Hanoi, Vietnam, March 29, 2019 — this is the first GAP event organized by the Vietnam Institute of Directors (VIOD), with support from Hanoi Stock Exchange (HNX) and Ho Chi Minh Stock Exchange (HOSE) and International Finance Corporation (IFC) to better understand the Corporate Secretary’s Roles in the context of global integration, shaping the future’s success for Vietnamese companies.
According to international trends, the Corporate Secretary plays an essential role in corporate governance and administrative management of the company. In Vietnam, the concept of Corporate Secretary is known from the guidelines and regulations on corporate governance for publicly listed companies and from a clause of the amended Law of Enterprise in 2014. In the market, there are quite a number of companies holding the position of Secretary of the Board or Chief of the Board Office, but most of these titles have not met the requirements of international standards and practices as well as those in ASEAN.
“It is generally agreed the world over that companies, whether public listed or private, should appoint corporate secretaries. They play an important role in companies congratulating to effective corporate governance. From the earliest days in the development of companies, one can find the company secretary listed in Fitzpatrick’s 1902 manual as one of the principal officers of the company next to the director.” shared Dr. Tan Wee Liang, Chairman of ASEAN Corporate Secretaries Network (ACSN). “In Singapore, the Companies Act stipulates that every company must appoint a company secretary within six months of its incorporation. The company secretary will be the primary officer in charge of numerous administrative and reporting responsibilities a company is required to adhere to by law. In addition, Company secretary must ensure a high degree of professional competences, poses a lot of experience and be professionally qualified”
“The key of Board Effectiveness mainly go with the role and effort of the Corporate Secretary” said Mr. Nguyen Anh Phong, deputy director of Hanoi Stock Exchange. “In order to strengthen the governance quality to keep up with the practices of ASEAN countries, I believe that this position needs to be emphasized and promoted further by companies. Besides, State regulators will accompany business enterprises in training and raising awareness as well as guiding on how to employ and improve the performance of Corporate Secretary in the future.”
At the event, an IFC expert shares about: “The Corporate Secretary: The Governance Professional” – a toolkit produced by the IFC Corporate Governance Department in order to provide guidance to help companies around the world enhance awareness and practice effectively on this topic. There were more than 80 participants who are in charge of corporate governance, directors, chief of the Board office or secretary of the Board, CEOs and senior executives from listed public companies on the HNX and HOSE, VIOD network’s members, regulators and media.
View detail in Vietnamese here
MEDIA NEWS ABOUT THE EVENT
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