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AmCham HCMC & Danang Weekly Newsletter
August 22nd, 2024
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Vietnam and Thailand have become the fastest-growing e-commerce markets in Southeast Asia, with Vietnam overtaking the Philippines as the third largest in the region. Vietnam’s e-commerce market has seen an average annual growth rate of 16-30% over the past four years, the highest in Southeast Asia, with Shoppe and TikTok Shop being the primary drivers of this growth. Vietnam seems to have leapfrogged the retail mall phase of other countries to embrace the convenience of e-shopping.
Vietnam’s total trade turnover in July exceeded US$70 billion for the first time, of which exports reached a record of over $36 billion, marking the month with the highest export value ever. In the first seven months, exports reached $267 billion, up 15.7% over the same period last year. Imports were $213 billion, up 18.5%. However, both domestic and global challenges remain.
On August 12, Governor of the State Bank of Vietnam Nguyen Thi Hong met with U.S. Ambassador Marc E. Knapper to discuss enhancing cooperation in green finance and sustainable growth. There is much work to be done in this space.
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We are back in full swing at AmCham. This week five of our committees are holding meetings or organizing events, including our Women in Leadership Committee hosting "Women's Success Workshop: Health, Fitness, and Mental Resilience". As a reminder, AmCham will host its monthly Connect & Cocktails networking event next Wednesday evening at Hotel Equatorial HCMC where we will welcome our new Executive Director, Mr. Travis Mitchell, so please register if you have not done so already.
In terms of advocacy, this week we submitted our comments to Deputy Prime Minister Lê Thành Long on Food Fortification with Micronutrients, and we requested HCMC leaders for information on the implementation of labor procedures in response to Decree 84.
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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 from HCMC and Hanoi members are being compiled, before inputs by the Digital Economy & Technology Committee, our Advocacy Panel, and Hanoi chapter, and submission to the Ministry of Information and Communications (MIC).
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Draft Law on Digital Technology Industry: comments from HCMC and Hanoi members are being compiled, before inputs by the Digital Economy & Technology Committee, our Advocacy Panel, and Hanoi chapter, and submission to the Ministry of Information and Communications (MIC).
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Draft Amendment to Decree No. 09/2016/ND-CP on Food Fortification with Micronutrients: comments have been submitted to Deputy Prime Minister Lê Thành Long.
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Decree 84/2024-ND-CP on the Pilot of State Management Decentralization in HCMC authorities: request on the implementation regarding labor has been sent to HCMC leaders.
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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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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 VBF, in collaboration with the Ho Chi Minh City People's Committee, is excited to announce our upcoming Policy Dialogue in HCMC, scheduled on 18 September 2024 (Wednesday morning). Themed "DRIVING SUSTAINABLE GROWTH: OPTIMIZING ECONOMIC ECOSYSTEMS, TECHNOLOGY AND ENERGY", this highly anticipated event will bring together leaders from the local government authorities across the Mekong Delta and Southeast Region, alongside members of the enterprise community. The registration shall be closed by Monday, 9th September 2024.
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At Caravelle Hotel Saigon, 19-23 Lam Son Square, D1
Come learn how the US Consulate General is working to advance relations between the US and Vietnam, as well as to serve American citizens here in the country. Additionally, the Consulate General team will provide critical information about how Americans overseas can vote in the upcoming election in November 2024.
The evening will feature welcoming remarks from our Chairperson, RamC, followed by a briefing from Consul General Susan Burns. This event will also serve as a special occasion to introduce our newly appointed Executive Director, Travis Mitchell, along with our recently joined members.
After the briefing, attendees will have the chance to network and engage in one-on-one conversations with the Consulate General team, AmCham Governors, and fellow members.
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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: | |
[NhanDan] Transforming financial mechanism for net zero. Promoting the green transformation process to advance Vietnam's economy towards sustainable, green growth and integration with global development trends, is the noble goal of Vietnam's programme, to implement its commitment to net zero emissions. Mobilising resources to achieve net zero by 2050 and ensuring a fair energy transition will help Vietnam address the dual challenge of climate change and the urgent need to reduce greenhouse gas emissions while ensuring sustainable economic growth. | |
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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