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AmCham HCMC & Danang Weekly Newsletter
July 24th, 2024
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Picture courtesy of The White House. President Biden and General Secretary Nguyễn Phú Trọng during the former's visit to Hanoi in September 2023. | |
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We extend our deep condolences to the Vietnamese people on the passing of General Secretary Nguyen Phu Trong. We join the people of Vietnam in mourning, and in honoring his enduring legacy.
General Secretary Nguyen Phu Trong’s made history in 2015 as the first Vietnamese party leader to officially visit the United States. His visionary leadership and dedication to fostering a robust relationship between Vietnam and the United States were instrumental in establishing the Comprehensive Partnership in 2013, which later evolved into the Comprehensive Strategic Partnership a decade later.
Our members are grateful for General Secretary Trong’s vision and leadership, and look forward to continuing our collaboration with government leaders and agencies to promote trade and investment between our countries.
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Vietnam’s construction sector recorded a 7.34% expansion in the first six months of 2024, the highest in the first half of a year in the 2020-2024 period, according to the Ministry of Construction. In this period, the real estate sector grew 2.45%. Property supply has shown signs of recovery with the re-launch of many projects.
Credit growth in the first half of 2024 was 6%, with expectations that the full year credit growth target of 14-15% will be reached. According to Fitch Ratings, leading banks in Vietnam are likely to sustain their profitability in the second half of 2024, with steady margins and higher trading gains expected to offset higher impairment costs. Strong backing from the banks and authorities is expected to support the gradual recovery in the real estate sector.
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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: members are asked to submit their comments to the Digital Economy & Technology Committee by COB Wednesday, July 31st. The Advocacy Panel and Hanoi chapter will then review them.
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Draft Law on Digital Technology Industry: members are also asked to submit their comments to the Digital Economy & Technology Committee by COB Wednesday, July 31st. These will also be reviewed by the Advocacy Panel and Hanoi chapter.
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Upcoming VBF Policy Dialogue
The Vietnam Business Forum (VBF), in collaboration with the Ho Chi Minh City People's Committee, will be hosting a policy dialogue tentatively scheduled for September in Ho Chi Minh City. This event will bring together leaders from provincial authorities in the Southern Region, including representatives from HCMC, and other key economic provinces such as Binh Duong, Dong Nai, Ba Ria - Vung Tau, Long An, Tien Giang, Ben Tre, and Can Tho, along with the Enterprise community.
The dialogue aims to foster discussions and collaborations on critical issues across various sectors. Key topics will include infrastructure development, labor skills, high-tech development, sustainable energy, green technology transformation, digital transformation, tax & customs, and recommendations to enhance the investment climate.
In preparation for this important dialogue, we invite you to submit issues you would like to address using the template below (in Vietnamese and English versions).
Your inputs will help shape a comprehensive and impactful discussion. Please send your issues and topics to the VBF Secretariat via email at info@vbf.org.vn by COB Friday, August 2nd, 2024 for further preparation.
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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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July 24, 6:00 pm - 8:30 pm
AmCham Connect & Cocktails
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At SORAE Restaurant and Lounge, Level 51, Bitexco Financial Tower, 36 Ho Tung Mau St., Dist. 1
Don’t miss July’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 Deloitte Coffee Lounge, 17th Floor, Times Square
57-69F Dong Khoi Street, District 1, Ho Chi Minh City
Language: English and Vietnamse (Simultaneous interpretation)
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Join this virtual event to learn more about the U.S. Consulate General Ho Chi Minh City’s Business Visa Facilitation Pilot Program (BVFPP)—a new initiative to make the business visa application process smoother and more efficient for companies opting to provide additional information regarding their operations and need to send personnel to the United States.
The BVFPP is currently accepting American companies in Vietnam that regularly send ten or more Vietnamese employees to the United States for business purposes annually, with priority for those sending 25 or more. There are no costs or fees associated with the BVFPP.
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August 9, 5:00 pm - 8:30 pm
[Co-Host] 59th National Day of Singapore
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At Intercontinental Saigon, Corner Hai Ba Trung St. and Le Duan Blvd., Dist. 1
“Together as One United People!”
The theme encapsulates our Nation’s success and resilience. While the road ahead is uncertain, our strength lies within our People, that has enabled us to overcome and flourish in the last 59 years.
This year, we would like to extend the celebration to fellow Business Chambers and Associations, to forge closer business ties and friendship together in Vietnam. Join our landmark annual event of SingCham to celebrate our National Day with Singaporean food, culture, and friendships.
Format: Networking Reception with Standing-Buffet featuring Singaporean cuisine
Attire: Festive Red and White/ Smart Casual
Parking: Free
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Upcoming Committee Meetings | |
Committee Meetings will resume in August. | |
Latest offers for our members! | | |
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Preferential price
Accommodation from $135++
10% off
on F&B, Spa, and Water Sports activities.
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10% off
on room rate
and inclusive of 01 breakfast
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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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We would also like to extend our warmest welcome to our newest members for July: | |
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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