AmCham Vietnam Weekly Update - 2nd Week of 2021

AmCham Vietnam Weekly Update -

2nd Week of 2021 - January 17th, 2021

Executive Director Update

Colleagues,

We hope you are enjoying the pleasantly cool winter weather in Vietnam as we approach the Tet season. I am enjoying hearing the birds with windows open and AC finally off!

HCMC Board of Governors 2021 Strategy Offsite. Your dedicated Board members from HCMC plus Chris Vanloon from Da Nang were hard at work on Saturday afternoon at our annual strategy offsite at the Mia Saigon, with Chairman Chad Ovel joining us virtually from Iowa (his 12-4AM!), and our newest Board member, newly-arrived Coca Cola General Director for Southeast Asia Leonardo Garcia, joining us virtually while still in quarantine! LINK to Board member bios. We identified preliminary key goals for 2021, as well as values we seek to uphold. Excellent facilitation by Mekong Capital’s Director of Digital Transformation Max-F Scheichenost and support by AmCham Office Manager Cindy Tran and Events and Committees Manager Lily Nguyen!

Key Events. We hope many of you will join us on Tuesday afternoon for our special session on 2020 Vietnam Business Forum Outcomes and 2021 Outlook, with an all-star cast of speakers, and a follow-on networking session at the Caravelle (or virtually) and a Wednesday late afternoon session on Aligning your Career Plans and Ambition with special guest speaker and Oxalis Adventure Founder and CEO Nguyen Chau A. Also note this week’s Digital Economy and Technology, Tax and Customs, and Food and Beverages Committee meetings (latter in Hanoi). I look forward to joining the Da Nang People’s Committee Tet Party on January 21 and the F&B Committee dinner in Hanoi on January 22! And mark your calendars now for our January 26 AmCham 101 and Connect & Cocktails in HCMC, and our January 29 Connect & Cocktails in Da Nang!

Partnerships with U.S. and Vietnamese Governments. Political transitions are underway in both Washington and Hanoi. We are hopeful that the Inauguration of the Biden-Harris Administration goes smoothly on January 20 at noon (EST, our January 21 midnight). Rumors abound; we look forward to learning who will be the future top leaders of Vietnam, to be determined at the National Party Congress in late January. AmCham, as a non-partisan business association, will continue to work closely with the new leadership of both the U.S. and Vietnamese governments to promote trade and investment between the United States and Vietnam and serve as the voice of U.S. business in Vietnam. We are honored to partner with Ambassador Daniel Kritenbrink, Consul General Marie Damour, and the U.S. Mission in Vietnam to advance our shared interests, and value the contributions of our Honorary Board Liaison Alex Tatsis and Stephen Jacques. https://www.amchamvietnam.com/our-partnership-with-us-mission-vietnam/

Daniel Kritenbrink

U.S. Ambassador to Vietnam

Marie C. Damour

U.S. Consul General

Robert J. Greenan

Deputy Principal Officer

Stephen Jacques

Principal Commercial Officer

Alex Tatsis

Economic Section Chief

USTR Section 301 Currency Investigation Determination. One of our top advocacy actions the last few months has been responding to the 301 investigations initiated by the Office of the U.S. Trade Representative (USTR) on currency manipulation and import and use of illegal timber. Together with AmCham Hanoi, we filed joint comments on the USTR currency investigation. AmCham Hanoi Chair and 2020 AmCham National Chair Ginny Foote testified on the currency investigation, and also filed rebuttal comments last week. https://ustr.gov/about-us/policy-offices/press-office/press-releases/2021/january/ustr-releases-findings-section-301-investigation-vietnams-acts-policies-and-practices-related

On January 15, USTR made a finding that Vietnam manipulated its currency, but imposed no punitive measures, deferring action to the Biden-Harris Administration. This was a huge relief, given earlier reports that the Trump Administration might impose immediate tariffs of up to 25% on Vietnamese exports to the United States. Under the Treasury Department’s separate finding that Vietnam is a currency manipulator, “enhanced bilateral engagement” already has begun with the State Bank of Vietnam. The Section 301 timber investigation is ongoing.

Membership Renewal. For many of you, it's time to renew your membership for 2021 and continue your involvement in AmCham, with opportunities for professional networking, business intelligence, advocacy to improve the business environment, and promotion of your business. We have been sending out 2021 Membership Renewal notices via email. We hope you all will renew promptly and that many of you will consider upgrading to become premium corporate members to demonstrate your company’s leadership and receive customized benefits.

Premium Members. AmCham Premium Membership offers qualified companies an opportunity to highlight their status as business leaders in Vietnam, as well as their strategic support for AmCham Vietnam’s mission and programs.

With the support of premium members, AmCham is able to carry out its mission more strategically.

Our Premium Membership comes with a range of exclusive benefits. To learn more, please click HERE. Premium membership can be designed on a customized basis to align with your corporate priorities.

We welcome our new and continuing premium members already for 2021:

Message from AmCham Vietnam - Da Nang Vice Chair Chris Vanloon

"Greetings from Danang. Special thanks to Ms. Vo Thi Hien from One Sky for all children for taking the time this week to give us a tour of her wonderful school in Danang. One Sky is a PPP project which brings international education for children whose parents work in the industrial zones of Danang City. While the school has space for 252 students, One Sky also provides training throughout Vietnam for independent care facilities that reaches over 15,000 students between the ages of 6 months and 6 years! We are so proud that One Sky has been a member of AmCham and we look forward to assisting it in the future, including our joint meeting with the Director of Foreign Affairs Mr. Huynh Duc Truong this past week as well. Keep up the good work!”

Advocacy

In addition to Section 301 investigation advocacy noted above, last week we also filed a statement expressing concerns about the new IP Law amendments and the negative effect they could have on potential technology and high-value manufacturing investment in Vietnam, and requested additional time to file more detailed comments.

Upcoming Events

Tuesday, January 19

2020 Vietnam Business Forum Outcomes and 2021 Outlook

4:30-7:00pm, Caravelle Saigon Hotel, 19-23 Lam Son Square, Dist. 1

Please join us on Tuesday afternoon, January 19, for our 2nd annual AmCham Business Intelligence Event, Vietnam Business Forum Outcomes and Outlook, to get a concise readout of the key outcomes from the December 2020 VBF meetings in Hanoi and an outlook on the key issues for 2021. We will have a high-powered group presenting, including: IFC Country Manager Kyle Kelhofer; 2020 AmCham National Chair and AmCham Hanoi Chair Ginny Foote; 2020 AmCham VBF Rep Fred Burke; representatives from the other four VBF Consortium members - KOCHAM, Eurocham, JCCI, and Britcham; and nine of the 11 VBF sectoral working group leads. The event is an efficient way to get a briefing on the full range of issues affecting your businesses, from like-minded experts working to improve the trade and investment environment. It's also a good way to learn more about the role of the VBF and how your company can get informed about and involved in Working Groups in which you have interest to ensure your views are represented. Yours truly will MC and Fred Burke will moderate a panel discussion to keep a tight schedule and ensure time for audience Q&A. Participation is possible both in person at the Caravelle Saigon or virtually. Those who attend in person can also enjoy a follow-on cocktail and networking session. Please see the link below for more information, including how to register. We look forward to seeing many of you Tuesday!!

Wednesday, January 20

Aligning your Career Plan and Ambition

5:00-7:00pm, The Reverie Saigon, 22-36 Nguyen Hue Boulevard & 57-69F Dong Khoi Street, District 1

Start the new year right. Focus on your ambitions, career plans, and quality of life.

Alignment between your ambitions and career plans produces a better quality of life with higher levels of happiness, fulfillment, passion, and energy. Please join our discussion with special guest speaker, Founder & CEO of Oxalis Adventure Nguyen Chau A, to learn how to identify your ambitions and align them with your career plans. You may want to plan an Oxalis adventure, too!

Tuesday, January 26:

AmCham 101 - New Member Orientation

5:00-6:00pm, New World Hotel Saigon, 76 Le Lai Street, District 1

At this new member 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 members. While this event is designed for new members, we welcome other members on a space available basis. If you cannot join this meeting physically, you can still register to join virtually via Zoom.

Who should join?

· New members

· Existing members who want to learn more

Contact Ms. Ruby Nguyen if you have any questions.

Tuesday, January 26:

AmCham Connect & Cocktails at Black Vinegar

6:00-8:30pm, Black Vinegar, 1st Floor, New World Hotel, 76 Le Lai, District 1

AmCham will continue our monthly informal networking event – AmCham Connect and Cocktails! 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!!

This month, we will meet at the New World Hotel’s brand-new modern Cantonese restaurant, featuring Executive Chef Tony Guo, which is getting a lot of buzz for its elegant décor and top-notch food, including an all you can eat dim sum Sunday brunch!

Wednesday, January 27:

“Safe Recruitment in Education from Compliance to the Reality of International Standards”

6:00-7:00pm. Please register to receive an email confirmation with additional webinar details.

During this webinar, Safeguarding Consultant Suzanne Murray will share her journey of developing a strategic approach to implementing safer recruitment standards and SCR compliance in schools.

Routed in a “Culture of Care” and proactive procedures to safeguarding, we will explore the need for a Single Central Record (SCR) and compliance, which meets international standards. We will also consider the importance that staff awareness, competence, and quality training play in supporting the teams in the day-to-day operational aspects of establishing and maintaining a “fit for purpose” SCR in schools.

Friday, January 29:

AmCham Vietnam - Da Nang Connect & Cocktails at El Gaucho

5:30-8:00pm, El Gaucho, GF, Indochina Riverside Mall, 74 Bach Dang Street, Hai Chau, Da Nang

Join us for a great night of networking in Da Nang.

AmCham Vietnam- Da Nang will hold its next monthly informal networking event – AmCham Connect and Cocktails – at El Gaucho!

Please come to learn more about AmCham, meet fellow AmCham members, and other professionals in an informal after-work setting.

Committee Meetings & Activities (For AmCham Members Only)

Jan 21: Digital Economy & Technology Committee Meeting

Jan 21: Tax & Customs Committee Meeting

Jan 22: Food & Beverage Committee Meeting

Jan 27: Logistics & Supply Chain Committee Meeting: Container shortage in Vietnam – What are the challenges/solutions ?

Jan 29: Agriculture Committee Meeting

Recent Events

On January 14, AmCham HR and Labor Experts Baker & Mckenzie’s Hang Nguyen, Intel’s Yen Pham, and Coca-Cola’s Thu Cu provided an in-depth briefing and Q&A session on key changes to Vietnam’s new employment regulatory environment, and best practices. Even more insights came in the small group discussions!

COVID-19 Update from Healthcare Provider Subcommittee Chair Dr. Mason Cobb

Everyone breathed a sigh of relief when 2020 was in the books. There was great promise from the vaccines, and we had become used to the proliferation of cases and deaths. Some predict that COVID-19 will always be present but much less common than currently, as herd immunity develops.

WHO predicts that the pandemic will require precautions until the end of 2021. The new variant is spreading rapidly and has brought about more stringent measures from various countries. Japan, for example, has closed business flights from 10 countries including Vietnam. Vietnam is restricting incoming flights until after the Tet Holiday. Most countries require a negative test to fly internationally, and a “vaccine passport” may be needed after more widespread distribution of the vaccine.

With such a contagious strain of virus, herd immunity may only be achieved when 85% of the population has either had the disease or has been vaccinated. There have been some pockets of opposition to the vaccine, particularly in France and to a lesser degree in USA, which may impede the high immune numbers required.

Indonesia is using the Sinovac vaccine, which has conflicting results in its trials. It may only be about 50.38% effective. Johnson & Johnson is developing a one, rather than 2 shot vaccine, that is very promising. The Moderna and Pfizer-BioNTech vaccines are being produced in the 10s of millions and being widely distributed. Some immunity may occur in as little as 10 days, although 2 shots at 2 and 3 weeks apart are required, so after the shots, resistance to the disease is quite rapid. However, to reach 7 billion people in over 200 countries will take some time.

COVID-19 is proving to be a serious disease even in younger people. A study from USA showed that 30% of college athletes with COVID-19 had prolonged heart problems. The most common symptom, loss of taste and smell, may persist for prolonged periods or for life in up to 15% of cases. However, our scientific knowledge and hope continues to develop more rapidly than for any other illness. Experimentally, an exciting development has been a noninfectious SARS-CoV-2 virus that could create immunity and hopefully crowd out the more virulent form now in the world.

There has been talk about “Vaccine Diplomacy”, whereby, vaccine becomes yet another sweetener or deterrent for diplomatic bargaining. We have no indication that Viet Nam is engaged in this. Vietnam, on the brink of its governmental meeting to choose new officials, has released no news regarding when, which, or for who a vaccine may be available.

So, hang onto those masks, but do not give up hope although this pandemic may be a long haul.