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Palooza Party, TPP Update, USA Independence Day, AmCham Scholarship
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The Trans-Pacific Partnership (TPP) agreement can double Vietnam's apparel and textile exports to the US, according to Vietnam Textile and Apparel Association Consultant Le Quoc An. China presently accounts for a 37 percent share in the US textile and apparel market, while Vietnam only has an 8 percent share. If the TPP deal is inked, it would help Vietnam capture a 10 percent points share from China, as Vietnamese textiles and apparel would then enjoy greater benefits than products from China, which does not form a part of the TPP agreement. Vietnamese textile and apparel exports to the US are presently subjected to a 17 percent levy, which would either be halved or reduced to zero under the TPP, he added.
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AmCham now is starting a new decade of one of its most remarkable community development activities - the AmCham Scholarship Program. On behalf of the AmCham Scholarship Management Team, I would like to invite you, as part of the AmCham community, to participate in the program so that the AmCham Scholarship can keep growing in order to support Vietnamese young talent.
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Events, Meetings & Special Offers
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We, Apr 24
The Palooza Party is a platform to develop new friendships, networking opportunities and information exchange.
Come and join us for a night of casual networking, meet other professionals, bring your business cards!
AmCham Member: Free admission
Non-Member: VND 100,000
includes free canapés; special prices for drinks, charged upon consumption to individual guests by the Restaurant
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Tu, May 7
- Private Equity and Venture Capital - What it is and how does it work.
- An overview of the globalization of Private Equity and Venture Capital.
- Private Equity and Venture Capital in emerging markets.
- Private Equity and Venture Capital activity in Vietnam.
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Having the biggest salary survey in Vietnam with compensation data of more than 120,000 employees from 371 companies joining our salary survey last year, we would like to invite you to become a member of our 2013 Vietnam Total Remuneration Survey (TRS). Instruction seminars for participants 2013 were held on 17/04 at Sofitel Plaza in Hanoi and 18/04 at New World Hotel in Ho Chi Minh City.
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Korean Air offers one of the largest global networks in the industry, connecting 125 cities in over 45 countries. Fly to your favorite destinations with us any day because we understand that the world is your stage.
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Enjoy our carvery Saturdays where roasted meat is freshly sliced by our team of culinary artists. An array of meat and poultry, perfectly paired with your choice of sauces and a variety of accompaniments will tingle your taste buds.
Riverside Café - Lobby Lounge
Every Saturday, 12:00 noon - 2:30pm
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HCMC: Time: 6:00pm, Wednesday May 8th, 2013 | Venue: 3rd Floor, PVC-Saigon Building, 11bis Nguyen Gia Thieu Street, District 3
HANOI: Time: 6:00pm, Wednesday May 8th, 2013 | Venue: Suite 1101, 11th Floor, Building A, FTU, 91 Chua Lang Street, Dong Da District
To register, click here or call (08) 3933 3033 for HCMC or (04) 906 260 408 for Hanoi
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Welcome you to K-C where diverse people make the difference! We are looking for people who bring passion to win and a desire to make a difference. We will actively seek people from diverse backgrounds and perspectives because this will lead us to better insights, debate and solutions. People join our company to make a difference in the lives of people around the world, in their communities, in their teams and for their families.
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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. The cocktail reception will offer networking opportunities for one-on-one conversations with the Consulate General Team, AmCham Governors, fellow members, and especially to meet new members.
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When: Tuesday, April 23, 2013 - 2:00pm - 5:00pm
Where: AmCham Office 3F, New World Hotel Saigon
Agenda:
- Meeting with VCAD's Representative to discuss the revision of the Decree 110
- Report on Direct Selling 2012 and share the 2013 overview
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The International School Ho Chi Minh (ISHCMC) - American Academy has appointed Mr Eric Hamilton as the school's new Campus Principal. The selection of Mr Hamilton comes after an extensive international search to find the best educator to take the school's academic performance to a new level. A US citizen, Mr Hamilton has more than 20 years experiences in US and international schools and is a recognized expert in the teaching of academically advanced children.
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The 16th round of negotiations concluded in Singapore on March 14, and the 17th round is scheduled to be held in Lima, Peru May 15-24. The current goal is to reach an agreement in time for the October 2013 APEC summit in Indonesia. For this deadline to be achieved, outstanding negotiating positions need to be tabled soon in order for political decisions to be made. The negotiating dynamic itself is complex: decisions on key market access issues such as dairy, sugar, and textiles and apparel may be dependent on the outcome of controversial rules negotiations such as intellectual property rights or state-owned enterprises.
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On goods market access, U.S. trade officials said they had a positive exchange with Vietnam at the Singapore round. One source said USTR is planning a new exchange of goods offers with Vietnam in April. USTR has indicated that Vietnam's most recent offer on services and investment yielded only technical as opposed to substantive improvements. USTR has been working closely with Vietnam to help it draft a services offer based on the negative list approach being used in TPP, which Vietnam has never before done in a trade agreement. Four TPP chapters are to be completed in May: sanitary and phytosanitary (SPS), Technical Barriars to Trade (TBT), Investment, Services.
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"Since November 2011, the United States has been engaged in consultations with Japan focused on Japan's readiness to meet the TPP's high standards for liberalizing trade and investment, and to address specific bilateral issues of concern in the automotive and insurance sectors, as well as other Japanese non-tariff measures.
"The United States and Japan have successfully completed these consultations by concluding a robust package of actions and agreements with Japan in the automotive and insurance sectors, as well as other non-tariff measures. As a result, we are pleased to welcome Japan's participation in the TPP negotiations pending a consensus agreement among the current TPP members and the completion of our respective domestic processes. Japan's entry into this important initiative for the Asia-Pacific region will help it to deliver significant economic benefits to the United States, Japan and the Asia-Pacific region."
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"Vietnam will lose more than it gains if it signs the TPP agreement when it has not well readied conditions for participation. This is my concern in the role of a head of the ministry responsible for general economic issues," Ministry of Planning & Investment Minister Bui Quanh Vinh said at a Vietnam-Singapore Business Forum in HCMC. As a result, Vietnam will only sign an agreement for the Trans-Pacific Partnership currently under negotiation when the country has made all necessary preparations in order to lessen negative impact on its economy and businesses, he said.
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U.S. policy towards Burma has undergone a discernible shift in its approach since a quasi-civilian government was established in March 2011. While the overall objectives of U.S. policy towards the country remain in place, the establishment of civilian democratic government based on the rule of law and the protection of basic human rights, the Obama Administration has moved from a more reactive, "action-for-action" strategy and a skeptical and cautious attitude towards the newly created Union Government and Union Parliament to a more proactive mode. The new approach is designed to foster further reforms based on some form of partnership with the Union Government, headed by President Thein Sein.
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Vietnam's economy stabilized in 2012 as previous policy tightening suppressed inflation and bolstered external accounts. Subdued economic growth prompted an easing of monetary policy last year, but lending was constrained by problems in the banks. GDP growth is forecast to edge up this year and next, with inflation in the high single digits. Sustaining foreign direct investment inflows and maintaining competitiveness requires intensified efforts to reform banking, state-owned enterprises, and the business environment.
GDP growth ebbed to 5.0% in 2012, the slowest in 13 years, as fiscal and monetary tightening in 2011 continued to have an impact into 2012. While the policies took a toll on growth, they achieved sharp reductions in inflation and a more stable exchange rate, and they contributed to a record current account surplus and to rebuilding foreign reserves
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Global Development Alliance for Disaster Reduction Business Opportunity
Interested private sector businesses are encouraged to learn more about USAID's Global Development Alliance Addendum for Disaster Risk Reduction. This Addendum forms part of the USAID 2013 Global Development Alliance Program Statement and is a call for partnerships bringing together the private and public sector to reduce natural disaster risks in Vietnam, Burma, and Thailand. The closing date for 5-page concept papers is May 8, 2013.
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The VBF Consortium welcomed its 16th member, the Indian Business Chamber in Vietnam (InCham), in April 2013. A signing ceremony for the Addendum to the VBF Consortium's Memorandum of Understanding was held at the VBF Secretariat's Office in Hanoi to recognize the official participation of InCham in the VBF Consortium.
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State sector touted as main economic driver again
It is once again stated that the State economic sector plays the leading role in the economy in the updated draft version of the amended Constitution, according to the Committee for Drafting Amendments to the 1992 Constitution. The drafting committee explained the statement "the State economic sector plays the leading role in the economy" helped identify the pivotal role of the State sector and reflected the nature of the regime. The committee proposed the draft should alternatively say that "the State develops the socialist-oriented market economy, with various forms of ownership, with various economic sectors in which the State economic sector plays the key role and together with the collective economic sector lays a solid foundation for the national economy. "The private economic sector is one of the driving forces for the economy, while the foreign-invested economic sector is encouraged for development," says the draft.
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Amway to invest an additional $20 million in 2nd plant in Binh Duong
Speaking at the fifth anniversary celebration of Amway, President Doug Devos said that the new plant would cover over 54,000 square meters at VSIP II. The production capacity is estimated to reach US$200 million per year, seven times higher than that of the first plant, located at Amata Industrial Park in Dong Nai Province. After five years, Vietnam ranks 12th among over 100 countries and territories for Amway sales. With the new plant, Amway expects Vietnam to reach the top ten by 2016. Amway currently holds around 30% of the direct selling segment in Vietnam, with a widespread distribution network of 300,000 distributors, branches, distribution centers and sale points nationwide. Amway has also opened two stores and two training centers in Hanoi and HCMC.
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Sanofi to invest $75 million in 3rd plant and product development center
France's Sanofi pharmaceutical group was awarded a license by the HCMC government to develop a new factory in SHTP besides constructing a product development center there. Christopher A. Viehbacher, managing director of Sanofi, said the US$75-million project will be designed with the largest capacity in Vietnam compared to the two current operational ones in full swing in HCMC. The third plant will have an initial capacity of 90 million packs of medicines annually which is expected to increase to 150 million packs later with a vast array of high-quality medicine and healthcare products. It is set for operation in late 2015 alongside a network of 40 Sanofi factories in emerging markets.
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New World Hotel Saigon #323
76 Le Lai Street, District 1
Ho Chi Minh City
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