Business Integrity – A Licence for international economic integration

– Dr. Vu Tien Loc – Former VCCI Chairman –

Business Integrity Toolkit for Young Entrepreneurs

In recent years, the issue of business integrity has come to the forefront of public and private agendas. With government and corporate scandals all around, it is not surprising the public is pushing back. Corruption and fraud misdirect public funds away from the people they are supposed to support. The reality is that the Sustainable Development Goals, which are a broadly recognized series of targets for governments and society to achieve by 2030, are unlikely to be attained without also achieving SDG Target 16.5 – to “substantially reduce corruption and bribery in all their forms”. Another important priority of the SDGs is youth employment, and in particular, decent jobs for youth, whereby young women and men have access to decent, productive work, everyone benefits, and our future is more prosperous. To achieve this, it is critical for young entrepreneurs, setting up their businesses for the first time, to get started on the right foot. This Business Integrity Toolkit is very much a joint effort. Conceived as part of a training programme organized by UNDP for the Youth Co:Lab, our community of social entrepreneurs in ASEAN countries, it is an example of “collective action” – a concept in the fight against corruption which you can read more about in the Toolkit. See detail here.

Strengthen implementation of ethical practices and business integrity

In recent years, a number of free trade agreements (FTAs) have been negotiated and signed, facilitate business to deepen international integration, creating many new cooperation opportunities. Therefore, this requires businesses to ensure transparency and adopt ethical business practices. In fact, businesses  with proactive implementation of business integrity are highly appreciated by potential investors, customers and business partners… especially this is an important advantage to join global supply chains. On past November 26th, the Vietnam Chamber of Commerce and Industry (VCCI), UNDP Vietnam coordinated with the Vietnam Textile and Apparel Association (VITAS) to organize an online training workshop titled“Guidelines for ethical business practices and professional conduct”. According to Mrs. Dinh Thi Bich Xuan, Deputy Director General of Office for Business Sustainable Dvelopment,VCCI, the training is a key activity aimed to build the capacity of businesses in promoting business integrity and helping to minimize fraud and business risks towards good corporate governance. At the program, Mr. Truong Van Cam, Vice President of VITAS, the co-organizer of the workshop highlighted the importance of an appropriate code of conduct and professional conducts contributing to form a fair and transparent business environment. Through presentations of speakers and vigourous discusiion, businesses have better understood about the essential role of risk management and ethics regarding to business development in the garment industry. As a result, businesses are able to effectively apply step by step the code of conduct to resolve ethical dilemmas in business operations. The training course was provided by experienced experts from PWC Vietnam. The representatives from British Embassy in Hanoi, UNDP, VCCI  attended with 70 participants from businesses in the garment industry, middle level managers, human resources, legal officers, internal audit, account-finance officers…  

Enhance application of environmental, social and governance criteria in business

Currently, Environmental, Social and Governance (ESG) criteria have become the deciding factor for the  world’s top investors. Therefore, business investment decisions are highly dependent on the outcome of assessing how businesses address issues related to ESG. This criteria requires investors and invested companies to redefine risks in terms of traditional business models as well as opportunities to create sustainable added value in the future. Through the gereous support of the UK Prosperity Fund to ASEAN under the Economic Reform Programme within the UNDP Regional Project “Promoting a Fair Business Environment in ASEAN”, the Vietnam Chamber of Commerce and Industry (VCCI), UNDP Vietnam in collaboration with Vietnam Association of Consumer Goods Development (VACOD) co-organized an online training workshop titled “Incorporation of Environmental, Social and Governance criteria in business” on November 24th in Hanoi. At the program, Mrs. Diana Torres, Assistant Resident Representative of UNDP Vietnam emphasized in the opening speech that ethical business practices and responsibility to the community, environment, society are increasingly important to improve transparent corporate governance and legal compliance. Following this, Mrs. Dinh Thi Bich Xuan, Deputy Director General of Office for Business Sustainable Development, VCCI also highlighted that the training course aimed to support businesses to promote business integrity in general and futhermore raise better awareness of appropriate approach to ESG advanced practices. The training course was delivered by experienced experts from PwC Vietnam who have deep knowledge in risk management, internal control and international finance. The course was successfully organized with active participation of 200 delegates including representatives from British Embassy in Hanoi, UNDP Vietnam, VCCI and participants from businesses, middle  level managers, legal officers, human resources, internal audit, account-finance officers…The majority of businesses evaluated that the training content is practical, provided fundamental knowledge on methods of assessing business situations in relation to sustainable development and guided businesses to meet ESG reporting requirements and information disclosure.

Bidding invitation for delivering consulting service

The “Governance – Business Initiative – GBII” implemented by the Office for Business Sustainable Development (SDforB) of VCCI funded by the UK Government, ASEAN Economic Reform Program through UNDP’s Regional Project on “Promoting a Fair Business Environment in ASEAN”. We are looking for a local consulting company and/or a national consultant team who have appropriate qualification and experience to develop the Vietnam Business Integrity Index. Please view ToR here for detail.   Method of bidder selection: Shorten national shopping by a technical proposal Deadline for submission of technical: before 17 pm, 20th October 2021 Submission form: send email to Contact person: Ms Xuân, Tel: 024 35743492