Dear AmCham,

AmCham HCMC remains actively engaged in various activities in the weeks leading up to the Lunar New Year celebration.

Last week, AmCham was honored to host a luncheon featuring Undersecretary Jose W. Fernandez in HCMC. Serving as the Undersecretary of State for Economic Growth, Energy, and the Environment, Mr. Fernandez plays a pivotal role in the Biden-Harris Administration's initiatives related to climate change, clean energy, health, supply chain security, and other economic priorities. AmCham members acknowledged the invaluable insights Undersecretary Fernandez offered, providing participants a unique perspective on the challenges and opportunities that lie ahead. Discussions were extensive and fruitful, focusing on the Indo-Pacific strategy to strengthen supply chains, growing the global semiconductors ecosystems, and the clean enabling energy transition.

On January 26 in Hanoi, AmCham Vietnam HCMC Vice Chair Michael Nguyen along with several distinguished AmCham members, had the pleasure of attending the Year-End Party hosted by the Ministry of Planning and Investment. The event held special significance with the presence of Prime Minister Phạm Minh Chính. In his New Year address to attendees, Prime Minister Chính highlighted the three pillars of the country's development policy: a socialist democracy, a socialist rule of law, and a socialist-oriented market economy. He added that across these pillars, the country considers people as being the central focus for development. AmCham representatives, alongside counterparts from various international organizations and foreign investors, extended congratulations to Vietnam for overcoming challenges and achieving significant milestones amid the global economic downturn.

That same week, the turnout at our inaugural Connect & Cocktails event of the year at the Wink Saigon Hotel was fantastic! Our special thanks to Wink Saigon Hotel, Mercure Danang Bana Hills French Villa, and Novotel Saigon Centre for their generous contributions of fabulous prizes for the lucky draw. Their support made the event even more exciting. 

Mark your calendars for our upcoming February Connect & Cocktail on February 28th – venue details to be confirmed.

This week, we are thrilled to announce a workshop on "Work Permit - Explanation Techniques of Difficult Documents" scheduled for Thursday, February 1 and sponsored by Le & Tran Law. Conducted in Vietnamese, the session will address common challenges in the procedures and regulations for obtaining a work permit, and provide strategies for effectively interpreting complex documents. A Q&A session will follow.

We value your input on how we can enhance our services to better support you. Please share your feedback with us at team@amchamvietnam.com. Wishing you a wonderful week ahead!

Ramachandran A.S.

Have you renewed your AmCham Membership for 2024?

Please be on the lookout for 2024 Membership Renewal notices to renew promptly, and contact Membership Manager Sam Hoang if you don’t receive one. In the context of the recent U.S. and Vietnam Comprehensive Strategic Partnership, your membership is more valuable as we have enhanced our Committees, Business Intelligence events, and Advocacy efforts, particularly for Premium members.

If you are not yet a member, we encourage you to become one and take advantage of our membership benefits! 

An AmCham Premium membership allows you to showcase your business as a leader in its field and strategically support AmCham Vietnam's mission and programs. With a Premium Membership, you gain access to a variety of benefits and exclusive VIP privileges. Tailored packages are also available to meet your specific needs. 

For further details, please visit the provided LINK or reach out to Office Manager Cindy Tran.

AmCham members are welcome to join, in-person or virtual

Logistics & Supply Chain Committee Meeting, Wednesday, Jan 31 – 9:00am

Environment, Social and Governance (ESG) Committee Meeting, Tuesday, Feb 6 – 4:00pm

Implementation of the survey of Department and District Competitiveness Index (DDCI) of Ho Chi Minh City 2023

AmCham is proud to take part in the Department and District Competitiveness Index (DDCI) survey led by the Investment & Trade Promotion Center of Ho Chi Minh City for 2023. Members are encouraged to make their voices heard by taking the survey. 

City leaders in HCMC are keen on understanding the insights and recommendations from Foreign Business Associations to aid the municipal government in assessing the effectiveness of economic management within local departments. Your input is valuable for identifying and addressing obstacles, ultimately contributing to the enhancement of the city's business and investment environment.

[Bloomberg] Surging Vietnam exports signal hope for global demand recovery. Vietnam’s exports climbed at the fastest pace in more than two years in January, a performance attributable largely to a weaker year-ago showing than a return of global demand.

[Vietnam Investment Review] $2.36 billion of FDI flows into Vietnam in January. Vietnam lured over $2.36 billion in registered foreign direct investment (FDI) capital in January 2024, an increase of 40.2 per cent against the same period in 2023.

[Reuters] Vietnam says US 'non-market economy' label is bad for bilateral ties. Vietnam's ambassador to the United States on Tuesday urged Washington to end its "non-market economy" label on Hanoi, warning that maintaining the resulting punitive duties on Vietnamese goods is bad for increasingly close bilateral ties.

[Nikkei Asia] Vietnam is a top target for CHIPS Act aid funds, U.S. says. Washington is prepared to pump funds into Vietnam's chip sector to shore up supply chains and wants the country to "take advantage" of its bid to reduce reliance on China, a visiting U.S. envoy said.

[Vietnam Briefing] Draft Amendment to Vietnam’s Pharmacy Law Proposes New Incentives for Foreign Firms. The Ministry of Health has released a draft amendment to the Pharmacy Law that would give foreign pharmaceutical companies more rights and incentives.

[VietnamNet] New land law creates new momentum for Vietnam to become high-income country. The amended Land Law is expected to provide a firm legal framework to enhance land management efficiency and create new momentum for Vietnam to become a high-income country by 2045.

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