Weekly Update Oct 8: Trade Finance, Compensation Trends, Consumer Trends

Highlights

Tu, Oct 9 Legal & VBF Liaison Committee Meeting
We, Oct 10 Morning Briefing: Vietnam Compensation Trends 2012
We, Oct 10 U.S. Ex-Im Bank Trade Financing (Bankers’ Session)
We, Oct 10 U.S. Ex-Im Bank Trade Financing (General Session)
Th, Oct 11 Members Lunch: Vietnam Consumer Trends 2012
Fr, Oct 12 U.S. Ex-Im Bank Trade Financing for Vietnam (Can Tho)
Tu, Oct 16 Lunch: Managing Upstream Risks: Vietnamese Legal Perspective
We, Oct 24 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
AmCham’s International Coastal Cleanup in the News
Vietnam’s Economic Development Outlook Update, Oct 3, 2012 (ADB)
Stalled Vietnam seaport underscores economic woes, mismanagement (SOEs)
No tax payment grace period on imports for re-export, companies expect hard times
Tu, Nov 6, U.S. General Elections Day • U.S. Voter Registration Web Sites
Nov 11-17 Infrastructure Trade Mission: HCM City, Hanoi, Jakarta
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 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.

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.

Crescent Residence • Apartments for Lease Situated in Phu My Hung, District 7, Crescent Residence is an iconic development offering a new lifestyle experience in Vietnam. Forming part of the curved lake Esplanade of the Crescent, these serviced apartments are already home to many singles, couples and families enjoying the convenient, safe, and peaceful surroundings. Make Crescent Residence your home away from home.

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.

Opera Tempts You with Terrace Tapas and Peroni Beers at Park Hyatt Saigon Eat, drink, and share at Opera’s new dining concept, “Terrace Tapas and Peroni Beers”. Located at Park Hyatt Saigon, this premier alfresco dining venue offers colourful Mediterranean tapas incorporating vibrant flavour combinations, seasonal ingredients and great value.

Mo-Su, Oct 8 – 21 Truffles & Bubbles at Lobby Lounge Let the magic of chocolate and champagne work its charm on you. The Caravelle’s Lobby Lounge is offering three types of freshly hand rolled chocolate truffles with a flute of Taitingger Champagne from October 8 to 21. Sweettooths can choose between soft flavoured milk chocolate truffles, sweet bitter dark chocolate truffles and white velvet chocolate truffles.

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

We, Oct 10 U.S. Ex-Im Trade Financing for Vietnam (Bankers’ Session) The U.S Embassy/Consulate General in Vietnam and the AmCham are jointly organizing seminars on Trade Financing. Ex-Im Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance, and financing to help buyers in Vietnam purchase U.S. goods and services.

We, Oct 10 U.S. Ex-Im Trade Financing for Vietnam (General Session) Trade financing has been widely used in many business transactions by Vietnamese and foreign traders. However, many Vietnamese buyers and U.S exporters be not fully aware of trade financing programs that may help them overcome financial constraints and manage risks.

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.

Th, Oct 11 Bodegas Lan Wine Dinner at Reflections Restaurant An evening with some of Spain’s most distinguished vintages is set for October 11 at the Caravelle’s atmospheric fine-dining restaurant, Reflections. Mr. Ronald Otto will represent the Bodegas Lan winery during a five-course prix fixe dinner, beginning with a welcome prosecco and canapes at 6:30 pm. Standout vintages from the legendary Rioja valley will be paired with a Spanish-inspired menu from the hotel’s chef. For the fourth course, diners will enjoy an award-winning Culmen Reserva 2005 served with lamb shank and truffle ballottine, lamb broth couscous and tomato sauce, to be followed by cream Catalane and galletas Murcianas for dessert.

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.

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 HCM City, Hanoi, and Jakarta 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

Former Director of the Myanmar Supreme Court joins VDB Loi Mr. Myo Nyunt, advocate to the Supreme Court, has joined VDB Loi Myanmar as a Senior Counsel, effective 18 September 2012. Mr. Myo Nyunt is one of Myanmar’s most distinguished senior lawyers, formerly serving as Director of the Union of Myanmar Supreme Court, and as an Appellate Judge. He is currently advocate to the Supreme Court and a widely recognized specialist in commercial matters. Mr. Myo Nyunt is a member of the Bar Council, member of the Myanmar Law Reports Council. He holds a bachelor degree, Registered Lawyer (R.L) and a diploma in business law.

Vietnam’s Economic Development 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.”

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.

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.”

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.

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

We, Oct 10 Morning Briefing: Vietnam Compensation Trends 2012
Members Night and Meet the U.S. Consulate General
AmCham Scholarship 2012
Minimum Wage adjustment (increase) spooks many enterprises
Info Sessions of SMU Executive MBA, Oct 4 (HCMC) and Oct 5 (Hanoi)
Stalled Vietnam seaport underscores economic woes, mismanagement (SOEs)
U.S. Ex-Im Bank Trade Financing for Vietnam (Bankers Session)
Managing Upstream Risks: A Vietnamese Legal Perspective
Other popular information downloads
“Hello, Vietnam,” – Pham Quynh Anh

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).