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Dear AmCham,

Inflation data coming out of the U.S. last week was better than analysts predicted, with consumer prices rising 0.3% from March to April, below the reading for March (0.4%), and showing a small decrease year-over-year to 3.4% from 3.5%. Inflation having remained above expectations in the first three months of the year, the latest reading seems to have revived hopes for a Fed rate cut later this year, with the Dow Jones and S&P 500 indices hitting all-time highs last week.

On Friday May 17th, leaders of our Healthcare Committee met with counterparts from the HCMC Department of Health to discuss and plan closer collaboration on advocacy topics highlighted in April’s Healthcare Dialogue between AmCham HCMC and city leaders. Pictured are Governors Dr. Lan Dam (MSD) and Philip Ziter (Russin & Vecchi), and Healthcare Committee Co-Chair Luke Treloar (KPMG Vietnam) with Healthcare subcommittee leaders and representatives of member companies Pfizer, Allianz Partners, Pharmacity, and P&G.

Earlier in the week, we hosted a delegation of undergraduate students from the University of Texas during their visit to Vietnam as part of their immersion program focused on conducting business in Asia Pacific. Vice-Chair Winnie Wong, along with Education & Training Committee Secretary Robert Connolly (Crossroads Management Consulting), and Calvin Lam (InDe Pacific Capital), shared insights into cultural differences operating in Vietnam, opportunities and challenges, and their own journey in the country.

Coming up next month is one of our signature events of the year: the 29th Annual Independence Day Celebration & Community Picnic that will take place on Saturday June 29th. With over 1,000 guests expected, this is unique exposure for businesses and organizations. There is still time to apply for sponsorship packages, more details below.

Please keep your feedback coming at team@amchamvietnam.com.

RamC

We thank all members who have recently shared their comments on draft legislation currently being discussed.

• Draft Decree on Liquefied Natural Gas (LNG): we are seeking comments from members through May 24th. Received comments will be compiled for review by the Energy Committee and the Hanoi chapter before being submitted to the Ministry of Industry and Trade (MoIT).

• Draft Decree on Rooftop Solar Power: comments from members are being compiled for review by the Energy Committee and the Hanoi chapter before being submitted to MoIT.

• Draft Union Law: comments have been submitted to the Ministry of Labor, Invalids and Social Affairs (MoLISA).

• Draft Employment Law: comments have also been submitted to MoLISA.

Members are encouraged to bring forward any advocacy needs or related questions the relevant Committees, or by email to advocacyaction@amchamvietnam.com.

[Reuters] Vietnam Deputy PM: economy facing mounting pressure. Vietnam's economy is facing mounting pressure and the government will maintain policies that support growth, Deputy Prime Minister Le Minh Khai said on Monday.

[The Investor] Vietnam lending growth crawls to 1.6% as of April 23. Credit growth in the Vietnamese banking system had reached 1.6% in the year to April 23, according to a government report.

[Reuters] As US hikes China tariffs, imports soar from China-reliant Vietnam. As the United States intensifies efforts to reduce trade with China by hiking tariffs, it has greatly boosted imports from Vietnam, which relies on Chinese input for much of its exports, data show.

[Vietnam Investment Review] USAID funds $11 million to help Ho Chi Minh City achieve net-zero emissions goal. On May 17, the United States Mission to Vietnam, through the US Agency for International Development (USAID), and Ho Chi Minh City Department of Industry and Trade (DoIT) celebrated their joint success in a five-year partnership advancing renewable energy and energy efficiency in the city.

[VN Express International] US semiconductor giant Marvell Tech launches third office in Vietnam. The U.S.-based Marvell Technology Inc. on Friday announced that it has opened an office in the central city of Da Nang, the third of its kind in Vietnam along with two others in Hanoi and Ho Chi Minh City.

[VN Express International] Investment firm to sell out government stakes in FPT, other companies. The State Capital Investment Corporation, Vietnam’s sovereign fund which also handles the government’s financial investments, plans to divest from 31 companies including tech giant FPT.

[Tuoi Tre News] Masterise Homes tops out Marina Central Tower in Ho Chi Minh City. Masterise Homes has officially completed the structural framework of the Marina Central Tower, part of the Grand Marina Saigon masterplan – a prestigious branded residence complex located at 2 Ton Duc Thang Street, Ben Nghe Ward, District 1, Ho Chi Minh City.

[CNA] Sweltering heat across Asia was 45 times more likely because of climate change, study finds. Sizzling heat across Asia and the Middle East in late April that echoed last year's destructive swelter was made 45 times more likely in some parts of the continent because of human-caused climate change, a study on Tuesday (May 14) found.

Members are welcome to join, in-person or virtually:



• Healthcare Committee Meeting: Wednesday, May 22 - 4:15pm

• Women in Leadership Committee Meeting: Tuesday, May 28 – 4:30 pm

We would like to extend our warmest welcome to our newest members. Thank you for your support!