AmCham Vietnam Weekly Update -
51st & 52nd Weeks of 2020 - Dec. 29, 2020
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Executive Director Update |
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Colleagues,
Merry Christmas and Happy New Year from your AmCham team! We know it is hard to be separated from friends and family, but hope you are finding some time to celebrate, and hopefully travel in Vietnam. We remain grateful for your support and the freedoms we enjoy here in Vietnam, thanks to the government’s effective COVID response.
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Wishing all our members and friends throughout the world peace, joy, and health for the holidays and best wishes for 2021!
Your AmCham team is trying to also take some well-deserved time off to rest and recharge. We have not scheduled any meetings or event until January 4. We do not plan to send another weekly email until Sunday, January 10. Membership Assistant Ruby Nguyen is in the office (except New Year’s Day) to keep things running and answer any questions you may have. Our team will have limited email access. If you have an urgent matter, you can contact our Office Manager Cindy Tran at 0903 974 947 or Events & Committees Manager Lily Nguyen at 097 688 2688.
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Start the New Year Right. Join our very special event on January 4, ESG Investing in Vietnam – Promoting Sustainable Growth and ROI, organized by our Capital Markets and Financial Services Committee, with an all-star cast of panelists, including Dragon Capital Founder and Chairman Dominic Scriven, Environmental NGO CHANGE Founder and Executive Director Hong Hoang, Patamar Capital Partner and Beacon Fund CEO and Founder Shuyin Tang, and Orlar Co-founder and CEO Lyndal Hugo, together with CMFS Committee Chair, Saigon Asset Management Founder and CEO and Shark Louis Nguyen as moderator! Register now!
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The Best-laid Plans of Mice and Men Often Go Awry. While AmCham did not schedule any meetings after December 18, the Vietnamese and U.S. Governments did, most significantly, the December 21 Mekong Connect in Cao Lanh, December 22 Vietnam Business Forum in Hanoi, and December 28 and 29 USTR Section 301 virtual hearings on timber and currency, respectively. Your AmCham team is still working hard, representing you, our members. Even if I drew the short straw and was on panel 4 last night, with my session ending at 1:15 this morning…
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Section 301. The most critical issue affecting the U.S.-Vietnam trade and investment partnership now is the threat of retaliatory tariffs being imposed on some or all Vietnamese exports to the United States as a result of Section 301 investigations being carried out by the United States Trade Representative (USTR). As we learned in our December 18 webinar (see recent events), these actions could take place as early as January 7, given the broad latitude Ambassador Lighthizer has under Section 301. We do believe it was important, however, that President Trump and PM Phuc spoke last week, highlighting both the achievements of the comprehensive partnership and 25 years of diplomatic relations, as well as the importance of fair and reciprocal trade.
I testified last night for AmCham Vietnam-HCMC & Vietnam to represent our members’ interests for the timber investigation (https://www.amchamvietnam.com/wp-content/uploads/2020/12/AmCham-Vietnam-Testimony-Section-301-Timber.pdf). AmCham Hanoi Chair Ginny Foote testifies tonight for the currency investigation, representing AmCham Vietnam’s joint concerns in her role as 2020 National Chair. Her planned remarks are attached (https://www.amchamvietnam.com/wp-content/uploads/2020/12/AmCham-Testimony-301-Vietnam-Currency.pdf). You can watch live tonight, starting at 9:30 PM (LINK https://ustr.gov/issue-areas/enforcement/section-301-investigations/section-301-vietnam/vietnams-currency-valuation-virtual-public-hearing-december-29).
If your companies have concerns, comments and rebuttals can be submitted to USTR through January 6 for timber and Jan 7 for currency (https://ustr.gov/sites/default/files/enforcement/301Investigations/Notice_of_Public_Hearing_Vietnam_Timber_November_2020.pdf). You may also want to have your HQ share such concerns with your Congressional representatives.
Vietnam Business Forum. The December 22 VBF annual meeting was led by MPI Minister Nguyen Chi Dung, with a special appearance by Deputy PM and Minister of Foreign Affairs Pham Binh Minh. AmCham was well-represented, with both our 2020 AmCham VBF rep Fred Burke and Ginny Foote, as well as heads of several working groups. Fred and Ginny were also able to join a special “mini-VBF” meeting with PM Phuc on December 10 to share top concerns.
We plan to hold a briefing session on key takeaways from the VBF for our members and other HCMC-based chambers and business representatives in early January. Although it can seem a bit mysterious, the VBF is an important tool for advocacy to represent and resolve the top concerns of our members. Learn more about its role and results, as well as how your company can get involved in key sectoral working groups. Current plan for our VBF Briefing- HCMC is January 12 at 430 – save the date!
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Mekong Connect. I was honored to join Mekong Connect in Dong Thap with MOST Minister Huynh Thanh Dat, MARD VM Le Minh Hoan, VCCI Dr. Vu Thien Loc, and other distinguished guests to discuss how renewable energy can be a game changer for sustainable development in the Mekong Delta region. I noted how several AmCham member companies, including First Solar, UPC Renewables, Shire Oak, and VinaCapital with Bechtel are eager to partner for solar panels, and wind and solar energy development in the Mekong Region. I stressed how extension of the wind FIT and finalization of DPPA regs will help attract more investment and enable sustainable supply chains in Vietnam. I was happy to be joined by incoming AmCham Board Member, Arevo Vietnam CFO and President Christy Le, USABC Vietnam Country Representative Bui Kim Thuy, and VBI Fast Track CEO Pham Phu Truong, all partners in strengthening U.S.-Vietnam relations.
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Annual General Meeting. Thanks to all our members who joined us at our December 15 Annual General Meeting! With your support, AmCham has been able to Invest in the Future and meet our three strategic goals for 2020 - despite the COVID-19 pandemic.
We launched our chapter in Da Nang; strengthened our committees, advocacy, and business intelligence events; and maintained our financial health, growing both members and sponsors.
We added a new Advocacy and Communications Manager position, renovated our offices, and invested in new audio-visual equipment to better serve our members - - wherever you are in Vietnam and the world.
Thanks to generous donations from our members, we also contributed significantly to supporting the Vietnamese government’s impressive management of COVID through contributions of PPE, an RNA/DNA analyzer, Real-time PCR system, and a fully-equipped ambulance.
Thank you for your support - we welcome your feedback to strengthen our services to you, our members!
Thank you also to all of our volunteer 2020 Board members for your service and strategic vision, and to our 2020 Committee leaders who have served and represented the interests of key sectors!
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And congratulations and thank you to our newly-elected 2021 Board of Governors! |
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And farewell and thanks to our outgoing Governors for your dedicated, strategic leadership, and outstanding contributions to AmCham Vietnam - HCMC |
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Membership Renewal. For many of you, it's time to renew your membership for 2021 and continue your involvement in AmCham, with opportunities for networking, information-sharing, 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 will consider upgrading to become premium corporate members!
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Message from AmCham Vietnam - Da Nang Vice Chair Chris Vanloon
New Year’s is around the corner. AmCham is once again bringing light to some of the special offers from our members in the hospitality, travel and tourism industries. Be sure to check out their promos and programs; there's something for everyone!
On behalf of AmCham Board Members and Team of AmCham Vietnam-HCMC & Da Nang, we wish you Happy Holidays and all the best to you in the year to come!
Mary Tarnowka
Executive Director, AmCham Vietnam-HCMC & Da Nang
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Monday, January 4:
4:00-7:00pm, The Reverie Saigon, 22-36 Nguyen Hue Boulevard, Dist. 1
There has been a clear movement towards sustainability and environmental, social, and governance (ESG) criteria within the investment and business community globally, as well as here in Vietnam.
Companies and investors are increasingly integrating ESG criteria in their own businesses as well as utilizing such criteria to evaluate potential investments.
Why do companies/investors care about ESG criteria?
What are the challenges facing Vietnam’s financial sector in its efforts to meet local and international ESG standards?
How can Vietnam ensure that it has the right conditions to attract global companies that value ESG criteria?
How can investors evaluate potential partners and investee companies to determine if they meet ESG criteria?
How can companies located in Vietnam embrace and more fully implement ESG criteria in their business operations to promote sustainable growth?
What is the difference between ESG and Impact Investing?
How can ESG/Impact startups attract financing and deliver sustainable returns?
What role can NGOs play in ESG and Impact investing?
The purpose of this event is to provide insights on the opportunities and challenges of ESG and Impact investing in
Vietnam through the perspective of prominent ESG and Impact investors, a renowned environmentalist and NGO founder, and an ESG/Impact startup founder.
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SAVE THE DATE - Tuesday, January 12, 4:30-7PM TBD. VBF Briefing – 2020 Outcomes
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Committee Meetings & Activities (For AmCham Members Only) |
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Our flash webinar on U.S. Treasury Designation of Vietnam as a Currency Manipulator & USTR Section 301 Currency & Timber Investigations on December 18 was incredibly informative. We knew we had a panel of experts. We did not know that Dr. Deborah Elms did her PhD dissertation on Section 301 and worked with USTR Ambassador Lighthizer earlier in her career. If you do business in Vietnam, and/or export to the United States, you may want to listen to this expert discussion to understand the broad discretion that the Trump Administration has to take punitive actions against Vietnam under Section 301.
We also encourage any and all who are concerned about potential Section 301 actions to weigh in directly with USTR and your Congressional representatives, and to share copies of those letters with us so we can reinforce your concerns in our testimony. As noted above, we testified on the timber case at the public hearing on December 28, based on our earlier comments. AmCham Hanoi will testify on the currency investigation on December 29, based on our earlier joint comments. To the extent USTR and we have additional comments from you to demonstrate your concerns, it will be extremely helpful. https://ustr.gov/sites/default/files/enforcement/301Investigations/Notice_of_Public_Hearing_Vietnam_Timber_November_2020.pdf
Recording now available! If you were not able to join the flash webinar, you can purchase the recording now. AmCham Members: VND 200,000 | Non-members: VND 350,000. Contact amcham.events@amchamvietnam.com for your inquiry.
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Pepsico Foods Vietnam. I was delighted to visit PepsiCo Foods Vietnam’s Binh Duong plant with representatives of the U.S. Consulate and Potatoes USA. Lay’s potato chips made from Washington State potatoes were delicious - even before the seaweed seasoning. Now we need to find ways to lower tariffs to make high quality delicious US potatoes more competitive in Vietnam!
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AmCham Vietnam’s 25th Annual Governors’ Ball – Old Hollywood Christmas. Thank you to all who joined and contributed! The 2020 Governors’ Ball raised over $65,000 in net proceeds, all of which will go to support the AmCham Vietnam-HCMC scholarship programs. This is a record high amount raised to fund our most long-standing community service activity to support local university students, including a specific scholarship program for female students pursuing careers in STEM. Special thanks to Sponsors and Donors for your contributions and support to the event!
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Check out our photo album for many of the evening's highlights and our members and guests celebrating together and getting into the holiday spirit.
Click HERE for list of Winners of Raffle Prizes and Silent Auction Prizes.
And click HERE for Santa's Breakfast photos.
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COVID-19 Update from Healthcare Provider Subcommittee Chair Dr. Mason Cobb |
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“It was the best of times; it was the worst of times”. The vaccines are potentially going to mitigate the pandemic. The pandemic is raging with millions of deaths and no sign of ending without the vaccines.
The vaccines from Pfizer and Moderna are very safe with no deaths reported and no lasting disability from them. There have been 5 serious allergic reactions which have been rapidly reversed. The odds of such a reaction are only 0.63% or less and, again, are rapidly reversible. The CDC (USA) guidelines still recommend the vaccine except to those who have had an anaphylactic reaction (swelling and difficulty breathing) with specific medications.
Because of these reactions plus a slew of misinformation online, skeptics may be dissuaded from getting the vaccine. The pandemic will continue unless we achieve “herd immunity” of about 70% of the population. If not enough people get vaccinated, herd immunity can only be achieved through prolonging the lethal devastation that is already occurring and prolonging the social and economic disruptions. We already have overcrowded hospitals and in California plans are already underway to triage scarce resources, allowing the sickest or oldest to simply die as resources are diverted to those with a higher chance of survival with intense care. Herd immunity without the vaccine will be at an outrageously high price in human life, probably over 3 million deaths.
Even at current rates, there are 2 deaths a minute in the USA: 6 people die in the time it takes Bing Crosby to sing “White Christmas”. That will intensify, as it appears that there is an even more contagious strain of SARS-CoV-19 gaining a foothold in UK, and there will be more travel and gatherings over the Christmas Holiday.
We continue in our safe bubble in Viet Nam and the vaccine is not as urgent a need here. However, the Vietnam economy cannot open to a world in the depths of a lethal epidemic and those who need to travel internationally may also want or need a vaccination. It will be important to receive the vaccine when available here, as well.
The Vietnamese government is actively working to bring safe and proven vaccines to Vietnam as soon as possible. We will continue to monitor the situation and provide updates when reliable information is available.
The light that the vaccine brings to the end of tunnel is flickering and depends upon individual and collective responsibility to GET VACCINATED.
Finally, many of you have seen reports of the individual who entered Vietnam illegally and was COVID positive. Thankfully, his mother reported him so he could be quarantined. More lockdowns and testing in process - stay vigilant! https://e.vnexpress.net/news/news/another-illegal-vietnamese-entrant-contracts-covid-19-4213144.html
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To avoid social insurance obligations, health insurance, and unemployment insurance towards their employees and avoid being subject to liability as provided by the labor law, many companies propose that their employees sign contracts to provide services instead of labor contracts. Is the signing of a service contract between a company and an employee (an individual) lawful under Vietnam law? The following legal insight will help readers explore the lens of the law on this matter. Any questions, please contact us at info@letranlaw.com. Read more articles on our LinkedIn HERE.
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On June 17, 2020, the Vietnam’s National Assembly passed the Law on Investment which will take effect on January 1, 2021. The new law reflects Vietnam’s great efforts to boost its appeal for the investment activities in general and the foreign investment in particular in the context that the CPTPP and the EVFTA to which Vietnam is a member took affect and Vietnam needs to complete the legal framework in order to enhance competitiveness vis-à-vis other countries and to attract foreign investment capital.
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Long Hau Trading Center
The demand of office space in non central business districts is increasing thanks to 3 key advantages which are low rent, improvement of transportation infrastructure and high opportunity to find customers.
Situated in the heart of Long Hau Industrial Park, Long Hau Trading Center, offering low-cost office and retail space for lease, is a hotbed for business growth.
OFFICE/ RETAIL SPACE FOR LEASE IN LONG HAU IP
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It’s undeniable that the Festive Season is the most anticipated celebration of the year, with people bonding over food and building relationships through gatherings. Save the hassle from hosting these gatherings at home and book a festive feast at InterContinental Saigon. We are delighted to offer you a joyful array of delectable dining offerings. Let’s eat, drink and be merry! We look forward to ring in the New Year with you.
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Take a break from your regular festive celebration and rejuvenate yourself in the pristine nature. This year, we bring a great combination on Christmas Day and New Year’s Eve exclusively for you and your loved ones at An Lam Retreats Ninh Van Bay and An Lam Retreats Saigon River.
Enjoy night stays, roundtrip pickup service, New Year’s Eve dinner, music performances, and many more.
T: (+84) 0908 568 991
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Get into the spirit of the season with a little magic from The Reverie Saigon, where a host of glamorous seasonal delights await. All of the hotel’s spectacular dinning outlets will feature special festive menus and holiday occasions, while The Spa at The Reverie Saigon presents a special seasonal treatment package. Café Cardinal, R&J Italian, The Royal Pavilion and The Long @ Times Square will all be hosting fabulous Christmas and New Year events.
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Say goodbye to 2020 and give a big welcome to 2021 with a celebration to remember!
Spend your last evening of the year enjoying a fantastic buffet feast, complete with thirst quenchers to wash it all down.
6pm – 10pm | 31 December 2020 | Chit Chat Restaurant, Ground floor
VND1,688,000++nett/adult, including sparkling wine, house wines, mulled wine, draft beer, soft drink, tea & coffee.
Early bird: Get 15% off for bookings made lasted by 26 December
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We’re making New Year’s Eve bigger and better! Knockout 2020 and pave the way for a fantastic 2021 with a celebration to remember by our poolside. Live entertainment, food, drinks and party favours will be available throughout the night. We hope to see you there!
· 10pm - 12:30 am | 31 December 2020 | Pool Bar, Level 4
· VND400,000 nett/person, including canapes, wine, beer and soft drinks
· Special rate of VND300,000 nett per ticket for in-house guests and diners of New Year's Eve buffet
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Enjoy the very best of Vietnam at the award-winning InterContinental® Danang Sun Peninsula Resort, a luxury five-star beach resort nestled in the heart of Son Tra Peninsula Nature Reserve in Danang City. Delve into the soul of Vietnamese culture and heritage with our nearby cultural and natural sites including the UNESCO World Heritage Sites Hoi An Ancient Town and Hue Imperial City.
Let us craft a very special Christmas for you and your family!
For more information or to make your reference, please contact:
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From VND 2,960,000 net/combo/3 days 2 nights for 01 person at Furama Resort Danang and VND 3,920,000 net/combo 3 days 2 nights for 02 persons at Furama Resort Danang, includes: round trip flight ticket from Hanoi, Haiphong and HCMC to Danang, usage of Fitness Center, Swimming Pools, Games Room, Kids Club, Sauna and Steam Bath and many other recreational activities.
10% OFF food and beverage to enjoy various dining options at all restaurants, lounge and bars, water sport activities, spa services and tours.
The promotion is applicable to all domestic passenger flies to Danang from Hanoi, Haiphong, HCMC with Vietjet Air, booking and staying period from 7 December 2020 to 28 January 2021 with some terms and conditions. Above rates include 5% Service Charge and 10% VAT.
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Inspired by Asia's dynamism, New World Hoiana Hotel Vietnam introduces to the world an environment that is both exotic and contemporary showcasing Hoi An's best in art, history and new ways of viewing things. A world of heritage but with eyes focused on Asian future boasting of hotel facilities catering to short and long term stays.
VND 2,585,000 ++ / room for 2 Pax
Benefits:
-Daily breakfast for two
- Roundtrip transfers from either Danang city, Danang International Airport or Chu Lai Airport.
- Access to fitness and recreation facilities at New World Hoiana Hotel Vietnam
- Access to Hoiana's world-class entertainment offerings and championship golf course.
Note: Stays from December 1, 2020 onwards
For Reservation Inquiries, please contact Mimi Minh Ngo at:
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Hoiana Hotel & Suites is a stellar showcase of the Hoiana Integrated Resort experience and offers elegant beachfront accommodations that blend modern design with genuine, warm
Vietnamese service.
Revel in festivities with your closest as you indulge in a luxurious stay with special offer: VND 3,500,000 ++ / room for 2 Pax
Benefits:
- Daily breakfast for two
- Roundtrip transfers from either Danang city, Danang International Airport or Chu Lai Airport.
- Access to fitness and recreation facilities at Hoiana Hotel & Suites
- Access to Hoiana's world-class entertainment offerings and championship golf course.
For inquiries and reservations, please contact:
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Please join us to welcome new AmCham members of this month!
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Let’s support local businesses. If you have any questions regarding our program, please contact Membership Services Assistant Ruby Nguyen at membership@amchamvietnam.com
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AmCham Premium Membership |
AmCham Premium Membership 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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