[ENG] ICHAM NEWSLETTER No.2 2021 by ICHAM Vietnam

No. 2 2021

NEWSLETTER

TABLE OF CONTENTS

NEWS Workshop “Solar Power for Factories - Everything you need to know”

MoU between ICHAM and Hanoi University

HANU’s workshop “Job and Internship Opportunity for Students of Interpreting & Translation Major”

MoU between ICHAM and Thang Long University

Webinar “Webinar Draft Decree on Personal Data Protection” with D’Andrea & Partners

True Italian Taste 2021 - Press Conference

Connections for Development Forum 2021

ICHAM Executive Director’s Interview on Vietnam Financial Times

ICHAM Executive Director on Vietnam Investment Review

Webinar “Substantial changes to the Law on Securities – Legal and Practical Outtakes”

Webinar “Key Business Trends Across Economies: China, India, Vietnam Focus”

Webinar “Is Vietnam a High-Tech Manufacturing Go-To Destination?”

Executive Director on “Ci Vediamo In Camera” - True Italian Taste Project

Roundtable Sharing “Business Prospect After One Year of Pandemic”

Webinar “Vietnam as a Strategic Market for Italian Companies”

Webinar “Foreign-invested company incorporation in Vietnam under the new regulation and EVFTA”

Webinar “Vietnam: A race, A dream, A challenge – The opportunities of the Asian country in the light of recent free trade agreements with the EU”

Women in Business Sector Committee - EuroCham

MARKET INFO WINECELLAR.VN

Introduction of VTD Smarthome

UPCOMING EVENTS DISCOUNT PARTNER

Workshop “Solar Power for Factories Everything you need to know”

n the morning of April 07th at Datalogic’s Factory in Saigon High-tech Industrial Park, ICHAM has successfully hosted the workshop “Solar Power for Factories – Everything you need to know” in collaboration with BEC Bestiani Engineering Company, Datalogic Vietnam and Bonfiglioli. The event was attended by H.E. Dante Brandi - Consul General of Italy in HCMC, Mr. Michele D’Ercole - ICHAM Chairman and Mr. Paolo Lemma - Director of Italian Trade Agency (ITA) The workshop gave participants a closer look into how the solar technology could be implemented for large consumption scale such as factories and industrial zones, with realistic opinion and sharing from Datalogic and Bonfiglioli both of whom have installed and used the solar system. Updated data on the current electricity market in Vietnam and the practice of integrating solar power into conventional power network was also featured. Key highlight of the event was the Factory’s Solar System Tour, where our participants were shown around the facility and received detailed introduction and explanation from BEC’s and Datalogic’s representatives. To also help business representatives update with the solar power knowledge, a similar event will be organized in Hanoi in the near future.

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MOU BETWEEN ICHAM AND HANOI UNIVERSITY

pril 07, 2021 was the day ICHAM and Hanoi University signed the Memorandum of Understanding, marking a new stage in the partnership between the two parties. The MoU was signed by Sir Hoang Hai PHAM Executive Director of ICHAM and Associate Professor Nguyen Van Trao, PhD. - Head Master of Hanoi University.

With this agreement, both ICHAM and HANU will: - Cooperate in student training and retraining of human resources for businesses through training programs, seminars; - Cooperate in recruiting, introducing and supplying human resources, meeting the demand for labor resources for businesses; - Cooperate and support students, lecturers and enterprises in the process of collecting learning materials, listening in for practice, providing internship and doing research; - Coordinate to organize training programs and other activities, proposed and agreed by both parties, that relates to student and business relations. We look forward to upcoming activities with HANU to strengthen and boot labor force’s ability in the ever-growing market of Vietnam.

HANU’S WORKSHOP “JOB AND INTERNSHIP OPPORTUNITY FOR STUDENTS OF INTERPRETING & TRANSLATION MAJOR” On April 28th, 2021, ICHAM once again joined Hanoi University (HANU) in providing guidance for Italian-major students at HANU’s Workshop “Job and Internship Opportunity for Students of Interpreting & Translation Major”. The workshop was attended by Sir Pham Hoang Hai - Executive Director of ICHAM, Mr. Ngo Anh, Head of News & Event Department of VTC14 channel, VTC - Multimedia Corporation, Mrs. Nguyen Le Chi, Editor at Kim Dong Publishing House and Mr. Tran Thanh Quyet, Dean of Italian Language Faculty.

During the workshop, students received advices, instruction and insivghts on the current job market, opportunities for Italian-language intern positions from the guest speakers. Various activities were also organized including: Online Quiz on the topic of Translation & Interpreting Major; “Escort Interpreting in Diplomacy: Rituals and Professional Skills” speech from Mr. Nguyen Hoang Phuong - Apprenticeship Deputy Director, Foreign Policy Department, Ministry of Foreign Affairs; “Traduttore, traditore?” of translator Nguyen Xuan Hong. NEWS - PAGE 5

MOU BETWEEN ICHAM AND THANG LONG UNIVERSITY On April 14th at Casa Italia, ICHAM has had another chance to accompany educational institutions as we signed the MoU with Thang Long University. Attended the ceremony were Sir Pham Hoang Hai – Executive Director of ICHAM and Mrs. Stefania Iuliano – Commercial Attachée, Embassy of Italy in Vietnam. Joining with ICHAM were PhD Phan Huy Phu, Rector of Thang Long University, PhD Vu Do Quynh – Vice-Rector of Thang Long University in charge of International Cooperation, Director of University-Enterprise Center (UEC) and M.S Nguyen Duy Thanh, Lecture of Economy & Management Faculty, member of UEC. Both parties have come to mutual agreement on the following: •

The Parties shall organize meetings for representatives of both Parties to examine the effectiveness and implementation of the (MOU)

•

The Parties will encourage the organization of events and workshops including and will help each other in establishing recruitment news amongst its members.

•

The Parties shall also encourage connection between the students and members’ companies.

It is our pleasure to work alongside Thang Long University to empower labor workforce and strengthen the connection between workforce capability and enterprises’ needs.

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armonization with international standards, integration into global value chains, digitalization, challenges and opportunities for Italian companiesin Vietnam. These were the main topics discussed during the webinar on April 15th on the new law proposal on the protection of personal data in Vietnam, promoted by the D’Andrea & Partners law firm and by the Italian Chamber of Commerce in Vietnam (ICHAM). Attending the webinar were Mr. Filippo Scaglia – Legal Advisor of D’Andrea & Partners Legal Counsel Vietnam (D&P), while for discussing the practical implications the webinar was joined by Mr. Simone Ciampi, General Manager of Exprivia IT Solutions (China) and Mr. Bruno Sivanandan-Roques de Borda, Head of PDP Task Force, Member of Digital Sector Committee at EuroCham Vietnam. For the welcoming remarks, the organizer had the honor of having Mr. Dante Brandi, Consul General of Italy in Ho Chi Minh City, and Mr. Michele D’Ercole, Chairman of ICHAM Vietnam. The moderators for this event were Ms. Gaia Rizzi from EASTANT Communication & Events and Mrs. Divya Hazra from D’Andrea & Partners Legal Counsel. To begin the webinar, Mr. Michele D’Ercole – Chairman of ICHAM introduces the webinar being part of a webinar series conducted between ICHAM and D&P since 2019. The series started off the year 2021 with a very specific topic of personal data protection as on February 9th, 2021, the Ministry of Public Security (MPS) released the second version of the draft decree to collect public opinion until September 9th, 2021. Remarking personal data as a sensitive and yet, important issue in both Vietnam and Italy,

General H.E Dante Brandi, who illustrated the philosophy of the data protection regime in force in the European Union and the objectives of progressive integration and inspiration that the Vietnamese proposals appear to draw from it. Mr. Filippo Scaglia proceeded to presented about the second version of the Draft Decree, which will officially enter into force since December 2021 if changes are not required. The draft decree provides the following key takeaways: • Broad scope of application: It involves any agency, any institutions that deals with the data processing in Vietnam • Article 20 (Registration of processing of sensitive personal data) and Article 21 (CrossBorder Transfer of personal data) provide an overly strict compliance procedure for regular business activities • Permit from data subject is required for processing sensitive personal data • Data Processor should implement a storage system of data transfer history for a 3-yearperiod • No grace period is provided so far • Two types of personal data: basic and sensitive • A maximum fine of 5% of the total revenue generated in Vietnam

The panel discussion was joined by Mr. Bruno Sivanandan and Mr. Simone Ciampi in discussing and comparing Vietnam’s Data Protection Draft Decree with European GDPR (General Data Protection Regulation) and the China Data Protection Law and its implementation. While the data protection system in Vietnam has been fairly new and in the process of system building, both panelists noticed the similarities between the regulation of Vietnam and China as China Michele believed the webinar and panelists has been implementing the data protection would provide crucial insights for business regulation for a short period and taking steps representatives to keep track of and adapt by steps to revise and develop the terms. with the changes, especially when Vietnam government was going through leadership To learn more in details the topic, please watch transition. The floor was then given to Consul D&P’s webinar recording by clinking this link. NEWS - PAGE 7

TRUE ITALIAN TASTE 2021 ∙ PRESS CONFERENCE ∙ In early 2021, ICHAM kicked off with the first event with the Pasta Master Class that took place at the end of January at Hotel Metropole Hanoi with the participation of companies in the field of importing and distributing Italian food, representatives of restaurants, hotels, chefs, and individuals in the F&B industry. Following the success of previous events, True Italian Taste 2021 includes five events to be organized with creativity in content and form. The next event of the project is held in the form of a contest with the theme of Italian Kitchen Style in Hanoi. The contest promises to have new, creative changes from form to participants while retaining the purpose of introducing and promoting the rich Italian menu and cuisine, providing information and knowledge for consumers to distinguish the standards of Made in Italy products from counterfeit products and Italian-sounding products. The highlight of the next series of events is the combination of two events divided into three rounds of competition. For the first qualifying round, the organizers integrated the Master Class sessions with the participation of professional Italian chefs to provide information and knowledge to contestants, and contestants can directly exchange and learn together. In the semi-finals which is postponed due to the pandemic, players will rely on the knowledge gained from the Master Class to cook at home and record the process, take photos, and send them to the organisers. The final round will include excellent individuals overcoming the first two rounds to try their best to complete a menu for the Authentic Italian Table. PAGE 8 - NEWS

Compared to previous events, this competition is expected to be much more diverse as participants can be anyone aged 18 and over who have a passion and ability to cook Italian food. In the past five years, Italy’s export turnover to Vietnam has increased by 78 per cent, reaching $1.5 billion in 2020. Of this, exports of agricultural products and foodstuffs increased by 86 per cent, accounting for 6.7 per cent. In order to further promote the promotion of food and beverage products originating from Italy to Vietnamese consumers as well as culinary and cultural exchanges, the national culinary promotion True Italian Taste project is implemented by the Italian government in 40 countries and territories. The project has been operating in Vietnam since 2019. ICHAM has been appointed by the Italian government as the implementing agency for this project in Vietnam.

Connections for Development Forum 2021

n the afternoon of April 26, in Hanoi, the Ministry of Foreign Affairs cooperated with the Vietnam Economic Times to organize the Connections for Development Forum 2021 with the theme: Connecting localities – businesses, seizing new opportunities and the 20 Anniversary of golden dragon awards, as well as Announcing and Honoring Top 10 sustainable and typical FDI enterprises in 2020. Attending the forum includes Mr. Pham Binh Minh, Member of the Politburo, Deputy Prime Minister; Mr. Bui Thanh Son, member of the Party Central Committee, Minister of Foreign Affairs; Mr. Vu Tien Loc, Chairman of Vietnam Chamber of Commerce and Industry, and representatives of 63 provinces and cities; ambassadors, representatives of trade promotion organizations, foreign business associations, and more than 200 FDI enterprises and Vietnamese enterprises. Representing ICHAM at the Forum were ICHAM Chairman Mr. Michele D’Ercole and Executive Director Sir Pham Hoang Hai. The 2021 Vietnam Connections for Development Forum was jointly hosted by the Ministry of Foreign Affairs and Vietnam Economic Times. The event is of great significance when Vietnam has spent 33 years attracting foreign direct investment (FDI) and is facing the opportunity to welcome the 4th wave of FDI attraction with promising potential technological “Eagles” project. This year’s forum became a connecting activity with practical significance for localities, domestic enterprises, and foreign investors to openly exchange about each other’s needs, potentials, and advantages. Those establishment identifies new investment opportunities, plans and measures to promote cooperation for the benefit of localities, businesses as well as for the common development of the country.

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ICHAM Executive Director’s Interview on Vietnam Financial Times Excerpt from TBTCVN – By Thao Mien On May 5th, 2021, Sir Pham Hoang Hai – Executive Director of ICHAM was interviewed and featured in the article titled “Attract FDI: Promote Advantages to Attract Potential Investors” of Thoi Bao Tai Chinh Viet Nam (Vietnam Financial Times). Commenting on the prospect of investment trends of foreign enterprises, Sir Pham Hoang Hai said, in the context of the global Covid-19 pandemic from 2020 to now, many Italian enterprises have delayed or completely canceled investment projects abroad. However, some enterprises in the automation, IT, and high-tech segments, due to the specific nature of the market in the future, will mainly focus on Southeast Asia and countries with young populations like Vietnam, so they will still increase invest. “I think, for IT and high-tech businesses, the Southeast Asian market, especially Vietnam, is probably the “only way out” to be able to continue to develop in the coming years.”, said Mr. Hai. Answering the question of how to take advantage of this wave of investment shift, Mr. Pham Hoang Hai said that besides improving the business and investment environment, multiple mentioning of policies, there is an essential need to deliver better communication. According to Mr. Hai, we can emphasize that Vietnam has a safe environment. It is safe as in 2020, Vietnam is one of four countries in the world with positive growth and this year, international organizations forecast that Vietnam can return to a recovery rate of more than 6.5%. GDP. If you look at the numbers, not many countries in the world have such attraction. This is the where we need to do better at communication. Next, it should be emphasized that businesses run as usual in Vietnam, not affected greatly by “lock down” problem and social distancing. Although the Internet is very popular, this fact is not known to all countries and not all media are universal. Full article (in Vietnamese) can be found via this link.

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ICHAM Executive Director on Vietnam Investment Review Excerpt from VIR – By Thai An The business community and non-Vietnamese employees have expressed dismay over changes in requirements to qualify as a foreign expert worker under Decree No.152/2020/NDCP, which took effect from February 15 and regulates the recruitment and management of overseas workers coming to work in Vietnam. According to Clause 3, Article 3 of Decree 152, a foreigner entering Vietnam for work shall be considered an expert in one of the two standards. Specifically, he or she is required to have a university degree or higher, and at least three years’ work experience in his/her field corresponding to the role that he/she will be appointed to in Vietnam. Otherwise, he or she is required to have at least five years’ work experience and a practicing certificate corresponding to the role in Vietnam. Special cases shall be approved by the Prime Minister, following recommendations from the Ministry of Labour, War Invalids, and Social Affairs. Compared to Decree No. 11/2016/ND-CP issued in 2016, requirements related to the qualifications essentially remain the same, but Decree 11 only required foreign experts to have a certificate from any overseas agency, organization, or enterprise confirming their expertise, and did not specify the prerequisite length of work experience.

Vietnam is also increasing. So how can Vietnam filter out unqualified workforce to help the local HR market solidify and be more competitive? We believe Decree 152 was made to resolve this. However, we do not agree completely. The world economy is changing so fast and along with it is the labor force. There are many new businesses and industries that do not have a track record of the required few years. It is especially true for the IT industry and the digital economy. How could an expert – no matter how successful – of a new business have an academic degree for an industry that has not existed until 2-3 years ago? We believe the local authorities should be flexible enough to resolve this dilemma and we would suggest a few points. If the employer can demonstrate that the foreign personnel they intend to hire possesses competence/ expertise that is necessary for the job and which Vietnamese staff can “barely” satisfy, there should be no difficulty in employing them. Vietnam should open up its labor market to countries which accept Vietnamese workers without technical barriers. We are aware that this is still ambiguous, but given the times we live in, we think it is the most practical and efficient way.”

During the interview regarding his opinion Read full article: Formidable rules vex foreign about the changes, ICHAM Executive Director employers Sir Pham Hoang Hai expressed: “First of all, I’d say we partially agree with the scope of Decree 152 which has just been circulated by Vietnamese authorities. Due to the COVID-19 pandemic, many economies around the world are struggling to get out of the crisis and to recover. In order to do so, one of the main issues is to reduce the unemployment rate. Meanwhile, the Vietnamese economy is integrating deeper into the global economy and the inflow of foreign workers – experts, investors, staff and senior staff, among others – coming into NEWS - PAGE 11

n May 18th, 2021, The Italian Chamber of Commerce in Vietnam, together with dMTV Global and Dragon Capital Group, have successfully hosted to webinar “Substantial Changes to the Law on Securities – Legal and Practical Outtakes”, receiving the attention of over 60 business professionals from all areas and successfully creating a space for further discussion into the latest changes to the Law on Securities. Co-hosted by 12 Business Associations, the webinar was coordinated by Sir. Pham Hoang Hai – Executive Director of ICHAM, and joined by seasoned business minds Mr. Federico Vasoli – Founding Partner of dMTV Global and Mr. Dominic Scriven, OBE – Founder and Executive Chairman of Dragon Capital Group. The changes to the Law on Securities took effect on January 1st, 2021 (Law on Securities No. 54/2019/ QH14). According to Mr. Federico, the idea of these changes was to introduce more stringent rules on public office, and in general to enhance the role of auditors, consulting companies, and the state of the regulator, basically fill some loopholes that existed under the old regime. There were clear rules on mandatory public office (MPOs) that were open to interpretation. The ERC investment registration certificate was, from there on, mandatory for securities companies, in addition to the SEC licensing. The rationale of the law is to provide more tighter rules to protect investors and stakeholders in general including the state. For instance, the additional shares may only be offered when the business is profitable. New prohibited behaviors and security stock market activities are also introduced. Most important change is the dual system of the Hanoi Stock Exchange and HCM Stock Exchange will be replaced through time with the establishment of the Vietnam Stock Exchange, that goes along with the establishment of the Vietnam Securities Depository and Clearing Corporation (VSDCC). This will essentially abolish the existence of the securities trading sector. Mr. Dominic Scriven continued the topic by sharing about the Vietnam Market and Economy. In this section, the audience were informed with the full picture of Vietnam’s economic development path and environment through performance history, leading indicators, latest policy, etc. Concluding the presentation, Mr. Dominic restated that the Vietnamese has been and continue to be on the path for an emerging market. It’s going to take sometimes to reach the goal but underlying growth is solid. Companies are improving their performance in terms of governance, transparency, dependability, and investor relations. Therefore, there’s a strong likelihood of foreign investors returning to Vietnam, when they get over that COVID worries and for perhaps, more importantly, a strong continued growth in interest from domestic Vietnamese investors. The webinar recording is available via this link.

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The panel dedicated to Vietnam was opened with remarks from Michele D’Ercole of ICHAM Vietnam, then joined by Legal Advisor Filippo Scaglia, Michele Bianchetti - MBA of Copan Group, and Mr. Alessio Magnavacca of Ariston Thermo Group. Vietnam is one of the few countries witnessing a stable positive GDP growth rate, with 2.9% as of 2020 and 4.48% for the first quarter of 2021. Waves of Covid occur now and then but local market still showed strong development as factories were not closed even during lockdown. From micro economic outlook, Vietnam’s population is in the golden age (over 70% population is of working age) with the number continuing to grow, estimated to reach 100 million by 2024. Urbanization grows as the urban population increase at 2.7% rate reaching 40 million residences, making it one of the countries with fastest growing middle class. The GDP is expected to experience 6.5% growth in the next 4 years. Since 2013, domestic market has been observing a job increase of 10% per year. In 2019, reach over 38b$ foreign investment in Vietnam.

Webinar “Key Business Trends Across Economies: China, India, Vietnam Focus” ICHAM Chairman Mr. Michele D’Ercole has had an insightful sharing session with Italian businesses in the very first DP Group Asia-Pacific webinar on May 20, 2021. Moderated by Ms. Gaia Rizzi and Ms. Veronica Gianola with the participation of over 10 experienced speakers, the webinar provided clear information of the market insights, growth trends and prosperous sectors in China, India and Vietnam.

Italy is one of the most important trade partners of Vietnam in Europe. The bilateral trade value between Italy and Vietnam is approximately $4.6 billion, Italy’s total export to 1.2 b $, mainly machineries for food, food processing, textile, leathers, chemicals, etc. To date, Vietnam has signed 14 free trade agreements, the most recent – EVFTA reduce almost all product tax to zero between Vietnam and European countries. Green economy is also the focus point in development strategies of Vietnam, which create more opportunity between the two countries as Italy has been well-known for its green technology development. With all the positive signs of Vietnam economy, advantages from 14 FTAs and an ever-growing market filled with young and enthusiastic labour force, Italian companies can be assured to achieve stable growth when doing business in the S-shaped land.

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Webinar “Is Vietnam a High-Tech Manufacturing GoTo Destination?”

At 3PM on May 27, 2021 (Vietnam time), the webinar “Is Vietnam a High tech Manufacturing go-to destination?” took place with the participation of speakers from Datalogic Vietnam, ICHAM and LHC. Co-hosted by EuroCham, DBAV, CEEC and BeluxCham, the webinar was moderated by Sir Pham Hoang Hai - Executive Director of ICHAM together with two speakers: Ms. Huyen Nguyen - Investment Consultant of Long Hau Corporation and Mr. Chung Dang - Plant Manager of Datalogic.

Thanks to our participants’ enthusiastic involvement to the topic, we have had a successful webinar featuring updated insights on hot issues surrounding investment models in high-tech manufacturing and high-tech supporting industries in Vietnam; Insights into policy, infrastructure & workforce and support services when businesses choose to invest in Vietnam. You can always catch up with the discussion via the recording video: https://youtu.be/WnLEx8ZtnU

Executive Director on “Ci Vediamo in Camera” True Italian Taste Project In the sixth episode of “Ci vediami Camera”, Sir Pham Hoang Hai – Executive Director of ICHAM along with representatives from five international Italian Chambers of Commerce joined in a talk-show on the topic of Italian cuisine in foreign cultures such as Vietnam, Japan, Brazil, German, China, and Mexico. Through the talk-show, Mr. Hai and his colleagues at international Chambers share about different aspects of the host culture and how native residence cook and enjoy Italian argi-food products like pasta in their daily life. “Ci vediamo in Camera” is the new infotainment format, a food talk in all respects that hosts professionals, experts, opinion leaders and

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people connected to the topics and objectives dealt with. The show featured the participants of Italian Chambers of Commerce abroad and is part of an even more important project called “True Italian Taste” created by Assocamerestero and financed by the Ministry of Foreign Affairs and of International Cooperation. The project aims to enhance the “Made in Italy” agri-food products and fight a widespread phenomenon - Italian Sounding - that threatens Italy’s economy and the vision of Italian products abroad. The Sixth Episode of “Ci Vediamo in Camera” is available via this link.

Roundtable Sharing “Business Prospect After One Year of Pandemic” On June 8th, 2021, the Roundtable Sharing “Business Prospect after one year of pandemic” for ICHAM member companies took place successfully with the presence of Italian Ambassador H.E. Antonio Alessandro, Consul General of Italy in HCMC H.E. Dante Brandi and ICHAM Desks in Italy.

At the event, the member companies in turns shared their business situation and the challenges they were facing. In addition, issues related to vaccines against Covid-19, entry into Vietnam and post-entry isolation were also issues that member companies are particularly concerned about during this time.

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WEBINAR “VIETNAM AS A STRATEGIC MARKET FOR ITALIAN COMPANIES”

n June 14th took place the webinar “Vietnam as a Strategic Market for Italian Companies” - a country presentation organized by ICHAM Vietnam, Eastern Italian Chamber of Commerce, Liquid Consulting and sponsored by the Puglia Region and the Embassy of Italy in Hanoi.

The webinar is the second event in a three-webinar series dedicated to Southeast Asia. Within this second webinar, ICHAM was able to deliver to our audience the characteristics of Vietnam’s economy and market, its opportunities for Italian companies and products and the new free trade agreements, in particular EVFTA and RCEP, and their positive impact on economic relations between Italy and Vietnam. The event was an opportunity for the Puglia Region, the companies of its territory and ICHAM to meet and exchange market insights and practical outlooks. Vietnam is the 15th trading partner of the EU and the first among the ASEAN countries. With an average annual GDP projected to increase by 5.1%, with a young and growing workforce (Population under 35: 60%), a competitive economy and stable government aimed at growth, Vietnam will be one of the fastest growing economies in the world for the next 35 years

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The main products that Vietnam exports to Italy are computers and electronics products, leather goods, agricultural, livestock and fish products. While the products that Italy exports to Vietnam are machinery, materials and leather products, chemicals. The Pugliese products that are exported to Vietnam are similar to those of the National, in particular many food and drink products from Puglia are exported to Vietnam. With the free trade agreement between the European Union and Vietnam it entered into force on 1 August 2020. • Upon entry into force: 100% fabrics, 70% chemicals, 50% pharmaceuticals. • After 5 years: 100% dairy products. • After 7 years: 100% mechanical components, 100% alcohol, 50% pharmaceuticals, 30% chemicals. Agricultural products will not be fully liberalized in order to safeguard the 169 European products of protected origin. Vietnam also undertakes to gradually comply with European quality and manufacturing standards, as well as with intellectual property regulations. Our sincere thanks to all participants, in particular to Mr. Antonio Barile - President of the Eastern Italian Chamber of Commerce, to Francesco Paolicelli - President of the Economic Development Commission of the Puglia Region, to Mr. Marco Piscitelli - ICHAM Trade Analyst and to Sir Pham Hoang Hai - ICHAM Executive Director.

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WEBINAR “FOREIGN-INVESTED COMPANY INCORPORATION IN VIETNAM UNDER THE NEW REGULATION AND EVFTA” On June 23rd, 2021, ICHAM and Fidinam Vietnam successfully organized the webinar “Foreigninvested company incorporation in Vietnam under the new regulation and EVFTA” in order to provides businesses with helpful information on how to set up business in Vietnam. The webinar was moderated by Sir Pham Hoang Hai – Executive Director of ICHAM with two speakers from Fidinam: Mr. Alessandro Pedrinoni Asia Pacific CEO & General Director VN of Fidinam Hong Kong Ltd.; and Ms. Phuong Thao - Relationship Manager & Head of Corporate Advisory of Fidinam Vietnam Ltd. To begin the webinar, Mr. Alessandro gave the audience a brief introduction of Fidinam, its history and the services they provide. Fidinam Group was founded in 1960 in Switzerland with 60 years of experience in the field of professional consulting for companies, individuals and investors. The main areas of professional activity are Tax advisory, corporate services, business consultancy and real estate consultancy. With more than 250 professionals, Fidinam is present in 12 jurisdictions and relies on a wide network of correspondents and strategic alliances. Fidinam Vietnam Ltd., is a fullyfletched Fidinam entity, providing assistances to investors to set up their presence in Vietnam and also Vietnamese to invest oversea. Based in HCMC, Fidinam Vietnam offers services PAGE 18 - NEWS

including incorporation of Vietnam entities, international tax advisory, digital consulting, accounting and tax services, HR & employment services and wealth planning. After Alessandro’s speech, Thao continued the topic by sharing about the main issue of the webinar: how to set up a Foreign-Invested Company (FIC) under the new regulation and updates of the EVFTA. Regarding FIC incorporation procedure, Thao briefly mentioned the two types of FIC (100% foreign-owned company and joint-venture company) and company types in Vietnam: private enterprises, partnerships, limited liability companies, and joint stock companies with the two latter types being the most common types in Vietnam. Consisting of

two steps: applying for Investment Registration Certificate (IRC) and applying for Enterprise Registration Certificate (“ERC”), the overall timeline for the incorporation will be around three months, including the preparations of documents and information by the client. The Vietnamese subsidiary company will be legally formed from the issue date of the ERC. Different procedure is required for the following special cases: • Investment projects subject to investment policy approval: If the foreign investment project involves in business having conditions or investing gigantic capital, the investors are required to carry out the procedure to apply for an Investment Policy Decision which is issued either by the National Assembly, the Prime Minister or the Provincial People Committee before being granted with the IRC and ERC. • Investment projects for innovative Startups: Foreign investors who set up mediumand small-sized innovative start-ups are not required to obtain an IRC.

was officially announced in the Decree 31/2021/ ND-CP. In which: • Foreign investors are not allowed to invest in 25 business lines as prescribed in Section A, Appendix 1 of this Decree, such as press activities and gathering in any form, Temporary import for re-export of goods, Public postal services, public survey services, etc. • The list of business lines with conditional market access includes 59 sectors. Investment conditions might include foreign ownership limitations, investment form, investor capacity, scope of investment implementation to be checked in the local regulations or applicable international treaties. All sectors that are not in the coverage of the two lists above are considered as liberalized by default and are open for foreign investors.

When European companies set to expand business in Vietnam, both ICHAM and Fidinam could support in the market research and find potential partners in the market. The webinar For the first time, the list of restricted sectors continued with the market entry service and list of sectors having conditional market information from ICHAM and Fidinam and access conditions applicable for the foreign followed by a Q&A section with the speakers. investors and foreign-invested companies (*) The webinar recording is available in this link.

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Webinar “Vietnam: A race, A dream, A challenge – The opportunities of the Asian country in the light of recent free trade agreements with the EU” On June 30, with the collaboration from the Vietnamese Embassy in Italy, the People’s Committee of Vinh Phuc Province and with the support of PromoFrirenze and the European support network, ICHAM organized the webinar “Vietnam: a race, a dream, a challenge – The opportunities of the Asian country in the light of recent free trade agreements with the EU” with Italian companies in Tuscany region. The webinar welcomed H.E. Nguyen Thi Bich Hue – Ambassador of Vietnam in Italy, Mr. Vo Chi Giang – Vice Chairman of Vinh Phuc Provincial People’s Committee together with the participation of representatives from ICHAM, Federalberghi Florence & Confturismo Tuscany, CIAA of Florence, Municipality of Florence, Vietnam Trade Agency in Italy. The meeting provided insights of the Vietnam economic outlook of recent years, and helped sketch up the big picture of the country’s economic trends. Among Vietnam’s Free Trade Agreements with other countries and supranational organization, the EVFTA is the most influential agreement and is expected to create great investment and cooperation opportunities between companies of Vinh Phuc province and of Italy, especially those in the Tuscany region in key industries such as Textiles, Mechanics, Agri-food production and Technology. Aside from the key industries of the Tuscany region, representatives of Vinh Phuc province and representatives of Italian businesses also expressed their interest in expanding cooperation in other fields such as Fashion, Tourism, Urban planning, and High-tech Agriculture, Beverage processing, Architecture, etc. ICHAM has cultivated a long-term cooperation relationship with Tuscany and is highlighted by the establishment of ICHAM Desk in the region. ICHAM together with the Vietnam Embassy in Italy will be the bridge to strengthen cooperation between Italian companies in Tuscany and Vietnamese companies in Vinh Phuc province. PAGE 20 - NEWS

he Women in Business Sector Committee (WIB SC) was established on April 28, 2021. The WIB SC is composed of organizations and individuals that are committed to advancing gender equality in the workplace and in business organizations. The WIB SC will also provide an influential platform for women in business to advocate for gender equality in Vietnam, which will increase the profitability of EU-invested companies in Vietnam.

To fulfill its mission taking into account the interdependence of the issues raised by its members, the WIB SC will include and not limited to: 1. Organize and promote dialogue with the Government of Vietnam, relevant authorities, or other stakeholders to discuss the needs, issues, and problems of women in the workplace in Vietnam; 2. Write positions papers and letters to the Government of Vietnam; co-author European Chamber of Commerce publications such as “EuroCham’s Whitebook” with other stakeholders to address the needs, issues, and challenges regarding achieving gender equality in the workplace, to improve the diversity and inclusion in business in Vietnam and turn, increase profits and growth; 3. Organize business luncheons, dinner or breakfast meetings with the purpose of networking and information sharing on current issues; 4. Organize seminars, workshops, conferences, and training sessions relating to gender equality issues, the promotion of women in leadership roles, and the benefits of diversity and inclusion practices to businesses; 5. Collect and disseminate information about developments, trends, best practices, and so forth (both inside and outside Vietnam) regarding gender equality in the workplace among the WIB SC-Members or their representatives; 6. Support the creation of a diverse and inclusive business environment in Vietnam by having sector committee members that represent the full spectrum of EU-linked business in Vietnam, including law firms, financiers, investors, entrepreneurs, and project owners; and Work on an action plan for mid-and long-term activities of the WIB SC (e.g. stakeholder & resource mapping, specific focus areas action plan, identify best practices within WIB SC members and focus on the dissemination of these practices, coordinate with other Chambers on gender bilingualism and gender balance projects; establish a mentorship program to enable women to reach leadership positions) members and the sector. Link to page: https://www.eurochamvn.org/node/18739 NEWS - PAGE 21

MARKET INFO

PAGE 22 - MARKET INFO

WINECELLAR.vn was founded in 2007 and is now one of the leading companies in the imported food & beverage industry in Vietnam. The company specializes in importing different kinds of wines from Italy, France, Spain, Chile, USA, Argentina, Australia, New Zealand, South Africa ..., beers from Belgium, Germany, Czech Republic, Holland; Georgian mineral water, Belgium biscuiteries, English tea, Spainish iberico ham etc. With a collection of over 1000 products, a professional consultant team and a system of 8 wine boutiques available in Ha Noi, Da Nang and Ho Chi Minh city, WINCELLAR.vn offers the best of the wine world and significant wine accessories to customers all over Vietnam. The company continuously expands the cooperation with leading brands and manufacturers in order to select products with the highest quality, various price ranges to meet all customers’ demands. WINCELLAR.vn also uses wine knowledge and experience to educate, train and entertain wine lovers and clients by organizing events as well as masterclasses in Vietnam. WINCELLAR.vn also brings reputable critics and producers to the table to meet clients, talk about wine and answer questions during interactive wine tastings. Exploring the finest of culinary is a complex topic and by no means an ordinary product; every detail counts. Therefore, WINCELLAR.vn commits to assist and offer special guidance for clients to make the right decision; whether in purchasing advice or practical information on storage, serving temperature, proper glassware use, decanting, opening time, or even food pairing. Every single product from WINCELLAR.vn is stored in the best condition and delivered with extreme care from the manufacturer to consumer for the purest taste. Not only a place for selling fine food & beverage products, all WINCELLAR.vn’s wine boutiques are well-equipped with comfortable tasting rooms and premium foods (such as Spanish Iberico hams, cheese, salami, etc) to offer guests the chance to organise professional wine tasting events. WINCELLAR.vn’s reputation is built on the quality of the products and services, an ongoing commitment to clients. To achieve this, WINCELLAR.vn constantly provides training courses for the consultant team with talented sommeliers, visit wineries and manufacturers throughout the year to acquire a deep understanding of wines, terroirs, vineyards and therefore provide the best service possible to clients - as the statement “We are masters of wine”.

MARKET INFO - PAGE 23

INTRODUCTION OF VTD SMARTHOME Smarthome has become an integral part of many modern families worldwide, improving quality of life with cutting edge technology. There is a popular global smarthome brand originated from Italy: Vimar, Italy’s No. 1 smart switch, socket and electric company with a history of 75 years Vimar products are designed, developed, tested and manufactured in Marostica, Northern Italy. Vietnam Technique Development Co Ltd., the official distributor of world leading electrical VTD Smarthome Showroom displays live VIMAR products companies in Vietnam for 18 years, has chosen Vimar - Italy’s No. 1 smart switch, socket and electric company with a history of 75 years - as a strategic partner. Highlights of VIMAR are 3M: Made in Italy (Made in Italy), Marine (Standard for Ships, Yatch), Modularity (Flexible modularity). With hundreds of models of flexible socket switches, VIMAR has won many prestigious international awards such as ICONIC Award, Red Dot Award, Archiproducts Design Award, DAME Design Award, ADI Design Index, A’Design Award, technical certificates according to UNI EN ISO 9001:2015, UNI EN ISO 14000:2015 and ISO 45001:2018 standards and maximum environmental protection. VIMAR By Me Plus and By Me Marine automatic control systems help control the functions of any house, building, yacht with just one touch. VTD Smarthome has successfully consulted and helped install VIMAR products in private homes in Vinhomes, Sungrand City, Khai Son Villas, as well as hotels such as JW Marriott Cam Ranh Bay Resort & Spa and Golden Lake Hanoi – Dolce by Wyndham… Come visit the trendy showroom of VTD Smarthome at 61 Mac Thai To, SH09, Nam Tu Liem, Cau Giay, Hanoi and receive free consultant for your building today. Visit VTDSmarthome.com.vn and call 19000299-905 for more information.

VTD Smarthome showroom has live display and room demo of VIMAR products PAGE 24 - MARKET INFO

UPCOMING EVENTS

[Co-host] Webinar “Vietnamese E-Commerce Taxation” July 22nd, 2021

[Co-host] Webinar “Current Challenges in HR – Covid and more…” July 29th, 2021

[Co-host] Webinar “Mid Year Business Environment Review” July 29th, 2021

[Co-host] Webinar “Vietnam Real Estate Symposium 2021 – What’s Next” September 16th, 2021

UP COMING EVENTS - PAGE 25

DISCOUNT PARTNER Let’s POKE – Healthy Hawaiian Sashimi & Salads - Discount 10% on bill for ICHAM members - Application conditions: Valid till 31st December 2021 Contact: Let’s POKE Branch 1: No. 19, 49B Street, Thao Dien Ward District 2 – HCMC Branch 2: No. 28, 2fl, 26 Ly Tu Trong Street, Ben Nhe Ward, District 1 HCMC Website: http://www.letspoke.vn Tel: 028 36369499 PARKROYAL SAIGON - 10% on food & Beverage at Garden Brasserie, Lobby Lounge & Lotus Bar - 10% on best available rate (not applicable to other promotions and packages) Application conditions: - Discount is valid until 31st December 2021. - To get the discount please provide your ICHAM membership number to us upon reservation and show your card to our staff on the day of using our services. - Discount is non valid during Festive Season and Special Promotions. Contact: Parkroyal Saigon Address: 309B-311 Nguyen Van Troi Street, Tan Binh District, Ho Chi Minh City, Vietnam Telephone+84 28 3842 1111 Fax+84 28 3842 4365 Website: https://www.panpacific.com/en/hotels-and-resorts/ pr-saigon.html BHAYA CRUISES - Discount 20% off public flexible rate for all available cruise departures (1 night or 2 night cruise). - Applicable on cabin’s rate of cruise-only packages for Bhaya Classic, Bhaya Premium and The Au Co Luxury Cruise. - Non-applicable for packages with combined services (hotel, seaplane,…) and cannot be used in conjunction with any other promotion. - Note your membership code when sending cruise reservation request to receive discount. - Discount is applicable for published rate on English version of website only: bhayacruises.com and aucocruises.com - Discount Validity: Until December 31st, 2021 PAGE 26 - DISCOUNT PARTNER

D’AQUA HOTEL NHA TRANG - Discount 55% on pubblic accomodation rate - Discount 10% on F&B service Discount validity: 31/12/2021 Contact: D’Qua Hotel Nha Trang Address: 29 phan Chu Trinh street, Van Thanh Ward, Nha Trang City, Khanh Hoa Province Tel: +84 258 383 7777 SIR TAILOR - Free 1 bespoke shirt for every suit made

DAHI HANDI INDIAN RESTAURANT - 20% discount on F&B in Lunch & Dinner for all ICHAM members while dining in the restaurant (membership card to be shown) - This offer is not combinable with other offers the restaurant is running - This discount is not valid on food delivery orders Discount Validity: From 16/06/2020 to 16/07/2021 Contact: Dahi Handi Indian Restaurant Address: 48 Hưng Gia 2 Phú Mỹ Hưng, Tân Phong, Quận 7, Thành phố Hồ Chí Minh Tel: +84 28 5410 7955 Web: www.dahihandi.com.vn HERA JEWELRY & DIAMONDS - 10% on all jewelry, except loose certified diamonds - 15-30% on selected diamond and gemstone jewelry - 50% repair services - Complimentary jewelry cleaning - Free Birthday Gift with purchase Conditions: - Please kindly book for appointment via Website and mention ICHAM - Not combines with other promotions Contact: Hera Jewelry & Diamonds Address: 21 Thu Khoa Huan St., Dist 1, HCMC Telephone: 028 3824 8398 Website: herajewelry.com.vn DISCOUNT PARTNER - PAGE 27

VIETNAM STAY - Discount 10% for ICHAM staff and members when booking package tours, private tours, join tours Terms & Conditions: Validity from now to 31/12/2021 - Minimum 4 guests per confirmed tour (applied to join tour and package tour) - The Price is calculated according to Vietnamese speaking guide. Additional surcharges apply to foreign language guides (English, French, Italian, Spanish, and Portuguese …) - Not applicable in conjunction with other promotions - Not applicable for peak seasons, festivals (February 10th – February 16th; April 30th – May 2nd; September 1st – September 3rd, December 24th – December 31st, 2021) Contact: Vietnam Stay Address: 4th Floor, 141 Le Duan Street, Hoan Kien District, Hanoi Tel: +84 437472597 Fax: +84 2437473482 Mobile: +84 835522595 Website: www.vietnamstay.vn Email: booking@vietnamstay.vn / yen@auroratravel.asia

NAM NGHI CORAL PENINSULA PHU QUOC - Discount 15% on Best Available Rate for accommodation. - Discount 30% on The Anmai Spa services menu. - Discount 15% on Food and Beverage at Ocean Reflection Restaurant, Tree House Restaurant, Pool Bar, Rock Island Club. Terms & Conditions: Valid until December 31st, 2021 - Applied for all days - The promotion will not be combined with other promotions. - Applied for holidays, Tet - Show member card/app at counter upon arrival. Contact: Nam Nghi Peninsula Phu Quoc Address: Hamlet 4, Cua Can Commune, Phu Quoc, Kien Giang, Vietnam Tel: +84 297 389 1234 Fax: +84 297 389 1235 Facebook: https://www.facebook.com/namnghiresort Twitter: https://twitter.com/namnghiresort Linkedin: https://www.linkedin.com/company/namnghiresort/ mycompany/

PAGE 28 - DISCOUNT PARTNER

GREEN BEACH HOTEL - 30% Discount on published rate (applicable for all room types) - Free airport pick up/drop off (01 way). Applicable for booking from 5 rooms or more. - Free upgrade to next room type. - Free Early check in after 8:00 - Free Late Checkout until 14:00 Discount Validity: From 1/4/2021 – 31/12/2021 Surcharge for peak season: See ICHAM “Discount Partner” for more details Contact: Green Beach Hotel Address: 1/32 Tran Quang Khai street , Loc Tho Ward , Nha Trang City , Khanh Hoa Province , Viet Nam Tel: 0258.223.6666 Email: dosm@greenbeachhotel.com Website: www.greenbeachhotel.com Sales Office Tel: +84 258.223.6666 H.P: +84 983.870.899 VIETNAM LANGUAGE GARDEN Discount 10% applied for the following packages: - 20 Hours Package, 6,600,000 VND => 5,940,000 VND - 40 Hours Package,12,000,000 VND => 10,800,000 VND - 80 Hours Package, 21,600,000 VND => 19,440,000 VND - 160 Hours Package, 40,000,000 VND => 36,000,000 VND Contact Person: Ms. Thao Nguyen Address: 220/15 Phan Van Han St., Ward 17, Binh Thanh Dist, HCMC, Vietnam Email: contactus@vietnameselanguagegarden.vn Tel: +84 916 670 771 Website: https://vietnameselanguagegarden.vn/ SUNSET BEACH RESORT & SPA - Discount 10% on current promotions. Promotions will be updated when have change. - Discount 20% on Sunset Beach’s website and/or fanpage price when there is no other promotion program(s) applied at the time of booking. Kindly access ICHAM website to find more details. Discount Validity: From April 1st, 2021 to April 1st, 2022 Contact: Sunset Beach Resort & Spa Address: 100C/2 Tran Hung Dao Str, Duong Dong, Phu Quoc, Kien Giang. Email: mkt1@sunset.vn Tel: +84 2973 567 888 Website: http://sunsetbeach.vn DISCOUNT PARTNER - PAGE 29

PIZZA LOGIC RESTAURNT - 10% Discount on total bill when dining at Pizza Logic Restaurant Discount Validity: 05/20/2021-05/19/2022 Contact: Oizumi Food Vietnam Co., Ltd (Pizza Logic Restaurant) Address: 44 Le Loi street, District 1, HCMC Cel: 0902880822 Website: www.pizzalogic-hcm.com

BENARAS CLUB - 10% discounts on total bill for Members and Staff of ICHAM - 15% beverage + alcohol discount on tables over 20 pax for over 20 people - 15% discount on 5th visit - 25% voucher monthly selected by lucky draw for any business card dropped in fish bowl Discount Validity: Till 31/12/2024 Contact Info: Benaras Club Address: Benaras in District 1: 5A Nguyen Sieu, Ben Nghe, District 1, HCMC Benaras Gardenia: 28 Tran Ngoc Dien, Thao Dien, District 2, HCMC Benaras in Vung Tau: 15 Thi Sach, Thang Tam Ward, Vung Tau Tel: +84 983433340 Website: http://benaras.club

PAGE 30 - DISCOUNT PARTNER

The Italian Chamber of Commerce in Vietnam Hanoi: Casa Italia, 18 Le Phung Hieu, Hoan Kiem HCM: 5th Floor, the Deutsches Haus, 33 Le Duan Blvd, District 1, Ho Chi Minh-City Vietnam Tel: +84 24 3824 5997 +84 28 3822 4059 Email: info@icham.org Web: www.icham.org Facebook: www.facebook.com/ichamvn Instagram: www.instagram.com/icham_vietnam Linkedln: vn.linkedin.com/in/ichamvietnam Youtube: ICHAM Conneted

DISCOUNT PARTNER - PAGE 31

ICHAM’S MEMBERS