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1 Good Evening. I m Mark Gillin, this year s Chairman of the AmCham Ho Chi Minh City Board of Governors, and I d like to welcome you to our 19th Annual General Meeting. We want to start promptly. This report will be a brief review of the highlights of the year. We ll put this and a more detailed report on the web site for members to download and read. [previous years reports have been downloaded more than 4,000 times Right after this meeting, we will have a cocktail buffet reception at the 5th Floor Atrium. We d like to thank our sponsors for supporting tonight s event.

2 At the Annual General Meeting, we conduct the following business, according to the AmCham Charter*: A. Report of the year s Activities B. Report of the year s accounts C. Election of members to the Chapter s Board of Governors by a simple majority vote of those voting. Again this year, voting was only by secure online ballot between about Nov 12 and 6:30 pm tonight. Ernst & Young has agreed to continue to verify and validate the results, and we should have the results by tomorrow afternoon. We have a lot better voter participation because of the convenience of the secure online ballot. 20% of voting members is a quorum. This year, our participation rate may reach nearly 40%. Also, it is better from an environmental point of view -- no paper and ink. *Note: above is from Article IV, Sec. A. of the AmCham Charter

3 As a reminder, there are 17 seats on the Board of Governors in 2014, and 18 in Terms are for two years, and alternate, so one-half of the Board is elected each year. Background With the term limits coming into effect in three years, at the time of the December 2016 Annual General Meeting, the Nominating Committee believed it was important to focus on broadening the base of those participating in leadership positions at the Board level. Other AmChams in the region have Boards of Governors that range from 15 to 28 members: Singapore 18 Thailand. 14 Philippines, 12 Hong Kong, 23 (fmr Chair is ex-officio Governor) Japan, 24; and Korea, 23 (incl. 4 former chairs and honorary governors). Candidates: Nominating Committee:

4 Some background, especially for new members. AmCham was re-established in Ho Chi Minh City with a Board Meeting on March 4, 1994, just about one month after the U.S. embargo on trade with Vietnam was lifted by President Clinton on Feb 3, So 2014 will be our 20th Anniversary, and we have plans to celebrate that in a number of ways. AmCham Vietnam was formally licensed by the People s Committee of Ho Chi Minh City on September 19, We have two chapters, one in HCMC and one in Hanoi. We operate independently for membership, events, etc., but cooperate on National Issues like BTA, WTO, TPP, Law on Lawyers, etc. Background Number of Companies shown is as of December [Note: The national AmCham Vietnam Board is the officers of the two chapters.] There was an active AmCham from about 1968 to 1975 in Saigon. Sesto Vecchi was Chairman twice, and Landis Hicks was also active on the Board of Governors. We may be like AmCham Shanghai, which says on its web site that it was established in 1915, and resurrected in 1987 after a break of 38 years. ( )

5 AmCham Vietnam in HCM City now has 463 member and associate companies and about 1,000 representatives, not including Honorary Members. As you can see, we have reached a plateau in membership since 2009, the year after the global economic crisis. At the same time, Vietnam has seen a decline in FDI in 2010, 2011, and We hope that the TPP and the recent WTO Bali Package will stimulate reform efforts in Vietnam that will improve business conditions and increase both FDI in Vietnam and membership in AmCham About 36% are U.S. companies (168), including both those legally established here (blue-141), and the Non-Resident U.S. companies (green-27) that are coming, but aren t yet legally established here with an Investment License or Rep Office License. About 37% are international firms (red) (173) involved in trade and investment between the United States and VN, for example, shipping companies (APL, Maersk-Sealand), banks (HSBC, ANZ), apparel, footwear, furniture manufacturing companies producing for major U.S. brands, business services (legal, accounting), etc. About 26% are Vietnamese firms (green) (122) involved in US-Vietnam trade and investment, for example, AA Corporation, a major furniture

6 Our key pillars are Networking, Information Sharing, and Advocacy. Networking opportunities are important for AmCham members. Both professional and social. This year we organized NEARLY 50 Events for Members, including lunches, morning briefings, business roundtables and networking nights, and other information and networking opportunities. These events are great opportunities to learn about issues and have a chance to visiting senior government and business leaders and to network with fellow members. Photo: Seminar on Trade Finance with Ex-Im Bank, Oct 2012

7 We often have Congressional Delegations, Staff Delegations, but just had one this year, a General Election Year. We did have a bi-partisan Senate Staff Delegation visit in the Spring to discuss TPP, which provided a good information exchange opportunity. Photo: Fred Burke at a briefing with U.S. Government TPP Negotiators, followed by a Cocktail Reception, Jun 17, 2011

8 We#also#have#opportuni0es#to#welcome#and#brief#senior#U.S.#officials#that#are#visi0ng# Vietnam#on#key#issues#facing#U.S.#businesses#and#U.S.#ci0zens#in#Vietnam.# # Once#again,#we#haven t#had#many#u.s.#government#officials#visit#hcm#city#this#year.# # Photo:#Jocelyn#Tran#welcoming#U.S.#State#Department#Deputy#Secretary#John# Negroponte,#Jan#22,#2008#

9 We#enjoy#Members#Nights#and#usually#organize#three#or#four#a#year.## # THIS#PHOTO#IS#FROM#OUR#November#22,#2013#Members#Night,#where#we# introduced#new#consul#general#rena#biver,#and##many#new#officers#at#the#u.s.# Consulate#General.#

10 And we have continued our popular and informal Palooza Parties, which are open to the general community..

11 Our Independence Day Family Picnic is always a favorite. We had about 600 guests at our event at the Riverside this year. Please click the below links for highlight videos: v. 2

12 And of course, the Governors Ball, which we had just last Saturday This is from our 2011 Governors Ball - A Hawaiian Christmas, with Diamond Head and Waikiki Beach in the background. Each year we do a city or region in the USA 2013 Christmas in New England Theme: Sponsors Christmas in San Francisco Theme A Hawaiian Christmas Theme Video Blue Christmas with Elvis Presley

13 This year our theme was Christmas in New England. Maybe you can see the fireplace in the background. In the foreground are AmCham Scholars, who are preparing to go to tables selling raffle tickets. Again this year we had about 400 guests enjoy the festivities at the Intercontinental We had great food and beverages, entertainment, theme decorations, videos, of course. We also had fabulous silent auction items and Raffle Prizes, including THREE SETS OF TWO round trip tickets to that USA on Emirates Airlines, ANA, and United Thanks to generous cash sponsorships and receipts from Silent Auction and Raffle Tickets sales, we have net revenues of just under $50,000 for our Community Development Grants Program, and AmCham Scholarship Program. Photo: Mark welcoming guests, introducing the AmCham Scholars, who will go around to tables selling raffle tickets.

14 Based on funds raised at AmCham Governors Balls over the ten years from the AmCham Grants Program has supported 59 projects with grants valued at more than US$230,000 based on funds raised at the annual Governors Balls. In 2013, the program supported 5 grants valued at more than US$ 21,000 based on funds raised at last year s Governors Ball Click the below link to view a highlights video played at the Governors Ball, and during the prelude stage of tonight s meeting

15 A major AmCham CSR priority is to support education, and our flagship program is the AmCham Scholarship Program. This year was our 13th Anniversary. In the 13 years since we started the AmCham Scholarship Program in 2001, we have given nearly 566 AmCham Scholarship and Honorable Mention awards, with total monetary value of more than 5 billion vnd [about $240,000 at 21,000 = $1] On Nov 30, I participated in the 2013 award ceremony, attended by nearly 250 people, students and family members, universities representatives, where 74 students received AmCham Scholarship and Honorable Mention awards. It was a great event, with palpable excitement in the air, especially for the students, and many AmCham Scholar Alumni/ae sharing in the memories of their award ceremonies in previous years. Our regular and sustained contributions, over more than a decade, have built and are building a legacy, which has been recognized not only by the recipients, but also by the Chairman of the People s Committee of Ho Chi Minh City, who has awarded a number of Certificates of Merit (Bằng Khen) to AmCham for our CSR programs. Photo: AmCham Scholars 2013 Videos:

16 Our main priority in AmCham is advocacy to improve the business environment to promote trade and investment between Vietnam and the United States. Our mission is to help make Vietnam the best business environment in Southeast Asia. Key issues that we have been and are addressing. The BTA, Vietnam s WTO Accession, Apparel Trade (which accounts for about 40 % of U.S. imports from Vietnam), Labour Relations. Project 30 / Administrative Reform (cutting red tape), etc. This year we have really focused on the TPP, and have organized about ten events together with Vietnamese and FDI partners to promote understanding and support for the TPP, which we hope will be concluded soon. We have also organized activities like the recent Customs - Business Dialogue Meeting with Vietnam Customs Deputy Director General and the Vice Chairman of the People s Committee. Looking forward to 2014, we want to schedule Dialogue Meetings and training sessions for Vietnamese businesses to help them share with FDI companies the benefits from the WTO, TPP, and ASEAN 2015 agreements.

17 Looking back, we started from a pretty low base before the BTA was signed, less than a billion dollars a year in total two-way trade

18 With a lot of AmCham effort and support for both the US and Vietnamese Governments, we reached a Bilateral Trade Agreement that went into effect in December 2001, and Vietnam became a member of the WTO in January Total U.S.-Vietnam trade has expanded rapidly, and may reach $28.7 billion this year. (based on actual trade statistics Jan-Sep), and nearly $60 billion by 2021, and that s not considering the impact of TPP. We all have benefited from this trade, both those directly involved in the trade and those providing services to the importers and exporters. And those of us that benefit from the multiplier effects of these VN exports as they spread through Vietnam s economy.

19 This slide gives highlights of our accounts. This information will be on the web site, so you can download and see the details. Highlights: Program activities $229,122 slightly more than last year. Sponsorships are down Membership Dues $301,046 a bit more than last year Total Operating Revenues $564,418 CSR Program Revenues $170,122 down a bit Total Revenues $734,540 about the same as last year Total Expenses $729,611 slightly down from last year Net Surplus/Shortfall $4,928 The major reduction after 2011 was the $80,000 in United Way Donor Advised Giving in 2011, without this CSR revenues that year would have been about $150,000, so we are showing increased CSR in 2012 and 2013.

20 This is the list of candidates for this year for election to a two-year term, Jan Dec 2015, which I mentioned at the beginning of the presentation.

21 This is the list of Governors elected last December for a two year term, Jan Dec 2014 I d like to take a moment to THANK THIS YEAR S BOARD OF GOVERNORS FOR THEIR ACTIVITY AND SUPPORT OVER THE PAST YEAR. We are all very busy this year, but this Board has taken time from their schedules to participate regularly in monthly Board meetings, Members lunches and members nights, and many other events and activities. Thank you all for your great support. Sharing: Christopher Twomey Chad Ovel Jonathan Moreno Sherry Boger

22 That concludes the business of the Annual General Meeting. After the meeting, we will have cocktails buffet reception in the Atrium on the 5 th Floor. Do I hear a motion to adjourn? Second? All in favor say Aye, opposed Nay. The Ayes have it; the meeting is adjourned

Annual General Meeting

Annual General Meeting Report 2017 HCMC, Dec 5, 2017 On behalf of AmCham Vietnam, HCMC Board Mr. Jonathan Moreno, Chairman AmCham: Executive Committee Walter Blocker Vice Chairman Jonathan Moreno Chairman