From July 15 to 17, 2020, the Vietnam Institute of Directors (“VIOD”) successfully organized the 5th Director Certification Program – DCP5 in Ho Chi Minh City, with significant support by the International Finance Corporation (IFC) in collaboration with SECO and Japanese Government. This is the first training program of 2020 which resumes a series of VIOD programs to be conducted after a long period implementing social distancing rules due to the pandemic.
The DCP program is the core component of VIOD’s Governance Excellent Program (GEP), designed to serve the growing need for Board of Directors in Vietnamese companies who want to understand and apply international standards and principles of corporate governance.
DCP5 continues promoting the benefits of the DCP Program to be a gathering place for individual corporate leaders operating in Vietnam so that they can share, learn valuable knowledge and practical experience by working on case studies in corporate governance, via group discussions, role-playing and problem solving for actual cases.
The content of each module in the DCP Programs is always up to date, in line with the latest practices and trends. In Module 5 – Vietnam Legal Environment for directors, for instance, along with knowledge of governance framework under the existing Vietnamese legal provisions, experts discussed a number of new provisions of the Law on Enterprise, which had just been approved by the National Assembly of Vietnam on June 17, 2020. Besides, the DCP Programs guides on how businesses approach corporate governance beyond compliance with the Vietnam Corporate Governance Code of Best Practices for Public Companies issued on August 13, 2019 by the State Securities Commission and IFC.
Moreover, through the Q&A section with facilitators who are professionals, business leaders in many various fields, the participants can discuss and get generic recommendations for the problems and concerns they are facing as business leaders. The Q&A section was exciting with many practical examples around hot topics such as criteria for independent directors and their roles, how to scan and select independent directors, and differentiate roles of Audit committee and Supervisory board, Internal audit and other matters on information disclosure and much more.
Mr. Nguyen Duc Hanh, board member of PetroVietnam Ca Mau Fertilizer JSC, shared: “though it is only a three-day program, it gave me a deeper understanding of the Board’s roles and responsibilities which I think I can hardly find out by myself without attending this program. It is because the program facilitators have extensive knowledge and so much enthusiasm and desire to impart best corporate governance practices to participants. I also think that only when leaders understand and be well aware of their roles and responsibilities as well as those of other governance positions in the company, they can have the highest synergy to create the best values in a sustainable manner for the company ”.
DCP5 took place in the context that COVID-19 has been well controlled in Vietnam but still complicated in many countries around the world. Therefore, some VIOD’s foreign experts and facilitators could not be present in Ho Chi Minh City to discuss directly with attendees. Instead, VIOD has used online meeting technologies to connect with international speakers and experts, while maintaining the Program’s content and high quality.
Before this program, VIOD kept it up with professional activities by particularly holding 4 successful webinars which were highly appreciated by the Board members and executives in Vietnamese companies.
On the evening of July 15, 2020, VIOD also successfully organized its DCP Certificate Award & Alumni Networking event in Ho Chi Minh City to congratulate the graduated members of DCP1, DCP3 and DCP4. Click here for more information about the event.