 500 AmCham companies, and over 1,000 representatives. Members can contact other members by email via the AmCham web site. Also, links to company web sites for even more information about AmCham companies in Ho Chi Minh City.

Benefits and Services Review AmCham benefits and services and learn how you can benefit from Networking Online, with over 250,000+ visitors and 350,000+ 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 1,000 representatives of nearly 500 AmCham companies, plus over 5,000 subscribers in Vietnam, Singapore, Japan, and the USA. We welcome event announcements that are of interest to our business readers.

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