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Regularly update news & events about business integrity

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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…  

Project news

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.

Project news, Relevant news

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 deliver these trainings. 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

Project news, Relevant news

Ha Noi, 28 September 2021 – Fifteen business associations have signed the Viet Nam Business Integrity Pledge to express commitment on corporate compliance and  business integrity and transparency.   This was told at an online Business Forum in Ha Noi today by the Viet Nam Chamber of Commerce and Industry (VCCI), the UN Development Programme (UNDP), and the British Embassy in Ha Noi.   The Forum – “Culture of Business Integrity: Pathway to Sustainability and Success” – brought together nearly 130 representatives from businesses, government agencies, international organizations, experts, academia and press agencies.   Women play an increasingly important role in business, with female-owned enterprises occupying nearly 30% of the total enterprises and 32% managers of enterprises being women. The 15th member of the Business Integrity Pledge is the Viet Nam Association for Women Entrepreneurs.   “I believe an effective business environment, rooted in transparent corporate governance, is a crucial factor to foster bilateral investments and long-term trade partnership between the UK and Viet Nam. The UK sets a high value in merging the ethics and integrity principles into corporate governance since it has long been more than a matter of business’s branding. It forms a wider and more sustainable value not only in financial return but also in minimising negative impacts on the society.” Mr. Marcus Winsley, Deputy Head of Mission, British Embassy in Viet Nam said in his opening speech.   On this occasion, the Advisory Group of Viet Nam Business Integrity Network – VBIN – made it first apperance. The VBIN is the first collective action initiative led by business to promote a culture of business integrity and anti-corruption compliance. The mission of the VBIN is to mobilize collective efforts of the business community to comply with rules and regulations related to business integrity and to adopt good business integrity practices, thereby improve corporate governance, ensuring competitiveness and sustainability of Vietnamese businesses. Fifteen Government agencies and businesses, and 5 experts have joined the VBIN Advisory Group.     “Though significant improvements recorded, nearly half of businesses surveyed in the Viet Nam Provincial Competitiveness Index 2020 reported paying informal charges,” UNDP Deputy Resident Representative in Viet Nam Patrick Haverman noted. “Further progress in embedding transparency, integrity, accountability, and anti-corruption into Vietnamese companies’ operations will be critical in the socio-economic covid recovery”.   Mr. Haverman highlighted important aspects for successful economic rebound, namely Business integrity being a key enabler in doing business in Viet Nam; Companies committed to integrity, transparency, and investing in responsible and sustainable practices being more resilient to crises such as the Covid-19 pandemic and poised to long-term success; and Collective action required to help build a busines integrity culture.   The achievements and good practices shared at the Forum are the results of three years’ partnership between VCCI, UNDP and the UK Government under the  UNDP’s Regional Project “Promoting A Fair Business Environment in ASEAN” – Fair Biz – funded by the UK Government under ASEAN Economic Reform Programme. More than 800 firms and business associations have improved their knowledge and skills to apply internal control and codes of conduct in their businesses. Four companies have received in-house technical assistance for devleloping and strenthening code of conduct or internal controls.   “COVID-19 is a test for business integrity.,” Mr. Nguyen Quang Vinh, VCCI Secretary General, emphasized. “There is something companies can do to protect themselves by putting an integrity agenda at the heart of their response to the challenges. Businesses are also recommended to actively join a business led initiative like Vietnam Business Integrity Network which will allow companies to help each other and collectively work together to enhance good corporate governance towards long term sustainibility” .   The Forum is one of the key activities of the Government and Business Integrity Initiative (GBII) implemented by VCCI and UNDP in Viet Nam under Fair Biz. This project aims to support enhancing business integrity and transparency, strengthening laws and policy in anti-corruption, and effective dispute resolution mechanism in Viet Nam.    

Project news

Based on the success of the online Consultation Meeting to formulate Vietnam Business Integrity Network (VBIN), a business-led initiative supported by the UK Prosperity Fund, the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with UNDP Vietnam co-organized the first online VBIN advisory group meeting on past 10th September. This meeting aimed to introduce VBIN Advisory Group key members, gather helpful inputs for upcoming six-month work plan of VBIN and identify possibility and readiness of participation of members to VBIN establishment.    At the meeting, Mr. Phi Ngoc Tuyen, Deputy Director General of Anti-corruption Bureau made his speech and strongly supported to VBIN’s goals. He also emphasized that the VBIN network is very necessary and important for businesses during the process of integrating the global supply chain.        From the Government Inspectorate side, he expressed real commitment to fully act on consulting the state policies and laws which contribute to promote a fair business environment in Vietnam. Along with that, Mr. Thomas, Executive Director of ASEAN CSR Network highly appreciated the VBIN initiative and pointed out integrity is a core solution to help boost business resilience in times of crisis such as the Covid-19 pandemic, especially improve the ability to meet the requirements of the market towards long-term sustainability. Despite the size of company, whether ethics and integrity are incorporated into business strategy, it would help to build good reputation and attract more genuine investors.   In addition, Mr. Le Duy Binh, Director of ECONOMICA, project constultant of the VBIN concept mentioned about building up a database of Vietnamese businesses in which their integrity is rated by using well-defined criterion. The implementation should be developed step by step. At initial stage, the focus will be laid on listed companies to be then expanded to cover public joint-stock companies and SOEs. Through many international experiences in developing company rating, the Association of Chartered Certified Accountants (ACCA) showed the effective method to engage the business community in this ranking related to adopt good business practices. Therefore, the VBIN network is expected to closely connect among businesses and mobilize collective efforts of the business community to enhance business integrity and comply with regulations.   The meeting brought together nearly 30 members committed in joining the VBIN Advisory Group from SMEs, Big4 companies, law firms, state agencies, NGOs and high-qualified project experts and lecturers. On this great occasion, the VBIN Advisory Group members also shared their expectation to open new cooperation opportunities and coordinate different resources. All proposed recommendations create a foundation to design the next activities to enlarge VBIN such as training &consulting, BI index, communication and engagement; identify key products and services that VBIN can offer businesses…

Project news

On past 8th July, 2021, Vietnam Association for Women Entrepreneurs (VAWE) became the 15th member which have signed the Business Integrity Pledge and expressed strong support to the objectives of  Vietnam Business Integrity Network -VBIN. This is an initiative implemented by VCCI and a key component under the UNDP’s Regional Project “Promoting A Fair Business Environment in ASEAN”  funded by the UK Government under ASEAN Economic Reform Programme.                    Representatives of UNDP, VCCI, VAWE and spearkers were at the virtual workshop In order to make an official appearance as the 15th member of this network, VAWE coordinated with VCCI, UNDP and British Embassy to co-organize the online workshop titled “Transparent Governance- Foundation of Business Integrity” on 26th August, 2021. At the workshop, female entrepreneurs have shared the basic principles of transparent governance through corporate governance and financial management. Thereby, women entrepreneurs need to carefully consider what they are building towards good corporate governance and sustainable management system.   In addition to the participation of  the organizer board, the workshop have brought together more than 160 delegates being as VAWE Executive Committee members, women entrepreneurs, heads of management, finance and human resources departments from VAWE memberships and the 28 Provincial Women’s Business Associations. Even during the affected condition of the Covid-19 pandemic, a large number of women entrepreneurs still attended the workshop from across the country. This positive sign proved that female-owned enterprises have paid great attention to navigate their businesses in accordance to the standards of business with proactive implementation of business integrity towards long-term sustainable development in the future.

Project news

Building upon the success of several recent projects and programs in business integrity, the Vietnam Chamber of Commerce and Industry (VCCI) initiates to develop Vietnam Business Integrity Network (VBIN). This initiative aims to mobilize collective actions to foster a fair business environment and to create a better cooperation mechanisms in order to ensure business integrity as well as transparent information disclosure. On past 29th June 2021, the Vietnam Chamber of Commerce and Industry (VCCI) and the United Nations Development Program in Vietnam (UNDP) co-organized the online Consultation Meeting to help formulating Vietnam Business Integrity Network (VBIN) with generous support from the UK Prosperity Fund.   At the meeting, Mr. Stephen Taylor, Head of Political Division at the British Embassy in Hanoi – the sponsor’s representative made his speech and highly appreciated the VBIN concept. He also emphasized that businesses that put integrity and business ethics at the heart of their operations will contribute to build good reputation and attract genuine investors, buyers and customers, especially in the process of integrating the global supply chain. The meeting provided initial insights to help businesses understand the important role of VBIN, core tasks and operational principles. Thereby, many companies expressed real commitment to participate in VBIN project to share responsible business models and inspire good practices. The online poll results pointed out that more than 70% of delegates showed their strong interest and willingness in entering into key membership with this network which indicate a positive sign for business community. Also, there is an increasing need about effective corporate governance that can meet current international standards aimed at sustainable development. In addition, the exchange of experiences and advices from delegates and speakers will be the foundation for our project team to carry out next steps in implementing VBIN. Focused priorities include the engagement strategy of VBIN and its institutional design, proposed products and services, call for potential sponsorship, development of company rating based on integrity criterion… The event brought together nearly 70 representatives from SMEs, Big4 companies, law firms, state agencies, NGOs and many experts in the area of corporate governance. This activity is under the UNDP’s Regional Project “Promoting A Fair Business Environment in ASEAN” supporting business to fully comply with the law on integrity, information disclosure and social responsibility.