Dear AmCham,

I hope all of you had a chance to rest and recharge over the late April and early May holidays.

Microsoft CEO Satya Nadella visited Southeast Asia last week, announcing major investments in the region in the coming years. According to news reports, the company sees a significant opportunity driven by artificial intelligence (AI) in this fast-growing part of the world. Although no specific investments in Vietnam were announced, Nadella did reveal plans to enhance AI skills across Vietnam, Thailand, Malaysia, and Indonesia by 2025. Read more below.

On April 24th, in partnership with member company Dentons LuatViet, we hosted a seminar called Ethics and Compliance Investigation in the Workplace. Firm Partner Eva Szurminska Jaworska and Sr. Associate Anh Duc Nguyen covered regulations and procedures, while a panel with HCMC Governor Giovanni Rojas moderated by WeAtWork.co founder Ha Dang focused on experiences and learnings.

Our monthly Connect & Cocktails networking event took place that same day at the Grand Marina Saigon Gallery, courtesy of member company Masterise. Participants were able to tour the newly finished Marriott Residences and take part in our AmCham Trivia and Lucky Draw hosted by HCMC Governor Jesse Boone.

On Friday, April 26th in partnership with the U.S. Consulate General in HCMC, we organized a luncheon event with CDC Foundation CEO and President Dr. Judy Monroe regarding Opportunities for Partnerships in Healthcare. Dr. Monroe shared with participants insights from her visit to Vietnam, which inspired a discussion on areas of opportunity for public health in the country.

On that same day, Food & Beverage Committee leaders including Co-Chair Ha Vu (Zuellig Pharma Vietnam), Legal Advisor Han Tran (Russin & Vecchi), and Hanoi Governor Mai Bui (Coca-Cola Vietnam) met with officials from the Ministry of Culture, Sports and Tourism for a dialogue on recently submitted comments to the Draft Advertising Law.

More below on our advocacy efforts, a selection of news stories, and upcoming events and Committee meetings.

Please keep your feedback coming at team@amchamvietnam.com.

RamC

We thank all members who have recently shared their comments on draft legislation currently being discussed.

• Draft Advertising Law: representatives from the he Food & Beverage and Manufacturing Committees will meet this week with officials from the Ministry of Culture, Sports and Tourism for a more focused discussion on our recently submitted comments.

• Draft Union Law: we are seeking comments from members through May 10th. Once compiled, these will be reviewed by the Human Resources and Manufacturing Committees.

• Draft Employment Law: received comments were compiled and reviewed by the Human Resources and Manufacturing Committees, before being sent submitted to the Ministry of Labor, Invalids and Social Affairs.

• Draft Value Added Tax (VAT) Law: received comments were submitted to the Ministry of Finance and the Government Office after being reviewed by the Tax & Customs Committee and the AmCham Hanoi chapter.

Members are encouraged to bring forward any advocacy needs or related questions the relevant Committees, or by email to advocacyaction@amchamvietnam.com.

[CNA] Vietnam April exports up 10.6% y/y, industrial output up 6.3%. Vietnam's exports in April are estimated to have risen 10.6 per cent from a year earlier to $30.94 billion, led by shipments of electronics, while industrial output in the month rose an annual 6.3 per cent, government data showed on Monday.

[Vietnam Investment Review] FDI disbursement in January-April period reaches five-year record. The total foreign direct investment (FDI) disbursed in Vietnam in the first four months of this year is estimated to reach 6.28 billion USD, up 7.4 per cent year on year, the highest four-month amount in the past five years, reported the General Statistics Office (GSO).

[Bloomberg] Coffee Variety Is Priciest Since 1970s in Blow to Instant Brews. Robusta coffee prices have climbed to the highest in 45 years, according to the International Coffee Organization, as a supply crunch intensifies for the variety used in espresso blends and instant drinks.

[AP] Microsoft will invest $2.2 billion in cloud and AI services in Malaysia. Microsoft is investing $2.2 billion over the next four years in Malaysia’s new cloud and artificial intelligence infrastructure as well as partnering with the government to establish a national AI center, its CEO Satya Nadella said Thursday.

[The Economist] Chinese firms are expanding in South-East Asia. This new business diaspora is younger, better-educated and ambitious.

[Nikkei Asia] Companies welcome common standards as Vietnam prepares CO2 rules. No matter the industry, private companies tend to resist government regulation. But this tendency is beginning to change when it comes to environmental rules.

[CNBC] Solar manufacturers petition U.S. to impose tariffs on imports from four Southeast Asian nations. First Solar and six other manufacturers allege that Cambodia, Malaysia, Thailand and Vietnam are flooding the U.S. market with cheap solar cells that threaten the domestic industry.

[CNA] Vietnam temperature records tumble as heatwave scorches South and Southeast Asia. More than 100 temperature records fell across Vietnam in April, according to official data, as a deadly heatwave scorches South and Southeast Asia.

Members are welcome to join, in-person or virtually:



• Energy Committee Meeting: Tuesday, May 14 - 3:00pm

• HR Committee Meeting: Thursday, May 16 - 9:00am

• Manufacturing Committee Meeting: Friday, May 17 - 9:00am

• Digital Economy & Technology Committee Meeting: Tuesday, May 21 – 9:00am

• Logistics & Supply Chain Committee Meeting: Wednesday, May 22 – 9:00am

• Healthcare Committee Meeting: Wednesday, May 22 - 4:15pm

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