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AmCham HCMC & Danang Weekly Newsletter
June 12, 2024
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Economic sentiment around the world was mixed last week. Following positive outlooks on the inflation front, the European Central Bank (ECB) and the Bank of Canada cut their benchmark rates. Sweden and Switzerland followed suit. In the US, a stronger-than-expected May jobs report published on Friday, has changed expectations on the Fed rate cut to September rather than July. The US equity markets seem to be unfazed by anything. The Vietnam economy seems to be on a positive trajectory but the growth momentum could be stronger. | |
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At the local level, we are supporting the development and launch of an investment outlook survey to U.S. investors led by the People’s Committee of HCMC. As a member of the workgroup formed by the U.S. Consulate and the city’s government earlier this year, AmCham will also help support further collaboration between our members and city agencies in the areas of financial services and healthcare innovation. Stay tuned for more details on these initiatives in the coming weeks and months.
We would like to welcome Paradox and Eddie's LLC as our newest Premium Members. Thank you very much for your support!
| More below on our advocacy efforts, a selection of news stories, and upcoming events and Committee meetings. | |
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We thank all members who have recently shared their comments on draft legislation currently being discussed.
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Letter to the Central Institute for Economic Management (CIEM) on difficulties affecting investment and business activities in the food sector: member input is being reviewed by the Food & Beverage Committee and Advocacy Panel before being sent to the CIEM this week.
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Draft Decree on Cybersecurity Administrative Sanctions: comments will be submitted to the Vietnamese Government this week, following review by the Advocacy Panel and Digital Economy & Technology Committee.
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Draft Value Added Tax (VAT) Law: comments were submitted to the National Assembly following review by the Tax & Customs Committee, Hanoi chapter, and Advocacy Panel.
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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[NhanDan] Deputy PM, US Secretary of the Treasury hold phone talks. Deputy Prime Minister Le Minh Khai held phone talks with US Secretary of the Treasury Janet Yellen on June 5, noting that her Vietnam visit in July 2023 paved the way for the upgrade of bilateral relationship to a comprehensive strategic partnership during US President Joe Biden’s official visit to Vietnam two months later. | | |
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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 three weeks to go for one of our most emblematic events of the year: AmCham's 29th Annual Independence Day Celebration & Community Picnic, on June 29th 2024 in Thao Dien!
Cheer to 248 years of American Independence with:
- Live performances by No Jive Jazz Band and Zunkbomb (rock, pop, blues, folk)
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Over 100 prizes including a round-trip airfare to the U.S., luxury resort stays, restaurant vouchers and many more at our multiple raffles
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Free Flow of American and international food and beverages including BBQ, burgers, hot dogs, and assorted beers and refreshments
- Fun activities for kids at the Kid’s Corner
Come celebrate the enduring spirit of American independence in the heart of HCMC. Buy your tickets today!
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Upcoming Committee Meetings | |
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Members are welcome to join, in-person or virtually:
Presentation: Attracting and Recruiting for Green Talent and Sustainability Staffing by Sam Haggag (Manpower) and Tran Le (New Energy Nexus); 2024 event and topic planning
Presentation: Using AI to improve decision-making and profitability by Rebeca Joy (SAIGON AI), Legal update on Advertisement Law; Presentation: Exploring Industry Professional Credentials Through The STIC Talent Mobility Portal by Thao Tran (ASU)
Presentation: Adjustment & development in organization culture by Nguyen Thi Bich Hong (HR2B)
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Interested in showcasing a recent achievement, product, service, or event?
Your AmCham membership offers you three complimentary announcements per year in our Weekly Newsletter!
Take advantage of this benefit to give your business exposure to over 7,000 readers in the Vietnam, U.S. and global business community.
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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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Paradox, new Gold Member
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
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! | |
Special Thanks to our Premium Members | |
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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