1. About VIOD
The Vietnam Institute of Directors (VIOD) is an independent organization, which promotes corporate governance standards and best practices in the Vietnamese corporate sector. As a social enterprise, VIOD aims to advance board professionalism, promote business ethics and transparency, create a pool for independent directors, build a network to connect corporate leaders and stakeholders, and help companies inspire investor confidence.
VIOD is governed by a Board of Directors comprising of various private sector representatives — in close collaboration with and supported by the SSC, HOSE and HNX under the Vietnam Corporate Governance Initiative (VCGI). Our board members encompass a diverse group of business leaders and advocates of good corporate governance in Vietnam. They include senior dignitaries from investment funds, well-known international legal and accounting firms, and independent board members of prominent companies in the market.
In March 2018, VIOD was legally formed with technical support from the International Finance Corporation (IFC), a sister organization of the World Bank and a member of the World Bank Group and the Switzerland’s State Secretariat for Economic Affairs SECO. For more information, visit www.viod.vn
2. Who is our focused audience?
- Chairmen and members of the board of directors
- Senior company executives & corporate secretaries
- Legal, accounting, and finance professionals
- Other market stakeholders
3. Why Good Governance Matters?
Good corporate governance helps companies improve performance, increase access to financing, and strengthen long-term sustainability. Numerous studies have confirmed that Firms with strong corporate governance scores show better operational performance and are typically less risky. In addition, better corporate governance practices can achieve higher levels of investor trust and confidence leading to more robust economic development.
In summary, corporate governance is proven to help companies achieve the following:
|• Risk mitigation
• Reduce volatility of cash flows
• Enhanced reputation
• Heightened operational performance
• Boost employee morale and productivity
• Streamline and optimize operation
• Improve customer service and sales
|• Lower cost of capital
• Increased access to financing
• Improved stock performance and valuation
• Increased volume of cross-border investments
• Better stakeholder relations
• Increase transparency and information flow
Good corporate governance has significantly become more and more important to Vietnamese corporate sector. Many local companies have embraced good governance practices by putting in place well-structured boards, sound risk management and control frameworks and strong disclosure regimes, among other changes and reaped the benefits – including improved performance, mitigated risk events, better access to capital and improved reputation.
4. Our Vision and Mission
VIOD’s vision is to become a pioneering and leading organization in advancing corporate governance standards in Vietnam and supporting the professional development of directors, with a focus on improving the effectiveness of their boards and board committees.
VIOD’s mission is to:
- Improve the professionalism, expertise, and status of Vietnamese directors
- Share best corporate governance practices and resources
- Create a peer exchange and networking platform
- Influence corporate governance policies and advocate for market reforms
- Enhance investor confidence in Vietnam’s private sector and capital markets