AmCham Vietnam Weekly Update - 19th Week of 2020 - May 9, 2020
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Colleagues, we hope you are enjoying the rare freedoms we have in Vietnam now that most of the COVID restrictions have been lifted. And we expect that most of you with children are delighted that most schools have reopened!
In a May 9 meeting with government and business leaders from all 63 provinces and provincial-level cities, Prime Minister Phuc said that Vietnam’s successful control of the COVID outbreak provides a unique opportunity for Vietnam’s economic recovery and future economic growth.
He highlighted opportunities to develop domestic supply chains, the digital economy, domestic tourism, and encouraged taking full advantage of FTAs. He welcomed foreign chamber and domestic business association recommendations on how to improve the business environment. (Thanks to your contributions and our COVID Task Force, AmCham did our part !)
I was honored to represent AmCham Vietnam-HCMC, joining the PM meeting virtually, together with HCMC Party Secretary Nhan, Chairman Phong, and other HCMC government officials and local business leaders.
AmCham staff continue to work hard on your behalf. We are happy to finally be able to reopen for visitors and host in-person meetings and events at our office in the New World Hotel starting next week. Temperature screenings and use of hand sanitizer will be required on arrival to the hotel. Many of our committee meetings will still take place virtually this month. As we resume physical meetings, we will hold most all our events and meetings in a hybrid form to continue to facilitate remote participation for our members throughout Vietnam, the region, and the world (time zones permitting).
We are delighted to be able to once again hold a live AmCham 101 New Members Orientation at the New World on Tuesday, May 26 and a live Connect & Cocktails networking event poolside at The Reverie Saigon on May 27.
We look forward to seeing many of you next week at our virtual Energy and Legal & VBF Committee meetings, and encourage you to join two virtual events: a seminar Wednesday morning on Tax Issues in Uncertain Times hosted by EY, and on Thursday morning, The Future Factory hosted by Manpower Group.
We hope you have participated in our week-long Cinco de Mayo fiesta event, supporting local restaurants and enjoying delicious Mexican and Tex-Mex cuisine and margaritas -- dine-in, take-out, or delivery, District Federal's discount for AmCham members - takeout or delivery only - lasts all month long!
Meanwhile, we want to let you know what AmCham Vietnam-HCMC is doing to support you in response to the COVID-19 outbreak and generally as we reopen and work toward economic recovery. We also welcome your feedback at
team@amchamvietnam.com
to let us know how we can serve you better, including what topics you would like to see covered in upcoming events. A summary of recent actions is below:
1. Policy Recommendations.
AmCham Vietnam-HCMC continues to make an impact. Thanks to your feedback and recommendations, and expert advisers in our COVID19 Policy Task Force (particularly Baker & McKenzie's Fred Burke, Nguyen Thuy Hang, Nguyen Thanh Vinh, and Chung Yee), we are providing timely, constructive recommendations to the Vietnamese government on policies to support the control of the COVID-19 outbreak, while minimizing the negative economic impact on the economy and people of Vietnam, and our members. This week, much of our focus was on coordinating advocacy on non-COVID issues, including a joint position paper with AmCham Hanoi on the draft PPP law, feedback to MOH on recommended regulatory reform and recommendations to the VBF Power and Energy Working Group. We also shared some additional policy recommendations in an interview I did with Tuoi Tre, published today
https://tuoitre.vn/ghi-diem-trong-dich-covid-19-co-hoi-cho-viet-nam-tang-toc-chuyen-doi-so-20200508200016333.htm
,
so far just in Vietnamese.
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2. Contributions of Goods and Financial Contributions by AmCham and our Member Companies to Support the Vietnamese Government's Response.
AmCham Vietnam-HCMC commends the effectiveness of actions taken by Vietnamese Government leaders in response to the COVID-19 pandemic and is proud of the contributions toward this response made by our member companies. We are delighted to see Vietnam's response finally getting global recognition.
We regret the delay, but hope that we will (at last!) be announcing an appeal next week for another COVID-19-related donation, this time to the HCMC Centers for Disease Control. We are ensuring due diligence as we facilitate purchase of a RNA/DNA extractor and a PCR analyzer. They are both critical equipment for COVID and beyond. The total cost will be about $120,000. We hope you will be able to contribute to this important cause. Thank you to those who already have contributed. We hope to be able to arrange delivery to HCMC CDC late next week - we will keep you informed!
Meanwhile, we are happy to highlight any COVID-related contributions from our member companies on our social media and with the U.S. Mission. Please email details to
Cindy Tran
.
3. Identifying companies that want to manufacture Personal Protective Equipment for export to the United States.
The U.S. Agency for International Development (USAID) has asked AmCham for assistance in identifying companies that may want to manufacture PPE for export to the United States. USAID is coordinating this initiative through the LinkSME program. If your company has interest/capability in manufacturing and exporting PPE, please contact Frank Weiand at
fweiand@linksme.org
for more information. We have had some AmCham companies express interest in a virtual workshop to help guide them through the regulatory requirements both in Vietnam and the United States. If you are interested, please let us know at
team@amchamvietnam.com
.
4. Supporting Local Business.
We are happy to see some of the lockdown measures lifted, but know many businesses in Ho Chi Minh City and throughout Vietnam are struggling, due to the COVID-19 virus outbreak. The impact of the outbreak has been particularly hard on small, local businesses. We at AmCham want to support local businesses which contribute so much to our quality of life in Vietnam by inviting them to join our 2020 AmCham Discount Partnership Program. Please consider joining for your company or refer a favorite local business by sending their email address or a copy of their business card to Membership Manager
Sam Hoang
. To our members, please make sure you support our Discount Partners, many of which now offer online shopping or delivery services. Click
HERE
for our Discount Partners information.
5. Supporting Vietnam's Front-Line Workers.
To continuously support the Vietnamese Government in the COVID-19 fight, AmCham Vietnam-HCMC would like to call for your contribution of less perishable food items to some of the front-line workers in Vietnam's hospitals and public quarantine areas. We are working with the Vietnam Fatherland Front of HCMC for this campaign. Contact Office Manager
Cindy Tran
, who can ensure contributions are still welcomed and coordinate delivery.
Please stay well and be safe in our new normal environment!
Mary Tarnowka, Executive Director
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Stay Informed- Coronavirus Disease 2019 (COVID-19) Outbreak
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The COVID-19 situation is changing rapidly throughout the world, including in Vietnam. Vietnam is increasingly being recognized as a global leader for the effectiveness of its response. It has had 23 consecutive days of no local transmission, 288 total cases, 241 recovered, and 0 deaths; 14,403 individuals are now under quarantine or isolation.
Recommended precautions for most healthy individuals are careful hand washing, avoiding touching your face, disinfecting frequently-touched hard surfaces, wearing a mask when out in public, and practicing social distancing, including avoiding crowded or large gatherings.
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Some additional tips below from Dr. Mason Cobb, Vice-Chair, and Dr. Andy Meadows, of AmCham Healthcare Committee’s Medical Providers Subcommittee:
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The entire world has been fighting the war against COVID for the last several months, but rays of sunlight have started to emerge from a still cloudy sky. Recent days have seen the lifting of some of the most restrictive social distancing measures. Here in Viet Nam, last week's holiday weekend ushered in a new phase of easier travel and enjoyment, all while maintaining responsible behaviors. Additional restrictions were lifted Thursday
http://news.chinhphu.vn/Home/Govt-chief-allows-resumption-of-nonessential-services/20205/40021.vgp
One positive recent report reverses troubling early data from places such as South Korea suggesting patients were retesting positive after having previously recovered from COVID. A more detailed analysis has demonstrated this does not reflect a reoccurrence of active infection, but rather dead or inactive virus fragments remaining inside the body. This welcome finding shows that we likely gain immunity after being infected with the virus and patients are not being infected a second time.
Also encouraging, results of an important clinical trial involving the drug Remdesivir were announced. This drug was originally developed to treat Ebola disease, but it was not approved for that purpose. The study examined more than 1,000 patients and those given Remdesivir recovered in an average of 11 days, compared to 15 days for placebo – a 31 percent improvement. Based on these results, the US FDA granted an Emergency Use Authorization for Remdesivir to allow more doctors and patients access to the medication, as well as to facilitate additional studies.
While we can take a moment to appreciate the good news this week and acknowledge the ongoing work of medical professionals, scientists, business leaders, and others; we also must recognize that challenges remain. COVID will likely stay with the world in some form until about two-thirds of the global population gains immunity – either through infection or immunization. The timeline to achieve that level is forecast at about 2 years.
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Delicious Mexican, Tex-Mex food, margaritas, and beer – all week long!!
Instead of just one day of celebrations, this year, we will celebrate Cinco de Mayo all week long – to support more local restaurant partners, and give you more time to enjoy their delicious food and drinks, at their restaurants, or in the comfort of your home. Special prices for AmCham Members, for dine-in, take-out, or delivery. Celebrate all week and try each restaurant!!
Please click below links for menus and special offers during the Cinco de Mayo week, from May 4 to May 10. Please contact the restaurants directly to book a table, or order for pick-up or delivery.
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8:45-10:30am. Please register to get the link for virtual attendance.
Our presentation Tax Issues in Uncertain Times covers two broad themes.
Firstly, 30 March 2020 was the filing deadline for corporate income tax returns for many companies operating in Vietnam. The EY tax team prepared or reviewed the tax returns of hundreds of companies. We want to take this opportunity to highlight common errors and risk areas that we identified in doing this work – this will include both corporate income tax and transfer pricing issues. In many cases the errors and risks can be rectified. This may be particularly important this year as there could be increased pressure on Tax Authorities to ensure companies are compliant. In this part we will also cover recent proposed changes to Decree 20 dealing with limits on interest deductibility.
Secondly, the COVID-19 pandemic has given rise to a number of specific tax related issues. On the positive side many countries, including Vietnam, have introduced tax relief measures. We will discuss these. We will also discuss other practical matters you need to consider as a result of the change in business circumstances – such as transfer pricing issues that could arise if your profit falls, the deductibility of donations and obsolete stock, changes to supply chains, and other matters.
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6:00-7:30am. Please register to get the link for virtual attendance.
Despite COVID-19, Vietnam is projected by the International Monetary Fund to be the fastest growing economy in the fastest growing economic region of the world. With this in mind, this second event in our Columbia Bank Going Global Series will focus on opportunities in Vietnam as a manufacturing and sourcing destination as well as an export market.
Through an interactive panel discussion with live Q&A from participants, we will learn from the first-hand experiences of former US Commercial Service experts, a Western manufacturer in Vietnam, and a newly-returned local marketing executive who has explored the potential of Washington wine sales.
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8:45-10:30am. Please register to get the link for virtual attendance.
Digitization, automation and transformation are impacting every industry, disrupting skills and creating new jobs. Manufacturing is the vanguard, with new roles appearing as fast as others become obsolete. ManpowerGroup Vietnam’s “Manufacturing Skills Evolution in the Digital Age” will share valuable insights from leading experts on the future factories and how to prepare for this transformation.
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4:00-5:00pm. AmCham Office, Room 323, 76 Le Lai Street, District 1
At this new members event, you will learn more from our Executive Director, Mary Tarnowka, about AmCham Vietnam benefits, our mission, and programs to help new members achieve success, and how to get involved in and maximize your investment in AmCham membership. It is also a way to meet other new AmCham Vietnam HCMC members. While this event is designed for new members, we welcome other members on a space available basis. Contact
Ms. Sam Hoang
for more information.
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6:00-8:30pm, The Reverie Saigon's Poolside, 22-36 Nguyen Hue Boulevard, District 1
AmCham will continue our monthly informal networking event – AmCham Connect and Cocktails! The social distancing directives liberalized so we can hold our event at the poolside of The Reverie Saigon. Our AmCham Connect & Cocktails 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. Please plan to join for a great night of networking and our essential Lucky Draw!!
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April 2020 - TÜV Rheinland cements chemical management lead with approval for ZDHC Level 3 MRSL 2.0 conformance testing and certification
This development means that TÜV Rheinland now offers customers a genuine, one-stop solution for all three focus areas of the ZDHC’s “Roadmap to Zero” initiative and Greenpeace’s DETOX campaign – Inputs, Processes, and Outputs – through its next-level TOXPROOF Testing and Certification program.
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The Global Health Crisis has made our already disruptive reality even more challenging. The world will never be the same again and many organizations will never return to what we knew as normal.
More than ever Corporate leaders need to look at steps they can take to not only react to severe changes in business but also to reshape their business and plan for Recovery.
How do you RESTART your business in new ways that you may never had been thinking about before?
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The Booklet of Winning Litigation Strategies at Court and Arbitration will help you understand how to: (i) effectively file a lawsuit, (ii) use counterclaims as a defense strategy, (iii) collect and use evidence to strengthen your case, (iv) utilize winning methods for settlement negotiations and mediation, and (v) successfully navigate trial and arbitration hearings.
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Committee Meetings & Activities (For AmCham Members Only)
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9:30-10:30am. Please register to get the link for virtual attendance.
Regular monthly meeting of the committee to review upcoming events, discuss and prepare positions on key issues, laws and regulations relating to trade and investment between Vietnam and the United States.
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5:00-6:15pm.
Please register to get the link for virtual attendance.
Regular monthly meeting of the committee to review upcoming events, discuss and prepare positions on key issues, laws and regulations relating to trade and investment between Vietnam and the United States.
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9:30-10:00am. Please register to get the link for virtual attendance.
Monthly meeting to discuss 2020 priorities.
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AmCham Premium Membership
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The AmCham Premium Membership 2020 is a leadership-level membership for companies contributing strategic support for AmCham's mission and programs. Our Premium Membership comes with a range of exclusive benefits. One all-inclusive Premium Membership's annual billing simplifies your businesses' sponsorship efforts.
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We love our AmCham members! Do you know all the benefits you get with your membership? Maybe you only remember the ones you've used recently, but there are many ways even our basic level members benefit at AmCham.
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The American Chamber of Commerce in Vietnam
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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