AmCham Vietnam-HCMC Weekly Update - 18th Week of 2020

AmCham Vietnam Weekly Update - 18th Week of 2020 - May 2, 2020

Join AmCham Vietnam Today

Activities Update

Colleagues, we hope you are enjoying the holiday weekend and cautiously enjoying our increased freedom of movement. Please continue to be vigilant as we follow Directive 19 guidance (LINK) and adjust to a "new normal."

Next week will be a welcome change for many as schools phase in reopening. My daughter, however, wished she could continue on-line learning forever! We all deal differently...

We look forward to seeing many of you next week at our virtual Capital Markets and Education Committee meetings, as well as a virtual Tax Seminar being hosted by EY.

AmCham staff continue to work hard on your behalf, but many of us continue to work from home, at least part-time. We hope we will be able to reopen for visitors and host some in-person meetings and events later this month, including perhaps another socially-distanced outdoor Connect & Cocktails.

We hope you can enjoy 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!

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. 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. On April 29, thanks to your input, we provided feedback to VCCI on the draft national "Provisional Guidance on assessing the risk of COVID-19 disease infection in business and production facilities." We understand many of our recommendations have been incorporated into economic recovery plans being coordinated by the PM with the Ministry of Planning and Investment and VCCI.

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.

Meanwhile, we are happy to highlight 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 . 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

Stay Informed- Coronavirus Disease 2019 (COVID-19) Outbreak

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 15 consecutive days of no local transmission, 270 total cases, 219 recovered, and 0 deaths; 47,645 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 large gatherings.

Some additional tips below from Dr. Mason Cobb, Vice-Chair, and Dr. Andy Meadows, of AmCham Healthcare Committee’s Medical Providers Subcommittee:

The big news in Vietnam is the lifting of the most stringent aspects of social distancing. Restaurants, malls, stores, and gyms are open while we all wait expectantly for new cases. In the meantime, limited crowd size, masks, 2 meter separation, covering coughs and sneezes, and careful and frequent hand hygiene remain mandatory. Air transportation world-wide remains nearly frozen.

COVID-19 symptoms are well-known: fever, cough, shortness of breath and difficulty breathing. Additional new symptoms defined by CDC-USA this week are: chills, repeated shaking with chills, headache, sore throat, more muscle pain and new loss of taste or smell. Unfortunately, none of these is 100%, so it means putting a few together and doing further testing such as lymphocyte count (low 83% of the time) or a CT scan of the chest to look for pneumonia (as high as 98% accurate). If you have these symptoms, isolate from others and seek medical care.

Every day, we receive new information about COVID. Despite these rapid advances, there remains much uncertainty about peculiar aspects of this novel disease. One of these uncertainties is why do so many patients who test positive display mild symptoms or none at all, while others progress rapidly to serious, life-threatening complications?

There are well-known risk factors such as age and chronic illnesses; however, these alone do not account for all patients who seemingly ‘drop off the ledge.’ Rather, each individual’s own unique immune system response may define the course of the disease as much as anything. It seems those who decline rapidly may have an immune response in dangerous overdrive, sounding the body’s fire alarm that negatively effects breathing and circulation: this is called “cytokine storm”, after the proteins that upregulate the inflammatory response.

This is usually a ticket to the ICU. However, the earliest possible identification of these situations allows the healthcare team the chance to intervene and improve outcomes.

One early indicator of the need to seek treatment is a low level of oxygen in the blood. “Silent hypoxia” (low blood oxygen delivery to the tissues that does not show many symptoms) may be a silent killer of those who die at home. Fortunately, monitors (pulse oximeters) are available for personal use that measure the oxygen in the blood, such as finger pulse oximeters and some fitness trackers. At the first onset of COVID-like symptoms, oxygen levels should be measured several times per day, much like is commonly done with body temperature. Normal levels for blood oxygen are above 95%. If the level drops below 93%, it is best to seek medical attention. Other respiratory danger signs are inability to hold your breath for 10 seconds or a respiratory rate greater than 30/minute. If you have any of these signs, get medical help.

Another very worrisome observation this week has been recurrent patients. They tested negative, then positive again. This raises concerns and questions. Were the tests accurate? Can they spread the virus again? The case reports suggest that they have minor or no symptoms. If they can spread the virus, a second wave with more suppression is more likely.

AmCham Cinco de Mayo Fiesta Week!

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, with social distancing 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 this LINK 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.

Navigating Your Marketing Response During COVID- 19 Conditions

On Tuesday, April 28 Oliver Woods, RED2’s Director of Digital & Social Strategy had an excellent presentation on using digital media to develop your brand during the COVID-19 outbreak. Lots of good case studies and tips on how to use digital tools to convey you are a good corporate citizen, demonstrate what you are doing to promote health and safety, be real about the challenges of change, and find new ways to make emotional connections with and create value for your customers.

Upcoming Events

Tuesday, May 5

Virtual Event: Tax Issues in Uncertain Times

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.

Thursday, May 14

Virtual Event: Manufacturing Skills Evolution in the Digital Age

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.

Tuesday, May 26

AmCham 101 - New Member Orientation

4:00-5:00pm. Please register to get the link for virtual attendance.

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.

Wednesday, May 27

AmCham Connect & Cocktails

6:00-8:30pm. Venue to be confirmed.

One way or another, AmCham will continue our monthly informal networking event – AmCham Connect and Cocktails! We hope by late-May the social distancing directives will have liberalized so we can hold our event in real life - at an outdoor, fresh-air setting. But if not, we will again hold a virtual C&C and will arrange with a local restaurant for special drink and appetizer delivery options. Either way, 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!!