AmCham Vietnam Weekly eNewsletter - 37th Week of 2022

Weekly eNewsletter

37th Week of 2022 - September 22, 2022

AmCham Vietnam’s Vision:

We strive to continue to be the most influential, strategic, and dynamic business association in Vietnam.

AmCham welcomes American, Vietnamese, and international companies that share our interest in enabling a fair, transparent, predictable, and efficient regulatory environment that values innovation.

We are committed to diversity, equity, and inclusion, as well as environment, social, and governance values and aim to be a community you want to join.

www.amchamvietnam.com

Dear ,

For a combination of personal and professional reasons, I have decided to step down as Executive Director of AmCham Vietnam, effective in December, when my current contract expires. It has been a privilege and an honor over the last three years to serve such a dynamic and growing community of business leaders driving innovation and sustainable growth in Vietnam. I also am proud of the way our AmCham members came together during COVID to support each other and the broader communities where we live and work. Ultimately, this was a difficult decision as I have greatly enjoyed my time at AmCham contributing to stronger ties between the United States and Vietnam. We have accomplished a lot together. I look forward to pursuing new opportunities where I can make a positive impact and realize my personal ambitions. I want to thank you all for your support along the way and assure you I will do my utmost to continue to serve our members and ensure a smooth transition.

I feel privileged to have served as AmCham Vietnam Executive Director here in HCMC since I took the position in August of 2019, shortly after ending my posting as U.S. Consul General. I accepted this position because I love Vietnam – the country and the people – and I believe there are incredible opportunities here for a deeper U.S.-Vietnam partnership. I had worked closely with AmChams throughout my diplomatic career, served as Honorary Board Member of large and dynamic AmChams in Seoul and Shanghai, and have tremendous respect for the critical role that AmChams play in representing the interests of the U.S. and broader business community. Accepting this job meant my daughter Zofia could complete high school at ISHCMC, where she was thriving.

What's next for me? My plan is to move back to Washington, DC, to be closer to my daughters, and take on some new professional challenges, as well as hopefully have more time for hiking and kayaking. It has been almost a decade since I last lived in the United States and I am excited to reconnect with my community there while also staying connected to Vietnam. I welcome ideas from friends and colleagues in that regard. I will always consider HCMC one of my homes and AmCham Vietnam one of my communities. I will be cheering you on from afar! Full version of the letter. LINK

Member-only Action Requests.

Please Complete AmCham’s Governance Task Force Survey by Friday, Sept 23. AmCham’s Governance Task Force wants your feedback as it plans next steps to strengthen our corporate governance to better serve our members. If you can’t find the survey (resent on Sept 19th) amongst your emails, please contact Office Manager Cindy Tran. LINK for background on the survey.

Call for Recommendations of Candidates for 2023-2024 AmCham Vietnam Board of Governors in HCMC by Monday, October 10th. AmCham Vietnam is seeking a diverse and inclusive Board for 2023-2024 that represents our membership and provides strategic guidance, oversight, and resources to our AmCham team and volunteer Committee leaders to help us achieve our Mission to promote trade and investment between the United States and Vietnam and serve as the voice of American business in Vietnam. If you are interested or know someone who might be a good candidate, please see more information at LINK

Sponsorship opportunities available now for AmCham Women in Engineering Scholarship (ACWES) 2022. Invest in the future of Vietnam and your company’s potential future talent pool through sponsoring talented female university students studying in STEM! AmCham Vietnam’s Women in Engineering Scholarship program was established in 2011 to encourage and support female students to study science, technology, engineering, and mathematics (STEM) fields and pursue careers in STEM. Now with almost 400 alumni, ACWES 2022 will offer 70 scholarships of VND 15,000,000 each for students from 12 university partners in HCMC, Da Nang, Dong Nai, and Binh Duong. AmCham has just issued our call for applications due on October 3^rd, with the Award Ceremony scheduled on November 11^th. Join sponsors including Techtronic Industries Vietnam Manufacturing Company Limited (TTI Group), Axcela Vietnam, EPAM Systems (Vietnam) Company Limited (EPAM), and Procter & Gamble Indochina Company Limited (P&G) to demonstrate your company’s support for women in STEM. LINK Please contact our Scholarship Management team for more information about sponsorship at scholarship@amchamvietnam.com.

Upcoming Events.

Register now to join don't miss this valuable opportunity to develop a critical leadership skill: Telling Your Own Personal Story. Wherever you are in your career path, whether you are just starting out in your professional career, are in a more senior management or leadership position, or are an entrepreneur and founder of a company, you need to be able to tell your own Story concisely and with impact. If you don't tell your Story, someone else will. Sharing your Story can inspire others to action. Join this interactive workshop to learn techniques from a leadership training program taught at Harvard's Kennedy School. You will learn tools and a process to define your Personal Narrative and be able to communicate your Story with impact whenever, wherever, and however you need. This also has major benefits for those of us in a sales or marketing position. And if we think about it, we are all selling something. Register now! LINK

Upcoming Committee Meetings. AmCham members are welcome to join, in-person or virtually:

September 23, 9AM: Agriculture Committee Meeting

September 27, 9AM: Tourism and Hospitality Committee Meeting

September 28, 9AM: Logistics and Supply Chain Committee Meeting

Recent Events

AmCham at Prime Minister Meeting with FDI Business Community on Saturday, Sept 17. We were honored for AmCham to join the Sept 17th meeting of the Prime Minister with the FDI Business Community, represented by AmCham Hanoi Chair John Rockhold, who shared AmCham members’ priority concerns and recommendations to drive innovation and sustainable growth. Nice that many of those recommendations were also reported in the Government media! Glad Meta, Boeing, Dell, and HSBC were able to share their perspectives, too, and AES, Intel, Gen-x also able to join. LINK

AmCham was honored to join the Sept 15 meeting of the Prime Minister’s Advisory Council on Administrative Reforms, represented by LNT Partner Net Le and Bower Group Asia Nguyen Viet Ha to discuss administrative process reforms and modernization of regulation procedures with ministries, provincial authorities, and other business associations. The government committed to continue the process of digitalization and modernization regarding regulations that focus to serve people. Ministry representatives recognized the importance of establishing a central database and zoning to avoid overlap and duplication. They also noted that appropriate KPIs would need to be set for officials, together with salary reforms and disciplinary processes, to promote a culture shift from administration to customer service and results. AmCham is optimistic that, with strong guidance from the Government, Vietnam will become an even more attractive destination for foreign investment.

I was honored to join and share AmCham's policy recommendations at the Sept 15 HCMC Investment Conference, coordinated by the HCMC Investment and Trade Promotion Center and Vietnam International Arbitration Center together with other chambers and business representatives, including Baker & McKenzie’s Chung Seck & Fred Burke. And always good to see old friends like Dr. Vu Tien Loc! Nice to see local media pick up many of our recommendations!! LINK

It was also good to see local media report many of the macroeconomic policy recommendations AmCham Board member in HCMC and Hanoi and Citi Country Officer A.S. Ramachandran (aka RamC) shared with Prime Minister Chinh in a Sept 12^th meeting. LINK

AmCham Business Intelligence Event on Vietnam's Economic Outlook - Thriving in Uncertain Times on Sept 15th covered a wide range of issues from Vietnam’s prospects for high tech FDI, transportation infrastructure in the South, and prospects for the Digital Economy and consumer spending. Fulbright School of Public Policy and Management Lecturer of Public Policy Nguyen Xuan Thanh shared his policy insights, VinaCapital Chief Economist Michael Kokalari discussed macroeconomic analysis, and MasterCard Country Manager Winnie Wong presented the latest consumer trends. When asked to share key words or advice for thriving in these uncertain times, Winnie Wong said, "resilience and positivity", Michael Kokalari suggested "investing in funds, for example VinaCapital", and Nguyen Xuan Thanh said "implementing policies and getting things done". AmCham Capital Markets and Financial Services Committee Co-Chairs Citi Head of Commercial Banking Shawn Khong and VinaCapital’s Head of Business Development Eric Levinson, who coordinated the event, encouraged participants to join AmCham and the Capital Markets Committee to discuss these and similar topics further.

AmCham Premium membership offers the opportunity for qualified companies to highlight your status as business leaders and your strategic support for AmCham Vietnam’s mission and programs. Premium Membership offers a range of benefits, and exclusive VIP access. Customized packages are available. To learn more, see LINK or contact Office Manager Cindy Tran.

Thank you for your continued support – let us know how we can do better at team@amchamvietnam.com! Mary Tarnowka

Special thanks this past week to our Member RSM Law for welcoming AmCham Da Nang Members and Guests to the one-year Anniversary of its office opening in Da Nang! It was a very special occasion and we all learned a great deal about what RSM has to offer from Auditing and Assurance, Tax Consultancy, Business Consultancy, and much more. We really welcome a new American audit firm to Da Nang. With the level of business picking up and growth of new investment, we are confident that RSM will be very busy and very successful in years to come!

Advocacy

AmCham’s 6-minute remarks as prepared for delivery at the September 17th PM Meeting with the FDI Community are attached LINK, a second position paper on Nutritional Labeling. LINK

Vietnam Business Forum Update by AmCham VBF Representative Fred Burke.

Although the September 17^th meeting with the Prime Minister was not considered a VBF meeting, VBF staff played a critical coordinating role and hope to be able to share an informal readout of the meeting and speeches soon, including on the VBF website.

AmCham members interested in Environmental issues are invited to join the VBF Environment Working Group panel discussion on EPR with MONRE at 9:00AM, Wed 28 Sep 2022 at Level 5, Green Lakeside building, 33 Trúc Bạch, Ba Đình, Hanoi and online. Vietnam is witnessing tremendous changes in the country’s growth strategies and legal framework to achieve “Net-zero” by 2050. The new Environmental Protection Law and Decree 08/2020 stipulate a road map to implement EPR for manufacturers and importers to collect and to recycle discarded products. The Asia Foundation is honored to organize this panel discussion with representatives from the Legal Department (MONRE) and members of VBF’s EWG to help the businesses to better understand how Vietnam’s EPR will operate and listen to any concerns from businesses on challenges they may encounter once EPR implemented. LINK to Agenda.

Meanwhile, we welcome your feedback on these and other issues to ensure we are aware of your top concerns. This report and prior Advocacy Reports are available on AmCham’s Advocacy page. LINK. Please send your feedback on what is working, what issues remain, and recommended solutions to relevant Committee Chairs and advocacyaction@amchamvietnam.com

Committee Meetings & Activities (For AmCham Members only)

September 23, 9AM: Agriculture Committee Meeting

September 27, 9AM: Tourism and Hospitality Committee Meeting

September 28, 9AM: Logistics and Supply Chain Committee Meeting

September 28, 9AM: VBF Environmental Working Group Meeting (in-person in Hanoi LINK and online LINK, Meeting ID: 920 2216 1790, Passcode: 277424)

Key Media Updates

Stay informed about key developments affecting your business by checking frequently – updated regularly on weekdays. On weekends, stay informed and connected through AmCham’s Facebook, Linked IN, and Instagram. LINK to our Key Media Updates.