Vietnam News, 29 May 2015. Last Thursday, Toward Transparency hosted a seminar in HCMC titled, “Why are transparent companies more successful?” The seminar, which was cohosted by AusCham, will be repeated in Hanoi on Tuesday 2 June, 2015 (click here for details).

Vietnam News has published an article on the HCMC seminar titled, Transparency begets success: experts.

An edited extract of the original article appears below.

HCM CITY (VNS) — Transparency is an important element in improving the productivity of a business and gaining the trust and loyalty of stakeholders, a forum heard in HCM City yesterday.

Transparency referred to carrying out activities in an open manner and without secretiveness so that people could trust that they are fair and honest, said Pham Anh Duong, business integrity manager at Towards Transparency, a global civil society organisation working to stop corruption, said.

A recent study by the Government Inspectorate and the World Bank had found that transparent companies developed faster and more sustainably than non-transparent ones, he said.

“Another survey done by our organisation found that 60 per cent of people are willing to pay higher prices to buy products from transparent companies.”

With deeper international integration, besides complying with Vietnamese legal regulations, local companies must also prove that they had a strong transparent system and integrity to take part in the supply chain of multinational companies, he said…

Nguyen Quang Vinh, director general of the Viet Nam Chamber of Commerce and Industry (VCCI)’s Office for Sustainable Business Development, said the VCCI was assigned to co-ordinate with relevant agencies to carry out Project 12, an action plan for speeding up an initiative to usher in integrity in business..

Related items

  • To read the original article, click onto Transparency begets success: experts.
  • For details on Towards Transparency’s seminar in Hanoi on Tuesday 2 June 2015 (free entry), click here.
  • AusCham’s position on bribery and corruption is ‘zero tolerance. For full details, click here.

 

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