Weekly Update Nov 12: Global Antitrust Enforcement, Members Night, Thanksgiving Golf

Highlights

Highlights from the FCPA Resource Guide (Department of Justice • SEC)
CBP Global Entry Trusted Traveler • TSA Pre-Check Security Screening
Candidates for Election to the Board of Governors
Mo, Nov 12 Members Lunch: Global Antitrust Enforcement – More Authorities, Increased Coordination, Higher Stakes
Tu, Nov 13 Members Night and Meet the Candidates
Th, Nov 22 AmCham Thanksgiving Golf Tournament
Sa, Nov 24 Seeking volunteers to interview AmCham Scholarship Candidates
Mo, Dec 3 Vietnam Business Forum
Sa, Dec 8 AmCham Governors’ Ball • Christmas in San Francisco
Tu Dec 11 Annual General Meeting and Members’ Night
Sa, Dec 15 VN and U.S. Professionals Fellowships: Application Deadline
Sa-Fr, Feb 9-15 TET Lunar New Year Holidays • Plan ahead …
VCCI Chairman: Reduce taxes and have a stable wage roadmap
Private sector minimum wage Adjustment for 2013: 15%?
State sector minimum wage increase reduced to 9.5% percent, delayed two months
Vietnam Tech Exports Overtaking Garments; Eases Trade Gap
U.S. Visa Procedures for Business Travel to the USA
No signs of recovery in the real estate sector: the mood is toxic
New AmCham Companies – 2012
Party Secretary Remarks at Closing of Party Central Committee 6th Plenum

Events, Meetings, Activities, and Special Offers

Mo, Nov 12 Members Lunch: Global Antitrust Enforcement – More Authorities, Increased Coordination, Higher Stakes In what is now a truly global marketplace, the potential liability that may arise from unlawful agreements between competitors as to price, markets, and output, is an issue of growing importance to corporations, their managers, and their lawyers.

Tu, Nov 13 Members Night and Meet the Candidates AmCham invites you to attend a Members Night, with informal and fun networking cocktails and buffet reception. Meet the Candidates for election to the Board of Governors for a two-year term, Jan 2013 – Dec 2014. Spouses and invited guests are very welcome and encouraged to attend with you.

Welcome to new AmCham companies 75 new companies have joined AmCham in Jan-Oct. Brief descriptions, activities, representatives’ names, and links to their web sites for additional information.

AmCham Membership Directory 2013 to be printed in January, and delivered after TET. AmCham Members update or provide company profiles to Cindy Tran no later than November 30, 2012. As you plan your marketing activities, be sure to consider this annual publication which is used daily by members and employees at AmCham’s more than 700 member companies, with over 1,400 representatives.

Laguna Lăng Cô introduces All-new Country Club Membership Program Laguna Lang Co is the first and largest fully integrated world-class hospitality development in Vietnam. This unique holiday destination is a world unto itself, comprising the Banyan Tree and Angsana branded hotels and resorts, award-winning spas, a championship golf course, resort residences, convention facilities and an array of recreational offerings.

Regus will help you work your way Regus provides modern, flexible workspace that frees businesses of all sizes, all over the world, to work more effectively. Companies can take a fully-equipped office, desks to use part time, rent a professional meeting room. However they use Regus, they get all the support a business needs.

How can IBM help companies worldwide with our social business solution? IBM Social Media Analytics: Measure the ROI and engagement of the marketing channel “social media;” monitor and engage brand using feeds from facebook and Twitter; track social advertisements, facebook apps, and custom tabs.

Special Fare For AmCham Members from Korean Air Up to 13% discount for all AmCham members on fares to the United States, Korea, Japan and China. Save your traveling costs and enjoy excellent service with Korean Air.

Tu-We, Nov 13-14, U.S.-ASEAN Smart Grid Workshop: Partnering for Regional Power Cooperation for state-of-the-art electricity transmission and distribution projects throughout the region. Highlights regional smart grid projects and initiatives, U.S. smart grid technologies, and the regulatory frameworks, standards, and financing mechanisms available to support them. Participating regional delegates will represent power utilities, national transmission corporations and energy regulators from ASEAN member states.

Fr-Th, Nov 16 – 22 Carnivorous Cuts at Reflections Restaurant The primal satisfaction of fresh meat grilled over live coals is elevated to new heights this November at the Caravelle Hotel. Reflections Restaurant is holding a special US Beef Promotion showcasing cuts of US Black Angus strip loin, US beef tenderloin and US rib eye. Each cut is priced by weight from 150 to 350 grams, and is served with classic steak sauces and a choice of two delicious side dishes.

Fr-Th, Nov 16 – 22 Marvellous Waffles at Caravelle Hotel Lobby Lounge There’s nothing awful about waffles, especially those served by the Caravelle’s chefs this November. Guests in the Lobby Lounge can snack on six types of freshly baked waffles served piping hot from the hotel’s kitchen. Get swept away by the hot-cold sensation of flavors such as warm cherry stew with macadamia ice-cream. Lose yourself to the melt-in-your-mouth goodness of sautéed apples and vanilla bean sauce Anglaise. Or go back to the simple joys of natural icing sugar and maple syrup.

Th, Nov 22 AmCham Thanksgiving Golf Tournament Join this fun golf outing, held annually since 2001 to celebrate Thanksgiving. Enjoy 18 holes of golf and turkey lunch buffet, and nice lucky draw prizes.

Th, Nov 22 Happy Thanksgiving at Riverside Cafe, Renaissance Riverside Hotel Saigon It’s time to offer thanks and gather the family for a special holiday tradition. A time of Turkey, Stuffing and Pumpkin pies to ignite the festive spirit. Celebrate your Thanksgiving with us!

Mo, Dec 3 Vietnam Business Forum AmCham is working to make the VBF more effective at addressing the advocacy needs of our members. For over a decade, AmCham has been a strong supporter of the Vietnam Business Forum, which was financed and managed by the International Finance Corp., a member of the World Bank Group. In February 2012, the IFC officially transferred the coordination function of the VBF Secretariat to a consortium of 14 foreign and Vietnamese business associations, led by AmCham, EuroCham and VCCI. AmCham is working to make the forum more effective at addressing the advocacy needs of our members.

Sa, Dec 8 AmCham Governors’ Ball • Christmas in San Francisco The AmCham Board of Governors cordially invite you to the 17th Annual AmCham Governors’ Ball, to be held on Saturday, December 8, 2012. Tickets are limited, so please make your reservation request early to avoid disappointment. And get ready to enjoy this evening, and do some early Christmas shopping. Click the link for general information and thanks again to our generous 2011 Sponsors.

Tu Dec 11 Annual General Meeting and Members’ Night Annual Report of the Board of Governors and the previous years’ accounts, as well as the election of eight members to the Board of Governors for a two-year term: Jan 2013 – Dec 2014. Networking cocktail reception will follow the meeting. Members and spouses are welcome and encouraged to attend !

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

Ascott expands in Vietnam with new properties in HCMC CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has been awarded a contract to manage a 100-unit serviced residence in HCMC. The new Somerset Vista HCMC is slated to open in December this year. It is part of The Vista, a premier residential development by CapitaLand, Thien Duc Trading Construction Co., Ltd and Phu Gia Investment JSC. Ascott will also manage Vista Residences, a 168-unit property within The Vista that will be available for lease this November.

VCCI Chairman: Reduce corporate income taxes and have a stable wage adjustment roadmap VCCI and key exporting industry associations have proposed an immediate reduction of corporate income tax to 20%, and a private sector minimum wage adjustment roadmap of 15% per year during the next three years. Around 100,000 businesses are forecast to close between 2011 and 2012. The figure is equal to half of the figures over the entire past two decades since Vietnam adopted the Law on Enterprises.

Private Sector Minimum Wage Adjustment for 2013: 15%? VCCI and key export industry associations proposed 15% private sector minimum wage adjustment annually 2013 – 2015. MOLISA Vice Minister met in HCM City Aug 23 with companies and business associations, employees’ representatives, local authorities, for a full discussion before announcing the decision “in October.” No decision has yet been announced.

State sector minimum wage increase reduced from 24% to 9.5% percent, delayed two months State sector minimum wage will be increased from the current VND1.05 million/month to VND1.15 million (9.5% increase), instead of VND1.3 million (23.8% increase) as originally planned. In addition, it will be effective from July 1, 2013 instead of May 1 as planned earlier.

Vietnam Tech Exports Overtaking Garments Eases Trade Gap Shipments of mobile phones and other electronics from Vietnam surged 91 percent in the first 10 months of the year to $ 16 billion, making them the biggest source of export revenue. Vietnam’s shipments of electrical machinery, a category that includes modems, telephones and wiring sets, to the U.S. climbed 58 percent in the first eight months of the year. China’s sales to the U.S. in the category rose 11 percent, Malaysia’s grew 4 percent, Thailand’s slid 5 percent and Indonesia’s fell 16 percent in the period.

Fight against corruption one of the “main struggles” of our time: U.S. Department of Justice “Corruption is the ‘abuse of entrusted power for personal gain.’ Corruption corrodes the public trust in countries rich and poor and has particularly negative effects on emerging economies. When a developing country’s public officials routinely abuse their power for personal gain, its people suffer. At a concrete level, roads are not built, schools lie in ruin and basic public services go unprovided. At a more abstract, but equally important, level, political institutions lose legitimacy, and people lose hope that they will ever be able to improve their lot.”

Vietnamese women who make their living in Malaysia Leaving husbands and children at home, women go to Malaysia to work and send money back home for their families. Many of them have not returned to see their families for ten years. Around 65,000 Vietnamese workers work in over 350 electronic, apparel, gloves, healthcare, manufacturing, civil engineering, and wood processing enterprises.

Gender imbalance threatens crisis in Vietnam: no wives for millions of Vietnamese men The General Office for Population Family Planning said the birth ratio of boys to girls in Viet Nam was forecast to climb to 125/100 by 2020 unless urgent measures were taken.

Airlines get ready for TET Lunar New Year rush Vietnam Airlines began selling TET tickets on November 1. The tickets are for travel between January 25 and March 2, 2013. TET holidays in Vietnam are Feb 9 – 15 (Sat-Fri).

Vietnam and U.S. Professionals Exchange Program: Economic Empowerment in Public Private Partnerships Intensive short-term fellowships for Vietnamese to visit the USA and broaden their professional expertise.

Business Travel to the USA and U.S. Visa Procedures Presentation by Nonimmigrant Visa Section Chief John Gregg, in response to requests by a number of AmCham companies, details on U.S. visitor visa application procedures, visa renewal procedures, and procedures for group visits (incentive tours, etc.).

Closing of the 6th Plenum of the Party Central Committee, XI Closing remarks by Party Secretary, Important Decisions Made, Comments by a Number of Politburo Members. The whole Politburo agreed to propose that the Central Committee impose a form of discipline on it, and consider disciplining a Politburo member. The Committee discussed carefully and considered comprehensively all aspects at the current time and then decided to not take any discipline on the Politburo and one of its members. It asked the Politburo to apply active measures to repair shortcomings.

Vietnam’s Economic Outlook (Update), Oct 3, 2012 (ADB) “The historic tendency for stop-start policy should be avoided. The focus needs to remain on structural reforms” said Tomoyuki Kimura, ADB Country Director for Vietnam. “A government commitment to a credible reform roadmap with time-bound actions should revive lending and improve market confidence.”

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

AmCham Scholarship 2012 – Seeking volunteer interviewers for AmCham Scholarship candidates
Korean firms seek credibility, transparency
No signs of recovery in the real estate sector: the mood is toxic
17th Annual Governors’ Ball • Christmas in San Francisco, Sa, Dec 8
Tu, Nov 13 Members’ Night and “Meet the Candidates”
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 about 1,000 representatives of nearly 500 AmCham companies, plus about 3,000 subscribers in Vietnam, Singapore, Japan, and the USA. We welcome event announcements that are of interest to our business readers.

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Keep up-to-date about U.S.-Vietnam trade and investment with Weekly Updates (Past Issues).