Dear AmCham,

Earth Day is celebrated annually on April 22nd, and marks the anniversary of the birth of the environmental movement in the United States in 1970. It is also intended to to raise awareness of the need to protect Earth’s natural resources for future generations. The official theme of Earth Day for 2024 is “Planet Vs. Plastics”. AmCham joins this week’s Earth Day celebrations, and remains committed to promoting sustainable trade and investment between Vietnam and the United States.

A Task Force has been set up between the U.S. Consulate General and the HCMC People's Committee with the purpose of advancing the recent U.S. - Vietnam Comprehensive Strategic Partnership (CSP) in the context of the city's socio-economic development. Comprised of representatives of both bodies, it also includes a representative from our Board of Governors to promote our members’ interests. The work group focuses on three main areas for collaboration: (1) Bolstering Technology, Innovation and the Digital Economy, (2) Accelerating Green Growth and Sustainable Development, and (3) Education, Training and Workforce Development. Stay tuned for more updates.

We will be hosting a special edition of our monthly Connect & Cocktails networking event this evening at the Grand Marina, Saigon Gallery, sponsored by member company Masterise. Register for an exclusive tour of the Marriott Residences at Grand Marina as part of the event, in addition to our usual AmCham trivia and Lucky Draw. See more details below.

The HCMC Department of Industry and Trade (DOIT) is inviting all AmCham members to participate in the 2024 HCM City Export 2024 Vietnam Outstanding Export Products Fair. This event brings together Vietnamese manufacturing and exporting businesses, foreign-invested companies, local and provincial agencies, and industry associations of key export sectors of HCMC. More details below.

Please note our office will be closed from Monday, April 29th to Wednesday, May 1st, in observance of the Vietnam Reunification Day and International Labor Day holidays. We will reopen on Thursday, May 2nd. This Weekly Newsletter will return on Wednesday, May 8th. Enjoy the holidays!

Please email us at team@amchamvietnam.com to provide your feedback.

RamC

Your voice as an AmCham member matters. Thank you to all members who recently shared their comments on draft laws.

• We are seeking comments on the draft Direct Power Purchasing Agreement through Wednesday, April 24th at 12pm noon. These will be compiled and reviewed by VBF's Power Energy Group to issue a position paper.

• We are also seeking comments from members on the Draft Union Law through May 10th. Once compiled, these will be reviewed by the Human Resources and Manufacturing Committees.

• Draft Employment Law: we are compiling received comments to be reviewed by the Human Resources and Manufacturing Committees.

• Draft Value Added Tax (VAT) Law: we are compiling received comments to be reviewed by the Tax & Customs Committee and the AmCham Hanoi chapter.

• Draft Electric Law: comments received are being reviewed by the Energy Committees from HCMC, Hanoi, and Danang.

• Draft Advertising Law: comments received were reviewed by the Food & Beverage and Manufacturing Committees, and sent to the Ministry of Culture, Sports and Tourism.

We encourage all of you to bring forward any questions or advocacy needs to the relevant Committee or by email to advocacyaction@amchamvietnam.com.

[VOV] Banks requested to further cut lending rates to support business production. Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam to direct banks to further lower lending rates to increase the economy’s access to capital.

[Reuters] Vietnam continues support for bank engulfed in massive fraud, central bank says. Vietnam's central bank said on Friday it had continued providing support to Saigon Joint Stock Commercial Bank (SCB), which it put under special supervision in October 2022 after a run on its deposits.

[CNA] Vietnam set to launch new stocks trading system in bid for market upgrade. Vietnam is readying the launch next week of a new stocks trading system that would speed up settlement of transactions, as part of reforms aimed at upgrading the country's stock market and attracting more foreign investors.

[Vietnam Investment Review] MoIT proposes scheme to boost renewable energy procurement. The Ministry of Industry and Trade (MoIT) has put forward a proposal that would allow manufacturers to directly procure electricity from renewable energy plants, either through Vietnam Electricity (EVN) or independently.

[AP] Apple CEO says that he wants to increase investments in Vietnam. Tim Cook said Tuesday that he wants to further increase investment in Vietnam a day after the company announced it would spending on suppliers in the Southeast Asian manufacturing hub.

[Vietnam Investment Review] Suntory PepsiCo breaks ground on its largest Asia-Pacific plant in Vietnam. Vietnam has broken ground on its sixth plant in Vietnam. CEO and general director Jahanzeb Khan told VIR’s Bich Ngoc about the significance of the facility.

[BBC] An expert's guide to the best banh mi in Ho Chi Minh City. Vietnamese American chef and author Andrea Nguyen scours the backstreets of former Saigon for the famed sandwiches, from classic breakfast options to after-dark favourites.

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



• Logistics & Supply Chain Committee Meeting: Wednesday, Apr 24 – 9:00am

Topics will include “On-spot Export – Import Arrangements” and revised Customs “Risk management” regulations

• HR Committee Meeting: Thursday, Apr 25 – 9:00am

Topics will include Future Ready Workforce (Reskilling & Upskilling) and the Draft Employment Law

• Capital Markets and Financial Services Committee (CMFSC) Meeting: Monday, May 6 – 4:00pm

Topics will include potential FTSE upgrade

• Education & Training Committee Meeting: Wednesday, May 8 – 9:00am

• Legal & VBF Liaison Committee Meeting: Wednesday, May 8 – 5:00pm

• Environment, Social and Governance (ESG) Committee Meeting: Thursday, May 9 – 5:30pm

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