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Business Integrity Toolkit – for Investors and Startups
28.03.2021
36 views

One of the top criteria for investors to consider is business integrity. Only when doing business with integrity can businesses create transparency for partners, shareholders, investors and customers. That is a commitment to sustainable development, building trust with partners and investors. In Vietnam, SMEs and startups are thriving, but investors have no tools to evaluate transparency and sustainability to make investment decisions. Realizing this problem, UNDP, with the funding of the British Prosperity Fund, supported VCCI to implement the Integrity Business Toolkit for Investors. This is a part of the National Startup Program 2020 and the project “Promoting a Fair Business Environment in Viet Nam”.   The Toolkit is intended for all investors who are currently investing in Vietnam or are interested in start-ups and SMEs in Vietnam. This toolkit helps investors at early stage investment and angel investors. The toolkit provides investors with information on the business environment in Vietnam and enable them to approach businesses and projects that are still primitive but still ensure necessary information for investment decisions. Besides, as the development of startups in Vietnam is happening strongly, incubators, start-up accelerators, and training institutions who deliver training and prepare startups for fund-raising should also refer to and use this Toolkit.   The Business Integrity Toolkit is based on the four main elements: 1) The company and its shareholders; 2) Reputation with business partners; 3) Legal compliance; 4) Internal control system. Although business integrity has a much broader scope, this toolkit mainly focuses on topics commonly considered as “anti-corruption”. For startups, business integrity should be based on the three drives: 1) Personal moral compass; 2) Quality of the management system; 3) Understanding and compliance to Vietnam’s law. Those are the foundation for the project to develop this Toolkit.   (Compiled)

News

Since the beginning of 2020, the World has faced one of the biggest global crises in recent decades, which was the rapid spread of Covid-19 pandemic. Isolation measures, social distancing and different restrictions were strictly implemented setting out great challenges for businesses and showing a less prosperous picture of global economy. Businesses in the Southeast Asia have been suffering from many difficulties during over period. In fact, number of businesses could absolutely understand how Covid-19 pandemic affecting their business operations in the near future still remains a weakness.   At the virtual business integrity roundtable series – beyond the Covid 19 crisis hosted by the Organization for Economic Cooperation and Development (OECD) in collaboration with the United Nations Development Program (UNDP) on past March 31st, the event brought together representatives from many different sectors. On the Vietnamese side, Mr. Nguyen Quang Vinh, VCCI Secretary General attended the conference to share his insights into several identified risks that businesses encountered during the pandemic outbreak period.   On the business side, the pressure of ensuring business continuity, labor management as well as disrubtion to global supply chain, etc. were reasons causing significant impacts on business integrity. In order to overcome obstacles towards sustainable development in the long term, Mr Vinh highlighted that despite the size of businesses whether they were large or small, business integrity should be put at the heart of their operation because it would create a core foundation helping businesses to boost its resilience, attract loyal and new customers as well as the interest of genuine investors, recruit and retain talents in times of crisis.   Through this workshop, great efforts of promoting business integrity made by VCCI over the past 10 years were also shared, especially initiatives of Helping SMEs to resist corruption and “Government-Business Integrity Initiative-GBII. These projects were funded by the UK Prosperity Fund through UNDP regional project “Promoting a Fair Business Environment in ASEAN”.    On this occasion, OECD and UNDP would like to thank VCCI for recent goodwill cooperation, particularly the 10th Asia Pacific Anti-corruption Initiative Regional Conference’s Business Integrity Meeting as a good example and they also expressed their interest in closely working with VCCI in days coming for similar activities.  

01.04.2021
75 Views
News

One of the top criteria for investors to consider is business integrity. Only when doing business with integrity can businesses create transparency for partners, shareholders, investors and customers. That is a commitment to sustainable development, building trust with partners and investors. In Vietnam, SMEs and startups are thriving, but investors have no tools to evaluate transparency and sustainability to make investment decisions. Realizing this problem, UNDP, with the funding of the British Prosperity Fund, supported VCCI to implement the Integrity Business Toolkit for Investors. This is a part of the National Startup Program 2020 and the project “Promoting a Fair Business Environment in Viet Nam”.   The Toolkit is intended for all investors who are currently investing in Vietnam or are interested in start-ups and SMEs in Vietnam. This toolkit helps investors at early stage investment and angel investors. The toolkit provides investors with information on the business environment in Vietnam and enable them to approach businesses and projects that are still primitive but still ensure necessary information for investment decisions. Besides, as the development of startups in Vietnam is happening strongly, incubators, start-up accelerators, and training institutions who deliver training and prepare startups for fund-raising should also refer to and use this Toolkit.   The Business Integrity Toolkit is based on the four main elements: 1) The company and its shareholders; 2) Reputation with business partners; 3) Legal compliance; 4) Internal control system. Although business integrity has a much broader scope, this toolkit mainly focuses on topics commonly considered as “anti-corruption”. For startups, business integrity should be based on the three drives: 1) Personal moral compass; 2) Quality of the management system; 3) Understanding and compliance to Vietnam’s law. Those are the foundation for the project to develop this Toolkit.   (Compiled)

28.03.2021
36 Views
News

The virtual Global Anti-Corruption & Integrity Forum of the Organization for Economic Co-operation and Development (OECD) took place on 23-25 March with the main theme: Leading through the Crisis: Integrity and Anti-Corruption for a Resilient Recovery.   Around this main topic, the Forum has conducted 50 in-depth discussions on integrity and anti-corruption in specific industries, policy issues and public-private partnerships in the context of the Covid-19 crisis.   The Forum was attended by government representatives, representatives of anti-corruption and law enforcement agencies, academics, representatives of the business sector and social organizations of many countries and experts from international organizations.   The Vietnamese high-ranking delegation led by Mr. Le Minh Khai, Secretary of the Party Central Committee and Inspector General of the Government Inspectorate has attended the Forum. The delegates participated in the following sessions: Integrity in practice: Launch of the OECD Public Integrity Toolkit; Integrity and corruption risks during and beyond COVID-19: Challenges, perspectives and experiences from the ground; OECD Business Integrity Roundtable (Part One): Business integrity trends and standards; The OECD Public Integrity Indicators – new measurements for policy makers and actionable change; OECD Business Integrity Roundtable (Part Two): Catalyzing Compliance in the post COVID-19 world; The relevance of statistical information for anti-corruption policies; Collective actions through fast-tracking the UNCAC.   The Global Anti-Corruption & Integrity Forum of the Organization for Economic Co-operation and Development (OECD) started in 2013 as part of Integrity Week, an annual event held at OECD headquarters to support governments and organizations to strengthen integrity, build trust, and fight corruption. Source: thanhtra.gov.vn

26.03.2021
37 Views
News

During the first two weeks of March, the campaign engaging business women in Thai Nguyen city in a free online training programme attracted 101 visits, of which 95% of visitors completed the program and got certification. Two businesses that achieved highest number of certified participants were Thai Hung Trading Joint Stock Company and Dung Tan Company Limited. Overall results of businesses participating in the course are found here. The training program aims to provide support to businesses for proactively improving their capacity and efficiency in term of corporate governance, risk management and internal control, especially helping companies to comply with legal regulations such as Decree 05 on internal audit, Decree 71 on corporate governance, the Law on anti-corruption (2018),…Ms. Dinh Thi Bich Xuan, Deputy Director General of the Office for Business Sustainable Development, VCCI said. Therefore, two companies that met the set criteria of the programme are selected to receive a package of technical assistance from the “Government–Business Integrity Initiative–GBII” implemented by VCCI  and funded by the UK Prosperity Fund as part of the regional project “Promoting a Fair Business Environment in ASEAN”  under the United Nations Development Programme (UNDP). In days coming, VCCI will send an official letter to these eligible businesses to notify and ask for due diligence before officially signing MOU. At the same time, it’s really helpful to seek for specific understanding of business expectation, however, that demand requires to harmonize with scale of project which can support. Technical support is going to be provided starting March 2021.

17.03.2021
20 Views
News

On 19th November 2020, SDforB under VCCI in cooperation with Thai Nguyen Women Business Association hold a training course “Guiding application of internal control and code of conduct in business”. The course was organized successfully with participation of 60 local businesses. Among those about 95% participants evaluated the training substance practical, meeting the current interests of businesses and expressed the need to learn more deeply. For further training courses in-depth, VCCI collaborates with  Thai Nguyen Women Business Association and promotes a campaign that engages business women in Thai Nguyen in a free online training programme at: https://kdlc.vn . This is one of the activities under the “Government –Business Integrity Initiative” – GBII funded by UK Property Fund via the regional project “Promoting fair trade in ASEAN” implemented by UNDP. The invitation is found here Time: from 1st to 15th of March 2021 The objectives: Provide in-depth knowledge in application of internal control mechanisms and codes of conduct for businesses towards international standards, comply the law. What is followed up to support businesses from VCCI? Provide 02 packages of technical assistance equivalent to 50,000,000VND/package for 02 companies with the highest numbers of certified participants (no less than 10 certificates/company applied to 1 or both thematic courses). In case there are more than 02 companies expected to meet the set criteria, the lucky draw program will be considered and announced later.  Technical assistance: the selected company can choose a package of TA that support to develop/implement/evaluate/improve one of the below processes: Internal control inspection and evaluation process Sales control process Process on inventory control Salary and salary deductions control process Note: the TA package is flexible to be adjusted in compliance with the business status. How business can participate in the online training programme? Required equipment & devices: internet connected computer, smartphone Access in online training programme: Access “Online Training” to learn the Topic 1: “Internal Control Guide”; the Topic 2: “Code of Conduct Guide in business” 4 steps should be carried out as follows: Step 1: overview on the training programme Step 2: Go through all modules provided in the video clips and documents Step 3: Complete 10 questions to evaluate knowledge. Press the button “Confirm answers” to complete the learning. Step 4: Register e-certificate (you are required to provide with full and accurate information online). Who will consult directly to business? High qualified experts are invited from the Academy of Finance who are well experienced in business consultancy and stricly selected to provide the training.   For further information please kindly contact: Mrs. Dinh Thi Bich Xuan, Vice Director, SDforB under VCCI, Mobile:  0988176878, email: xuandtb@vcci.com.vn

25.02.2021
21 Views
News

The “Governance – Business Initiative – GBII” is supported by the UK Prosperity Fund, ASEAN Economic Reform Program, within the framework of the Regional Project on “Promoting a Fair Business Environment in ASEAN” implemented by the United Nations Development Program (UNDP), and aims to improve corporate governance and sustainable development in Vietnam. We are looking a national consultant team and/or a national consulting company who have appropriate qualification and experience to conduct 2 assignments below (see TOR): Type of bidding package: service provider Main content of the bidding package: Research/Survey included 2 assignments as below: Assignment 1: Review and document good practices and measure impacts imposted by the training course on the businesses participated (the courses and the workshops) conducted by SDforB – VCCI from the end of 2018 to 2020. Time for implementation: 1st quarter 2021 (no later than 31 March 2021) Fee: 53 working days, the rate in complience with EU Cost Norm 2017 Objectives: To collect and review good practices on application of IC and CoC and/or business integrity conduct in business and to measure impacts/behaviour changes of benefited participants (business only) who attended training courses/workshops; Identify good practices, lessons and document those experience in appropriate form to disseminate and multiply the effectiveness in further. Assignment 2: Conduct a research on needs and feasibility to develop Vietnam Business Integrity (VBIN); provide and network relevant services aimed to promote business integrity. Time for implementation: 1st Quarter 2021 (preparation and implementation), April 2021 (finalizing the report) Fee: 62 working days, rate in complience with EU Cost Norm 2017 Objectives: Conduct a survey on business’s need/expectation of medium and big companies in Vietnam (both domestic and FDI; however, it is possible to consider the priority order and base the project budget for this activity and decide after the discussion; research consulting services, and affordability for those services in promoting business integrity; Research and evaluate the willingness of legal firms, consulting companies to participate in VBIN as technical experts; Research and evaluate possibility that donors and businesses including MNCs and Groups to make financial and non-financial contribution to VBIN. Research and evaluate possiblity of government agencies, international organizations and experts for participation in VBIN.   Method of bidder selection: Shorten national shopping Deadline for submission of technical and financial proposal: before 30/1/2021 Submission form: send email to xuandtb@vcci.com.vn or mail to SDforB, No. 9 Dao Duy Anh Str., Dong Da District, Hanoi Contact person: Ms Xuân, Tel: 024 35743492

20.01.2021
20 Views