Weekly eNewsletter
14th Week of 2021 - April 11, 2021
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AmCham Vietnam’s Vision:
The most influential, strategic, and dynamic business association in Vietnam, that drives innovation and sustainable growth, and helps our members succeed. AmCham is a diverse, inclusive, business association and welcomes American, Vietnamese, and international companies that share our interest in enabling a fair, transparent, and predictable regulatory environment that values innovation. A community you want to join.
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I hope you enjoyed a pleasant weekend. I was delighted to have a rare weekend off from extravert, and enjoyed a soda chanh at the Boathouse restaurant after my cardio class, with no weekend plans beyond yoga and a massage…
We are sad to see Ambassador Dan Kritenbrink depart Vietnam, but are excited about the farewell dinner tomorrow night, Monday, April 12 at the InterContinental Saigon. Please register ASAP if you haven’t already. We look forward to seeing many of you there to express our gratitude and wish him well on his new position back in Washington DC!
We look forward to seeing many of you in person or virtually at our Committee meetings this week: Tuesday VBF & Legal, Wednesday Energy with USAID Energy and Environment Director Robert Layng, Thursday Tax & Customs, and Friday, Agriculture.
Last week, many of the top Vietnamese government positions were announced. Please see our links to news reports, including the handy photo chart from VOV.vn. Click HERE.
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Learning how gender balance pays off in ROI for Private Equity and Venture Capital investors. Join us back on May 19 to see Gender Lens Investing in Practice: Investment Showcase. With sponsors AVPN, Australian Aid, and Investing in Women, and AusCham as partner. Many thanks to speakers AVPN Chief Product Officer Allie Hollowell, Australian Consul General Julianne Cowley, IFC EAP Lead for Gender and Economic Inclusion Amy Luinsta, Moderator Patamar Capital Partner Shuyin Tang, and Panelists Touchstone Partners General Partner Tu Ngo, Mekong Capital Partner Nguyen Thi Minh Giang, 500 Startups Partner Eddie Thai, and AusCham Executive Director Simon Fraser for closing remarks.
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Vietnam’s industrial and logistics real estate market has huge potential. Thursday’s Business Intelligence Briefing sponsored by JLL and NS BlueScope Viet Nam highlighted the opportunities and challenges. AmCham plans to launch a RE and Infrastructure Committee. Contact us at contact@amchamvietnam.com if interested. Many thanks to speakers: JLL Country Head Paul Fisher, JLL Senior Director of Markets Trang Bui, VSIP Marketing Director South and Central Nguyen Chi Toan, Tin Nghia CEO Thu Le, and DHL Supply Chain Vietnam Managing Director Drew Duncan. More photos HERE.
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AmCham is committed to Investing in the Future, in part through our AmCham Scholarship programs. More photos from last week’s 20th anniversary AmCham Scholarship award ceremony HERE including individual photos with each of the 60 Scholars!!. Please plan to join our follow-on May 27 Developing a Globally Competitive Workforce event!
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Good news!!! From now on, our members can settle event fees or membership dues with Momo and other mobile banking apps by clicking on the QR code option. Our offered payment method is advance payment via card, mobile banking app, e-wallet app, or bank transfer. We accept VISA, MasterCard, American Express, JCB, CUP, domestic debit cards, and a wide range of mobile banking apps and e-wallet apps. For more information or assistance, please click HERE to see our payment guideline or contact our Finance team at amcham.finance@amchamvietnam.com or +84 28 38243562.
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Greetings from Sunny Da Nang and I hope you are all well! It was great to meet with so many new potential members of AmCham to discuss in detail the benefits of joining and how everyone can collaborate across our network as well as through our 18 different Committees. Special thanks to Ha & Toni from Sunrise Potential Partners, Scott Reynolds form Olivia’s Prime, and Jennifer from Heven. Really great to meet with you all and I really appreciate all your enthusiasm and passion about Da Nang as well as what we can do together through AmCham!’
Also, please save the date – 23 April - for our next Da Nang Connect & Cocktails networking event on the ground floor of Pizza 4P’s at Indochina Tower. 4P’s is sponsoring its Food and Signature Craft Beers, with Champagne and Wines from Red Apron. It will be a fantastic event with great food and great people! Please come and join us! Registration details are coming soon on our website, and Facebook. Look forward to catching up with you all again soon!
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AmCham‘s Position Paper on the MPS Draft Personal Data Protection Decree (DPDP) was submitted to VBF on March 31, and to MPS on April 6. Baker & McKenzie Partner Chung Seck will represent AmCham to join a MPS workshop on DPDP in Hanoi on April 16, and share member concerns and recommendations. If you would like a copy of this position paper, please contact advocacyaction@amchamvietnam.com
AmCham’s VBF & Legal Committee still welcomes comments on MOF’s Draft New Insurance Business Law, as does our Capital Markets and Financial Services Committee, and Healthcare Committee. Please send any comments to advocacyaction@amchamvietnam.com
AmCham’s Healthcare Committee Medical Device Sector is taking the lead in compiling comments on the draft decree on capital borrowing, capital mobilization, joint venture, partnership, asset lease, and service provider hiring for public non-business units in the health-population sector. Please send any comments to healthcare@amchamvietnam.com. We expect to send final comments to DMEC - MOH by mid-April.
AmCham’s Energy Committee is compiling comments on the draft of the new solar electricity Feed-in-Tariff (FiT), in conjunction with the VBF Power and Energy Working Group. Please send any comments to energy@amchamvietnam.com
AmCham’s F&B Committee is compiling comments and recommendations on the draft decree regulating the State inspection on quality and food safety of imported goods in order to submit to the General Customs of Vietnam by mid-April. Please send any comments to food-and-beverages@amchamvietnam.com
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Committee Meetings & Activities (For AmCham Members Only) |
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Venue: InterContinental Saigon, Corner of Hai Ba Trung & Le Duan St., Dist. 1 |
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Venue: New World Saigon Hotel, 76 Le Lai, Dist. 1 |
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COVID-19 Update from Healthcare Provider Subcommittee Chair
Dr. Mason Cobb and Andrew Meadows
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As we await the vaccine, here are some updates and information on how the vaccines work and why.
- Vietnam has extended its original goal of 150,000,000 vaccines by the end of 2021,to "enough" vaccine for the entire population through 2022.
- This is because the EU and India have halted exports, even for the WHO Covax program. This is the main source for Vietnam.
- This program is now in 100 countries, with 25% of the vaccines from the USA.
- Vietnam is trying to secure more vaccines from Japan, USA, and Russia. There are also 3 indigenous vaccines in the testing phase.
- Vaccination means being eligible for a vaccine passport. This is close to realization in several countries. Vietnam is still working on criteria for the VaxPass. Testing has shown that the risk of transmission after vaccination is about 0.2%, which may be an acceptable risk, especially if pandemic precautions are still followed.
- Many expats, especially Americans, are considering going home, getting the vaccine, then returning to Vietnam. Currently, re-entry paperwork can take weeks, plus the 14-day quarantine, currently still required even if vaccinated.
We can play "Vaccine Sommelier" with the disclaimer that all approved vaccines are safe and effective. You may prefer the Malbec, but the Syrah is as enjoyable. The mRNA vaccines are a very promising technology. "Designer" mRNA is fitted specifically to the virus, informing the immune system. The beauty of the Pfizer and Moderna vaccines (only current mRNA types) is their effectiveness against new variants as they arise. As vaccine rates may plateau before herd immunity in countries such as USA, the virus can still further mutate into even more deadly and transmissible variants. mRNA vaccines can mitigate this risk. The older vaccines of attenuated or dead virus, still provide excellent immunity as they have since 1770. They will remain effective against current variants, especially against serious or deadly illness.
Side effects have been overhyped with blood clot risk at about 0.0003%: safer than crossing a HCMC street. However, mild flu symptoms are common, as is soreness, sometimes with swelling and a rash, at the injection site which are transient. Vaccines are safe, effective, and eagerly awaited.
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If you want to become an AmCham member, register here. If you have already renewed for 2021, you should have received your membership card already. If you haven’t, please let us know. If you haven’t yet renewed or settled your payment, please do so soonest so you can keep enjoying the benefits of AmCham membership!
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AmCham’s Member Discount Program supports local businesses that contribute to our quality of life, and also offer benefits to you, our members. For more information on participating businesses, or if you want to become an AmCham Member Discount Partner, click here.
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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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