Businesses advised to increase transparency to prevent corruption
Compliance with international standards, including those on transparency, has become more urgent for Vietnamese enterprises when they are expanding operation at the global scale, according to Executive Director of Towards Transparency (TI) Nguyen Thi Kieu Vien.
Hanoi (VNA) – Compliance withinternational standards, including those on transparency, has become moreurgent for Vietnamese enterprises when they are expanding operation at theglobal scale, according to Executive Director of Towards Transparency (TI)Nguyen Thi Kieu Vien.
Speaking at a ceremony in Hanoi on April 26 toannounce the report Transparency in Corporate Reporting: Assessing the 30 largestcompanies in Vietnam (TRAC Vietnam 2017), she said when companies are committedto transparency, their accountability will improved, thus creating positiveimpacts on their staff.
The internal anti-corruption programme is one ofthe best protection measures for businesses when facing corruptive and legalrisks, she said.
According to the TI report, only seven out ofthe 30 companies make public commitments to abiding by legal regulations,including the Law on Corruption Prevention and Combat.
Just four among the 30 businesses announcedtheir leaders’ commitments to support anti-corruption efforts.
Vietnam was ranked 113th out of the 176countries in the TI Corruption Perceptions Index (CPI) in 2016.
At the same time, the TI said a number ofVietnamese businesses gained good points in the transparency of businessstructure and ownership ratio, with two getting the maximum scores.
This shows Vietnamese businesses are capable ofmeeting international standards on transparency, Vien said.-VNA
Domestic and foreign investors are still keen on the Vietnamese market and have positive outlook about the country’s economy, according to a survey conducted by Grant Thornton Vietnam.
The draft Resolution of the Government on tasks and measures to implement socio-economic development plan in 2017 will focus on stronger economic restructuring and sustainable growth, said Deputy Prime Minister Vuong Dinh Hue.
Permanent members of the Central Steering Committee for Anti-Corruption convened a meeting in Hanoi on April 17 under the chair of Party General Secretary Nguyen Phu Trong, who is also head of the committee.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
At the workshop (Photo:VNA)
