Weekly Update Sep 22: Foreign Corrupt Practices Act, AmCham Palooza, AmCham Scholarship

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

Weather in Vietnam and Western Pacific: satellite photos, typhoon forecasts, etc. Aug-Sep-Oct are the main months of the “West Pacific Typhoon Season.” Click the link for an update. Tropical storm forecast to pass S of Hong Kong We, Sep 24 as a Cat 2 or 3 typhoon (winds to 95-100 knots) and N of Hanoi by Fr, Sep 26 as a Tropical Storm (winds to 55 knots) or as a Tropical Depression (20 knots). Storm tracks can and do change.

Upcoming Events and Activities (next few weeks)

Plan ahead. Click here to see all upcoming Events and Committee Meetings

U.S. Citizens: Register to Vote at the Official U.S. Govt Web Site for Overseas Voters: Online Voter Registration and Ballot Delivery. New system simplifies and accelerates voter registration and request for absentee ballot. As of Tue, Sep 09, there are 56 days (8 weeks) remaining until the U.S. Election Day on Nov 4.

Local residents/expats: experience AN EXCLUSIVE 3-NIGHT VACATION PACKAGE at the award-winning Nam Hai Bask in the sun, swim in glorious pools, relax at the spa and indulge in a renowned chef’s culinary masterpieces, starting at just $ 1,000++. This limited offer includes complimentary breakfast for two, airport transfers for two, and your choice of a $ 100 Food & Beverage credit or a 60-minute deluxe spa treatment. Click the link for info and to make reservation. Your ultimate escape awaits …

Tu, Sep 23: Foreign Corrupt Practices Act (FCPA): What you need to know The FCPA is a major enforcement priority for regulators (Department of Justice, Securities and Exchange Commission), and a major compliance issue for managers of U.S. companies with overseas operations. You need to be more familiar with the FCPA and the consequences of violations, which include fines and prison time.

Th, Sep 25: AmCham Palooza Networking Party We hold networking events and happy hours every month (and sometimes more often) in order to increase communication amongst young AmCham members, expats, and Vietnamese business people.

Fr, Sep 27: AmCham Scholarship Program 2008 Information Session In partnership with Vietnam National University – Ho Chi Minh City, AmCham will grant scholarships to top students after a three-step selection process. More than 1,000 application forms have been downloaded from the AmCham web site. In addition to the scholarship, the process introduces students to AmCham member firms and prepares them for the world of work after university. Click the link for more information.

Tu, Oct 7: 2008 U.S. Higher Education Fair, organized by Institute of International Education High school and university students, and their parents, meet with U.S. accredited colleges and universities to learn more about opportunities to study in the United States of America.

We, Oct 15: Members Lunch: Consumer Spending Trends in Vietnam Since 1998, TNS Vietnam has been tracking the lifestyle trends of Vietnam. The 2008 TNS VietCycle – Vietnam’s Lifestyle Monitor – will cover the latest hot topics in Vietnam such as consumer reaction towards inflation and its impact on shopping and spending, daily activities and how these are changing with Vietnam’s ever increasing internet penetration, the impact and usage of the stock market and financial institutions, and how Vietnam’s recent economic turmoil has influenced consumers’ outlook and behavior.

We, Nov 19: Members Lunch: VN-US Educational Exchange and Vietnam’s Economic Development Dr. Mark A. Ashwill, country director of the Institute of International Education-Vietnam, will discuss recent trends as Vietnam ascends to the top 10 countries sending students to the U.S., and what this means for Vietnam’s development, including the job market. He will also talk about ways in which companies can raise their profile through corporate sponsorship and in-country scholarship programs.

Sa, Dec 6: AmCham Governors Ball: SAVE THE DATE A formal event held in the festive style of the season, to raise funds for community support programs funded by and through the AmCham-United Way partnership.

All upcoming events …

News and Issues Updates

Vietnam needs a slow 2009 growth rate to lay a good foundation for robust 2010-2011 growth Vietnam’s Government has been giving priority to curbing inflation over stimulating growth, in order to bring it to single-digit levels, but as price pressures are projected to ease, along with a slowdown in growth and a narrower trade deficit, the Government may be tempted to loosen its fiscal and monetary policies and boost public investment in an effort to spur the economic growth rate again. Better to accept a low growth rate in 2009 to lay a good foundation for stronger growth to renew in 2010-2011.

Marriott International to Introduce its Luxury JW Marriott Brand to Vietnam at Danang The JW Marriott Danang Resort will be an integral part of a mixed-use development which will also include residential villas and a Greg Norman-designed golf course. Future phases will include additional residential units, a convention/exhibition center, retail stores and two mid-tier hotels.

Standard & Poor’s launches S&P Vietnam 10 Index to provide global investors with tradable exposure to the largest and most liquid companies in Vietnam. The S&P Vietnam 10 Index comprises 10 leading Vietnamese companies that meet size, liquidity, tradability and foreign ownership requirements.

Vietnam to monitor hot apparel exports to US in order to prevent an excess of Vietnamese exports from landing in the US market, which could trigger major price drops and ultimately harm the industry.

U.S. State Department Deputy Secretary Negroponte lauds “close partnership” Mr Negroponte’s schedule included a meeting with Mr Dung on Thursday, and meetings with the ministers for education, defence, and foreign affairs. He visited Ho Chi Minh City (formerly Saigon) to meet business leaders on Saturday before going on to Cambodia.

U.S., Other Nations Step Up Battle Against Corrupt Payments More recently, working ties between prosecutors in different nations have been expanding. In a meeting in Paris, antibribery prosecutors from several countries gathered for the first time in an informal, roll-up-your-sleeves meeting on cooperation.

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

Event Presentations, Downloads, and PHOTO ALBUMS

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.

AmCham Labor Day Weekend Palooza Party, 59 photos.

Members Breakfast with Congressional Delegation, 60 photos.

Online Membership Directory Looking for information on AmCham members? Click here to browse the Online Membership Directory for information about and contact points for our 400 member and associate companies, and about 800 representatives. Also with links to their 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.

Your announcement in AmCham’s Weekly Update email Early each week, AmCham’s Weekly Update email goes out to nearly 800 representatives of over 400 AmCham member and associate companies, plus thousands of subscribers in Vietnam, Singapore, Japan, and the USA. We welcome event announcements that are of interest to our business readers.

Computing Tips from the AmCham Webmaster

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Computing Tips: Business Tips for Late Facebook Arrivals Choose your friends and photos carefully on social-networking sites, but by all means get on Facebook. Here are some basic lessons learned. 18 Aug 2009

Computing Tips: Facebook No. 1 Globally with 132 million users The site is the top global social network, nearly 63% of users are outside North America. The site had been translated into 20 languages including French, Spanish, and Mandarin, recently added 69 more. “Now, through translations, we are seeing a lot of growth in international countries,” says Javier Olivan, international manager at Facebook in a recent interview. 18 Aug 2008

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