Improving corporate governance efficiency towards international practices

Delegates discuss at the seminar on the occasion of introducing the publication "Corporate Governance Handbook 2025" - Photo: VGP/HT

On April 2, the State Securities Commission (SSC) ( Ministry of Finance ) in collaboration with the International Finance Corporation (IFC) officially introduced the publication "Corporate Governance Handbook 2025" in Hanoi and Ho Chi Minh City.

Corporate governance : the core element of sustainable development

Speaking at the ceremony, Mr. Vu Chi Dung - Head of the Legal and External Affairs Department of the State Securities Commission (Ministry of Finance) emphasized: Awareness of the role of corporate governance is increasingly widespread in the business community. The State Securities Commission, together with IFC and the support of the Swiss State Secretariat for Economic Affairs (SECO), has updated and republished the Corporate Governance Handbook 2025 to help Vietnamese enterprises improve the quality of governance according to advanced standards.

From an international perspective, Mr. Andri Meier, Deputy Head of the Development Cooperation Department of the Swiss Embassy in Vietnam, shared that Switzerland has extensive experience in corporate governance practices, especially in compliance and transparency. Mr. Andri Meier emphasized: Good corporate governance practices help businesses respond better to crises, while increasing the confidence of international investors. This is an important factor in helping the Vietnamese economy avoid the middle-income trap and move towards sustainable growth.

Mr. Andri Meier, Deputy Head of Development Cooperation, Embassy of Switzerland in Vietnam, speaking - Photo: VGP/HT

Updated international regulations and practices

The 2025 edition not only incorporates the latest legal regulations but also updates the 2023 G20/OECD Corporate Governance Principles – an important set of standards that help businesses ensure their responsibility to shareholders and stakeholders.

According to Mr. Vu Chi Dung - Head of the Legal and External Affairs Department of the State Securities Commission (Ministry of Finance), the highlight of this version is the emphasis on sustainable development. Accordingly, businesses not only focus on profits but also have to be responsible for the environment and society.

Enterprises also need to pay attention to the obligation to fully disclose information, including financial and non-financial information. Risk management, the guidelines emphasize the role of the Board of Directors to play an active role in enterprise risk management.

From the perspective of listing management, Ms. Nguyen Nam Anh - Director of Listing Management Department, Ho Chi Minh City Stock Exchange (HOSE) assessed: The quality of corporate governance of listed enterprises has improved, but there are still points that need to be improved.

Specifically, listed companies need to increase disclosure of information on ESG (environmental, social and corporate governance) policies. Companies need to increase the number of reports in English to attract international investors, while ensuring gender balance and diversity of board members.

Emphasize the importance of corporate governance, Ms. Ha Thu Thanh - President of the Vietnam Institute of Directors (VIOD) said: "Corporate governance is not only a compliance tool but also a strategy to help businesses increase market value, attract investment capital and enhance their position in the international arena."

"The handbook's appearance at this time is extremely necessary when businesses are entering the season of General Meetings of Shareholders, requiring more transparent and complete information than ever," said Ms. Ha Thu Thanh.

Ms. Ha Thu Thanh emphasized that corporate governance must come from the internal strength of the enterprise itself. Enterprises should integrate Environmental, Social and Governance standards into their business strategies to enhance their competitiveness. Enterprises need to establish an investor relations (IR) department and publish bilingual information to support foreign shareholders; strengthen risk management through a strict internal control system.

Mr. Minh

Source: https://baochinhphu.vn/nang-cao-hieu-qua-quan-tri-cong-ty-huong-toi-thong-le-quoc-te-102250402155728932.htm