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AmCham HCMC & Danang Weekly Newsletter
August 14th, 2024
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Vietnam recorded a trade surplus of $14 billion in the first 7 months of this year according to the General Statistics Office. But there are clear signs of weakening of the US economy, which does not bode too well for continued growth in Vietnam's exports. The good news is that Vietnam’s domestic demand continues to grow, likely to be a compensating factor.
Prime Minister Pham Minh Chinh has instructed the State Bank of Vietnam (SBV) to carry out measures to achieve a 15% credit growth target for 2024. SBV has proposed expansion of the VND120 trillion housing loan program to VND140 trillion ($5.6 billion), with extended terms and lower interest rates. There is increasing optimism on the revival of the real estate sector in the second half of this year. The Land Law, the Law on Real Estate Business, and the Housing Law, all effective from August 1, are expected to help the revival.
The government continues to make progress on the green development agenda. A delegation from the Ministry of Finance met with the Australian Securities Exchange (ASX) to discuss building Vietnam's carbon credit trading market. The Ministry of Finance is finalizing a proposal to pilot and operate a carbon credit trading platform by 2028.
As we welcome back many of our Members from their summer break, AmCham Vietnam Ho Chi Minh City & Da Nang is excited to resume many of our activities. You will see that we have a packed schedule of events ranging from tax audits, and workforce transformation, to women’s health and more.
Our 13 committees have been extremely active, and we have submitted our comments and feedback on several draft laws including the draft law amending parts of the Law on Advertising and the Draft Amendment on Excise Tax to the relevant ministries.
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We thank all members who recently shared their comments on draft legislation currently being discussed.
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Draft Law on Data: comments received from members have been reviewed by the Digital Economy & Technology Committee, our Advocacy Panel, and Hanoi chapter, and will be submitted by to Ministry of Information and Communications (MIC) by the end of this month.
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Draft Law on Digital Technology Industry: comments received from members have been reviewed by the Digital Economy & Technology Committee, our Advocacy Panel, and Hanoi chapter, and will be submitted by to Ministry of Information and Communications (MIC) by the end of this month.
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Draft Law Amending Certain Provisions of the Law on Advertising: comments have been submitted to Mass Culture Department, Ministry of Culture, Sports and Tourism
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Draft Amendment on Excise Tax: comments have been submitted to Deputy Minister of Justice Trần Tiến Dũng
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Members are encouraged to bring forward any advocacy needs or related questions to the relevant Committees, or by email to advocacyaction@amchamvietnam.com.
Similarly, we invite members experiencing instances of administrative delays and challenges to share details via email to communications@amchamvietnam.com. We are compiling this information on behalf of our members.
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At Cocotte in Sila Urban Living, 21 Ngo Thoi Nhiem, D3
This event is designed to empower you with the knowledge and practices needed to enhance your health and fitness, enabling you to achieve professional success with confidence and strength.
In this workshop, we will focus on three essential aspects of women’s health, delivered by three speakers who are experts in their fields. Each speaker will present a 15-minute session, sharing practical insights and methods to help you stay physically strong and mentally sharp as you progress in your career. The presentations will be followed by a Q&A session with the speakers and a networking opportunity to discuss and apply what you’ve learned while connecting with a community of driven business professional women!
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August 28, 6:00 pm - 8:30 pm
AmCham Connect & Cocktails
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At Hotel Equatorial, 242 Tran Binh Trong, D5
Don’t miss August's Connect & Cocktails, where we will welcome our new Executive Director, Mr. Travis Mitchell! This monthly networking event provides an opportunity to meet AmCham members and other professionals in an informal after-work setting over a glass of wine, beer, or a cocktail.
Join for a fun night of networking and a chance to win in our Lucky Draw!
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At New World Saigon Hotel, 76 Le Lai, D1
Amidst rising geopolitical tensions between two dominant nations, the USA and China, Vietnam has risen as a blooming lotus offering a haven for businesses seeking stability and growth. Vietnam, among other South-East Asian countries is poised as a terminal economy – a central draw for international investment with its robust economic development and favourable investment policies. As Sun Tzu wisely noted, “In the midst of chaos, there is also opportunity.” This seminar will delve into the opportunities and challenges of investing in Vietnam and the value chain and strategic advantages of relocating to Vietnam, positioning it as a pivotal hub for investors and companies looking to diversify and expand their global operations.
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At New World Saigon Hotel, 76 Le Lai, D1
Navigating tax audit in Vietnam presents significant challenges and demands a proactive approach from businesses and individuals. Understanding the complexities of tax regulations and preparing effectively can make a crucial difference in compliance outcomes.
To help businesses better understand this issue, AmCham in collaboration with RSM Vietnam, cordially invites you to attend a seminar titled Navigating Tax Audits in Vietnam: Challenges and Best Practices for 2024. Practical insights from RSM Vietnam’s representative, Mr. Le Khanh Lam, Partner and Head of Tax & Consulting Services, will provide valuable information about common challenges faced during tax audits, best practices for preparation, and practical tips to ensure compliance with Vietnamese tax laws.
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At AmCham Vietnam HCMC office / Online via Zoom
Join us for an exclusive AmCham 101 – New Member Orientation, designed to help you maximize the value of your AmCham membership and connect with fellow business leaders. Whether you’re a new member looking to dive in or an existing member seeking to refresh your understanding of our offerings, this orientation is the perfect platform to enhance your AmCham experience. Don’t miss this opportunity to unlock the full potential of your membership and forge valuable connections within the AmCham community. For any queries, please contact Ms. Sam Hoang, our Membership Manager.
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At Classroom 502, Level 5, Fulbright University Vietnam, 105 Ton Dat Tien, Tan Phu Ward, D7
The needs and demands on current and future employees is constantly increasing, with needs for new skills to enable businesses to be successful. But what are these skills and are employees being prepared today for tomorrow?
Whether you are a student, an employee, or an employer, it's crucial to be ready for the ongoing workforce transformation. This event will provide an opportunity to explore the challenges in preparing the future workforce to meet employer demands. We will delve into the findings of last year’s skill gap survey and discuss potential strategies and measures to ensure a well-prepared workforce in the future.
Fulbright will share the survey results along with a detailed analysis of the trends, and then we will have a working group session to further discuss, with an eye towards making recommendations that could include how to better leverage AmCham’s advocacy power to help properly prepare future employees.
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At GEM Center, 8 Nguyen Binh Khiem, D1
The Vietnam Business Forum (VBF), in collaboration with the Ho Chi Minh City People's Committee, is pleased to announce our upcoming Policy Dialogue in HCMC, themed "Promoting Green Transition and Developing High-Tech Industries." This significant event will convene leaders from local government authorities in the Expanded Southeast Economic Region, including representatives from HCMC, Binh Duong, Dong Nai, Ba Ria - Vung Tau, Long An, Tien Giang, Ben Tre, and Can Tho, alongside the enterprise community.
If you wish to raise any challenges or issues at this crucial dialogue, please submit them to the VBF Secretariat by August 21, 2024.
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Upcoming Committee Meetings | |
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Members are welcome to join, in-person or virtually:
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Lineage Logistics Vietnam Ltd, new Bronze Member
Lineage, a global leader in temperature-controlled warehousing, is expanding its top-tier services across Vietnam. With strategically located facilities in Song Than-Binh Duong, District 7-Ho Chi Minh City, VSIP Bac Ninh, and Quang Minh IP-Hanoi, Lineage offers comprehensive solutions for the safe storage and handling of foodstuffs, seafood, meats, and more. Their specialized services include blast freezing, efficient case picking, cross-docking, and full EDI capabilities, all backed by a strong commitment to food safety and quality. We are excited to welcome Lineage Vietnam as they bring their expertise to support the growing needs of our business community.
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We would also like to extend our warmest welcome to our newest members in August: | |
Latest offers for our members! | |
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Simply present your AmCham membership card to enjoy these and many other benefits.
Give your business the exposure and reach you are looking for by joining our Partner Discount Program. We welcome requests from all interested businesses looking to promote to over 2,000 representatives of over 500 corporate members.
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The American Chamber of Commerce in Vietnam
Ho Chi Minh City & Danang
New World Hotel Suite 323
76 Le Lai Street, District 1
Ho Chi Minh City, Vietnam
Phone: +84 28 3824 3562
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