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Development of Vietnam Business Integrity Network

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.

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