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AmCham HCMC & Danang Weekly Newsletter
June 19, 2024
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Tech stocks propelled U.S. markets last week. Investors were encouraged by positive corporate results and announcements, more than by May’s favorable inflation report. Markets now expect only one Fed rate cut this year, which is a stark contrast to expectations at the start of this year. On the local front, different estimates project Vietnam’s GDP to grow between 5.5 to 6% in Q2.
A delegation from IMF is currently conducting its annual member country consultation, meeting various stakeholders including government agencies, representatives of the private sector, and academia across Vietnam.
Vice-Chair Winnie Wong (Mastercard) hosted representatives from J.P. Morgan’s Trade & Working Capital teams based in the U.S., Singapore and India, for an overview of Vietnam’s and HCMC’s economic outlook. Long-term opportunities such as semiconductors requiring significant human capital investment were themes discussed as part of an overall optimistic outlook.
U.S. markets, federal offices and most banks will observe a holiday on Wednesday for Juneteenth. Commemorating the abolishment of slavery in the U.S., the day is observed every year on June 19th. AmCham joins Juneteenth celebrations in recognition of its diverse membership and its commitment to diversity.
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More below on our advocacy efforts, upcoming events and Committee meetings, and some news. | |
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We thank all members who have recently shared their comments on draft legislation currently being discussed.
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Liquefied Natural Gas (LNG) Power Projects Development Mechanism: members are asked to submit their comments to the Energy Committee through June 21st to be compiled, before inputs from the Advocacy Panel and Hanoi chapter, and submission to the Ministry of Industry and Trade (MoIT).
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Letter to the Central Institute for Economic Management (CIEM) on difficulties affecting investment and business activities in the food sector: this was submitted last week.
Members are encouraged to bring forward any advocacy needs or related questions the relevant Committees, or by email to advocacyaction@amchamvietnam.com.
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At CTY Kitchen + Bar, 72 Nguyen Thi Minh Khai (Ground Floor Centec Tower), District 3
Brought to you by the Women in Leadership Committee, this event is designed to enhance your communication skills, enabling you to become more effective and influential in your role.
In this skills development workshop, we will focus on three critical aspects of communication, delivered by three distinguished speakers who are experts in their fields. Each speaker will present a 15-minute session, sharing practical insights and methods to enhance your communication skills. The presentations will be followed by a Q&A session with the speakers and a networking opportunity to practice your new skills and connect with fellow amazing businesswomen!
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At Deloitte Coffee Lounge, 17th Floor, Times Square, 57-69F Dong Khoi Street, District 1
Identify the challenges faced by businesses in complying with the new transfer pricing regulations due to global minimum tax and explore the opportunities for proactive compliance.
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At Fulbright University Vietnam, 105 Ton Dat Tien Ward, Dist. 7
Requirements for current and future employees are constantly evolving, with new skills needed to help businesses succeed. What are these skills and how can employees be prepared today for the future?
Students, employees, and employers need to be ready for workforce transformation. This event will explore the challenges of ensuring the future workforce is sufficiently prepared to meet employer requirements. We will examine the results of last year’s skill gap survey in depth, and work through scenarios and measures to ensure the workforce is prepared for the future.
Fulbright will share the survey results along with a detailed analysis of trends, followed by a working session to discuss further, aimed at making recommendations that could include how to better leverage AmCham’s advocacy power to help properly prepare future employees.
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At Park Hyatt Saigon, 2 Lam Son Square, Dist. 1
In an increasingly interconnected world, the outcomes of elections in key geopolitical players such as the United States and the European Union have implications beyond their borders. Bringing together Edelman Global Advisory’s (EGA) top election thought leaders, the briefing will explore the ripple effects of the US and EU elections on the Asian continent, their implications on the business outlook in Vietnam, and the wider Asian region as business leaders develop strategies for 2025.
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At Cocotte in Sila Urban Living, 21 Ngo Thoi Nhiem Street, District 3
Don’t miss June's Connect & Cocktails! AmCham’s 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 great night of networking and a chance to win in our Lucky Draw!
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At Riverside Apartments, 53 Vo Truong Toan Street, Thao Dien, District 2
Less than two weeks to go for our 29th Annual Independence Day Celebration & Community Picnic, on June 29th 2024 in Thao Dien!
Over 140 prizes to win at our multiple raffles, including including round-trip Premium Economy airfare to the U.S. or Canada on EVA Air, 2-night stay at An Lam Retreats Ninh Van Bay, furniture pieces from Wanek Furniture Co., and many, many more!
PLUS: beat the sun with a free OBAGI SPF sunscreen for every 10 raffle tickets (VND 70,000 each). Get your raffle and event tickets today!
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Upcoming Committee Meetings | |
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Members are welcome to join, in-person or virtually:
New Consumer Health and Wellness Subcommittee leader introduction; presentation: Are traditional Employee Health Checks Obsolete? The rise of medically led data-driven approaches in Vietnam by Dr. Greg Jakubowski (International SOS)
Presentation: Adjustment & development in organization culture by Nguyen Thi Bich Hong (HR2B)
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Paradox, new Gold Member for June
Paradox is a US - headquartered recruiting platform, which leverages conversational AI to make the hiring process simpler for job seekers and recruiting teams. Paradox operates locally in Da Nang and Ho Chi Minh City - based offices with a few hundred employees, primarily focused on software development. Since its founding in 2016, the company has earned the trust of the world's largest employers and won numerous awards, including Human Resource Executive's Best HR Product of 2019, 2021, and 2022, and consecutive honors in 2020, 2021, and 2022 as one of Forbes Top Startup Employers. The company has twice been ranked as one of the fastest growing companies in HR Tech by the Deloitte Fast 500, and has made the Inc. 5000 list the last three consecutive years.
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Eddie's LLC, new Bronze Member for June
Eddie’s New York Deli & Diner is a restaurant group in Saigon serving up Friendly Service and 1950s Diner Vibes, along with Authentically American Cuisine including Burgers & Steaks, All Day Breakfast, World Famous Reuben’s, Milkshakes, Desserts, and much more.
Founded in 2018, Eddie’s has 3 locations, each seating 100 guests in D1, D2, & D7. They also offer citywide delivery, private party space, and truly American catering services.
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We would also like to extend our warmest welcome to our newest members for June: | |
Thank you for your support! | |
[Vietnam Briefing] Vietnam’s 2024 Law on Credit Institutions. Financial analysts anticipate that the forthcoming 2024 Law on Credit Institutions will bolster the security of Vietnam’s credit institutions through fortified risk prevention measures, heightened oversight of credit entities, and deterrence of cross-ownership and undue influence within the sector. | |
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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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