VIOD CO-HOSTED THE “TOWARDS A TRANSFORMATIVE 2025 ANNUAL GENERAL MEETING SEASON” FORUM

On February 27, 2025, the “Towards a Transformative 2025 Annual General Meeting Season” Forum, was successfully held, co-hosted by the Vietnam Institute of Directors (VIOD), in collaboration with the State Securities Commission (SSC), the Ho Chi Minh City Stock Exchange (HOSE), and the Hanoi Stock Exchange (HNX). The hybrid event attracted nearly 500 participants, including board members, business leaders, and corporate governance experts from across the country.

The forum took place at a pivotal moment, as Vietnam’s stock market continues its journey toward upgrading from frontier to emerging market status. To support this transition, the Securities Law and related sub-law documents are being revised to reflect the dynamic needs of investors and the market. Alongside regulatory reforms, strengthening corporate governance in line with ESG and sustainability standards has become essential — no longer an optional strategy, but a fundamental requirement for listed companies seeking growth and capital access.

In his keynote address, Mr. Hoang Van Thu, Vice Chairman of the SSC, emphasized that stock market upgrading remains a strategic priority in 2025. He provided an overview of ongoing legal amendments, highlighting key updates designed to promote a transparent, stable, and sustainable capital market.

He reiterated the SSC’s commitment to enhancing market supervision and inspection mechanisms, ensuring that regulatory enforcement keeps pace with market development and investor expectations — ultimately reinforcing the stock market’s role as a key channel for capital mobilization in Vietnam’s economy.

Representing VIOD, Mr. Phan Le Thanh Long, Board Member and CEO, shared insights from the 2024 ASEAN Corporate Governance Scorecard (ACGS), offering companies a regional benchmark to better understand Vietnam’s standing in corporate governance practices.

As VIOD serves as an independent technical partner of the Vietnam Listed Company Awards (VLCA), Mr. Long also previewed upcoming changes to the evaluation criteria for governance and sustainability reports in the 2025 awards. He further introduced updates from the Vietnam Corporate Governance 50 (VNCG50) Scorecard initiative by VIOD, encouraging companies to adopt international best practices as they prepare for their Annual General Meetings (AGMs).

“Creating and protecting shareholder and investor value is a long-term strategic goal for every listed company,” Mr. Long stated. “A transparent and well-structured AGM is essential to achieving this goal and attracting both domestic and international investment.”

A lively panel discussion titled “How Can Businesses Innovate Their AGMs?” featured representatives from regulators, stock exchanges, and leading corporations. Panelists shared practical solutions and innovations to help companies enhance AGM effectiveness while adapting to new regulations.

From a regulatory viewpoint, Ms. Tran Thi Thuy Linh, Deputy Head of Listing Management Department at HOSE, encouraged companies to consider hybrid or virtual AGMs as a good governance practice. However, she noted that only 15% of listed companies on HOSE and HNX have adopted this model to date.

Mr. Nguyen Thanh Do, Vice Chairman of Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank), shared the bank’s experience in 2024, emphasizing a strong push for digital transformation. HDBank held a successful virtual AGM, providing materials in both Vietnamese and English to improve shareholder accessibility and inclusivity.

Mr. Johan Nyvene, Chairman of Ho Chi Minh City Securities Corporation (HSC), stressed that ongoing communication between the Board and shareholders — at least on a quarterly basis — is key to strengthening transparency and trust beyond the AGM Day. He noted that digital tools should enhance, not replace, meaningful stakeholder engagement.

The “Towards a Transformative 2025 AGM Season” Forum highlighted the shared commitment of regulators, directors, and corporate leaders to raise the bar in governance. With sustainability and ESG as guiding principles, the forum called for proactive adaptation and stronger transparency — crucial steps toward building investor confidence and supporting Vietnam’s capital market development.