This MoU aimed at promoting promote effective corporate governance standards and practices among companies listed on the HOSE and HNX. Under the MoU, the three partners will launch the Vietnam Corporate Governance Initiative in order to assist managers in mobilizing market resources. The initiative also aimed at calling for cooperation and coordinating stakeholder efforts to improve capacity and corporate governance by applying the world’s best practices.
It is expected that under the MoU, the three sides will boost the efficiency of Vietnamese public companies, facilitate their access to capital, boost economic growth, and create more employment opportunities.
According Chairman of HOSE Tran Van Dung, the corporate governance standards and practices play an key role in managing risks and enhancing competitiveness and growth quality of the corporate sector as well as the whole economy. He also expressed that the initiative will contribute to the healthy and sustainable development of Vietnam’s capital market.
For his part, IFC Country Manager for Vietnam, Cambodia, and Laos Kyle Kelhofer underscored the recent improvement in corporate governance in Vietnamese enterprises. However, he noted that Vietnamese enterprises still behind their regional peers and more progress is needed to narrow the gap.
The initiative is the latest move of IFC to continue strengthening corporate governance practices in Vietnam. Under the initiative, Vietnamese enterprises will be equipped with necessary tools to reduce financial and operational risks and enjoy better access to capital, enhanced trust and accountability to shareholders, Mr.Kyle Kelhofer stressed.
