HOSE: Improving Corporate Governance Practices in ASEAN

On 4^th September 2015, the State Securities Commission of Vietnam (SSC) in collaboration with International Finance Corporation (IFC), Hochiminh Stock Exchange (HOSE) and Hanoi Stock Exchange (HNX), held an international forum “Improving Corporate Governance Practices in ASEAN”.

The forum was attended by the leaders from the SSC, HOSE, HNX, IFC and international specialists on Corporate Governance from Thailand, Indonesia, Malaysia, Philippines and Singapore. The forum also attracted more than 200 largest capitalized listed companies on HOSE and HNX.

ASEAN Corporate Governance Scorecard (ASEAN CG Scorecard) was implemented from 2011. This is a CG initiative of ASEAN countries in order to perform the action plan of ASEAN Capital Markets Forum (ACMF) towards the development of an integrated capital market within the region, supporting others initiatives of ACMF and positioning ASEAN as a highlighted investment destination. The Scorecard aims to honor the listed companies who have the best CG within ASEAN, enhancing companies’ image, investment opportunities as well as the image of Vietnam Capital Market, heading towards ASEAN integration.

At the forum, many CG specialists from ASEAN countries shared their experiences in CG implementations along with the use of the Scorecard to measure and promote the best CG practices. Meanwhile, the year 2015 marks the 4^th year Vietnam participates in ASEAN CG Scorecard. In 2014, Vietnam had 50 listed companies which were valued according to the Scorecard Standards. Besides the important achievements, there have been many challenging difficulties towards implementing the Scorecard in Vietnam. Through what have been learnt, it is visible that the listed companies in Vietnam need to improve and strengthen CG practices. In the mean time, regulatory bodies also need to implement better structured regulations for improving CG practices in Vietnam.

Speaking at the forum, Dr. Nguyen Thanh Long, Deputy Chairman of SSC was highly appreciated the supports from the international specialists in the efforts to enhance the skills to prepare annual reports, disclosure documents towards international practices for Vietnam listed companies, contributing to transparency and attractiveness of the market to foreign investors./.

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