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Private Equity, TPP Update, Roads to Myanmar, USA Independence Day
FEATURES

 

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. 

Events, Meetings & Special Offers

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.

We, May 8

Breakfast Briefing: All roads lead to Myanmar - Vietnam and Myanmar legal and tax comparison 


It is impossible to ignore the enormous economic, political and social transformation sweeping through Myanmar in recent times. The significant developments in Myanmar's economic and political landscape are somehow similar to the ones Vietnam experienced over the past couple of decades.

We, May 22

AmCham Palooza Party

 

AmCham will continue its series of monthly informal networking events at the coolest and latest nightspots in Ho Chi Minh City.


Free admission for members

VND 100,000/non-member


includes free canapes; special prices for drinks, charged upon consumption to individual guests by the Restaurant

Seeking funding for Child Genital Reconstruction Surgeries,
Hanoi, Vietnam, June 15 - 30, 2013, for 22 children in Hanoi and 8 in Da Nang who have lost their genitals through birth malformations and traumatic injuries. 
Dr. Roberto DeCastro (Bologne) and Dr. Dinh Tue (Houston) will perform 30 infant and child operations at no charge for the disadvantaged families. The entire mission requires $70,000. Any size donations appreciated.
For additional information contact: Greig Craft, President, AIP Foundation (a US 501(c)(3) tax exempt charity) | Tel: +84987186688 | Email: [email protected] - [email protected]
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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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.


Committee Activities
When:     Tuesday, May 14, 2013 - 5:00pm - 6:00pm 
Where:    Baker & McKenzie Offices

When:     Wednesday, May 15, 2013 - 8:45 - 10:15 am
Where:
    Renaissance Riverside Hotel Saigon
 
Manufacturing Committee
When:    Tuesday, May 20, 2013 - 2:00pm - 5:00pm
Where:
    AmCham Office 3F, New World Hotel Saigon

When:     Friday, May 24, 2013 - 3 - 5pm
Where:
    AmCham Office 3F, New World Hotel Saigon
News and Issues Updates

 

Ms. Obata has more than 20 years of experience in general corporate, administrative litigation, civil disputes, commercial disputes, and alternative dispute resolutions. Prior to joining TMI Associates, Ms. Obata worked as a long term expert of the Vietnam legal and judicial reform project run by JICA (Japan International Cooperation Agency) in which she was involved in revising existing laws such as Civil Code, Civil Procedure Code and Criminal Code.

WTO Import Licensing Committee: Questions for Vietnam
Viet Nam's licensing regime. The US, supported by the EU, welcomed Viet Nam's decision to temporarily suspend some import regulations applied to "a number of goods", but it regretted that Viet Nam had failed to provide the complete list of products, as required by the Import Licensing Agreement. It complained that six years after Viet Nam became a member, its import licensing regime remains unclear. Viet Nam said it would provide information about the products affected by import licensing and would work with members. See documents G/LIC/Q/VNM/4 (U.S. questions) and G/LIC/N/1/VNM/2 (VN Notification). ...
 
By providing a focal point for the deregulation and competitiveness measures that Japan's economy sorely needs, it helps achieve the single most important component of Prime Minister Abe's economic strategy: structural reform. For Japan, TPP participation also puts aside the concern that the third largest economy in the world, and fourth largest exporter, will play a marginal role in international trade negotiations. ... 
Japan is the fourth largest exporter in the world, but its trade policy is falling behind that of other countries, not just immense, low-wage China, but also advanced competitors like Korea. In 2003 Korea established a "roadmap" for free trade with all major trade partners and has nearly completed this mission. Korea has signed agreements with the European Union, the United States and many Asian neighbors, and by the end of 2012 had finished four rounds of negotiations with China. Economic analysis strongly supports the many Japanese business, academic and political leaders who are now urging membership in the Trans-Pacific Partnership (TPP) as well as other regional trade negotiations. Japan would be the largest beneficiary of a 13-member TPP agreement. Its GDP gains could reach $119 billion dollars per year, or 2.2 percent of GDP in 2025. Japanese exports would rise by 14 percent over baseline projections. These large gains depend in part on reducing non-tariff and investment barriers, an important feature of the TPP that should lead to substantial new foreign investment in Japan, greater exports of sophisticated manufactured products, and improvements in service productivity.
American Chamber in Japan Welcomes Japan's Entry into the TPP Talks

"Structural reform is one of the three key tenets of Prime Minister Abe's growth strategy that has come to be known as Abenomics. These reforms will encourage investment and innovation and improve transparency and corporate governance. Growth in Japan's economy will not only be good for ACCJ member companies doing business in Japan but will also provide a stronger market for American exports which means more jobs in the United States." 

Ambassador Marantis met with Vietnamese President Truong Tan Sang and other key officials including Deputy Prime Minister Vu Van Ninh. He continued to discuss issues that are becoming more important to resolve as TPP moves closer to conclusion - specifically, access to Vietnam's services sector for competitive American companies, and overall market access for American businesses wishing to trade with Vietnam. He reiterated that the U.S. expects a final TPP agreement to have high-standard, fully enforceable commitments on the environment and on labor rights.

Vietnam's state coal miner may make it onto a list of the world's top mining companies by just one measure: its workforce. With almost 140,000 staff, it has more than BHP Billiton Ltd. (BHP) and Rio Tinto Plc (RIO) combined. Vietnam National Coal Mineral Industries had about $4 billion in sales last year, compared with a combined $123 billion for BHP and Rio Tinto, the world's biggest mining companies. The difference in productivity shows the need and challenge facing Vietnam's structural reform of SOEs.

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.
 
"We will prioritize funding from the city's budget for this industry. HCMC has raised funds for research, experimental production and chip development," said Vice Chairman Lê Mạnh Hà. He said the Government had a preferential policy for hi-tech industries, including loans worth up to 85% of the investment cost and credit support. And there should be a policy for market development, such as technical barriers to protect locally-made products. State agencies, banks, security and engineering firms should use chips produced at home. This will guarantee sales for chip manufacturers and ensure safety and security for the users.
 
Vietnam's government needs to accelerate structural reforms of SOEs, the banking sector, and public investment to boost growth that was at a 13-year low last year, NA Vice Chairwoman Nguyen Thi Kim Ngan said. "The economy will continue to face difficulties this year" amid an international slowdown and domestic challenges, Ngan said at a conference held by the National Assembly's economic committee.

"The government needs to improve its current master plan to restructure state companies and overhaul the banking system, otherwise it will not work effectively as it lacks clear action plans," Truong Dinh Tuyen, a member of the National Financial Monetary Policy Advisory Council, said after the conference.

Vietnam needs to "urgently put in place a non-performing loan resolution mechanism" and strengthen risk management and corporate governance systems, said Deepak Mishra, the World Bank's lead economist in Hanoi. Vietnam's economic challenges "can't be fixed by repeatedly easing monetary and fiscal policies," he said. 
 
Prime Minister Nguyen Tan Dung has asked ministries, branches and localities to create favourable conditions to attract investment, especially foreign invested and high-tech projects. He said that more drastic structural reform measures are needed in public investment, state-owned enterprises and the banking sector. He made the request at the cabinet's April meeting that opened in Hanoi on April 26 to review socio-economic development during the first four months of the year, and discuss measures for the following months. 
 
Something has gone wrong for Vietnam. It finds it's no longer the same darling of foreign investors it used to be. For three years in succession, it has failed to reach its foreign direct investment (FDI) targets and the government, judging from recent remarks by its ministers, is worried. If the slide continues, they fear, there will be an adverse impact on economic growth, and if economic growth falters, investors could become even more hesitant. ...

From April 8, 2014, Microsoft will no longer provide automatic fixes, updates, or online technical assistance for Windows XP. This means that users will no longer receive security updates that help protect PCs from harmful viruses, spyware, and other malicious software. Windows XP still makes up 45.8% of operating systems in Vietnam, over 5.5 million PCs. Now is the time to upgrade from the decade old software.
New World Hotel Saigon #323
76 Le Lai Street, District 1
Ho Chi Minh City