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Major textiles FDI in Vietnam, ADB loans $500 million to HCMC Metro Project
Roger Lee, TAL Group CEO
TAL Group will expand its investments in Vietnam with a US$ 200 million garment and textile project in Phase I. The fabrics and apparel at the new unit would be produced using latest technologies that do not cause pollution and the firm would ensure that environmental standards are maintained. TAL Group CEO Roger Lee announced plans for a 2nd factory in Vietnam, "especially thanks to the duty savings that we could get under TPP." [see 4:37-4:40 on Bloomberg Video]. This brings the total announced TPP-related FDI in Vietnam's textiles/apparel sector to over $1 billion. TAL is among several companies that are investing in Vietnam in view of the benefits that the country would get as it nears the signing of the TPP. Hong Kong's Texhong Corporation and Sunrise Textile Co., Japan's Toray International and Mitsui Corporation, S Korea's Kyungbang, Austria's Lenzing, have also announced FDI plans.
TPP Trans-Pacific Partnership
Over 100 AmCham members and Vietnamese entrepreneurs from the Leading Business Club considered TPP Opportunities and Challenges, and learned detailed, specific requirements for Vietnamese companies to join supply chains of U.S. buyers, and take full advantage of the opportunities that will be offered in the Trans-Pacific Partnership FTA. Click the link to view the presentations. 
ADB loans $500 million to HCMC Metro System
ADB gives $500 mln loan to HCMC metro project
Total investment for the metro line is estimated at nearly US$1.375 billion, of which $540 million has been given by ADB, $313 million will be granted by KFW -  a German government-owned development bank; $195 million will come from the European Investment Bank (EIB), and the rest will be the counterpart capital of HCMC. The metro line will be 11.3 km long, running from Ben Thanh Market in District 1 through Tan Son Nhat airport in Tan Binh District to Tham Luong in District 12.
Committee Activities
When:     Tuesday, Jul 9, 2013 - 5:00pm - 6:00pm 
Where:    Baker & McKenzie Offices


When:     Wednesday, Jul 10, 2013 - 8:45am - 10:15am
Where:    Renaissance Riverside Hotel Saigon
When:      Monday, Jul 15, 2013 - 8:00am - 9:30am 
Where:     New World Hotel Saigon
Events, Meetings & Special Offers


Global Food Technologies, with its corporate offices in the San Joaquin Valley of California, is excited to assist Fresno State in inviting interested Vietnamese National Students to attend the VietAbroader Conference. The conference will be held July 20th, 2013 in Ho Chi Minh City and July 21st, 2013 in Hanoi. 

Lee Hecht Harrison | DBM Vietnam will be delivering Coaching Practice for LeadersTM on Wednesday, July 24, 2013 in HCMC. This course is designed to assist leaders in gaining skills and confidence in conducting coaching conversations. The session focuses on educating participants on the Results Based Coaching Model, as well as six proven coaching practices. Lee Hecht Harrison | DBM (www.lhh.com) is the global leader in Talent Mobility with over 300 offices worldwide focused on delivering superior results in Career Transition, Leadership Development, Employee Engagement and Change Management.


Indulge in the finest oyster delicacies, fresh from the ocean

Extraordinary oyster experiences are the highlight of the month. Fans of the much-loved mollusks can head for the dinner spread at Nineteen.

Freshly shucked oyster station with traditional condiments. Warm oyster prepared in favourite recipes from East & West: oysters Kilpatrick; yellow oyster curry; breaded deep-fird oysters... 

VND 1,013,000 per person


- The first car insurance in Vietnam specially designed for cars of more than 3 years of age

- Liberty MyCar covers 95% of all risks related to physical damage of the vehicle at an exceptionally low cost

- The market for used car insurance has high potential.


AmCham HCMC offers many opportunities to market your company's products and services to AmCham members, the business community and the general public. Our services include: 

- Event Sponsorship

- Event Management Support 

- Networking Online (Advertising) on AmCham website

- Announcement in Weekly Update Email

- Print advertising in AmCham Membership Directory 

- Print advertising in AmCham Membership Discount Handbook

- Advertising on AmCham Discount Online 

News and Issues Updates
Patrick McHenry, NC-10

They asked that he support strong textile rules in the TPP.  "This agreement must be fairly constructed to protect and maintain investment in the many small- and medium-sized textile businesses in our nation that would be affected by it," said the co-chairman of the Congressional Textile Caucus and a member of the powerful Ways and Means Committee. The letter, signed by 167 lawmakers, 38% of the 435-member House of Representatives, expressed concerns about positions taken by the Vietnamese government in the negotiations that could have significant negative effects on the U.S. textile industry and its export partners. "The Vietnamese government has attempted to change long standing rules to allow the sourcing of textiles from China to the United States duty free.  This could lead to the loss of more than 500,000 textile jobs in the U.S. and another 1.5 million jobs in the textile supply chains in the Western Hemisphere and Africa. The letter specifically mentions the importance of the yarn-forward rule which ensures that only countries within a free trade region receive benefits from the agreement.  This rule is responsible for over $25 billion of trade between the United States and other countries. 
At a hearing on U.S. competitiveness before the House of Representatives Small Business Comittee, National Council of Textile Organizations Chairman McKissick said, "U.S. manufacturing jobs are at stake and it's critical our negotiators get this trade agreement right. A poorly negotiated TPP will cause widespread job losses in the U.S. and the Western Hemisphere." A key issue is the "yarn-forward" rule, which means yarn and fabric must be manufactured and assembled in the free-trade partner country in order to enter U.S. markets tariff-free. More than 160 Members of Congress have signed a letter to the U.S. trade representative, asking him to maintain the yarn-forward rule, which has been included in every major U.S. free trade deal for the last 25 years. U.S. House of Representatives Committee on Small Business Hearing on U.S. Competitiveness, Jul 2013.
Nestlé has inaugurated a new $237 million factory in Vietnam that will meet growing demand for its Nescafé soluble coffee products in the region. More than 200 new jobs have been created with the opening of the factory, which is located in Dong Nai province and manufactures products for both local consumption and export. Nestlé's investment in Vietnam supports its activities around the Nescafé Plan, the company's global initiative to optimize its coffee supply chain that includes measures such as increasing direct procurement from farmers and providing them with free technical assistance.
ACV wants to speed up Long Thanh airport
Airports Corporation of Vietnam (ACV) requested related parties to accelerate the development of Long Thanh International Airport in Dong Nai to ease the burden on the operational Tan Son Nhat International Airport, which would be overloaded by 2020, even in the lowest growth scenario for the aviation market. It takes around ten years to complete an international airport. Thus, the decision to build Long Thanh airport has come late. 
Long Thanh Airport to cost up to $5.6 billion
Long Thanh airport to cost up to $5.6 billion
Construction will be in three stages, with the first one expected to start in 2015. The airport is scheduled to become operational by 2020, and will be capable of handling 25 million passengers and 1.2 million tons of cargo per year. The figures are expected to reach 100 million passengers and 5 million tons in the last stage, starting in 2030.
The AmCham Member Discounts Program is provided as a Membership Benefit. It serves as a mutually beneficial opportunity for both AmCham Members and AmCham Discount Partners. Members must present their AmCham Membership Card to receive special, privileged discounts offered by AmCham Discount Partners. A listing of discount offers is available in the annual Membership Discount Handbook (hardcopy) and on the AmCham website
New World Hotel Saigon #323
76 Le Lai Street, District 1
Ho Chi Minh City