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…
