Weekly Update Oct 1: Members Night, 2012 Compensation Trends, 2012 Consumer Trends

Highlights

AmCham Scholarship Program 2012
Th-Fr, Oct 4-5 Singapore Management University Executive MBA Info Sessions
Th, Oct 4 Members Night and Meet the U.S. Consulate General
We, Oct 10 Morning Briefing: Vietnam Compensation Trends 2012
We, Oct 10 U.S. Export Import Bank Trade Financing for Vietnam (HCMC)
Th, Oct 11 Members Lunch: Vietnam Consumer Trends 2012
Fr, Oct 12 U.S. Export Import Bank Trade Financing for Vietnam (Can Tho)
Tu, Oct 16 Lunch: Managing Upstream Risks – A Vietnamese Law Perspective
We, Oct 24 Workshop: ASEAN Food Security & Agriculture Trade Environment
We, Oct 24 AmCham Palooza Party
Th-Su, Oct 24-28 Hi-Tech Agro and Food Industry Fair HCM City
Stalled Vietnam seaport underscores economic woes, mismanagement (SOEs)
No tax payment grace period on imports for re-export, companies expect hard times
Moody’s downgrades Vietnam’s govt bond rating to B2
Minimum wage adjustment (increase) effective in 2013 spooks many enterprises
China’s apparel exports down, as wages keep rising
Inflation feared to return later in 2012
Tu, Nov 6, U.S. General Elections Day • U.S. Voter Registration Web Sites
Nov 11-17 Infrastructure Trade Mission to Indonesia and Vietnam
Sa, Dec 8 AmCham’s Governors’ Ball • Christmas in San Francisco
Tu Dec 11 Annual General Meeting and Members’ Networking Night

Events, Meetings, Activities, and Special Offers

Welcome to new AmCham companies 69 new companies have joined AmCham in Jan-Sep. 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.

Banner TalentNet Mercer Total Remuneration Survey
Mercer, the leading global provider of human resource services and its associate, Talentnet, will announce the results of its Vietnam Total Remuneration Survey 2012 on Oct 4th and 5th. The seminars will provide essential data about salary increase rates, common allowances and bonuses by industry and level, as well as other information such as employee turnover rates, the most difficult jobs to attract and retain, the compensation mix for each level of staff…..in 2012.

Outside Catering at Renaissance Riverside Hotel Saigon “Call us” to talk about your event and we will kiss your worries away, leaving you to relax and enjoy the party. We deliver an exclusive and personal touch to ensure a memorable experience. Email us at [email protected] or call 3822 0033, ext 2303 to get the best available offers.

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.

Fall 2012 – StudyUSA: Community College Fairs Capstone Vietnam cordially invites you to participate in the Fall 2012 StudyUSA Community College Fairs. The fairs will be held from 15h00 – 18h30 in the following cities: Haiphong (Oct 1), Hanoi (Oct 3), Danang (Oct 5), and Ho Chi Minh City (Oct 7)

Th, Oct 4 (HCMC) Fr, Oct 5 (Hanoi) Singapore Management University Executive MBA Information Sessions The Singapore Management University (SMU) Executive MBA programme has the most senior students’ class profile in the world with the current intake consisting of 68% C-Suite executives, average age 43 years, 20 years rich experiences and from 11 countries. Classes are conducted in 9 weeks over 12 months and held in 4 cities in China, India, the USA and Singapore. Curriculum co-designed by 100 leaders in Asia.

Th, Oct 4 Members Night and Meet the U.S. Consulate General AmCham invites you to attend a Members Night, with networking cocktails and buffet reception. Members’ spouses and guests are not only invited but also encouraged to attend with you. Welcome by AmCham Chairman Christopher Twomey, Consul General An Le, update on U.S. visa procedures, and Economic, Commercial, Agricultural trade and investment promotion..

Oct 5 – Dec 16, 2012, Legend Hotel Saigon’s Weekend Getaway Package The luxury river-front five-star international hotel is offering Weekend Getaway Package from Oct 5 until Dec 16, 2012. Applicable to Vietnamese and expatriates residing in Vietnam for their stay on Friday, Saturday and Sunday night, the package is priced at only VND 2,121,212++ per night for single or double occupancy in a Deluxe Room with several special benefits.

We, Oct 10 Morning Briefing: Vietnam Compensation Trends 2012 Comprehensive information from 371 organizations, 1,381 positions, and 121,306 employees.

Th, Oct 11 Members Lunch: 2012 Vietnam Consumer Trends Join Ralf Matthaes, Regional Managing Director of TNS, for his 8th annual overview of the Vietnam’s consumer and economic landscape.

Tu, Oct 16 Business Lunch: Managing Upstream Risks – A Vietnamese Law Perspective Pham Ba Linh, Senior Associate of Frasers Law Company (Frasers), explores how best to manage upstream project risks while working within the confines of the oil and gas legislation that govern this industry. He will also discuss the proposed changes in the model petroleum production sharing contract.

Th-Fr, Oct 18 – 19 AATCC International Training Program Textile Testing provided by Intertek Vietnam in coordination with ASTM International for textile industry professionals. Garment and textile companies and professionals will get hands-on training and a fundamental education about the proper techniques and methods for conducting the evaluations. The course will focus on updated and most used AATCC and ASTM test methods, which include physical tensile, tear, abrasion, pilling, colorfastness, dimensional change, fiber test methods and appearance.

We, Oct 24 AmCham Palooza Party Monthly networking event at the coolest nightspots in Ho Chi Minh City. A platform to develop new friendships, and information exchange. No admission fee for AmCham Members.

We, Oct 31 Park Hyatt Saigon’s 2 Lam Son Martini Bar is Spellbound This Halloween Halloween is the one night of the year to be out of character and in disguise, where night crawlers celebrate the supernatural, divine and ultra-ghoulish. In honour of this tradition, 2 Lam Son delivers a night of debauchery with specialty libations, a costume contest and other delights for a “spooktacular” good time.

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

Th, Nov 8 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.

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.

Th, Nov 15 Developing the World Class Leader within You Enjoy a fun-filled workshop that will make you think WORLD CLASS, feel WORLD CLASS and act WORLD CLASS. A highly interactive workshop developed and delivered by Dr. Naomal Balasuriya in many countries in Asia, now has come to Vietnam with a “100% satisfaction or money back guarantee” by Profiles International Vietnam.

Su-Sa, Nov 11-17 Infrastructure Trade Mission to Indonesia and Vietnam will focus on the following sectors: Energy, Aviation, Environmental Technology, Architecture-Construction-Engineering.

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.

Sa, Dec 8 AmCham’s 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’ Networking 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

Stalled Vietnam seaport underscores economic woes, mismanagement (SOEs) All that remains of a plan by Vietnam to build a major deep water port is 114 exposed pilings trailing into the South China Sea and a barge full of rusty machinery. Foreign investors stayed away from the $ 3.6 billion project and the indebted state-owned company overseeing it bungled the job. Earlier this month, Sept., 2012, the government accused the company of “financial incompetence” and suspended the project. The prospects for ever reviving it are dim.

Japan keen to increase investment in Vietnam In addition to interests in infrastructure development and energy, small and medium-sized Japanese businesses are particularly eager to invest in support industries.

U.S. Dept of Justice Posts Rare New Material to FCPA Website … rare anti-corruption documents that any bribery history buff will appreciate, and has expanded its archives of FCPA cases, now dating back to 1977, rather than 1998.

Bribery Unsettles Boardrooms, Survey Finds (Wall Street Journal) According to a new survey, one third of board members at public companies cite corruption and bribery as the greatest fraud risk facing their company. Nearly two thirds of those surveyed, or 63%, said they believe their own risk of liability as a director has increased over the past three years.

On Measuring Human Capital: A Case Study of Viet Nam Vocational education can be a viable alternative for people who are unable to attend university. Although rates of return to vocational education at the tertiary level are still lower than those for tertiary general education, even short-term technical training has higher returns than upper-secondary general education.

With no tax payment grace period on imports for re-export, companies anticipate hard times The Ministry of Finance plans to amend the Article No. 42 of the current law, requesting enterprises to make tax payment before the customs clearance time. The regulation would be applied to the enterprises that do the outsourcing for foreign partners (import materials, make products domestically for export), and the enterprises which import products for re-export later.

Korean firms seek credibility, transparency The Korean firms said their request for transparency is motivated by the wish to examine the financial health of their local partners. The Korean firms also wanted tax authorities to notify them in advance of the audit time and give serious consideration to explanations by taxpayers on auditing.

Weather in Vietnam, East Sea and Asia (NW Pacific) Typhoon Jelawat Headed for Tokyo? So is Typhoon JELAWAT. Click the link for details of the typhoon’s projected track. Also, general information about weather in Vietnam.

Moody’s downgrades Vietnam’s govt bond rating to B2, outlook stable The restoration of macroeconomic stability has not adequately offset the vulnerabilities posed by weaknesses in the banking system.

US Eximbank dành 1,5 tỷ USD cho Việt Nam Bên lề Hội nghị Nhóm công tác Hợp tác Hàng không Hoa Kỳ – Việt Nam, diễn ra tại TP.HCM, bà Sarah Kemp, Tham tán thương mại Đại sứ quán Hoa Kỳ tại Việt Nam cho biết, trong thời gian tới, Ngân hàng Xuất nhập khẩu Hoa Kỳ (US Eximbank) sẽ dành hạn mức tín dụng 1,5 tỷ USD để hỗ trợ các dự án hợp tác thương mại giữa Hoa Kỳ với Việt Nam.

U.S.-ASEAN Smart Grid Workshop, Hanoi, Nov 13-14, 2012 to foster U.S. – ASEAN partnerships for state-of-the-art electricity transmission and distribution projects throughout the region.

Minimum wage adjustment (increase) effective in 2013 spooks many enterprises“The government wants to rescue enterprises, but bankruptcies are inevitable. Not to mention, no policies promulgated can meet all interests. Rather, enterprises should rescue themselves.”

China’s apparel exports down “Wages kept rising in the past few years. For example, in our factory, the workers now earn twice what they earned five years ago.”

Greater Mekong Subregion (GMS) 20th Anniversary Celebration Since 1992, the Asian Development Bank has helped to link the economies of six countries in the Greater Mekong Subregion: Vietnam, Laos, Cambodia, Thailand, Myanmar, and two adjacent provinces in China.

President Truong Tan Sang addresses the nation on Vietnam’s National Day “The recent collapse and poor performance of many state-owned enterprises, due to the degradation of political ideology, morality and lifestyle choices of certain groups of cadres, party members and people in the community, requires all of us to take corrective action and hold high the Party Statute and abide by its law.”

AmCham Community Development Fund (ACDF) 2012 – in the news “AmCham Vietnam demonstrates deep humanity through all the projects funded. This is a beautiful act, which is shared with your compassion for the disadvantaged.” Mai Tan Dung, President, Association for the Support of Vietnamese Handicapped and Orphans in Binh Thuan Province.

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

Sep 26 AmCham Palooza Networking Party
Dialogue Meetings on Investment Law, Enterprise Law, Wed, Sep 26
Minimum Wage adjustment (increase) spooks many enterprises
Th, Oct 4 Members’ Night and Meet the U.S. Consulate General
We, Oct 10 Morning Briefing: Vietnam Compensation Trends 2012
AmCham Scholarship 2012
Info Sessions of SMU Executive MBA, Oct 4 (HCMC) and Oct 5 (Hanoi)
Sa, Dec 8 17th Annual Governors’ Ball 2012 • Christmas in San Francisco
New U.S. Consumer Product Testing and Certification Rules (Textiles, Toys & Footwear)
Th, Oct 11 Members Lunch: Vietnam Consumer Trends 2012
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).