Internal control in business help prevent and minimize risks in relating corruption, thus to protect rights of enterprises, build the foundation for sustainable development, promote business integrity.
Today, July 3rd in Ho Chi Minh City, The Food and Foodstuff Association of Ho Chi Minh City (FFA) coordinated with VCCI, UNDP Vietnam and Bristish Embassy in Hanoi to organize the workshop “Enhancing internal control for businesses in food and foodstuff industry”. The workshop aimed to support the businesses in enhancing the efficiency in corporate governance through development, application and improvement of internal control which helps prevent and minimize business risks in relating corruption, ensure the company’s interest, build the foundation for sustainable development and promote business integrity.
The speakers are experts from Deloitte Vietnam, the Academy of Finance and representatives from two big enterprises as Acecook Vietnam and Vinamilk who have deep knowledge and solid experience in internal control mechanism. The representatives of FFA, UNDP, VCCI and FFA’s members also attended the workshop.
Through presentations of the speakers and the vigorous debates on the real-world cases, the participants have better understood the importance of risk management and internal control mechanism in the business development, better aware the approach and experience in building this mechanism. As a result, enterprises are able to identify the common risks in business operations, components of Internal Control and have an idea and plan to choose an appropriate internal control framework for the business in food industry.
The workshop “Enhancing internal control for businesses in food and foodstuff industry” is an activity of “Government – Business Integrity Initiative – GBII” carried out by VCCI within the regional project “Promoting a Fair Business Environment in ASEAN” implemented by UNDP and and UK Prosperity Fund to facilitate transparent mechanism in both public and private sector, enhance the rule law and fight against corruption, build up typical examples of responsible business. This is the first project supported by UK Prosperity Fund to ASEAN under the Economic Reform Programme. The project is implemented by UNDP in cooperation with UK Government from 2018-2021.
In 2019, UNDP closely collaborated with VCCI to develop “Business integrity pledge”. This pledge aims to uphold the core values of integrity, ethical behavior, and accountability, call for collective actions in promoting business integrity in Vietnam. 14 business associations have signed the pledge. Ho Chi Minh City Food and Foodstuff Associations (FFA) is one of those first movers has signed the pledge. The project for building capacity and raising awareness on business integrity was proposed by this association and has been approved by UNDP, VCCI and UK Embassy. The workshop “Enhancing internal control for businesses in food and foodstuff industry” is made in great effort of FFA and highly appreciated by UNDP, VCCI and Bristish Embassy in Hanoi.
Mrs. Do Thuy Van, UNDP program officer emphasized in her speech: “UNDP, VCCI and the British Embassy in Hanoi are willing to support businesses / business associations in Vietnam to build a culture of business integrity for sustainable development and global inclusion” and “To bring the fight against corruption to a new higher level, we need more efforts from the Government and business community”.
