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Iowa Business Mission, Hire and Fire (Legally) Lunch, Labour Code Draft Decrees

A pinch of spice, a dash of salt and a dollop of masterful artistry. Angsana Lăng Cô proudly presents an exclusive one-night only dining experience with Bobby Chinn on 6 April 2013.
An emersion of French cuisine techniques, Californian sensibility, a mix of Middle Eastern spices and a touch of Southeast Asia's flavours - celebrity chef-restaurateur-television host, Bobby Chinn breaks all rules in the kitchen in his countless cross-culinary adventures around the globe. 

Events, Meetings & Special Offers

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, Mar 5

Vietnam Business Opportunities, (New York City) 


Learn about "mega-trends" in Vietnam, the Greater Mekong Subregion, and ASEAN that offer great business opportunities. This event is organized by BECAMEX IDC, Citibank, and the Manhattan Chamber of Commerce. AmCham is supporting the event by sharing information.



We, Mar 6

Visa procedures for Business Travel to the USA


In response to a number of AmCham companies, AmCham has arranged this workshop to provide an update on U.S. visitor visa application procedures, visa renewal procedures, and procedures for group visits (incentive tours, etc.). 



Open FexEx account and enjoy TRIPLE rewards. Jan 21, 2013

Open a FedEx account before Apr 30, 2013 to enjoy triple rewards when shipping with FedEx. Plus 200,000 vnd Highland Coffee coupon upon account opening*, 400,000 vnd Big C voucher when making a shipment w/i the first 30 days after account is opened,* and 30% shipping discount on FedEx International Priority and International Express sent to/from Vietnam until Jan 05, 2014."


Update on the most recent developments, and discuss with experts the issues that will affect taxpayers in 2013. This is also a good chance to raise your questions about annual tax finalization. The Annual Tax Dialogue is organised by EuroCham, co-hosted by AmCham and other Foreign Business Associations.


Join us to learn how to best utilize your membership investment. This Orientation Meeting is the perfect opportunity for new members to get familiar or reacquainted with all the benefits, events and programs offered to you to help grow your business. You will hear from Executive Director, Herb Cochran on ways to get involved through your membership.  

AmCham invites you to attend a Members Night where you can meet the U.S. Consul General An Le and his key team members. Get an update and key issues brief and learn about the many services offered by the Consulate General to U.S. citizens, AmCham companies and staff. Enjoy a cocktail reception with networking opportunities for many members. 

Following the recent announcement of their merger, the Australian International School Vietnam and ACG International School Vietnam are hosting an Open Day on Saturday 16 March 2013, from 9am to 11am. The merged school will also be called the Australian International School (AIS).

The Open Day,  "Experience an IB World school at its best", will provide parents who are interested in international education with  the opportunity to visit and tour AIS's main campus, in Thu Thiem. 

Vietnam would be the largest beneficiary on the TPP track and of an Asia- Pacific-wide agreement. Five factors explain this result: strong trade with the United States; the lowering of high protection abroad against apparel and footwear, which are Vietnam's principal exports; strong competitive positions in these and other manufacturing industries where China's comparative advantage is fading; high initial domestic protection; and powerful scale effects in Vietnam's principal production clusters.  


The first three factors would boost Vietnamese exports and terms of trade under the TPP. The last two amplify these benefits by stimulating productivity gains. Higher incomes in turn enable Vietnam to invest more and grow more rapidly.  

The chart show U.S. imports from TPP countries, excluding Canada and Mexico. Vietnam was already the third largest supplier in 2011, overtook Singapore in 2012, and could soon overtake Malaysia to be the leading supplier. As an export market, Vietnam ranks quite low.


Iowa Lieutenant Governor Kim Reynolds
Iowa Lieutenant Governor Kim Reynolds will lead a business mission to Vietnam. After arriving in Hanoi, the mission will be in HCM City Feb 25-27. The mission will also go to the Philippines after Vietnam.

Participants on the delegation include both manufacturing and agricultural products exporters. Iowa's largest export sector is tractors, followed by pork products. "The basic components of growing international trade are two things,"said Gov. Terry Branstad in announcing the mission. "First is an open and fair market and secondly, salesmanship."

"Oftentimes you don't see immediate results from a business mission; it's building relationships," Branstad said. "For instance, when China's Vice President Xi Jinping was here, there was big delegation that bought $3.4 billion worth of soybeans. But if you really want to go back, I'd say you want to go back to his first visit here in 1985 when we started that relationship." 
Ambassador David Shear

I recently visited Thai Nguyen University (TNU) to get a close look at our cooperation with an innovative Vietnamese university.   We are pleased to partner with TNU as it builds a reputation as a regional university, increases its English language programs, and boost its efforts to teach Vietnamese youth.   


We are proud to have our Fulbrighters teach English and run programs at TNU, and we have built an "American Space" at the university to introduce students to American culture and spotlight the many scholarship programs and exchange opportunities in the United States.  

The macro-economy is steady with inflation under control and at a single digit. GDP growth is over 5%. Our export turnover reached nearly US$115 billion. . Foreign exchange reserve is also at its highest level and international confidence in the Vietnamese dong is strong. We have a stable social safety net and per capita income has reached $1,500 per annum. Despite economic difficulties facing the region, Viet Nam has attracted over $13 billion of FDI and another $6.5 billion of ODA.  


 But, it cannot be denied that 2012 had its fair share of difficulties. The global financial crisis and economic slowdown have negatively affected our country's development. The economy has shown weaknesses and limitations. Interest rates are high, bad debt and inventories are big and the property market is frozen. Businesses face difficulties and many have dissolved or stopped their operations. The standard of life of some, especially the poor and low-income workers, has dropped, while the rich-poor divide has widened. Crime and social vices, pollution ... 

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
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 activity likely represents only a fraction of the cyber espionage that APT1 has conducted against nearly 150 victims over seven years from four large networks in Shanghai. The report explains a substantial amount of APT1's attack infrastructure, command and control, and modus operandi (tools, tactics, and procedures). The analysis concludes that APT1 is likely government-sponsored and one of the most persistent cyber threat actors that receives direct government support. In seeking to identify the organization behind this activity, ...


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.  

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