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TET Lunar New Year, FCPA: Hypothetical Examples, Labour Code Draft Decrees

The delegation will seek meetings with the U.S. Embassy and Myanmar's key government officials to assess the business climate in Myanmar and discuss the challenges to the full normalisation of economic relations. For more information, please contact John Goyer, U.S. Chamber of Commerce 



Th, Feb 28 


Foreign investors entering Vietnam are often taken aback by the country's restrictive labor and employment laws. While the regulations under the socialist state are understandably pro-labor, employers can encounter hurdles in unexpected places. This business luncheon will offer employers insight into how best to overcome these difficulties and position themselves for success.


Tu - WeMar 19-20

Through a grant sponsored by Danaher Corporation (Keithley, Fluke, Tektronix), the HEEAP Alliance will host the first annual Vietnam Conference on Engineering Education. This will be a national and Southeast Asia regional event to bring government-academic-industry leaders and faculty together to share best practices, create an annual event to bring the engineering education community together to network and share ideas, and continue the dialogue on engineering education transformation.
Events, Meetings & Special Offers

Accidents can happen at any time and anywhere -  at home, in the office or work sites.  First aid makes the difference andsaves lives. International SOS is providing First Aid Training Courses for individual and companies with 1/2 or 1 day courses.  Extended First Aid Training level 2 & 3 is available upon request. 

The upcoming courses of 1 day First Aid Training will be conducted in 28 Feb, 15 and 29 March 2013.



Ambassador David Shear

On behalf of the U.S. Mission to Vietnam, I wish everyone a very happy Tet.


I hope you enjoy my Tet video message. After watching it, let me know your favorite things about Tet by leaving a comment.

May you and your family enjoy a joyous, healthy, and prosperous New Year.   

Chuc mung nam moi!  

The delegation will seek meetings with the U.S. Embassy and Myanmar's key government officials to assess the business climate in Myanmar and discuss the challenges to the full normalization of economic relations. For more information, please contact John Goyer, U.S. Chamber of Commerce 


Join senior-level executives and political/business leaders from Taiwan and throughout the region, as well as the U.S., for networking and in-depth discussion of key issues facing the multinational business community. The gala dinner on March 21, held jointly with Hsieh Nien Fan, will feature a keynote address by President Ma Ying-jeou. Registration deadline for special rates on hotel accommodations is Jan 31. 


The annual Asia Pacific Business Outlook is the premier conference for exporters and investors targeting Asian markets. Get key intelligence on 17 markets by choosing from 60 focused sessions and private one-on-one consultations.


The annual AmCham Weekend offers an opportunity to review the business outlook and key trade and investment issues with other senior executives in Vietnam, and with the U.S. Ambassador and Embassy/Consulate General senior officials. The Mia Resort, nestled in a quiet bay, on the mountain pass between Cam Ranh Airport and Nha Trang city, is a haven of tranquillity. Set on the slopes of the Nha Trang Mountains, sheltered by jungle, and with its own private beach, it is unequalled in its beauty, hospitality, and quality.  

News and Issues Updates
Kevin Rudd, Australian PM 2007-2010  

According to U.S. agencies, Chinese officials have claimed that the sea contains proven oil reserves as high as 213 billion barrels (10 times U.S. reserves, though American scientists are more skeptical) and 25 trillion cubic meters of gas reserves (roughly the total proven reserves of Qatar). The South China Sea also accounts for some 10 percent of the world's annual fisheries catch. The region is already the scene of deeply disputed exploratory activities for deep-sea energy resources. Fisheries are also already the subject of multiple physical confrontations between vessels. Furthermore, unlike the Senkaku/Diaoyu, many islands in the South China Sea are already occupied, garrisoned, and home to naval bases.  Six states plus Taiwan have disputed territorial claims in the area, though the largest overlap by far is between China and Vietnam.  

MOLISA Minister Pham thi Hai Chuyen Draft Decrees guiding implementation of revised Labour Code, Trade Union Law


The Ministry of Labour, War Invalids and Social Affairs (MOLISA) has circulated a number of draft decrees guiding the new Labour Code and the new Law on Trade Unions. In accordance with Vietnam's commitments in the  Bilateral Trade Agreement, in the report of the Working Party on the Accession of Vietnam to the WTO, and as ratified by the National Assembly in Resolution No. 71, Nov 29, 2006, we are preparing for workshops and dialogue meetings with MOLISA in the coming days, most probably in March. We will keep you informed as to the date, time, and location of the workshops and dialogue meetings.  




Vietnam must practice prudence if it is to maintain inflation at the single-digit level as the inflationary pressure keeps rising while response policies are not enough, say HSBC economists.

Core inflation remains sticky at 12.6% y-o-y in Jan, up from 12.2% in Dec. The significantly higher core inflation, coupled with rising oil prices, means that headline inflation could increase significantly should food inflation accelerate. With China on track for a recovery, global commodity prices may rise, which means that Vietnam would have to be vigilant should it want to maintain single-digit inflation.  


The banking sector is the biggest challenge. Nonperforming loans are one of the most critical issues for the financial and banking sector in Vietnam this year. The ratio of nonperforming loans to total loans increased to an estimated 4.5 percent in May and the central bank acknowledged that the figure could be close to 8.6 percent. Rapid growth in lending over several years, followed by the squeeze on credit in 2011-2012 and exacerbated downturns in the property and equity markets have added to stresses for banks. Rising NPL ratios and the risk profile of some bank balance sheets, particularly those with exposure to unprofitable and overstretched state-owned enterprises raises questions about capital adequacy, particularly for small banks.  


Samsung Electronics Vietnam will build a second factory to produce and assemble mobile phones and hi-tech electronic products as part of a high-tech project in northern Thai Nguyen province. Samsung's existing plant in Yen Phong Industrial Zone, northern Bac Ninh province, manufactures 11 million products per month and employs 24,000 people. Samsung expects export revenues of about $10 billion this year, 40 percent higher than last year, and 10 percent of Vietnam's export turnover this year.  


Dunkin' Donuts, one of America's top chains for coffee and baked goods, will expand its business to Vietnam, with the first locations in Ho Chi Minh City. As a potential market with a generally youthful population, Vietnam is coveted by a number of famous US chains that are now following a trail blazed by KFC and Pizza Hut. Dunkin' Donuts' sister brand, Baskin-Robbins, entered Vietnam in January 2012 and currently has 13 locations in the country. BurgerKing, Subway, Coffee Bean and Tea Leaf, and Starbucks have arrived, also. Dunkin' Donuts currently has more than 10,000 restaurants around the world in 32 countries, including more than 1,450 locations in Southeast Asia.    

 The Twelve Days of FCPA: Useful Takeways (7): Hypothetical Examples  


Takeaway number seven is that the Guide provides examples of how the government believes the FCPA applies (or not) to specific sets of facts. While we've referenced some particular hypotheticals, they're also worth a word generally. While these hypotheticals are not legally binding, a party can reference them in future enforcement proceedings. Overall, the hypotheticals address a range of issues including liability for successor and parents, jurisdiction, gifts and other expenses, and facilitating payments. Some notable examples are Chapter Five's compliance program case study and several situations addressing third-party vetting and joint ventures, as well as Chapter Two's discussion of hypothetical gifts and travel payments.

New World Hotel Saigon #323
76 Le Lai Street, District 1
Ho Chi Minh City