On the June 11th, 2019 – Ho Chi Minh City Stock Exchange (HOSE) and Hanoi Stock Exchange (HNX), in collaboration with the CPA Australia and Vietnam Institute of Directors (VIOD) jointly held “Role of Company Secretary in Modern Corporate Governance” seminar at HOSE, which attracted 300 attendees from listed companies in the southern region.
This is the second GAP event which VIOD continued to be as co-organizer following the first event: “The Corporate Secretary’s Roles in Shaping the Future’s Success” with HNX, HOSE and IFC on March 29th of this year in Hanoi. These events belong to VIOD’s Governance Awareness Programs (GAP), aim to enhance effectively awareness and 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”
At the event on 29/03/2019, 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.
“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.”
Accordingly, VIOD plans to hold the first GEP event (Governance Excellent Program) regarding Corporate Secretary’s Role in upcoming September 2019.
Please access to the Gallery Photos of these events for more information.
- Event: “The Corporate Secretary’s Roles in Shaping the Future’s Success”- 29/03/2019
View details in Vietnamese here
MEDIA NEWS ABOUT THE EVENT
View Press release in English here
View Press release in Vietnamese here
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- Event: “Role of Corporate Secretary in Modern Corporate Governance”- 11/06/2019
View details in Vietnamese here
View on HOSE website here:
Download the material of this event here (Vietnamese only):